Strict emission norms to foster global electrostatic precipitator market share through 2020-2024
Selbyville, Delaware, United States, September 11 2020 (Wiredrelease) Global Market Insights, Inc –:The global electrostatic precipitator market is poised for robust growth on the back stringent norms being implemented to control NOx and sulphur emissions. This trend is increasingly being witnessed across developing economies like China. Government authorities in the region have imposed numerous emissions measures to curb pollution. For instance, China incorporated the environmental protection tax that includes several policies aimed at limiting pollution.
Numerous agencies across the world as well have aligned their focus on reducing air pollution. For instance, International Maritime Organization (IMO), in April 2018, approved the initial pollution control strategy to restrict overall annual GHG (greenhouse gas) emission level by 50% by 2050, compared with 2008 levels.
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Speculating these aspects, Global Market Insights, Inc., suggests that the global electrostatic precipitator market may exceed USD 8 Billion by the year 2024.
Increasing electricity demand across emerging nations on account of rapid urbanization and industrialization could propel electrostatic precipitator market size. According to reports, in 2017, the world electricity demand rose by 3.1% as compared to 2016. Increasing renovation and replacement of existing systems across the construction and power generation sector may accelerate the deployment of electrostatic precipitators in the coming years.
Dry electrostatic precipitator systems have witnessed increased traction on account of its ability to offer improved collection efficiency through integration with wet ESP’s and gas scrubbers. Minimal capital cost and high filtration efficiency are some of the prominent features supporting product deployment. Moreover, high operating efficiency over a wide range of exhaust temperatures may aid product penetration over the forecast period.
On a regional front, Europe is expected to offer lucrative growth opportunities to companies operating in the electrostatic precipitator market. New investments made in petrochemical and chemical industries coupled with favourable regulatory framework may accelerate the deployment of electrostatic precipitators in Europe. Widespread adoption of superior petrochemicals across numerous industries coupled with increasing exporting activities could complement regional industry outlook.
Meanwhile, the U.S. electrostatic precipitator market is anticipated to record steady growth owing to favourable government regulations to limit industrial air pollution. Burgeoning demand for precious metals coupled with easy availability of mineral resources could boost mining activities, facilitating product adoption across the region.
Electrostatic precipitators are extensively deployed across the cement industry to reduce pollution. As per IEA, in the year 2017, the cement industry was the second biggest industrial emission generating sector, holding approx. 6% of the emission across the globe.
Moreover, robust spending on construction and refurbishment activities may boost ESP deployment across the cement industry. Introduction of numerous large-scale infrastructural projects could further accelerate electrostatic precipitator business outlook.
Considering the market’s competitive landscape, major industry players operating in the electrostatic precipitator market include Total Air Pollution Control, Mechatronics Systems, Cottrell, Thermax, Trion, Babcock & Wilcox, Fujian Longking, Sumitomo, Mitsubishi Heavy Industries, GEECO Enercon, Ducon Technologies, and Siemens.
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