Stationary Catalytic Systems Market Size By Technology (Selective Catalytic Reduction System, Oxidation Catalyst), By Application (Power Plants, Chemical & Petrochemical, Cement, Metal, Marine, Manufacturing)) & Forecast, 2024 - 2032

Stationary Catalytic Systems Market Size

SStationary Catalytic Systems Market size exceeded USD 5.6 billion in 2023 and is set to witness 5.2% CAGR from 2024 to 2032 owing to the growing energy demand, rapid industrialization, and introduction of energy efficiency standards. According to Environmental Impact Assessment (EIA), the average annual growth in electricity demand from 2017–2050 is anticipated to remain around 0.9%. These systems are increasingly gaining prominence across energy-intensive industries owing to their ability to minimize nitrogen emissions and support clean energy initiatives.

The power plants, cement, metal, and manufacturing industries are some of the key application areas where the product is witnessing a rapid adoption. Stringent government norms and introduction of mandates with an aim to limit NOx and CO emissions will encourage the product deployment.

Ongoing investments toward the development of technologically advanced SCRs along with the growing significance of energy optimization & management across the industries have further encouraged the adoption of these systems. SCRs are primarily installed with utility boilers in power plants and have witnessed a steady progression in deployment due to rising investments toward thermal power generation and infrastructural development globally. The contribution from key financial institutions including Asian Development Bank, African Development Bank, International Monetary Fund and the World Bank has positively influenced the stationary catalytic systems market outlook.

The developing countries are focusing toward the reliable and continues electricity supply and plans to develop new power plants with an aim to support the rising demand is driving the product demand. Moreover, growing efforts to minimize the electricity demand supply gap is anticipated to boost the product demand by 2032. NOx, CO and PMs emitted from industrial exhaust gases pose a threat of lung cancer hazard for humans and environment and are linked to numerous serious respiratory & cardiac health issues.

COVID- 19 Impact

COVID-19 pandemic has posed challenges to the stationary catalytic systems market as the pandemic has disrupted global supply chains due to lockdown measures, transportation restrictions, and reduced production capacities. This led to delays in the manufacturing and delivery of stationary catalytic systems, affecting industry growth. In addition, many industrial sectors experienced reduced operations or temporary shutdowns during the pandemic, resulting in decreased emissions. This slowdown has reduced the immediate product requirement  industrial facilities were operating at reduced capacity. However, as economies recovered from the pandemic post lockdown measures, industrial activities resumed and grew significantly. This led to an increase in demand for these systems as industries strive to meet emission regulations and reduce their environmental impact.
 

Stationary Catalytic Systems Market Trends

The global shift toward clean and sustainable energy sources, such as natural gas and renewables, has driven the stationary catalytic systems market demand. These systems play a crucial role in reducing emissions from power plants, refineries, chemical plants, and other industrial facilities that generate energy or produce various products. Additionally, developing countries, particularly in Asia and Latin America, have been witnessing rapid industrialization, leading to increased pollution levels. As a result, the demand for stationary catalytic systems has been rising to control emissions and meet environmental regulations in these regions.
 

Stationary Catalytic Systems Market Analysis

SCR technology reduces NOx by using a catalyst. In the combustion process, these systems can achieve NOx reduction of up to 95% thus meeting the stringent legislations demand. The SCR process allows a high degree of conversion of the NOx without surpassing the threshold value of ammonia, therefore leading to an increased demand growth. In addition, rapid technological advancements with an aim to build more effective, cost efficient and compact sized system for both small and large sized boilers will encourage the stationary catalytic systems market development.

Rapid industrialization along with stringent energy efficiency mandates have compelled industries to deploy effective industrial emission control systems. Furthermore, government reforms to curtail NOx and CO in the atmosphere along with ever rising demand for electricity generation will enhance the technology adoption.

