The research report on the global selective catalytic reduction (SCR) systems market for coal-fired plants by Technavio predicts the market to post a CAGR of more than 3% during the period 2019-2023.
The emissions from coal-fired power generation consist of several hazardous pollutants, such as sulfur dioxide, carbon monoxide, lead, nitrogen dioxide, and ozone particulate matter that can cause adverse effects on the environment and human health. Thus, stringent regulations are being enforced by governments across the globe to protect the environment and safeguard human health. These norms are expected to boost the installation of selective catalytic reduction systems.
As per Technavio, the rising popularity of clean coal technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global selective catalytic reduction systems market for coal-fired plants 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global selective catalytic reduction systems market for coal-fired plants: Rising popularity of clean coal technology
The adoption of clean energy sources such as renewables has been increasing owing to stringent regulations for reducing carbon emissions, thereby leading to a decline in traditional coal-fired power generation. This has resulted in coal-fired plant owners adopting clean coal technologies to continue with their plant operations and ensure compliance with regulations.
Clean coal technologies help in reducing the impact of coal-fired power generation on the environment. This can mitigate the effects of global climate change. Hence, this has led to the adoption of many innovative approaches such as supercritical CO2, direct coal fuel cells, and integrated gasification fuel cells, says a senior research analyst at Technavio.
Global selective catalytic reduction systems market for coal-fired plants: Segmentation analysis
This research report on the selective catalytic reduction systems market for coal-fired plants segments the market by application (large-scale power plant and small-scale power plant) and geography (the Americas, APAC, and EMEA).
The large-scale power plant segment held the largest selective catalytic reduction systems market share in 2018. Large-scale coal-fired plants are being commissioned globally to meet the rising energy demand. These plants would have to install emission control technologies to comply with stringent government regulations for NO reduction. Thus, the global SCR systems market for large-scale coal-fired plants is expected to grow rapidly during the forecast period.
APAC accounted for the highest share of the market in 2018 due to the high installed capacity of coal-fired power generation. In 2018, The major contributing countries to the market in the region are China, India, and Japan.
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Five Forces Analysis
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