Stationary Catalytic Systems Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at CAGR of XX % in the forecasting Period.
Regulatory norms toward industrial emission together with growing concerns related to GHG emission will drive the global stationary catalytic systems market. In the U.S., various regulations are being implemented towards industrial emission including National Ambient Air Quality Standards (NAAQS) that has been imposed on industries to regulate the industrial pollutant emissions.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Coal-fired boiler replacement program in China will foster the industry growth during the current forecast period. In 2012, China has retrofitted 400,000 MW of existing coal-fired boilers with selective catalytic reduction. Since the average life of the catalyst is around 3 to 5 years. So, it has been analysed that it will positively encourage the replacement of the catalytic system in 2017.
Increasing adoption of oxidation catalysts to control pollutant emission from gas turbine power generators is anticipated to drive stationary catalytic systems market in future. Additionally, wide application of catalytic incineration process at chemical, refining, metal and food industry in Asia will further complement the industry growth in future. Increasing demand for electricity along with growing population and rapid industrialization is set to drive the stationary catalytic systems market in upcoming years.
Stationary catalytic systems market is majorly segmented by the technology, application and region. Based on the technology segment, stationary is expected to have the higher growth rate in the current forecast period of 2018-2026. It is used to oxidize volatile organic compound from solvent evaporation by using metal oxides such as copper oxide, chromium oxide, nickel oxide and manganese dioxide. It has wide application in resin production, organic chemicals production and rubber & polymers production.
Under applications segment, chemical and petrochemical are expected to higher growth rate through 2026 owing to rising petrochemical product demand. In addition to this, increasing focus on infrastructure development mainly in developing countries will further stimulate the market growth where the cement industry applications have held over 5% of global stationary catalytic systems market share in 2015 itself.
Asia-Pacific held the highest market share in 2017 and is expected to have the higher growth rate in the current forecast period. The growth rate is coupled with China stationary catalytic systems market. It is expected to see strong growth due to the presence of a large number of power plants. For example, as of 2016, a 200,000 MW of coal-fired power plant was under construction in China for boosting the power plant supply.
Key player across the stationary catalytic systems industry are Johnson Matthey, DCL International Inc., BASF, and Babcock & Wilcox Enterprises. Major participants are investing heavily in the research and development sector to develop the new product which is expected to positively encourage the business growth.
Stationary Catalytic Systems Market Scope
Stationary Catalytic Systems Market, By Technology
• Selective Catalytic Reduction
• Catalytic Oxidation
Stationary Catalytic Systems Market, By Application
• Power Plants
• Chemicals & Petrochemicals
Stationary Catalytic Systems Market, By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Stationary Catalytic Systems Market :
• Johnson Matthey
• DCL International Inc.
• Babcock & Wilcox Enterprises
• Amec Foster Wheeler
• Ducon Technologies
• APC technologies
• Air Clean LLC
• Hamon Corporation
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current stationary catalytic systems market outlook. The report encompasses the stationary catalytic systems market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the stationary catalytic systems Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain stationary catalytic systems market positioning of competitors.
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