Flue Gas Desulfurization (FGD) System Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, India, Germany, Russia - Size and Forecast 2024-2028

Published: Dec 2023 Pages: 178 SKU: IRTNTR72946

FGD System Market Analysis and Growth Opportunities

The global FGD system market is projected to reach a value of USD 3.88 billion with a CAGR of 5.41% between 2023 and 2028. The growth of the market depends on several factors such as stringent standards for sulfur oxide emission, growing demand for power and implementation of new emission norms in industries. 

The market growth and forecasting report includes a comprehensive outlook on the  market offering forecasts for the industry segmented by Product, which comprises wet FGD and dry FGD. Additionally, it categorizes End-user into power plants, iron and steel, chemicals, cement, and others and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The market trends and analysis report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
 

Global Market Size and Forecast

Market Forecast 2024-2028

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Market Overview: Market Trends and Drivers, Challenges

This market growth analysis report includes the major drivers, trends, and challenges that will help market players stay ahead of their competitors. The market is focused on technologies that remove sulfur dioxide from flue gases produced by power plants and industrial processes.

The global FGD system market is projected to grow at a significant rate due to stricter environmental regulations regarding emissions. Most coal-fired power plants worldwide are equipped to reduce emissions. More than half of the systems installed globally use wet scrubbing technology due to its high efficiency in removing pollutants.

Driver

The power and manufacturing sectors have been the major sources of air pollution, with marine transportation joining the list in the last few decades. Combustion of fossil fuels in coal-fired power plants, manufacturing facilities, and marine transport releases SO2 and various nitrogen oxides, which, upon reaction with atmospheric moisture and oxygen, form sulfuric and nitric acid fumes, ultimately leading to acid rain. This acidic water robs the soil of its essential nutrients, many a time inhibiting the reproduction capabilities of trees while also doing considerable damage to associated ecosystems.

Also, there are adverse effects on human health in terms of direct or indirect exposure to sulfur oxides, with problems ranging from cardiovascular diseases to premature death. Hence, the need for the removal of toxic contaminants like SO2, mercury, and particulate matter at their source becomes paramount which can have a positive impact on flue gas desulphurization market growth. Therefore, stringent standards for sulfur oxide emission will positively impact the growth of the market during the forecast period.

Trends

Wet FGD and dry FGD are the two technologies used significantly. Wet systems are the preferred choice among all end-users. Wet scrubbers are widely popular in large plants that require the high-capacity removal of sulfur. Among all end-users, the power generation segment extensively uses wet scrubbers due to their higher efficiency than dry scrubbers. In a highly competitive environment, especially in the power generation industry, where competition is intense due to the wide availability of natural gas and renewable energy sources, the power generator sector is looking for cost-effective FGD solutions. Dry systems do not use any liquid stream.

Consequently, they have low power consumption, operational and maintenance costs, and freshwater consumption. The absence of a liquid stream eliminates the issues associated with disposal, which is a major issue in wet systems. Hence, the preference for dry systems is increasing which in turn results in flue gas desulfurization market expansion. Thus, it is expected that the demand for dry FGD systems will grow steadily, thereby driving the market growth and trends in the forecast period.

Future Growth Prospects

The future growth prospects of the market are dynamic and influenced by various factors. Governments, particularly in Japan and the Asia Pacific, are driving adoption through stringent regulations to curb emissions. While Latin America faces some restraints due to economic challenges, the market's trajectory is positive globally. Flare gas recovery systems are finding diverse applications, and their adoption is set to escalate as governments worldwide intensify efforts to combat environmental issues. With a focus on sustainable practices, the Asia Pacific and Japan are poised to play a pivotal role in shaping the market's future, marking a paradigm shift in pollution control strategies.

Market Challenges and Opportunities 

An electrostatic precipitator is followed by the primary desulfurization unit, a scrubber, and an in-line steam reheater in a normal system. This energy-intensive technology accounts for around 2.5%-6% of a coal-fired power plant's overall energy output capacity. As a result, operational expenses skyrocket, rendering reactors with capacities less than 500 MW economically unviable. The reheater, water, slurry pumps, and tank agitation all consume a significant amount of energy.

Additionally, scrubber design, coal properties, plant design, and regulatory limits are all elements that determine energy consumption patterns. These high energy needs are a significant impediment to the growth of the flue gas desulfurization system market. Thus, the high energy consumption in power plants will hamper the growth of the market during the forecast period.

