Electrostatic Precipitator Market Set for Substantial Growth, Reaching US$ 13 Billion by 2031
Dublin, March 26, 2024 (GLOBE NEWSWIRE) -- The "Electrostatic Precipitator Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region" report has been added to * ResearchAndMarkets.com's* offering.
The global electrostatic precipitator (ESP) market is poised for remarkable expansion in the coming decade, according to a recent market analysis report. In 2024, the market witnessed sales amounting to a valuation of US$ 67.4 billion, and this figure is projected to surge to US$ 13 billion by 2031. The anticipated growth represents a staggering 8.0% Compound Annual Growth Rate (CAGR) over the next ten years, driven by escalating demand across various industries.
*Growing Concerns Drive Market Expansion*
One of the primary factors propelling the demand for electrostatic precipitators is the escalating concerns over rising air pollution levels globally. Industries are under increasing pressure to reduce emissions, leading to a surge in the adoption of electrostatic precipitators for the removal of harmful particulates during various industrial activities.
*Stringent Regulations Fuel Market Demand*
Implementation of stringent emission regulations across diverse industries further augments the demand for electrostatic precipitators. Governments worldwide are introducing new rules and regulations to curb air pollution, creating a favorable environment for the growth of the electrostatic precipitator industry.
*Addressing Air Quality Management Needs*
The rising need for proper air quality management is also a significant driver of electrostatic precipitator sales. With increasing awareness about the benefits of these devices, their adoption is expected to witness a substantial uptick across industries globally.
*Rapid Industrialization Supports Market Expansion*
The rapid penetration of industrialization, particularly in developing nations, is expected to support the expansion of the electrostatic precipitator market. As industries expand, the demand for electrostatic precipitators for controlling emissions is likely to surge.
*Advantages Fueling Adoption*
Electrostatic precipitators offer several advantages over traditional filtration systems. They are durable, capable of handling large gas volumes and heavy dust loads, and can be used for both wet and dry impurities collection. Moreover, these devices incur low operating costs, further driving their adoption across industries.
*Category Insights
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*Plate Wire Electrostatic Precipitators Dominate*
Plate wire electrostatic precipitators are expected to remain highly sought-after, owing to their growing adoption across various industries. The segment is projected to witness significant growth driven by increased usage in power generation, cement, and other sectors.
*Power Generation Sector Leads Demand*
The power generation sector continues to lead in terms of electrostatic precipitator demand, fueled by rapid expansion and the need to reduce harmful particulate emissions from energy production processes.
*Competitive Landscape*
Leading electrostatic precipitator manufacturers including Babcock & Wilcox, FLSmidth, DUCON, and General Electric are focused on developing new technologies and expanding their market presence through strategic partnerships and acquisitions.
*Key Companies Profiled*
· Babcock & Wilcox
· FLSmidth
· DUCON
· General Electric
· John Wood Group plc
· Mitsubishi Power Ltd.
· Hamon, Siemens AG
· Thermax Ltd
· Trion IAQ
*Global Electrostatic Precipitator Market Segmentation:*
*By Product Type:*
· Plate Wire
· Flat Plate
· Tubular
· Wet
· Two Stage
*By End Use:*
· Power Generation
· Chemicals
· Metals
· Petroleum Refineries
· Cement
*By Region:*
· North America
· Latin America
· Europe
· Asia Pacific
· Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/m1i3yc
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