Latest News- Selective Catalytic Reduction (SCR) Systems Market for Coal-fired Plants: Large-scale power plant is expected to lead the Application segment during 2024-2028

The Selective Catalytic Reduction (SCR) Systems Market for Coal-fired Plants is being driven by Stringent emission control regulations

The Selective Catalytic Reduction (SCR) Systems Market for Coal-fired Plants is expected to grow at a CAGR of 6.42% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.07 billion. In the coal-fired power generation industry, stringent environmental regulations necessitate the implementation of advanced emission control systems, such as Selective Catalytic Reduction (SCR), to ensure compliance. One challenge with SCR systems is ammonia slip, where unreacted ammonia may pass through the catalyst due to over-injection, resulting in increased operational and maintenance costs. Mitsubishi Heavy Industries Ltd., a leading vendor, addresses this issue with its Zero Slip ammonia SCR system and mercury oxidation capabilities. This proprietary technology enables more than 90% capture of flue gas from NO exhaust, thereby mitigating ammonia slip and enhancing overall system efficiency and environmental performance. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Large-scale power plant
  • Small-scale power plant
• Type
  • DeNOx
  • DeSOx
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Stringent emission control regulations
• Enhancements in power generation technology
• Availability of coal at low prices

However, the market also witnesses some limitations, which are as follows:

• High maintenance cost of SCR systems
• Challenges associated with use of SCR catalysts
• Phasing out of coal-fired power plants

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Market Scope in Selective Catalytic Reduction (SCR) Systems Market for Coal-fired Plants Research Report

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Research Analysis Overview

The Selective Catalytic Reduction (SCR) Systems market caters to power generation industries, particularly coal-fired plants, to reduce NOx emissions. SCR technology uses reductant like AdBlue, derived from urea, for efficient NOx reduction. Advanced control technologies ensure real-time monitoring and cost-effectiveness. SCR finds applications in various sectors, including maritime, vehicles, aviation, and industrial processes. Sustainability is a key driver, with zero-emission solutions in EVs and industrial sectors gaining traction. Catalysts play a crucial role in the SCR process, improving fuel efficiency and reducing health hazards from nitrogen oxides and nitrous oxide. Industrial activity and environmental awareness necessitate effective emission control solutions, with SCR offering sustainable and cost-effective alternatives for ICEs in gasoline and diesel vehicles.

Market Research Overview

The Selective Catalytic Reduction (SCR) systems market for coal-fired plants is a significant segment of the global industrial machinery market, which encompasses companies manufacturing industrial machinery and components. This market's expansion is driven by the increasing demand for industrial machinery in sectors such as process and discrete industries, including energy, chemicals and petrochemicals, pulp and paper, and processed food and beverages, due to the economic growth of developing nations. SCR systems play a crucial role in renewable energy, sustainable development, and climate change mitigation by improving air quality and reducing pollution from coal-fired power plants. Furthermore, SCR technology contributes to engine optimization, fuel efficiency, and diesel emissions control, aligning with the circular economy and green transportation initiatives. Technavio projects that the global industrial machinery market will experience growth due to these factors, leading to increased demand for SCR systems in coal-fired plants.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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