Pertaining to the rapidly increasing rate of air pollution, electrostatic precipitator system market size has observed a commendable rise since the last half a decade. Given the crucial role that electrostatic precipitators play in environmental protection, regulatory bodies have enforced a set of stringent norms that pollution-emitting entities are required to follow. This is particularly true for power generation stations and industrial facilities that constantly emit dust and gaseous pollutants. In fact, it has been observed that for treating various gaseous pollutants such as NOx and VOC, many chemical and power generation industries have deployed new ESP technologies. This goes on to validate that the robust deployment of these systems across the expanding industrial sector is slated to boost electrostatic precipitator system industry share over the years ahead.
Emission control devices have numerous revenue benefits, on the grounds of which many coal-fired power plants are increasingly deploying ESPs for collecting dust from flue gas. Providing evidence to the aforementioned fact is Taichung’s latest upgradation of ESPs. The Taiwan-based power plant, one of the largest coal-fired power plants in the world in fact, has deployed a total of ten electrostatic precipitators for a long while, and is now upgrading the same. One of the reasons why companies such as Taichung have been focusing on enhancing ESP performance is the deployment of stringent regulatory norms regarding emissions. Such initiatives have indeed helped power generation companies maintain the performance of their power plants within environmental parameters. It is undeniable thus, that the increasing acceptance for emission control devices for power plant applications is poised to transform electrostatic precipitator system market trends.
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Adoption of ESPs aside, it has been observed that chemical producing companies and power generation facilities have also been investing in the renovation and modernization of filtration systems. The main goal here is to bring down the emission of polluting particles below the concerned level complying with the standard environmental guidelines. Last year, Doosan Power Systems India Pvt had planned to install air quality control systems at its power plant with regards to which the firm had given an order of INR 327.5 crore to GE Power to supply air quality control systems. Through this contract, the company plans to implement four ESPs to reduce particulate matter, which will help it to meet air quality regulation standards set by Indian government. In addition to this, in December 2017, BHEL has received an order of INR 215 crore for the modernization and renovation of electrostatic precipitators at Super Thermal Power Station, Kahalgaon located in Bihar. The renovation of ESPs will enable this plant to meet new norms formed by Ministry of Environment, Forest and Climate Change.
The aforementioned initiatives aptly indicate the efforts put in by EPS market firms to reduce emissions and adhere by the set standards. Additionally, these initiatives also prove that India is expected to emerge as a pivotal avenue for this industry in the years ahead, given the rapid pace at which the industrial sector of the country has been developing. For the record, India electrostatic precipitator industry size is forecast to be pegged at USD 800 million by the end of 2024.
A majority of the players in electrostatic precipitator system market, in order to collect more revenue, have been centralizing their focus on the development of customer-centric products. Since natural gas power generation facility owners and other end-users are looking forward to adopting advanced air filtration systems for reducing hazardous particulate matter, companies have been stringently deploying the tried-and-tested growth strategies as well. In 2017 for example, B&W Enterprises Inc., one of the leading giants in electrostatic precipitator system market acquired Universal Acoustic & Emission Technologies Inc. to enhance its portfolio in custom-engineered acoustic and filtration solutions. With the combined efforts of the regulatory firms and regional governments as well as the established industry players, electrostatic precipitator market is expected to surpass revenue collection of USD 8 billion by the end of 2024.