Market Segmentation by Product, End-user and Geography

Product Segment Analysis: 

The wet FGD segment is estimated to witness significant growth during the forecast period. Wet systems are the most commonly used technology, which use limestone or lime to scrub the sulfur dioxide from flue gases.
Dry and semi-dry systems are gaining popularity due to their lower water consumption and ease of installation. In a wet system, the flue gases are washed with an aqueous solution of absorbent. The absorbent reacts with the sulfur present in the flue gases to form a different chemical compound that is later removed to provide pollutant-free gases

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The wet FGD was the largest and was valued at USD 9.16 billion in 2018.  However, wet systems are more expensive than dry systems. Also, they incur high operational and maintenance costs owing to the increased use of water, which requires high power consumption. In addition, the presence of moisture in a wet system makes it prone to corrosion, which, in turn, adds to the operational and maintenance costs. The liquid purge stream contains a high amount of dissolved sulfate, chlorides, traces of mercury and oxides of arsenic, boron, and selenium, which should be disposed of completely. In addition, it generates a large amount of wastewater. Stringent regulations are enforced on wastewater disposal and treatment. This, in turn, can hinder the demand for wet FGD systems, which is expected to moderately impact the growth of the market during the forecast period.

End-user Segment Analysis: 

Based on end-user, the market has been segmented into power plants, iron and steel, chemicals, cement, and others. The power plants segment will account for the largest share of this segment. Sulfur dioxide (SO2) is a harmful gas created by the oxidation of sulfur-bearing materials such as oil, coal, and natural gas. SO2 emission is a major problem in the power generation industry. Furthermore, global economic growth, especially in developing countries, is likely to witness a rapid increase in power demand. The growing per capita income in these economies has promoted the widespread use of consumer electronic devices and appliances, which add to electricity consumption. Therefore, the rising electricity demand is likely to attract investments in the development of power infrastructure. These factors, in turn, will drive the growth of the power plants segment of the market during the forecast period.

Regional Analysis of FGD System Market

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The Asia-Pacific region holds the largest share of the market, accounting for approximately 69% of the global market. The Asia Pacific region dominates the market, driven by rapid industrialization and increasing energy demand in countries like China and India. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. 

The region's electricity generation heavily relies on coal-fired power plants, leading to a surging demand for effective emission control systems. China, India, and Southeast Asia contribute significantly to the regional demand for coal-based power generation. China saw a 4% increase in coal-fired power capacity in 2021, with India experiencing a notable 13% rise.

Despite the growth in alternative energy sources like natural gas, solar, and wind, coal remains a prominent choice. The anticipated investment exceeding USD 1.75 million in emission control systems highlights the market potential in India. Ducon, a key player, stands to benefit from this opportunity, having successfully implemented installations, including a 500 MW seawater system at the Dahanu power plant and a 2 x 600 MW Limestone FGD system at Udupi Power Plant. The ongoing proposals further position Ducon as a pivotal player, indicating substantial market growth driven by the prevailing reliance on coal-fired power plants in the region.

FGD System Types

Flue Gas Desulfurization (FGD) systems play a crucial role in mitigating emissions from industrial processes worldwide. Governments, particularly in Asia Pacific and Japan, have been implementing stringent regulations to curb environmental pollution. Various system types address diverse applications, and their adoption is witnessing a significant uptick around the globe. While some regions, like Latin America, are grappling with restraints in implementing these technologies due to economic challenges, others are making strides in achieving emission reduction targets. Government initiatives are pivotal in driving Flue Gas Desulfurization system adoption, with Asia Pacific and Japan leading the way in fostering sustainable practices to combat environmental challenges.

Application Areas of FGD Systems

Flue Gas Desulfurization (FGD) systems find diverse applications across industries, responding to concerns about environmental impact and compliance with stringent laws. In cement manufacturing, Flue Gas Desulfurization systems, like those offered by Marsulex Environmental Technologies, play a pivotal role in reducing emissions. The pulp and paper industry also utilizes these systems to address environmental regulations. General Electric Company, a key player in the energy sector has come up with the introduction to FGD solutions to meet rising global energy demand. With an executive summary highlighting their effectiveness, FGD systems are gaining dominance in various sectors, showcasing their versatility in mitigating environmental challenges and aligning with evolving regulatory frameworks.

Key Market Players

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AECOM - The company offers flue gas desulfurization systems such as the Bull Run.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including AECOM, Andritz AG, Babcock and Wilcox Enterprises Inc., China Boqi Environmental Protection Holding Co. Ltd, Doosan Corp., Ducon Infratechnologies Ltd., Enviropol, FLSmidth and Co. AS, Fujian Longking Co. Ltd., General Electric Co., IHI Corp., John Wood Group PLC, Kawasaki Heavy Industries Ltd., KraftPowercon Sweden AB, Mitsubishi Heavy Industries Ltd., RAFAKO SA, Rudis Doo Trbovlje, Thermax Ltd., Tsukishima Kikai Co. Ltd., and Valmet Corp. 

