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Report
Asia-Pacific Air Quality Control System Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The Asia-Pacific air quality control system market is expected to register a CAGR of 4.55% during the forecast period 2020-2025. Factors, such as the development of industrial infrastructure, coupled with government-led initiatives to curb the harmful emissions, are expected to provide impetus to the Asia-Pacific air quality control systems (AQCS) market. However, the renewable power generation capacity has increased significantly in the last decade and a similar trend is expected to continue, in turn, increasing the share of renewables in Asia-Pacific power generation during the forecast period, which is likely to restrain the growth of the Asia-Pacific air quality control system in the coming years.
Key Highlights
Among the end-user industries, the power generation industry is assessed to have the significant share of the market studied during the forecast period, followed by the cement and iron and steel industries.
The high efficiency, low emission (HELE) coal fired power plants have been installed in countries, such as China and India. This type of power plant requires high efficiency AQCS, in order to achieve low emissions. This is likely to open new avenues for advanced AQCS-related investments by the end-user industries during the forecast period.
China is expected to be the significant market for AQCS during the forecast period.
APAC Air Quality Control System Market Trends
Power Generation Industry Segment to Witness Significant Growth
Power plants are the largest sources of emission of SO2, mercury, and acid gases. In the power sector, coal accounts for about 98% of SO2 emissions, 94% of mercury emissions, 86% of NOx emissions, and 83% of fine particulate emissions.
The growing concerns regarding environmental pollution and the governments' actions to curb the same are driving the growth of the AQCS market. Stringent international and government regulations, such as the Clean Air Act (CAA) and the Mercury and Air Toxics Standards, enforce the installation of systems that monitor and curb emissions to bring them to a safer level in power generation companies using fossil fuels.
Further, despite the shrinking number of coal-based power plants globally, the countries (such as India) are still endorsing the new coal-based power generation projects. About 40 GW of the country's coal plants are either financially stressed or are at the risk of bankruptcy. Less than 3 GW of new capacity was commissioned in 2018, compared to 39 GW in 2010. Low plant-load factors, largely due to overcapacity and competition from cheaper renewables, have made it difficult for the coal plants to recover their investments. Despite these unfavorable market conditions for coal-based power, the government continues to invest in new plants.
In February 2019, the Cabinet Committee on Economic Affairs (CCEA) approved the investments worth INR 11,089 crore and INR 10,439 crore into two power plants, Khurja (Uttar Pradesh) and Buxar (Bihar), respectively. The installation of Wet Flue Gas Desulphurization (Wet FGDs) is expected to take 33 months for the first unit and 39 months for the second unit from the date of award of the contract.
Additionally, in October 2018, GE Power India announced that it received a contract worth USD 247 million from NTPC for the installation of AQCS at four of its power plants.
Hence, the power industry is expected to witness significant growth for AQCS during the forecast period.
China is Expected to Witness Significant Growth
The rapid growth in the Chinese economy, particularly the industrial sector, including power generation, cement manufacturing, and chemicals and metal processing, has led to significant growth in the emission of air pollutants in the country.
Hence, the Government of China has recognized the severity of air pollution due to high energy consumption and the need to control pollution.
For instance, the State Council of China issued the Air Pollution Prevention and Control Action Plan in September 2013, which sets quantitative targets to improve the air quality in the country within specified time limits.
In addition, all newly constructed and existing power plants have been subjected to mercury emission standards from 2015. These environmental regulations have further propelled the demand for air quality control systems in the country.
As a result, air pollution control systems are being installed in the country. For instance, in August 2019, a coal mining company in Shanxi Province of China decided to adopt a new technology from a company called Anguil to capture ventilation air methane (VAM) and subsequently convert it into electricity.
Hence, factors, such as rising emissions, due to the growth in economic activities and the stringent regulations put forth by the government, have been driving the growth of the air quality control systems market in China.
APAC Air Quality Control System Market Competitor Analysis
The Asia-Pacific air quality control system market is fragmented. Some of key players in this market include Mitsubishi Hitachi Power Systems Ltd, Thermax Ltd, John Wood Group PLC, General Electric Company, and Fujian Longking Co. Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Power Generation Industry
5.1.2 Cement Industry
5.1.3 Chemical Industry
5.1.4 Iron and Steel Industry
5.1.5 Other Applications
5.2 Type
5.2.1 Electrostatic Precipitators (ESP)
5.2.2 Flue Gas Desulfurization (FGD) and Scrubbers
5.2.3 Selective Catalytic Reduction (SCR)
5.2.4 Fabric Filters
5.2.5 Other Types
5.3 Geography
5.3.1 India
5.3.2 China
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Mitsubishi Hitachi Power Systems Ltd
6.3.2 Thermax Ltd
6.3.3 John Wood Group PLC
6.3.4 Babcock & Wilcox Enterprises Inc.
6.3.5 General Electric Company
6.3.6 Fujian Longking Co. Ltd
6.3.7 Gea Bischoff
6.3.8 Hamon Corporation
6.3.9 Horiba Ltd
6.3.10 Andritz AG
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