Europe Stationary Catalytic Systems Market in 2018 was valued over USD 700 million. Rising environment concerns along with stringent norms and mandates to regulate NOx emissions will drive the market growth. Introduction of policies including the National Environmental Education Act & Clean Air Act (CAA) with an aim to limit pollution level will positively influence the industry landscape. Stringency in these norms coupled with application of financial penalties in the situation of noncompliance will further support the business outlook.
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Rapid industrialization, increasing electricity consumption, and introduction of energy efficient standards will positively influence the stationary catalytic systems market growth. Ongoing R&D activities along with increasing investments to develop technologically advanced systems will boost the product demand. In addition, rising significance of energy management & optimization across the industries is set to complement the industry landscape.
Germany stationary catalytic systems market will witness growth on account of rising concerns toward NOx emissions from the industries and power plants along with introduction of directives with an aim to combat pollution. Increasing foreign direct investments owing to tax inversions and mergers & acquisitions is projected to complement the product penetration. Stringency in directives coupled with technological developments to improve SCR features will augment the product installation.
SCR stationary catalytic systems market is anticipated to grow on account of its NOx reduction capability by over 95%. Increasing R&D initiatives accompanied by the improvements in the SCR features along with focus toward reduction of current cost pressure will boost the product adoption. Moreover, growing environmental concerns coupled with rising demand for sustainable technology will complement the business growth.
Power plants application is set to grow on account of rapid industrialization along with increasing electricity consumption. Growing demand for manufactured goods has led to an expansion in processing and manufacturing plants that is encouraging the development of self-regulated power generation plants, in turn fueling the product deployment. In addition, restructuring of existing power plants owing to the focus toward green agenda is one of the primary parameters that will propel the industry landscape.
UK stationary catalytic systems market will grow on account of rising pollutant emissions from existing industries and power plants coupled with ongoing technical advancements to manufacture sustainable units. Moreover, presence of sophisticated infrastructure along with norms & standards toward zero emission building will complement the industry outlook.
Key industry players catering across the stationary catalytic systems market includes MAN Energy Solutions, Agriemach, Johnson Matthey, Hug Engineering, DCL International, AMEC Foster Wheeler, Yara International, CORMETECH, Babcock and Wilcox, Ducon Technologies, and McGill AirClean.
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