Technavio's market analysis and report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Competitive Landscape

In the competitive landscape of the market, suppliers globally are responding to heightened awareness and market demand for pollution control. With industrialization accelerating across the world, especially in regions like Mexico, technologies are gaining prominence. Suppliers are strategically positioning themselves to offer retrofit solutions, addressing the byproduct gypsum's value in various applications. Clients prefer evolving, emphasizing sustainable practices and compliance with stringent regulations. As the market expands, the competition intensifies, and suppliers strive to innovate and meet the dynamic demands of the evolving environmental landscape, marking a pivotal phase in pollution control technology.

Segment Overview

The flue gas desulfurization (FGD) system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Product Outlook 
    • Wet FGD
    • Dry FGD
  • End-user Outlook 
    • Power plants
    • Iron and steel
    • Chemicals
    • Cement
    • Others
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Scope

Report Coverage

Details

Page number

178

Base year

2023

Historic period

 2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.41%

Market Growth 2024-2028

USD 3.88 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

4.87

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 69%

Key countries

US, China, India, Germany, and Russia

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

AECOM, Andritz AG, Babcock and Wilcox Enterprises Inc., China Boqi Environmental Protection Holding Co. Ltd, Doosan Corp., Ducon Infratechnologies Ltd., Enviropol, FLSmidth and Co. AS, Fujian Longking Co. Ltd., General Electric Co., IHI Corp., John Wood Group PLC, Kawasaki Heavy Industries Ltd., KraftPowercon Sweden AB, Mitsubishi Heavy Industries Ltd., RAFAKO SA, Rudis Doo Trbovlje, Thermax Ltd., Tsukishima Kikai Co. Ltd., and Valmet Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our market research and growth report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Forecasting Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of flue gas desulfurization (FGD) system market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global flue gas desulfurization (FGD) market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global flue gas desulfurization (fgd) market 2018 - 2022 ($ billion)
    • 4.2 Product Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
    • 4.3 End-user Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Product - Market share 2023-2028 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Wet FGD - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Wet FGD - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Wet FGD - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Wet FGD - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Wet FGD - Year-over-year growth 2023-2028 (%)
    • 6.4 Dry FGD - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Dry FGD - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Dry FGD - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Dry FGD - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Dry FGD - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ billion)
      • Exhibit 43: Data Table on Market opportunity by Product ($ billion)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 44: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on End-user - Market share 2023-2028 (%)
    • 7.2 Comparison by End-user
      • Exhibit 46: Chart on Comparison by End-user
      • Exhibit 47: Data Table on Comparison by End-user
    • 7.3 Power plants - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Power plants - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 49: Data Table on Power plants - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 50: Chart on Power plants - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Power plants - Year-over-year growth 2023-2028 (%)
    • 7.4 Iron and steel - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Iron and steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Data Table on Iron and steel - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 54: Chart on Iron and steel - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Iron and steel - Year-over-year growth 2023-2028 (%)
    • 7.5 Chemicals - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Chemicals - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Chemicals - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Chemicals - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Chemicals - Year-over-year growth 2023-2028 (%)
    • 7.6 Cement - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Cement - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Cement - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Cement - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Cement - Year-over-year growth 2023-2028 (%)
    • 7.7 Others - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.8 Market opportunity by End-user
      • Exhibit 68: Market opportunity by End-user ($ billion)
      • Exhibit 69: Data Table on Market opportunity by End-user ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 71: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 72: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 73: Chart on Geographic comparison
      • Exhibit 74: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.7 South America - Market size and forecast 2023-2028
      • Exhibit 91: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 95: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 India - Market size and forecast 2023-2028
      • Exhibit 99: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.10 US - Market size and forecast 2023-2028
      • Exhibit 103: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.11 Germany - Market size and forecast 2023-2028
