Electrostatic Precipitator Market Analysis:
Electrostatic Precipitator Market is expected to be valued at USD 9.5 Billion, with a CAGR of 4.00% Forecast by 2030.
The global electrostatic precipitator market is witnessing continually rising revenues. Stringent government policies to control air pollution and rapidly increasing usages of electrostatic precipitators drive the market growth. Moreover, the shipping industry witnessing an uptick in maritime transport and seaborne trade substantiates the market size due to strict regulation against gaseous emissions.
Additionally, spurting growth in end-user sectors, including automotive, and chemicals foster the growth of the market. On the other hand, stringent safety norms and standards for product approval impede the growth of the market. Nevertheless, the increasing interest in shale gas extraction is expected to support the market's growth, creating the demand for the scrubber system. Furthermore, the adoption of global policies of maintaining safe ecological standards increases sales in the market.
Report Attribute/Metric
Details
CAGR
4.0% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Component and End-User
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Global Electrostatic Precipitator Market - Segmentation
The report is segmented into type, component, end-users, and regions. The type segment is sub-segmented into ESP and wet ESP. The component segment is sub-segmented into inlets, insulators chambers, inspection doors, collecting rapping, screw conveyors, rapper drive stations, and others. The end-user segment is sub-segmented into power, metals, cement, chemicals, and others.
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Global Electrostatic Precipitator Market - Regional Analysis
The Asia Pacific region dominates the global electrostatic precipitator market. Stringent regulations against the increasing pollution levels are compelling a number of industries to implement electrostatic precipitators in their production. Moreover, increasing uptake of electrostatic precipitators in metals & mining, and chemical industries impact the growth in the regional market.
The drastic shift in eco-awareness and environment protection is substantiating the regional market growth. China and South Korea are lucrative markets attracting market titans.
Electrostatic Precipitator Market - Competitive Analysis
The electrostatic precipitator market appears to be well-established yet competitive due to the presence of many small and large-scale players. Matured players incorporate strategic initiatives such as acquisition, collaboration, expansion, and product & technology launch to gain a competitive advantage in this market.
Industry/ Innovation/ Related News:
Aug. 09, 2021 --- Ecospray (Italy) announced the development of a new wet electrostatic precipitator for eliminating particulate matter and black smoke emitted by passenger ships and other vessels.
The solution removes visible smoke from a ship's funnel, capturing particles and condensable molecules like sulfur oxides. The new WESP system can be integrated into an existing desulphurization tower/ installed as a stand-alone unit for open-loop and hybrid exhaust gas cleaning systems (EGCS).
Major Players:
Players leading the electrostatic precipitator market include General Electric (US), Siemens AG (Germany), Mitsubishi Hitachi Power Systems (Japan), AMEC Foster Wheeler (UK), Babcock & Wilcox (US), Thermax Global (India), Fujian Longking (China), Ducon Technologies (US), Trion (US), and Hamon Group (Belgium), among others.
