The global stationary catalytic systems market is expected to rise at a significant CAGR owing t6o the rising focus on reducing emissions from vehicles and industries. Fortune Business Insights offers a detailed overview of the global inverter duty motor market in a report, titled “Stationary Catalytic Systems Market Size, Share and Global Trend By Technology (Selective Catalytic Reduction System, Oxidation Catalyst System), By End-Use Industry (Chemical, Oil and Natural Gas, Power Plant, Metal & Mining, Cement, Others) and Geography Forecast till 2028.” The report further highlights information on the detailed overview of the market by stating the importance of stationary catalytic systems in the environment. In addition to this, the report provides valuable insights into prevailing market trends and opportunities in the market. These trends can positively impact the demand of these systems, thereby helping stakeholders to understand the market better before investing. The competitive analysis of the market can further help our readers to gain valuable insights into the share of key players.
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Maersk Drilling to Launch a Low Emission Rig
As per the report, some of the key players operating in the global market include:
- Kwangsung Co., Ltd
- Johnson Matthey
- HUG Engineering AG
- Nippon Shokubai Co., Ltd
- Crometech Inc.
- Umicore AG & Co. KG
- DCL International Inc.
- Hitachi Zosen Corporation
- Nett Technologies Inc.
- CECO Co., Ltd
- Babcock and Wilcox Enterprises, Inc.
- Ducon Infratechnologies Limited
- Yara International ASA
Some of the significant developments made by companies are mentioned below:
May 2019: Maersk Drilling announced the launch of a hybrid and low-emission rig. The aim of this rig is to reduce NOx emissions which will be equipped with energy emission efficiency software and selective catalytic reduction units.
April 2019: GEA Group received a contract from Thomas Zement GmbH & Co. KG to reduce NOx emissions in the flue gas. This contract encompasses two selective catalytic reduction systems which include effective handling of the flue gas transport through induced draft (ID) fans and integration into the Erwitte cement site.
Key Market Driver – Growth of Chemical and Automotive Industry
Key Market Restraint – Availability of alternative technology
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The market is expected to gain traction from the rise in strict regulations with regards to different greenhouse gas emissions such as nitrogen dioxide, sulphur dioxide, carbon monoxide, and carbon dioxide. This further caught the attention of several manufacturers and encouraged them to develop stationary catalytic systems to control levels of these emission gases. The rising concerns with regards to increasing environmental pollution are expected to drive the market. The Environmental Protection Agency (EPA) in the U.S. announced the introduction of a new law under for reducing the emissions that are responsible for climate change. EPA decided to continue working with National Ambient Air Quality Standards or NAAQS for reducing emissions of Nitrogen Oxide. With the growth in the chemical industry, the sales of these systems is expected to increase in the foreseeable future. All these factors are expected to drive the market in the forthcoming years.
Key Segmental Overview:
1. By Technology
- Selective Catalytic Reduction System
- Oxidation Catalyst System
2. By End-Use Industry
- Oil and Natural Gas
- Power Plant
- Metal & Mining
3. By Geography
- Oil and Natural Gas
- Power Plant
- Metal & Mining
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Major Table of Content For Stationary Catalytic Systems Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- North America Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- Europe Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- Asia Pacific Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- The Middle East and Africa Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- Latin America Stationary Catalytic Systems Market Analysis, Insights and Forecast, 2028
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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