Enjoy complimentary customisation on priority with our Enterprise License!
The Selective Catalytic Reduction (SCR) Systems for Coal-fired Plants Market size is estimated to grow at a CAGR of 4.87% between 2023 and 2027. The market size is forecast to increase by USD 759.19 million. The growth of the market depends on several factors, such as better power generation technology, availability of coal at low prices, and stringent emission control regulations.
This report extensively covers market segmentation by application (large-scale power plant and small-scale power plant), type (denox and desox), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Selective Catalytic Reduction (SCR) Systems Market for Coal-fired Plants Market Forecast 2023-2027
To learn more about this report, Request Free Sample
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The major concern for all countries is to reduce the emission of carbon dioxide and to reduce energy utilization to reduce cost. The production of electricity contains both carbon dioxide emissions and also represents an enormous amount of energy consumption. The use of better electricity generation technology is anticipated to reduce carbon dioxide emissions and save on energy.
Moreover, the electrical power generation industry is the major end-user of coal. Research is ongoing for ultra-supercritical units which are capable of operating at even higher efficiencies, possibly up to 50%. The new technologies can help in reducing emissions, and this, in turn, can increase the use of coal in the forecast period.
The tightening of environmental regulations has made NOx emission control from coal-fired plants a universal requirement for choosing the plant site and licensing. Hence, to ensure the compliance of coalfired plant operators with strict regulations, technologically advanced systems are currently in development.
Moreover, the company's patented hood design, with no turning vanes, eliminates the accumulation of ash on the catalyst. In addition, it ensures economic efficiency and regulatory compliance by coal-fired plant operators. Thus, technologically advanced SCR systems are expected to provide superior performance, thus propelling the growth of the global selective catalytic reduction systems for coal-fired plants market for coal-fired plants during the forecast period.
Stringent regulations for the depletion in NOx emissions from coal-fired plants have compelled operators globally to contemplate the adoption of various NOx control technologies such as low NOx combustion technologies or post-combustion technologies. Hence, there is an increasing interest in SCR systems to reduce NOx emissions.
Additionally, catalysts used in SCR systems have a finite lifetime in the flue gas, while some amount of ammonia slips through without taking part in the reaction. During the course of their operation, SCR systems are also highly susceptible to leakage and contamination. Low NOx burners virtually incur no operation and maintenance or reagent costs. Thus, low-cost alternatives would limit the growth of the global SCR systems market for coal-fired plants.
The large-scale power plant segment will account for a major share of the market's growth during the forecast period. Large-scale coal-fired plants have a capacity greater than 300 MW. In general, electricity is supplied to the grid by large-scale coal-fired plants. These plants reduce the costs per unit of power generated as the cost gets spread over a large base.
Get a Customised Report as per your requirements for FREE!
The large-scale power plant segment was valued at USD 1,600.69 million in 2017 and continued to grow until 2021. In order to meet the increasing demand for energy, large-scale coal-fired power plants are being commissioned around the world. These plants would have to install emission control technologies to comply with stringent government regulations for NOx reduction. Thus, the global SCR systems for coal-fired plants market is expected to grow rapidly during the forecast period.
Based on type, the market has been segmented into DeNOx and DeSOx. DeNOx held the largest market share by type in the global SCR systems market for coal-fired plants in 2022. Due to strict government rules and regulations to protect the environment from various polluting and hazardous elements such as carbon monoxide, the adoption of DeNOx systems is on the rise. Filter systems for NOx removal will be needed in order to use coal so much. Thus, more stringent regulations are forcing many coal-fired plants to install DeNOx systems in their plants to minimize nitrogen emissions is expected to fuel the DeNOx systems, fueling the growth of the global SCR systems market for coal-fired plants during the forecast period.
For more insights on the market share of various regions View PDF Sample now!
APAC is estimated to contribute 63% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. In 2022, the major contributing countries to the selective catalytic reduction systems for coal-fired plants market in APAC were China, India, and Japan. APAC accounts for the highest share of the global SCR systems for coal-fired plants market owing to the high installed capacity of coal-fired power generation.
Moreover, the new coal-fired power plants have been built in some of the SE Asia countries, which has led to significant demand for coal-fired generation in this region. In addition, in the next ten years, there will be 36 new coal power plants being built in Japan. Similarly, the Government of Bangladesh has committed to substantial growth in the coal-fired power capacity, which can lead to a rise in the share of coal in the power generation mix. On similar lines, coal plays a major role in Thailand's energy mix. Coal-fired power generation is expected to grow in APAC during the forecast period.
The COVID-19 pandemic in 2020 had an adverse impact on several countries in the region. However, in 2021, construction activities in coal-fired plants resumed owing to the increased vaccination drives in the region conducted by the governments. Also, several countries in the region are trying to reduce their carbon emissions, which would facilitate the adoption of advanced SCR systems. Thus, the regional SCR systems for coal-fired plants market is expected to witness significant growth during the forecast period.
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.
ALSTOM SA- The company offers selective catalytic reduction systems for coal fired plants such as the IsoSwirl mixing system for higher removal efficiency of NOx, more effective use of ammonia, and reduced ammonia slip, which are the key performance requirements of an SCR system.
We also have detailed analyses of the market’s competitive landscape and offer information on 15 market companies, including:
Andritz AG, Babcock Power Inc., CECO Environmental Corp., CORMETECH Inc., Doosan Corp., Ducon, Duke Energy Corp., Fuel Tech Inc., General Electric Co., Hitachi Zosen Corp., Integrated Global Services Inc., Mitsubishi Hitachi, and Yara International ASA
Technavio 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.
The selective catalytic reduction (SCR) systems market for coal-fired plants market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Selective Catalytic Reduction (SCR) Systems Market For Coal-fired Plants Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
167 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.87% |
|
Market growth 2023-2027 |
USD 759.19 million |
|
Market structure |
Concentrated |
|
YoY growth 2022-2023(%) |
3.85 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 63% |
|
Key countries |
US, China, India, Japan, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
ALSTOM SA, Andritz AG, Babcock Power Inc., CECO Environmental Corp., CORMETECH Inc., Doosan Corp., Ducon, Duke Energy Corp., Fuel Tech Inc., General Electric Co., Hitachi Zosen Corp., Integrated Global Services Inc., Mitsubishi Hitachi, and Yara International ASA |
|
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 report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
