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Stationary catalytic systems Market By Industry Growth, Trend and Forecast 2024

Author : Rahul Sankrityayan | Published Date : 2019-07-12 

Stationary catalytic systems Market report provides all study material concerning summary, growth, demand and forecast analysis report altogether across the globe.

Stationary catalytic systems market is predicted to exceed USD 6 Billion by 2025. Rising emission levels from power plants & other industries coupled with the introduction of government norms to limit pollution will positively influence the business landscape. The EPA announced National Ambient Air Quality Standards (NAAQS) that aim to limit NOx emissions from gas turbines and boilers. Growing concerns toward adverse effects of pollution along with stringency in norms is projected to boost the installation of oxidation catalyst & Selective Catalytic Reduction systems (SCRs).

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China market is projected to witness growth owing to introduction of NOx reduction mandates along with stringency in the existing directives. Increasing investments with an aim to develop new industrial facilities coupled with the rising focus toward energy efficiency will drive the stationary catalytic systems market growth. China, under its 13th five-year plan for the Energy Conservation & Emission Reduction Program has set emphasis on the improvement of energy efficiency across the industries, that has strengthened the business landscape.

Power plants application was worth over 2 billion in 2018. Rising electricity demand coupled with rapid industrialization will augment the product installation. Economic development primarily in Asia Pacific along with increasing manufacturing activities is leading to an expansion in self-regulated utilities for generating power, further expanding the stationary catalytic systems market. In addition, norms and standards toward zero emission building coupled with restructuring of aging plants & industries are the underline parameters complementing the industry landscape.

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Growth drivers

  • Stringent regulatory framework toward NOx emissions
  • Growing electricity demand

 Industry pitfalls & challenges

  • High installation cost

Ongoing research and development activities pertaining product enhancement & design to diminish the cost pressure will fuel the stationary catalytic systems market growth rate. Growing significance on energy efficiency, management & optimization across the power plants and industries along with rising investments toward development of technically advanced SCRs will further boost the product penetration.

Rapid industrialization, growing electricity consumption and introduction of energy efficiency protocols will positively influence the stationary catalytic systems market. Ongoing efforts to minimalize the electricity demand and supply gap is projected to drive the product demand. In addition, rising government protocols pertaining equipment inspection, construction and operation will augment the product installation.

The U.S. market is anticipated to witness growth over 5% by 2025. Strict government mandates along with technologically advanced product features & increasing focus toward sustainable units will encourage the product deployment. In addition, presence of sophisticated infrastructure coupled with ongoing refurbishment of aged technology is projected to stimulate the industry outlook.

Key industry manufacturers in the stationary catalytic systems market includes Agriemach, Ducon Technologies, DCL International, Kwang sung, Hug Engineering, MAN Energy Solutions, Johnson Matthey, Babcock and Wilcox, Yara International, McGill AirClean, AMEC Foster Wheelerand CORMETECH.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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