Electrostatic
Precipitator Market Analysis
The
‘global electrostatic precipitator market’ analysis is a specific and in-depth
study of the electrostatic precipitator that have a particular focus on the
comprehensive trend analysis. Market Research Future study depicts that the
market would experience substantial growth at a CAGR of 4.00% during the
forecast period 2016–2023. The study further provides key data on the market by
analyzing the factors that drive, segmentation, and regional analysis to
understand the market dynamics in the future.
Market
Dynamics: Drivers & Challenges
The
global Electrostatic
Precipitator Market Analysis is expanding considerably due to the
grossing factors such as tightening air pollution control regulations. It has
been one of the critical factors that influenced the market in building its
position for past years. It is now on the verge of expansion to a great extent.
Similarly, the growth of coal-fired power plants and the development of the
cement industry also present some of the most extensive opportunities for the
electrostatic precipitator market during its growth period.
It
is the Asia Pacific region that has observed collaboration with China’s
Ministry of Environmental Protection (MEP) that focuses on critical areas such
as improving environmental enforcement, reducing water pollution, advancing air
quality, and enhancing environmental
cooperation. These have been sponsors for the market’s growth. In line with
such an initiative, in August 2017, a two-day workshop was organized on
environmental inspections. By this, it could be expected that the global market
for electrostatic precipitator can achieve a higher valuation during the
assessment period and make a robust position in the energy and power industry,
globally.
It
is the several industries such as chemical, paper, and power that have been
beneficial from the electrostatic precipitator for removing the particles from
the exhaust gas stream. Due to such high features, the electrostatic
precipitator is gaining all the traction, which, at the same time, is making it
accessible in the energy & power industry.
Furthermore,
the global electrostatic precipitator market is likely to expand at a moderate
growth rate during the evolving stage, chiefly due to rising environmental
concerns. In the case of point, in October 2016, the Manila Declaration on
Health and Environment was signed to commit and take action to address the
environment and health. The initiative was made in the context of sustainable
development goals. All these factors are prospective to drive the demand for
electrostatic precipitators in the coming years.
Market
Segmentation
The
world of electrostatic
precipitator market, as per the study, has been segmented by type,
component, and end-user.
In
terms of type: Dry ESP and wet ESP are the segments. Wherein, the dry ESP
segment leads the market. The reason behind the growth of these types of
electrostatic precipitators are attributed to its ability to withstand high
temperatures and high particulate volumes, low electricity consumption, and
cost-effectiveness.
In
terms of Component: Hardware and software & services are the segments.
In
terms of end-user: Power, metals, cement, chemicals and more are the segments.
Regional
Framework
Region-specific
approach to the electrostatic precipitator market reveals key regions such as
North America, Europe, Asia-Pacific, and the rest of the world.
Global
Electrostatic Precipitator market is expected to witness a moderate growth
during the forecast period in Asia Pacific region due to tightening air
pollution control regulations. Government regulations in Asian countries
associated to environment conservation are prospective to drive the demand for
electrostatic precipitator to a great extent. In case of point, Beijing sets
the target for improving the air to 80%, which is driving the market for new
Electrostatic Precipitator in this region. On the other hand, China’s ministry
surpassed its target set for air pollution action plan in 2013. Similarly, in
its five-year plan until 2020, China’s national air pollution plan has brought
incredible reductions in pollution levels that impacted the rising number of
health risks to minimum.
Further,
North America region is estimated to register substantial demand in the coming
years owing to rising automation, rapid industrialization, and stringent
government framework having an aim to curb pollution levels. Electrostatic
precipitators play a pivotal role in protecting human life and safeguarding it
from illnesses caused by polluted air which is the booster for the market in
this region.
Market
Players
The
well-known players of global Electrostatic Precipitator market are listed as
Babcock & Wilcox (US), General Electric (US), Hamon Group (Belgium), Fujian
Longking (China), Mitsubishi Hitachi Power Systems (Japan), Ducon Technologies
(US), AMEC Foster Wheeler (UK), Thermax Global (India), Siemens AG (Germany),
and Trion (US) and to name a few.
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