The FGD systems market is projected to grow from USD 17.7 billion in 2020 to USD 23.1 billion by 2025, at a CAGR of 5.5% from 2020 to 2025. The Asia Pacific region dominated the FGD system market in 2019. The major driver for the growth of the market in this region is the growth of the coal-fired power generation and cement manufacturing industries, among others. The market in this region is growing considerably and India is likely to be a major hotspot over the next five years.
Mitsubishi Heavy Industries Group (Japan), General Electric Company (US), Doosan Lentjes GmbH (Germany), Babcock & Wilcox Enterprises Inc. (US), Rafako S.A. (Poland), FLSmidth & Co. (Denmark), Hamon Group (Belgium), Marsulex Environmental Technologies (US), Thermax Group (India), and Andritz AG (Austria) have adopted agreements, expansions, innovative technology research, and new product development as their key growth strategies. The other noteworthy players in this market are Ducon Technologies Inc. (US), Chiyoda Corporation (Japan), China Boqi Environmental (Holding) Co. Ltd. (China), LAB S.A. (France), Valmet Corporation (Finland), Kawasaki Heavy Industries Group (Japan), Macrotek Inc. (Canada), China Everbright International Ltd. (China), AECOM (US), Burns & McDonnell (US), Rudis Trbovlje (Slovenia), Steinmuller Engineering GmbH (Germany), Shandong Baolan Environmental Protection Engineering Co. Ltd. (China), IDE Technologies (Israel), and KC Cottrell (South Korea). These players have adopted strategies such as expansions, agreements, and new product development to enhance their position in the market.
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In February 2020, Mitsubishi Hitachi Power Systems (MHPS) received a 12 year maintenance service extension for the BLCP power station in Thailand. This agreement covers maintenance of major equipment, including boilers, steam turbines and flue gas cleaning systems. This agreement will strengthen the service business of the company and boost revenue generation.
In July 2020, General Electric (GE) Steam Power signed an agreement with NTPC Limited, India, for the supply of wet FGD systems for 3 coal-fired power plants. With these wet FGD systems, the company will help NTPC treat approximately 35 million cubic meters per hour of flue gas meeting India’s thermal power plant emission norms for SO2. This agreement also allows GE to strengthen its foothold in the country in which it already has 15.28 GW of SO2 reduction systems.
In July 2019, Doosan Lentjes announced the delivery and commissioning of two FGD systems in Vietnam. This system deployed seawater FGD technology and was installed at the Vinh Tan 1 power plant, Binh Thuan province, Vietnam. Doosan Lentjes’ scope of work included engineering and delivery of key FGD equipment along with advisory services for erection and commissioning. This development establishes the company’s reputation as a specialist in the delivery of air quality control systems across the global utility, municipality, and industrial sectors.
In September 2019, Rafako S.A. entered into an agreement with PGE GiEK S.A. for a comprehensive upgrade of the FGD systems on units 8 to 12 at the Belchatow power plant. This agreement will provide Rafako a revenue of approximately USD 80 million and will strengthen its position as a market leader in the European region.
Read More: https://www.marketsandmarkets.com/PressReleases/flue-gas-desulfurization-systems.asp
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