SCR Systems for Coal Fired Plants Market - Global Industry Analysis, Market Size:2024
Global SCR Systems for Coal Fired Plants Market: Overview
Selective catalytic reduction (SCR) systems are being widely used to protect the environment from harmful gases produced by several industries. An SCR system converts harmful oxides of nitrogen (NOX) into harmless nitrogen (N2) and water (H2O). This technology is the most resourceful method of decreasing NOX emissions in coal fired power plants wherein about 70 per cent to 90 per cent productivity is required. Consequently, the global SCR systems for coal fired plants market is projected to register a significant growth rate during the forecast period of 2016 to 2024.
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This report on the global SCR systems for coal fired plants market presents a comprehensive analysis of drivers and restrictions and estimates the eventual impact of each of those factors. The report has been developed via proven research methodologies such as Porter’s five forces and SWOT analysis. Among the key features of the report is the section on company profiles, wherein a number of key players have been studied for their product range, market share, revenue, and recent strategic developments. It also provides insight into the segments and regions of the market. The global market for SCR systems for coal fired plants can be segmented on the basis of configuration into high dust SCR systems and tail end SCR systems.
Global SCR Systems for Coal Fired Plants Market: Trends and Prospects
The global SCR systems for coal fired plants market is prospering due to various factors such as recent development in technologies, growing energy demand, strict laws pertaining to the emission of harmful gases, and the cost effectiveness of coal as compared to oil and gas. In addition, incentives and tax benefits given by governments will propel the use of SCR systems in coal fired power plants. However, high cost involved in setting up of SCR systems and the existence of alternative fuels pose as the major obstacles in the growth of the market for SCR systems.
On the basis of configuration, high dust SCR systems are extensively used for NOX reduction in power plants. For waste incineration systems and glass furnaces, the compact designed tail end SCR systems are more in demand for reducing NOX.
Global SCR Systems for Coal Fired Plants Market: Regional Analysis
The global SCR systems for coal fired plants market can be segmented on the basis of geography into Asia Pacific, Europe, North America, and Rest of the World. Currently, North America accounts for most of the demand, especially driven by the country-wide markets of the U.S., Mexico, and Canada. On the other hand, Asia Pacific is expected to turn into a highly profitable region during the forecast period, with maximum demand stemming from China, India, Japan, and Indonesia. Presently, China and India depend on their local coal reserves besides importing from countries such as Indonesia, South Africa, and Australia to fuel their thermal power plants.
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Companies mentioned in the research report
The global SCR systems for coal fired plants market is extremely fragmented and with the increasing demand, the competition is projected to get more intense in the coming years. Doosan Power Systems, Alstom, Babcock & Wilcox, FLSmidth, Mitsubishi Heavy Industries, Babcock Noell, Burns & McDonnell, China Environment Ltd., Fuel Tech, and Haldor Topsoe are some of the key players in the market.