UK electrostatic precipitator market to observe a notable growth rate over 2016-2024, rising implementation of power projects to spur the regional industry
The global aim to control pollutant emissions occurring due to the rapid industrialization will tend to electrostatic precipitator market gaining considerable traction in the years to come. Leading providers of electrostatic precipitators are constantly attempting to improvise on the product offering to combat the rising carbon footprints in the atmosphere. For instance, recently GE Power India received a contract worth more than USD 2.37 billion from GE Power AG, to supply electrostatic precipitator components and CFB boiler of capacity 150 MW. Strict government directives imposed on industries to control the pollutant emission levels will act as a major driver for global electrostatic precipitator industry.
High consumer spending capacity in the emerging economies is likely to boost the growth of the construction and infrastructural sector in the region, which in turn will fuel electrostatic precipitator market. The high demand for uninterrupted power supply has led to the implementation of myriad power projects. However, the growing awareness regarding the harmful inhalation of Sulphur trioxide and other pollutants has also prompted power companies to look out for measures to control these emissions, which will drive electrostatic precipitator industry trends. Global Market Insights, Inc., states that electrostatic precipitator market size is slated to surpass USD 8 billion, growing at a y-o-y rate of 5% over 2016-2024.
U.S. Electrostatic Precipitators (ESP) Market Size, by application 2013-2024 (USD Million)
Developing economies such as India and China are powerhouses for the growth of the construction and industrial sectors. This in itself is a strong driver for APAC electrostatic precipitator industry. Speaking of APAC, China held 3% of the regional share in 2015 and is anticipated to grow significantly over the period of 2016-2024, primarily driven by the rising implementation of coal fired power plant projects. To fulfill the demand for power supply, China plans to increase its electricity manufacturing capacity by 19% over the coming five years, which will claim the establishment of more power plants. This in turn, will stimulate the demand for precipitators, thereby fueling China electrostatic precipitator market.
Chile has begun to endorse mining activities for the development of the regional metal industry, which prompts the usage of electrostatic precipitators to absorb dust particles and metal shrapnel. Having held a value of over USD 30 million in 2015, Chile electrostatic precipitator market is expected to grow steadily over 2016-2024.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/798
With a contribution of more than 60% toward the regional share to boast of, U.S. electrostatic precipitator industry is projected to observe a reasonable growth over the years. The key factors that will account for this growth include the existence of strong market players in the region and the high demand for renovation projects.
Prime participants of electrostatic precipitator industry include Fujian Longking Co., Ltd., Mitsubishi Heavy Industries Mechatronics Systems, Siemens AG, GEECO Enercon Pvt. Ltd, Total Air Pollution Control Pvt. Ltd., Blacke-Durr GmbH, Trion Inc., Babcock & Wilcox Enterprises, Ducon Technologies Inc., Clean Tunnel Air International AS, Thermax Ltd., and Hamon Corporation. These companies aim to efficiently control the rising pollution levels by improving the product standards.
With reference to the products, electrostatic precipitators are mainly bifurcated as wet and dry. As the name implies, wet products are utilized to draw out wet, sticky, and highly flammable particles. These products make use of electrostatic forces to remove arsenic and lead particles, VOCs, or Sulphur trioxide fumes. With a filtering potential of 90%, wet products are applied in the textile, paper, and cement industries, owing to which electrostatic precipitator market from cement applications will observe a CAGR of 4% over 2016-2024.
Dry electrostatic precipitator industry was valued at USD 4 billion in 2015. These products filter out dry pollutants with more than 99% efficiency and possess the benefits of low cost and reduced maintenance. Increased usage of dry products in power plants and metal industries will spur dry electrostatic precipitator market, set to observe a CAGR of 5% over 2016-2024.
Global power demand is anticipated to increase by 45% by 2040. Growing demand for electricity and the subsequent installation of power plants will propel electrostatic precipitator industry from power plant applications, set to grow considerably from 2016-2024, with an initial valuation of USD 1 billion in 2015.
The ever-rising requirement for petroleum products such as LPG, asphalt, and diesel will push electrostatic precipitator market from chemical & petrochemical applications, which contributed to 20% of the overall share in 2015.
With the governments across the globe working in tandem to eliminate harmful pollutant emissions, global electrostatic industry is bound to witness an upsurge. Constant efforts by market players to introduce efficient ESPs will also change the market dynamics over the coming seven years.
Author Name :Saipriya Iyer
This entry was posted in Sustainable & Smart Technologies and tagged Cement, Chemicals And Petrochemicals, Dry Electrostatic Precipitator Market, Electrostatic Precipitator Market, Electrostatic Precipitator Market Research, Electrostatic Precipitator Market Size, ESP Market, Global Electrostatic Precipitator Market, Manufacturing, Metal, Power Plants, Wet Electrostatic Precipitator Market.