China market is set to grow owing to introduction of emission norms along with stringency in existing regulations pertaining NOx from power plants and cement industries. The ongoing investments toward the development of new industrial facilities along with the government focus on improving the energy efficiency will drive product deployment. In addition, the country emphasized on the enhancement of energy efficiency across various industries under the 13th Five Year Plan for Energy Conservation and Emission Reduction Program that has complemented the product demand.
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Stationary Catalytic Systems Market size is set to surpass USD 6 billion by 2025Increasing nitrogen emissions from power plants and other industrial applications along with the growing concerns toward its adverse effects on environment and human health will complement the stationary catalytic systems market growth. The EPA introduced regulations under National Ambient Air Quality Standards (NAAQS) with an aim to limit nitrogen emissions from boilers and gas turbines. Rising concerns pertaining NOx emissions along with stringent legislative norms is anticipated to encourage the adoption of Selective Catalytic Reduction Systems (SCRs) & oxidation catalyst.
Power plants application was valued over 2 billion in 2018. Increasing demand for electricity consumption along with rapid industrialization is anticipated to augment the product deployment. Rising demand for manufacturing activities have led to an expansion of in self-regulated power generating utilities, further encouraging the stationary catalytic systems market growth. In addition, restructuring of aging plants owing to increasing focus on green agenda is one of the underline parameter that will support the industry landscape.
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Ongoing R&D investments pertaining product design and ability to reduce the cost pressure will strengthen the business outlook. In addition, growing significance of energy management and optimization across the industries coupled with increasing investments toward the development of technologically advanced SCRs is projected to drive the global market growth.
The U.S. market is projected to grow over 5% by 2025. Stringency in government directives along with technological enhancements to improve product features will complement the product demand. Introduction of National Ambient Air Quality Standards (NAAQS) in the U.S. that define air quality levels is anticipated to drive the market growth. In addition, replacement of existing infrastructure coupled with ongoing retrofitting activities will strengthen the business landscape.
Growing electricity demand along with increasing efforts to minimize the energy demand-supply gap is projected to complement the stationary catalytic systems market share. Moreover, increasing contribution from major financial institutions including Asian Development Bank, International Monetary Fund and African Development Bank will positively influence the industry landscape.
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Key industry manufacturers for the stationary catalytic systems market comprises of Kwang sung, Agriemach, Hug Engineering, Johnson Matthey, MAN Energy Solutions, DCL International, Yara International, Babcock and Wilcox, AMEC Foster Wheeler, Ducon Technologies, McGill AirClean, and CORMETECH.