      • Exhibit 107: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.12 Russia - Market size and forecast 2023-2028
      • Exhibit 111: Chart on Russia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on Russia - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on Russia - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on Russia - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 115: Market opportunity by geography ($ billion)
      • Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 117: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 119: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 120: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 121: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 122: Matrix on vendor position and classification
            • 12.3 AECOM
              • Exhibit 123: AECOM - Overview
              • Exhibit 124: AECOM - Business segments
              • Exhibit 125: AECOM - Key news
              • Exhibit 126: AECOM - Key offerings
              • Exhibit 127: AECOM - Segment focus
            • 12.4 Andritz AG
              • Exhibit 128: Andritz AG - Overview
              • Exhibit 129: Andritz AG - Business segments
              • Exhibit 130: Andritz AG - Key news
              • Exhibit 131: Andritz AG - Key offerings
              • Exhibit 132: Andritz AG - Segment focus
            • 12.5 Babcock and Wilcox Enterprises Inc.
              • Exhibit 133: Babcock and Wilcox Enterprises Inc. - Overview
              • Exhibit 134: Babcock and Wilcox Enterprises Inc. - Business segments
              • Exhibit 135: Babcock and Wilcox Enterprises Inc. - Key news
              • Exhibit 136: Babcock and Wilcox Enterprises Inc. - Key offerings
              • Exhibit 137: Babcock and Wilcox Enterprises Inc. - Segment focus
            • 12.6 Doosan Corp.
              • Exhibit 138: Doosan Corp. - Overview
              • Exhibit 139: Doosan Corp. - Business segments
              • Exhibit 140: Doosan Corp. - Key offerings
              • Exhibit 141: Doosan Corp. - Segment focus
            • 12.7 Ducon Infratechnologies Ltd.
              • Exhibit 142: Ducon Infratechnologies Ltd. - Overview
              • Exhibit 143: Ducon Infratechnologies Ltd. - Product / Service
              • Exhibit 144: Ducon Infratechnologies Ltd. - Key offerings
            • 12.8 Enviropol
              • Exhibit 145: Enviropol - Overview
              • Exhibit 146: Enviropol - Product / Service
              • Exhibit 147: Enviropol - Key offerings
            • 12.9 FLSmidth and Co. AS
              • Exhibit 148: FLSmidth and Co. AS - Overview
              • Exhibit 149: FLSmidth and Co. AS - Business segments
              • Exhibit 150: FLSmidth and Co. AS - Key news
              • Exhibit 151: FLSmidth and Co. AS - Key offerings
              • Exhibit 152: FLSmidth and Co. AS - Segment focus
            • 12.10 General Electric Co.
              • Exhibit 153: General Electric Co. - Overview
              • Exhibit 154: General Electric Co. - Business segments
              • Exhibit 155: General Electric Co. - Key news
              • Exhibit 156: General Electric Co. - Key offerings
              • Exhibit 157: General Electric Co. - Segment focus
            • 12.11 John Wood Group PLC
              • Exhibit 158: John Wood Group PLC - Overview
              • Exhibit 159: John Wood Group PLC - Business segments
              • Exhibit 160: John Wood Group PLC - Key offerings
              • Exhibit 161: John Wood Group PLC - Segment focus
            • 12.12 Kawasaki Heavy Industries Ltd.
              • Exhibit 162: Kawasaki Heavy Industries Ltd. - Overview
              • Exhibit 163: Kawasaki Heavy Industries Ltd. - Business segments
              • Exhibit 164: Kawasaki Heavy Industries Ltd. - Key news
              • Exhibit 165: Kawasaki Heavy Industries Ltd. - Key offerings
              • Exhibit 166: Kawasaki Heavy Industries Ltd. - Segment focus
            • 12.13 KraftPowercon Sweden AB
              • Exhibit 167: KraftPowercon Sweden AB - Overview
              • Exhibit 168: KraftPowercon Sweden AB - Product / Service
              • Exhibit 169: KraftPowercon Sweden AB - Key offerings
            • 12.14 Mitsubishi Heavy Industries Ltd.
              • Exhibit 170: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 171: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 172: Mitsubishi Heavy Industries Ltd. - Key news
              • Exhibit 173: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 174: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 12.15 Thermax Ltd.
              • Exhibit 175: Thermax Ltd. - Overview
              • Exhibit 176: Thermax Ltd. - Business segments
              • Exhibit 177: Thermax Ltd. - Key news
              • Exhibit 178: Thermax Ltd. - Key offerings
              • Exhibit 179: Thermax Ltd. - Segment focus
            • 12.16 Tsukishima Kikai Co. Ltd.
              • Exhibit 180: Tsukishima Kikai Co. Ltd. - Overview
              • Exhibit 181: Tsukishima Kikai Co. Ltd. - Business segments
              • Exhibit 182: Tsukishima Kikai Co. Ltd. - Key offerings
              • Exhibit 183: Tsukishima Kikai Co. Ltd. - Segment focus
            • 12.17 Valmet Corp.
              • Exhibit 184: Valmet Corp. - Overview
              • Exhibit 185: Valmet Corp. - Business segments
              • Exhibit 186: Valmet Corp. - Key offerings
              • Exhibit 187: Valmet Corp. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 188: Inclusions checklist
                • Exhibit 189: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 190: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 191: Research methodology
                • Exhibit 192: Validation techniques employed for market sizing
                • Exhibit 193: Information sources
              • 13.5 List of abbreviations
                • Exhibit 194: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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