Global AQCS Market to Reach $12.8 Billion by 2020
Global Air Quality Control System (AQCS) market is expected to grow between 2016 and 2020 at a CAGR of 7.19% with market value expected to reach around $12.8 billion by 2020. The main factors that will drive growth in the AQCS market toward 2020 are upcoming coal-fired plants, the adoption of emission norms and the expectation of emission norms in countries where currently there are none. Furthermore, revival of AQCS contracts is also expected to play a major role in the growth of the market.
China is expected to lead the AQCS market throughout the 2010–2020 period. It has been one of the fastest growing industrial economies in recent decades. This rapid industrialization has led to a significant increase in electricity demand in the country. This has resulted in many new power plants being set up in the country. Coal-fired plants which contribute 40% of the power installed capacity in the country produce large amounts of emissions.The AQCS market is primarily driven by regulations regarding emissions control in the power sector. There is a marked increase in the demand for AQCS from the power generating industries since they have to adhere to local and federal regulations that mandate the emissions from the power plants. The growth in power demand will drive the demand for air quality control equipment. Capacity addition through coal- and gas-based power projects and stricter regulations, especially in developing countries, are some of the principal drivers for this market.
Power Equipment Report: Air Quality Control System for Thermal Power
Price: $3,995 (Single User License)
Published: Feb 2017
Report Format: electronic pdf