Stationary Catalytic Systems Market Will Surge at 6% CAGR Up to 2025: Global Market Insights, Inc.
The U.S. stationary catalytic systems market will register 5% CAGR from 2019 to 2025 owing to stringent government protocols.
SELLBYVILLE, Del., February 12, 2019 (Newswire.com) - China stationary catalytic systems market is expected to grow owing to introduction of emission norms along with stringency in existing regulations pertaining NOx from power plants and cement industries. The ongoing investments toward the development of new industrial facilities along with the government focus on improving energy efficiency will drive product deployment. In addition, the country emphasized on the enhancement of energy efficiency across various industries under the 13th Five Year Plan for Energy Conservation and Emission Reduction Program that has complemented the product demand.
Global Stationary Catalytic Systems Market is expected to surpass USD 6 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Increasing nitrogen emissions from power plants and other industrial applications along with the growing concerns toward its adverse effects on the environment and human health will complement the stationary catalytic systems market growth. The EPA introduced regulations under National Ambient Air Quality Standards (NAAQS) with an aim to limit nitrogen emissions from boilers and gas turbines. Rising concerns pertaining to NOx emissions along with stringent legislative norms is anticipated to encourage the adoption of Selective Catalytic Reduction Systems (SCRs) & oxidation catalyst.
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Power plants application was valued over 2 billion in 2018. Increasing demand for electricity consumption along with rapid industrialization is anticipated to augment the product deployment. Rising demand for manufacturing activities has led to an expansion of in self-regulated power generating utilities, further encouraging the stationary catalytic systems market growth. In addition, restructuring of aging plants owing to increasing focus on green agenda is one of the underline parameters that will support the industry landscape.
Browse key industry insights spread across 170 pages with 260 market data tables & 26 figures & charts from the report, “Stationary Catalytic Systems Market Size By Technology (Selective Catalytic Reduction System, Oxidation Catalyst), By Application (Power Plants, Chemical & Petrochemical, Cement , Metal, Marine, Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, Italy, Norway, France, Spain, Russia, Denmark, Netherlands, Ukraine, Belarus, China, Japan, India, South Korea, Australia, Vietnam, Indonesia, Saudi Arabia, UAE, South Africa, Nigeria, Angola, Brazil, Argentina, Chile, Peru), Price Trends, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Ongoing R&D investments pertaining to product design and ability to reduce the cost pressure will strengthen the business outlook. In addition, the growing significance of energy management and optimization across the industries coupled with increasing investments toward the development of technologically advanced SCRs is projected to drive the global market growth.
The U.S. market is projected to grow over 5% by 2025. Stringency in government directives along with technological enhancements to improve product features will complement the product demand. Introduction of National Ambient Air Quality Standards (NAAQS) in the U.S. that define air quality levels is anticipated to drive market growth. In addition, replacement of existing infrastructure coupled with ongoing retrofitting activities will strengthen the business landscape.
Growing electricity demand along with increasing efforts to minimize the energy demand-supply gap is projected to complement the stationary catalytic systems market share. Moreover, increasing contribution from major financial institutions including the Asian Development Bank, International Monetary Fund and African Development Bank will positively influence the industry landscape.
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