Rising demand for cement production along with the growing rate of pollutants released in the atmosphere is increasing the focus on deployment of emission control technologies. Introduction of stringent norms with an aim to limit the emissions and applicability of monetary penalties in the case of non-compliance will further complement the stationary catalytic systems market outlook. The demand for SCR and oxidation catalyst systems in developing economies is projected to grow at a healthy pace owing to expanding infrastructural base along with increase in construction activities. Also, Introduction of IMO norms stating strict limitations under Annex VI pertaining NOx emissions is driving the demand for SCR installation with waste incinerators.
 

Asia Pacific is projected to witness growth on account of significant rise in manufacturing activities along with increasing deployment of coal-based power plants to meet the ever-growing electricity demand. Stringent government norms pertaining to rise in NOx and CO emissions coupled with increasing effect of the pollutants on humans and environment health is positively influencing the demand for stationary catalytic systems worldwide. Market in developed economies including North America and Europe will grow owing to underlined ambitious government targets to limit the emissions.

The APAC stationary catalytic systems market is expected to flourish primarily due to increasing manufacturing activities. For instance, China is the largest manufacturing powerhouse globally. It manufactures around 50% of the world's industrial goods, including crude steel, cement, vehicles and other industrial applications. Hence, overview of norms in China and stringency in existing regulations pertaining emissions from power plants and cement industries is complementing the market growth rate.

The ongoing investments toward development of new industrial facilities together with the government focus on improving the energy efficiency will drive product deployment in China. The cement, heavy metal manufacturing, glass, and refining are some of the key energy-intensive industries in the country with a sizeable potential for product adoption. China under its 14th Five Year Plan for Energy Conservation and Emission Reduction Program has emphasized on the enhancement of energy efficiency across various industries. The government has also introduced energy efficiency standards across major manufacturing sectors and announced financial incentives to support the emission reduction efforts.

Stationary Catalytic Systems Market Share

Major stationary catalytic systems market players include

• Hug Engineering
• Kwangsung Co., Ltd.
• Agriemach Ltd.
• Johnson Matthey
• DCL International Inc.
• MAN Energy Solutions
• Yara International ASA
• Babcock & Wilcox Enterprises, Inc.
• DUCON
• CORMETECH
• McGill AirClean LLC
• Mitsubishi Heavy Industries, Ltd.
• Environmental Energy Services Corporation
• General Electric
• Thermax Limited
• CECO ENVIRONMENTAL

The manufacturers are focusing on research & development, technology development, collaboration & innovation to conform with the internationally accepted mandated & regulations. Prominent industries operative in the business scenario are undertaking rigorous merger & acquisition with local, regional, and global vendors to offer opportunities for the market growth.

Stationary Catalytic Systems Industry News

• In April 2023, General Electric started integrating their selective catalytic reduction (SCR) and Catalytic oxidation reduction (COR) systems into its LM2500XPRESS aeroderivative gas turbines to reduce the emissions of carbon monoxide (CO) up to 50%. The said installation of the emission control systems as CO emission control technology on their LM2500XPRESS units will offer a sustainable power option in the aeroderivative business, thereby offering growth to the market.
   
• In January 2023, Thermax Limited received an order worth USD 30.8 million to renovate and modernize electrostatic precipitators at 3x210 MW thermal power station in Bankura, West Bengal, India. The scope of the work include design, engineering, manufacturing, civil work, dismantling/relocation, construction, & commissioning of the ESP systems to reduce particulate emissions and comply with the air quality standards set for the power plants in the power plant.
   

This stationary catalytic systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD Million’ from 2019 to 2032, for the following segments:

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Market, By Technology

• Selective Catalytic Reduction
• Oxidation Catalyst

Market, By Industry

• Power Plants
• Chemical & Petrochemical
• Cement
• Metal
• Marine
• Manufacturing
• Others

The above information has been provided for the following regions across the regions.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  •  UK
  •  Italy
  •  Norway
  •  France
• Asia Pacific
  • China
  •  Japan
  •  India
  •  South Korea
  •  Australia
• Middle East & Africa
  • Saudi Arabia
  •  UAE
  •  South Africa
• Latin America
  • Brazil
  •  Argentina
  •  Chile