Nitrogen Oxide Control Systems Market Size, Analysis, Opportunities and Future Prospects 2025
According to
a new report published by KD Market Insights, titled, Nitrogen Oxide
Control Systems Market, By Technology and Application: Global Opportunity
Analysis and Industry Forecast, 2018-2025," the global nitrogen oxide
control systems market was valued at $17,833 million in 2017, and is projected
to reach $28,044 million by 2025, registering a CAGR of 5.7% from
2018 to 2025.
Nitrogen
oxide (NOx) control systems are used to control and reduce harmful nitrogen
oxide emissions released from various sources such as automobiles, power
plants, cement industry, and others. Nitrogen dioxide is referred to as an
oxide of nitrogen, which reacts with atmospheric gases to form smog and acid
rain. It is responsible for formation of fine particles and ground-level ozone,
both of which are associated with adverse health effects. Thus, there is a
growth in demand for nitrogen oxide control systems, for reducing the emission
of nitrogen oxide.
The global
nitrogen oxide control systems market is driven by factors such as stringent
government regulations and programs, such as the Clean Air Act Amendments of
1990 and the Ozone Transport Region (OTR) NOx Cap and Allowance Trading
Program, to reduce nitrogen oxide emission in different industries such as
power generation, cement manufacturing, chemicals, and metal processing.
However,
limited operational range of this system is a major performance issue, which is
expected to hinder the growth of the global nitrogen oxide control systems market.
New developments in pollution control technologies and increase in consumer
awareness regarding pollution control are expected to offer growth
opportunities to the global nitrogen oxide control systems market.
Nitrogen
oxide control systems based on selective catalytic reduction (SCR) technology
are in high demand among end users. However, the selective non-catalytic
reduction (SNCR) technology is expected to grow at a high CAGR during the
forecast period. The SNCR operating and capital costs are lowest among all the
NOx reduction methods, and the retrofit is also relatively simpler. In
addition, SNCR has low downtime for large- and medium-size units. Furthermore,
it is applied with combustion control to ensure higher NOx reduction.
Key
Findings of the Nitrogen Oxide Control Systems Market:
- The
selective catalytic reduction segment accounted for two-fifths market share in
2017.
- The industrial segment is anticipated to grow at the highest rate in the nitrogen oxide control systems market during the forecast period.
- The Asia-Pacific nitrogen oxide control systems market accounted for nearly half of the market share in 2017.
- The LAMEA region is anticipated to grow with the highest CAGR of 7.6% during the forecast period.
- The industrial segment is anticipated to grow at the highest rate in the nitrogen oxide control systems market during the forecast period.
- The Asia-Pacific nitrogen oxide control systems market accounted for nearly half of the market share in 2017.
- The LAMEA region is anticipated to grow with the highest CAGR of 7.6% during the forecast period.
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Full Report & TOC: https://www.kdmarketinsights.com/product/nitrogen-oxide-control-systems-market-amr
Asia-Pacific
was the leading revenue contributor to the global NOx market in 2017, and it is
expected to dominate the market during the forecast period. The demand for
cement in the construction industry has been growing at a significant rate in
the Asia-Pacific region, which has led to increase in emissions of nitrogen oxide
into the atmosphere. Cement manufacturing along with transportation is one of
the important applications of nitrogen oxide control systems. Likewise,
coal-fired power plants have been experiencing high growth rates in countries
such as China, India, Vietnam and Japan, further propelling the demand for
nitrogen oxide control systems and boosting the growth of the market.
The key
players of this market include Babcock & Wilcox Enterprises, Inc., CECO
Environmental, Ducon Technologies, Inc., Fuel Tech, Honeywell International,
Inc., John Wood Group PLC, Mitsubishi Hitachi Power Systems, Ltd., S.A. Hamon,
Siemens AG, and the Shell Group. Other players (these players are not profiled
in the report, and the same can be included on request) in the value chain include
Thermax Limited, Fujian Longking Co., Ltd., and Delphi Technologies.
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