Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5 Billion | USD 9 Billion | 6.1% | 2022 |
The global nitrogen oxide (NOx) control systems market size was evaluated at $5 billion in 2022 and is slated to hit $9 billion by the end of 2030 with a CAGR of nearly 6.1% between 2023 and 2030.
Nitrogen oxide control systems are systems utilized for reducing nitrogen oxide emissions. For the record, nitrogen oxide is a family of reactive gases accounting majorly for air pollution along with causing health hazards and environmental pollution. Furthermore, these systems find lucrative applications in the manufacturing, power generation, and transport sectors. Additionally, nitrogen oxide control systems make use of different methods such as exhaust gas recirculation, selective catalytic reduction, and non-selective catalytic reduction for reducing the release of nitrogen oxide into the environment.
Growing issues occurring due to air pollution caused due to nitrogen oxide emissions boost the global market expansion
Escalating concerns related to air pollution along with strict laws regarding the use of nitrogen oxides implemented by various governments across the globe will steer the global nitrogen oxide (NOx) control systems market trends. In addition to this, humungous product penetration in a spectrum of end-use sectors will proliferate the global market size. Technological breakthroughs and innovations in nitrogen oxide control systems will propel the expansion of the market across the globe.
The humungous need to control nitrogen oxide pollution from vehicles, non-road vehicles, trucks, and other industrial sources including cement kilns, power units, turbines, and industrial boilers will enhance the demand for nitrogen oxide control systems. Moreover, these systems constantly check the feedback from nitrogen oxide sensors along with determining the response of the system through proportional adjustment of liquid & airflow. This, in turn, will steer the expansion of the global market.
Huge prices of raw components can dampen the growth of the global industry over 2023-2030
High costs of the product due to oscillating raw material prices can put brakes on the global nitrogen oxide (NOx) control systems industry surge in the years ahead. Disruptions in the supply chain activities can deter the growth of the industry over the forecasting period.
A rise in pollution due to emissions in the environment can open new growth avenues for the global market
An increase in pollution due to fossil fuels along with the emission of nitrogen oxide from coal-fired and gas-fired power units is projected to open new opportunities for growth for the nitrogen oxide (NOx) control systems market across the globe. Increase in the air pollution has caused a large number of deaths due to asthma, cardiovascular disorders, bronchitis, lung cancer, breathlessness, lung infection, respiratory infection, and chronic obstructive pulmonary disorder. This, in turn, is likely to open a plethora of opportunities for the global market.
Strict laws controlling product usage can decimate the global industry expansion by 2030
Strict government norms regulating the use of the product across a slew of end-use sectors can prove to be a challenging aspect for the growth of the global nitrogen oxide (NOx) control systems industry.
The global nitrogen oxide (NOx) control systems market is sectored into type, application, and region.
In type terms, the nitrogen oxide (NOx) control systems market across the globe is segregated into burners, igniters, and other segments. Furthermore, the burners segment, which led the type segment in 2022, is predicted to continue leading the segmental landscape even during the forecast timeframe. The expansion of the segment from the period of 2023 to 2030 can be a result of the ability of burners to enable efficient fuel combustion through the offering of effective integration of air and fuel.
Based on the application, the global nitrogen oxide (NOx) control systems industry is sectored into transportation, energy, industrial, and other segments. Additionally, the industrial segment, which acquired a massive share of the global industry in 2022, is predicted to record the highest CAGR over the forecast period. The segmental expansion over 2023-2030 can be due to the large-scale use of nitrogen oxide (NOx) control systems in power units, chemical manufacturing units, and refineries for reducing nitrogen emissions.
Report Attributes | Report Details |
---|---|
Report Name | Nitrogen Oxide (NOx) Control Systems Market |
Market Size in 2022 | USD 5 Billion |
Market Forecast in 2030 | USD 9 Billion |
Growth Rate | CAGR of 6.1% |
Number of Pages | 208 |
Key Companies Covered | Mitsubishi Hitachi Power Systems Ltd, Babcock & Wilcox Enterprises Inc., The Shell Group, Honeywell International Inc., John Wood Group plc, Fuel Tech, Siemens AG, CECO Environmental S.A., HAMON Group, Ducon Technologies Inc., and others. |
Segments Covered | By Type, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia-Pacific is predicted to retain its leading position in the global nitrogen oxide (NOx) control systems market over the forecast timeline
Asia-Pacific, which contributed about three-fourths of the global nitrogen oxide (NOx) control systems market revenue in 2022, will be a leading region over the forecast timespan. Moreover, the regional market expansion within the next eight years can be due to a rise in the acceptance of clean energy sources such as renewable energy in the end-use industries in countries such as India, China, Bangladesh, Indonesia, Nepal, Myanmar, Thailand, and Sri Lanka. Apart from this, strict government laws related to environmental pollution will steer the product demand in the sub-continent in the years to come. Apart from this, the large-scale presence of key players in the region will spur the regional market surge in the forthcoming years.
The European nitrogen oxide (NOx) control systems industry is set to record the fastest CAGR in the forecast period. The regional industry expansion over 2023-2030 can be attributed to a rise in awareness about the hazardous effects of nitrogen oxide on the health of human beings. Apart from this, growing concerns about the green environment in European countries will steer the expansion of the industry in the continent. Moreover, countries such as the UK, Germany, and France are projected to be the key regional revenue pockets in the near future.
Nitrogen Oxide (NOx) Control Systems Market: Competitive Space
The global nitrogen oxide (NOx) control systems market profiles key players such:
By Type
By Application
FrequentlyAsked Questions
Nitrogen oxide control systems are systems utilized for reducing nitrogen oxide emission. For the record, nitrogen oxide is a family of reactive gases accounting majorly for air pollution along with causing health hazards and environmental pollution.
The global nitrogen oxide (NOx) control systems market growth over the forecast period can be owing to technological breakthroughs and innovations in nitrogen oxide control systems.
According to a study, the global nitrogen oxide (NOx) control systems industry size was $5 billion in 2022 and is projected to reach $9 billion by the end of 2030.
The global nitrogen oxide (NOx) control systems market is anticipated to record a CAGR of nearly 6.1% from 2023 to 2030.
The European nitrogen oxide (NOx) control systems industry is set to register the fastest CAGR over the forecasting timeline owing to a rise in awareness about the hazardous effects of nitrogen oxide on the health of human beings. Apart from this, growing concerns about the green environment in European countries will steer the expansion of the industry in the continent. Moreover, countries such as the UK, Germany, and France are projected to be the key regional revenue pockets in the near future.
The global nitrogen oxide (NOx) control systems market is led by players such as Mitsubishi Hitachi Power Systems, Ltd, Babcock & Wilcox Enterprises, Inc., The Shell Group, Honeywell International Inc., John Wood Group plc, Fuel Tech, Siemens AG, CECO Environmental S.A., HAMON Group, and Ducon Technologies Inc.
The global nitrogen oxide (NOx) control systems market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, break-even analysis, demand & supply analysis, cost-benefit analysis, market share analysis, Porter’s five force analysis, and value chain analysis.
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed