Electrostatic Precipitator Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type and End Use : Global Opportunity Analysis and Industry Forecast, 2021-2030

Electrostatic Precipitator Market Opportunities - 2030

The global electrostatic precipitator market forecast was valued at $6.6 billion in 2020, and is projected to reach $10.0 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. Electrostatic precipitator (ESP), also known as electrostatic air cleaner, is a device that is used to remove dust and smoke from stream of flowing gas.        

The global electrostatic precipitator market growth factors are increasing awareness for air quality management and rapid industrialization in both developing & developed economies. The air quality is deteriorating on a daily basis due to harmful emissions released from automotive, industrial manufacturing, power plants, and other sectors. According to an article published by the Natural Resource Defense Council (NRDC), the level of fine particulate matter in the air increased by 38% in India and China between 1960 and 2009. Electrostatic precipitators used for removing soot and ash from exhaust fumes serve as an ideal choice for several end-use sectors to reduce the particulate matter from the exhaust air, thus reducing the level of particulate matter within the environmental limits. In addition, countries such as the U.S., China, and India are witnessing rapid growth in industrialization. The sectors such as public transportation, automobiles, and energy (power plants) are contributing a major share toward the growth of the economy. All these factors collectively surge the demand for electrostatic precipitator, thereby augmenting the global market growth.

However, increase in awareness for air quality control and ill effects associated with harmful emissions has led to a rapid shift from non-renewable sources toward renewable sources for energy generation purposes. The power generation process from renewable sources such as wind, solar, geothermal, and hydropower is an emission-free process. Furthermore, many power plants are becoming linear toward using renewable sources for energy production, owing to volatility in crude oil prices, geopolitical issues, and high investment risks. These factors are likely to restrain the growth of the electrostatic precipitator market during the forecast period. 

On the contrary, the global electricity demand is increasing rapidly, which, in turn, has led the power generation sectors to maximize their power generation capacities. This has led conventional sources-based power plants such as coal-fired and gas-based power plants to witness a significant growth where electrostatic precipitator is widely used for soot and ash removal purposes from the exhaust gas. This is anticipated to open up new sales opportunities in the market. 

The global electrostatic precipitator market analysis is done on the basis of product type, end use, and region. Depending on product type, the market is divided into plate-wire, flat plate, tubular, wet, and two-stage. The end users covered in the study include power generation, chemicals, metal, petroleum refineries, cement, and other industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The global market analysis covers in-depth information of the major electrostatic precipitator industry participants.

Electrostatic precipitator market, by region

The Asia-Pacific electrostatic precipitator market size is projected to grow at the highest CAGR of 4.8% during the forecast period and accounted for 41.3% of electrostatic precipitator market share in 2020. The proliferating demand for paper-based products among packaging and printing & advertisement sectors in China have led the key manufacturers of the paper industry to increase their production capacities, wherein electrostatic precipitator is used for removing harmful soot and ash from the exhaust gas. For instance, according to a report published by a research journal named Paper and Biomaterials, the production and consumption of household paper in China in 2019 were 10.05 million ton and 9.30 million ton that is an increase of 3.61% and 3.22% as compared to 2018, respectively.

Electrostatic precipitator market, by product type

In 2020, the plate wire segment was the largest revenue generator, and is anticipated to grow at a CAGR of 4.2% during the forecast period. The proliferating demand for paper-based products for packaging, printing & advertisement, and other applications have led the key manufacturers of the paper industry to increase their production capacities where plate-wire type electrostatic precipitator is used for removing harmful soot and ash from the exhaust gas. 

Electrostatic precipitator market, by end-use

In 2020, the power generation end use was the largest revenue generator, and is anticipated to grow at a CAGR of 3.7% during the forecast period. The growing population along with increasing per capita electricity usage has surged the growth of power plants, where electrostatic precipitator is widely used for reducing the particulate matter from exhaust gases of furnaces and boilers.  For instance, according to a report published by India Brands Equity Foundation, power consumption in India is expected to reach 1,897.4 terawatt-hour (TWh) by 2022. This may foster the growth of the electrostatic precipitator market in the power generation sector.

Key benefits for stakeholders

• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current electrostatic precipitator market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of COVID-19 on the global electrostatic precipitator market

• The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. 
• The electrostatic precipitator market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the oil & gas, chemicals, cement manufacturing, and power sectors. 
• According to a report published by the Energy and Economic Growth Survey, the oil & gas sector is among the hardest hit sector with an average contraction of -2.8% in 2020. In addition, more than 100 countries have locked their international borders for transportation and nonessential trade activities, which, in turn, have hampered the demand-supply chain of the electrostatic precipitators market. 
• Furthermore, the temporary shutdown of oil refineries and chemical manufacturing industries amid the COVID-19 period has reduced the consumption of electrostatic precipitators for soot and ash removal purposes. For instance, according to a report published by the Indian Ministry of Petroleum & Natural Gas, the central public sector enterprise (CPSE) refineries has produced 7,103.76 thousand metric tons (TMT) of crude oil in April 2020 that is 28.91% lower than the target for the month and 36.93% lower than the production achieved in the corresponding month of 2019. This has severely affected the demand for electrostatic precipitators among the oil refineries during the COVID-19 situation. 
• Furthermore, the decline in global electricity consumption due to the shutdown of large-scale industries, offices, and malls has led the electrostatic precipitator market to witness a downfall in demand. For instance, according to a report published by the International Energy Agency (IEA), a large reduction of coal-fired power generation occurred in China, owing to a decrease in electricity demand during March 2020.
• Moreover, the global electricity demand is expected to recover faster attributed to the lift of several COVID-19 measures. This is expected to enhance the performance of the electrostatic precipitator market post-COVID-19 scenario. 

  Electrostatic Precipitator Market Report Highlights

Aspects	Details
By Product Type	Plate Wire Flat Plate Tubular Wet Two-stage
By END USE	Power Generation Chemicals Metal Petroleum Refineries Cement Other Industrial
By Region	North America  (U.S, Canada, Mexico) Europe  (Germany, UK, France, Italy, Spain, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	Mitsubishi Power, Ltd., Babcock & Wilcox Enterprises, Inc., John Wood Group PLC, Siemens AG, DUCON, Trion IAQ, General Electric, Thermax Limited, FLSmidth, .S.A. Hamon

Analyst Review

The global electrostatic precipitator market is expected to exhibit high growth potential, owing to its use in power generation, chemicals, metal, petroleum refineries, cement, and pulp & paper. The proliferating demand for paper-based products for packaging, printing & advertisement, and other applications has led the key manufacturers of the paper industry to increase their production capacities where plate-wire type electrostatic precipitator is used for removing harmful soot and ash from the exhaust gas. This may act as one of the key drivers responsible for the growth of the electrostatic precipitator for the plate-wire type. Furthermore, the global electricity demand is increasing rapidly, which, in turn, has led the coal-fired and gas-based power plants to witness a significant increase in demand. For instance, according to a report published by the Indian Ministry of Power, the electricity generation target from conventional sources for the year 2021-2022 is 1,356 billion unit (BU) which is a growth of around 9.83% as compared to 2020-2021. This may increase the sales of plate-wire type electrostatic precipitators for reducing the particulate matter from exhaust gas in power plants.

Author Name(s) : Nikhil Mittal | Eswara Prasad

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