Global Flue Gas Desulfurization System Market 2019-2023 | Rising Preference for Dry FGD Technology to Boost Growth | Technavio

The global flue gas desulfurization (FGD) system market is expected to
post a CAGR of over 6% during the period 2019-2023, according to the
latest market research report by Technavio.

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The global flue gas desulfurization (FGD) system market will post a CAGR of over 6% during the period 2019-2023 (Graphic: Business Wire)

Refineries are an integral part of the oil and gas supply chain as they
convert raw crude oil into finished products. However, refineries are
characterized by a large number of complex units, which produce multiple
products and various harmful by-products. FGD systems are used to remove
such gasses to ensure a contaminant-proof environment for the refining
process. Moreover, with the transportation sector growing due to the
expansion of road and air networks, the demand for refined fuel is also
rising. The need for energy security is also increasing investments in
the refining sector. For instance, countries in the Middle East and
Africa, Asia, and South America are seen investing in new greenfield
refineries. Thus, such factors will directly increase the demand for FGD
system in refineries in the oil and gas industry.

As per Technavio, the rising preference for dry FGD technology will have
a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
flue gas desulfurization system market research report
also analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

Global flue gas desulfurization system market:
Rising preference for dry FGD technology

Wet FGD and dry FGD are the two technologies used by FGD systems. Wet
FGD systems are the preferred choice among all end-users. Nevertheless,
the high cost of wet scrubbers makes FGD systems affordable only to
large end-users. Dry FGD systems, on the other hand, has low power
consumption, operational and maintenance costs, and freshwater
consumption. Also, the absence of a liquid stream eliminates the issues
associated with disposal, which is a significant issue in wet FGD
systems. Hence, the preference for dry FGD systems is increasing. With
the increasing adoption and the advantages associated with FGD systems,
the market for flue gas desulfurization will have a positive outlook
during the forecast period.

“The growing demand for power is another major contributor to the
growth of the global FGD systems market as power generation plants are
the key end-users of FGD systems. The rising demand for power and the
growth of the global population have increased the need for the
expansion of power generation capacity. Rapid industrial growth in
emerging countries has also increased the demand to expand power
generation capacity. Hence, the rising demand for energy is expected to
boost the growth of the overall global FGD systems market,” says a
senior analyst at Technavio.

Global flue gas desulfurization system market:
Segmentation analysis

This market research report segments the global flue gas desulfurization
system market by product (wet FGD and dry FGD) and geographical regions
(APAC, Americas, Europe, and MEA).

The APAC region led the market in 2018, followed by the Americas,
Europe, and MEA, respectively. During the forecast period, the APAC
region is expected to continue dominating the market as well as register
the highest incremental growth due to the increase in demand from
prominent end-user such as the paper and pulp, refineries, and chemical
and petrochemical industries.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005067/en/