The rising carbon emission from chemical processing, oil and gas, power generation and other industries is driving the market growth. Stringent regulation imposed on carbon emission level is generating huge demand for air quality control system. Also, robust industrialization leading to rising in air pollution has increased adoption of air purifying system. This is propelling market growth. Increase in R&D activities for the development of a more efficient air purifying system is likely to project the market growth upwards.
The latest report by Value Market Research expects the Global Air Quality Control System Market to reach USD XX.X billion by 2022. It was valued USD XX.X million in 20230. The report foresees a X.XX% CAGR from 2022 to 2030.
FABRIC FILTERS AND ELECTROSTATIC PRECIPITATE ACCOUNTED FOR HIGHEST MARKET SHARE
In 2018, fabric filters and electrostatic precipitate has accounted for the highest market share. Rising usage of fabric filters in boilers, incinerators, and generators that are used across various manufacturing industries is driving the fabric filter demand. The rising governmental regulations to curb carbon emission are responsible for fueling the demand for an electrostatic precipitator. The growing awareness regarding air pollution and its potential hazards is boosting the segment growth.
CEMENT MANUFACTURING DOMINATED THE APPLICATION SEGMENT
By application, cement manufacturing led the segment in 2018. The booming construction sector on account of the growing development of new residential buildings, commercial complexes and industrial facilities is driving the market growth. The rise in per capita income followed by an increase in the trend of nuclear families is again pushing the demand for construction of residential buildings.
ASIA PACIFIC LED THE REGIONAL MARKET
Regionally, Asia Pacific emerged as the leading regional market and has accounted for the highest market share in 2018. Growing dependency on non-renewable sources, increasing pollution rate and relatively less efficient existing purification system is driving the market demand in Asia Pacific. Also, robust industrialization coupled with increasing government measures to control air pollution is further fueling the market growth.
KEY PLAYERS OF THE MARKET
Some of the prominent players of the market are ABB Ltd, Alstom, Babcock & Wilcox Company, Burns & McDonnell, Foster Wheeler, Hamon Research-Cottrell, KBR, Mitsubishi Hitachi Power systems America and Siemens Energy.
As per this study the Global Air Quality Control System Market was valued USD XX BN (by revenue) in 2021 and is anticipated to reach USD XX BN by 2028 with a CAGR of 5.9%.
Air quality control system is the pollution control system that purifies exhaust or flue gases that are emitted during the industrial processes. It purifies the air by removing pollutants such as particulate matter (PM), nitrogen oxide, VOC and other hazardous compounds. The technologies used are flue gas desulphurization, sorbent injection solution, nitrogen oxide reduction, mercury control system, and particulate matter system.
Market Dynamics
The soaring need for power generation to fulfill global demand is driving the market growth. Stringent regulation imposed regarding the emission of hazardous gases and compounds is contributing to market growth. Rapid industrialization and growing concern regarding emission are also some major factors boosting the market growth. Ongoing development in air pollution control technologies is likely to push the market up in the forecasting period. However, shifting trend towards cleaner and renewable energy source may obstruct the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of air quality control system.
Market Segmentation
The broad air quality control system market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application
- Power Generation
- Cement Industry
- Iron & Steel Industry
- Chemical Industry
- Others
By Type
- Electrostatic Precipitators (ESP)
- Flue Gas Desulfurization (FGD)
- Scrubbers
- Selective Catalytic Reduction (SCR)
- Fabric Filters
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for air quality control system in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Air Quality Control System Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the air quality control system market include Mitsubishi Hitachi Power Systems Ltd, Thermax Ltd, Amec Foster Wheeler, Babcock & Wilcox Enterprises, Inc, Ducon Technologies Inc, General Electric, Fujian Longking Co. Ltd, and Siemens AG.. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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