Electrostatic Precipitator Market Size Estimation to Reach Usd 18 Billion by 2024

Electrostatic Precipitator Market size was valued at USD 8.5 billion in 2015, and will grow at over 9% CAGR estimation to reach USD 18 billion by 2024.

Rising environmental, safety, and health concerns in reducing air pollution will fuel industry growth through 2024. Factors, such as low operational cost, high efficiency, and the ability to operate across wide temperature ranges, will catalyze electrostatic precipitator market size.

These products offer high efficiency & capability to handle large gas volumes at extreme temperatures and also provide coal-fired power plants with a performance boost. Effective use of these products helps in preventing water & soil acidification, respiratory or cardiovascular diseases, cancer and fertility problems, and ground level ozone. This will play a vital role in various heavy industries, such as steel mills, cement plants, and thermal power stations, over the forecast timeline.

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The industry is predicted to witness potential opportunities owing to rising thermal power plant construction & renovation across the globe. In addition, attributes offered by these systems, such as silent operation and high response time, catalyze the product demand.The escalating need for reducing air pollution levels and stringent environmental norms could be a key reason for its penetration across developed and developing nations.

High raw material cost and initial investment required to manufacture and install these devices could hamper electrostatic precipitator market size over the next eight years. In addition, tremendous maintenance requirements associated with these systems may negatively impact the product demand. The U.S. Environmental Protection Agency (EPA) has developed many regulatory guidelines and emission parameters pertaining to the device usage in various industrial applications such as coal-fired boilers.

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