The global industrial DeNOx systems & services market was valued at around US$ 18 Bn in 2017 and is anticipated to expand at a CAGR of approximately 9.0% during the forecast period, according to a new report published by Transparency Market Research (TMR) titled ‘Industrial DeNOx Systems & Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The global industrial DeNOx systems & services market is driven by factors such as increase in the demand for these systems from power plants. Industrial DeNOx systems are most widely used in coal-fired thermal power plants, due to high flue gas emissions from these plants. Flue gas released from electricity generation units is harmful for the environment and it can cause severe health hazards to people in nearby areas. Industrial DeNOx systems used in power plants help reduce NOx emissions. The industrial DeNOx systems & services market in Asia Pacific is expanding at a significant pace due to increase in the demand for these systems in cement plant applications in the region.
Request A Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12368
Increase in demand from power plants to drive industrial DeNOx systems & services market
Though power generation is moving toward renewable sources of energy across the world, thermal electricity generation is anticipated to account for a prominent share of the global electricity generation, especially in developing countries of Asia Pacific, in the near future. Additionally, focus on protection of the environment is anticipated to increase during the forecast period. This is anticipated to fuel the demand for DeNOx systems and services in India and countries in ASEAN along with Mexico and Brazil. Thus, increase in overall electricity consumption and high share of coal-fired power plants in the electricity generation are expected to fuel the demand for industrial DeNOx systems and services in the next few years.
Increase in demand for industrial DeNOx systems and services for use in waste incineration plants
Increase in the number of solid waste incineration plants across developed countries such as Germany, the U.K., and the U.S. is helping these countries get rid of solid municipal waste, which causes several environmental issues. However, waste incineration plants generate high NOx emissions. Industrial DeNOx systems help governments minimize NOx emissions from these plants. Furthermore, increase in the waste generation across the globe and stringent environmental regulations are anticipated to lead to increase in the number of municipal solid waste incineration plants in the next few years. This, in turn, is likely to propel the industrial DeNOx systems & services market in the near future.
To obtain all-inclusive information on forecast analysis of market, request a PDF brochure here.
Selective catalytic reduction segment to dominate the industrial DeNOx systems & services market
In terms of type, the global industrial DeNOx systems & services market has been divided into selective catalytic reduction and selective non-catalytic reduction. The selective catalytic reduction (SNR) segment is projected to dominate the market, due to capability of SNR systems to reduce NOx emissions by up to 95%. This makes SNR systems a favorable choice of DeNOx systems in countries where NOx emission limits are highly strict. The segment is projected to expand at a significant pace from 2018 to 2026.
Rise in usage of industrial DeNOx systems and services in developing economies to create opportunities
In terms of region, the global industrial DeNOx systems & services market has been divided into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Rapid urbanization in developing countries such as China, India, and Mexico is boosting the demand for new construction and thereby, for new cement manufacturing plants in these countries. This, in turn, is propelling the demand for industrial DeNOx systems and services across the world.
A few key players operate in semi-consolidated industrial DeNOx systems & services market
Key players covered in this report are CECO Environmental Corp., Babcock & Wilcox Enterprises, Inc., GE Power, Yara International ASA, Mitsubishi Hitachi Power Systems, Ltd., Ducon Environmental Systems, Hitachi Zosen Inova AG, ANDRITZ Group, Babcock Noell GmbH, and Tri-Mer Corporation. CECO Environmental Corp., Babcock & Wilcox Enterprises, Inc., and Yara International ASA are active players in the global industrial DeNOx systems & services market. These companies operate across the world. This helps them establish control over the entire value chain and sustain their leading position in the market.