Increasing awareness about air quality management and rapid Industrialization in both the developed and developing economies drive the growth of the global electrostatic precipitator market. Based on end use, the power generation segment contributed to the major share in 2020. Based on region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
The global electrostatic precipitator market estimated at $6.6 billion in 2020 and is expected to hit $10.0 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Electrostatic precipitator (electrostatic air cleaner) is a device that removes certain impurities such as solid particles or liquid droplets from air or gaseous stream. It uses electric charge to remove impurities coming out from smokestacks and other flues.
Electrostatic Precipitator Market Segment Overview
By end use, the global market is divided into power generation, chemicals, metal, petroleum refineries, cement, and others. The power generation segment dominated the global market in terms of revenue in 2020, with over two-fifth of the total share. Increase in foreign direct investment (FDI) and integration of power development schemes are expected to augment the growth of power generation sector, where electrostatic precipitator is widely used for ash and soot removal purposes.
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By product type, the market is segregated into plate wire, flat plate, tubular, wet, and two-stage. The plate wire segment dominated the global market in terms of revenue in 2020, with over one-third of the total share. This is attributed to the fact that the global electricity demand is increasing rapidly, which, in turn, has led the coal-fired and gas-based power plants to witness a significant increase in demand. This is expected to increase the sales of plate wire type electrostatic precipitators for reducing the particulate matter from exhaust gas in power plants.
Based on geography, Asia-Pacific held the major share in 2020, garnering around one-third of the global electrostatic precipitator market. The same region would also exhibit the fastest CAGR of 4.8% by 2030. The other three provinces discussed in the report include North America, Europe, and LAMEA.
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Electrostatic Precipitator Market Key Players
The leading market players analyzed in the global electrostatic precipitator market report include DUCON, FLSmidth, General Electric, Trion IAQ, Mitsubishi Power, Ltd, S.A. Hamon, John Wood Group PLC, Siemens AG, Babcock & Wilcox Enterprises, Inc., and Thermax Limited. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
The report provides a detailed analysis of these key players in the global market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in the country. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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