NOIDA, India, Oct. 18, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, theAir Pollution Control Systems Market was valued at more than USD 70 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Product (Scrubbers, Thermal Oxidizers, Catalytic Converters, Electrostatic Precipitators, and Others); Application (Chemical, Iron & Steel, Power Generation, Cement, and Others); Region/Country.
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The Air Pollution Control Systems market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Air Pollution Control Systems market. The Air Pollution Control Systems market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Air Pollution Control Systems market at the global and regional levels.
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Market Overview
The air pollution control systems market is expected to grow at a steady rate of around 5% owing to the surge in consumer and passenger automobile production. The increasing concerns for an environmentally friendly environment would increase the overall demand for air purifiers. This is due to surging industrialization which emits a lot of air pollution which leads to airborne diseases. Moreover, air pollution consists of chemicals or particles in the air that can harm buildings, harm the health of humans, animals, plants and. Pollutants can be gases, solid particles, or liquid droplets. Sources of Air Pollution. Additionally, a powerful air pollution control system is important in the current situation in view of fixing consistency norms, expanded authorization, and elevated local area pressure. For instance, according to World Health Organization (WHO), in 2019, 99% of the world population was living in places where the WHO air quality guidelines levels were not met.
Some of the major players operating in the market include Babcock & Wilcox Enterprises Inc., Daikin Industries Ltd., Donaldson Company Inc., ELEX AG, GEA Group AG, General Electric Company, Hamon Group, MANN+HUMMEL, Mitsubishi Hitachi Power Systems ltd., Thermax Limited.
COVID-19 Impact
Due to travel limitations and the projected dismal financial performance of market players in 2020, the spread of the COVID-19 pandemic affects all industries. Supply chain execution, regulatory and policy changes, labor reliance, working capital management, and liquidity and solvency management are all major concerns for pollution control system manufacturers. Since the COVID-19 epidemic has considerably diminished by the beginning of 2021, a lot of businesses are resuming operations. In terms of demand and supply. Moreover, after the pandemic, there is a boost in the awareness of pollution which will drive market growth in the near future.
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The global Air Pollution Control Systems market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on product, the market is segmented into scrubbers, thermal oxidizers, catalytic converters, electrostatic precipitators, and others. catalytic converters category to witness the fastest growth rate during the forecast period. a catalytic converter is a unit that fits into the front part of the exhaust system of a vehicle, close to the engine, to reduce the pollution of gaseous pollutants, such as carbon monoxide, nitrogen oxides, and hydrocarbons.
- On the basis of application, the air pollution control systems market has been classified into chemical, iron & steel, power generation, cement, and others. The power generation category is to witness a significant growth rate during the forecast period owing to power plants emitting harmful pollutants, including mercury, non-mercury metallic toxins, acid gases, and organic air toxins such as dioxin. In addition, the increasing demand for industrial products and power has seen a rise in industrial activities taking place globally. Which will boost the market growth.
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Air Pollution Control Systems Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the Increasing air pollution in the highly populated APAC region has become a major challenge with poisonous effects on the environment, public health, and agricultural crop yields. However, these problems are creating various opportunities for the air pollution control system market. For instance, in 2019, air pollution was responsible for around 1,667 thousand deaths in India. This number is equivalent to 17.8% of the total deaths in the country. Out of those, 0.98 million deaths are attributable to ambient particulate pollution, while household pollution caused 0.61 million deaths.
The major players targeting the market include
- Babcock & Wilcox Enterprises Inc.
- Daikin Industries Ltd.
- Donaldson Company Inc.
- ELEX AG
- GEA Group AG
- General Electric Company
- Hamon Group
- MANN+HUMMEL
- Mitsubishi Hitachi Power Systems, ltd.
- Thermax Limited.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Air Pollution Control Systems market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Air Pollution Control Systems market?
- Which factors are influencing the Air Pollution Control Systems market over the forecast period?
- What are the global challenges, threats, and risks in the Air Pollution Control Systems market?
- Which factors are propelling and restraining the Air Pollution Control Systems market?
- What are the demanding global regions of the Air Pollution Control Systems market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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Air Pollution Control Systems Market Report Coverage
Report Attribute | Details |
Base year | 2021 |
Forecast period | 2022-2028 |
Growth momentum | Accelerate at a CAGR of over 5% |
Market size 2020 | USD 70 billion |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | APAC to Dominate the Global Air Pollution Control Systems Market |
Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, and India. |
Companies profiled | Babcock & Wilcox Enterprises Inc., Daikin Industries Ltd., Donaldson Company Inc., ELEX AG, GEA Group AG, General Electric Company, Hamon Group, MANN+HUMMEL, Mitsubishi Hitachi Power Systems ltd., and Thermax Limited. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Product; By Application; By Region/Country |
About UnivDatos Market Insights (UMI)
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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