Significant surge in population across the globe, rise in urbanization, extensive investment in sustainable energy projects, growth in the demand for automation in various end-use industries, and increase in the prevalence of low nitrogen oxide burners are expected to drive the growth of the global nitrogen oxide control systems market. By application, the transportation segment held the majority share in 2020. By region, Europe is expected to cite the fastest CAGR by 2030.

Portland, OR, May 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global nitrogen oxide control systems market generated $4.3 billion in 2020, and is projected to reach $7.3 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Significant surge in population across the globe, rise in urbanization, extensive investment in sustainable energy projects in various countries around the world, growth in the demand for automation in various end-use industries, and increase in the prevalence of low nitrogen oxide burners are expected to drive the growth of the global nitrogen oxide control systems market. On the other hand, its extortionate cost is predicted to hinder the growth to some extent. However, persistent technological advancements in various pollution control systems are anticipated to create ample opportunities for the growth of the industry.

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COVID-19 Scenario

• The outbreak of COVID-19 has had a negative impact on the growth of the global nitrogen oxide control systems market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns led to the closure of most of the industrial operations around the world due to the stringent social distancing restrictions imposed by the government to curb the spread of the virus during the pandemic.
• Moreover, the import and export activities were substantially impacted that further aggravated the impact on the market.
• However, the market is predicted to recoup soon.

The report offers a detailed segmentation on the global nitrogen oxide control systems market based on technology, application and region.

Based on technology, the selective catalytic reduction (SCR) segment held the highest market share in 2020, garnering nearly two-fifths of the total market. The selective non-catalytic reduction segment (SNCR), on the other hand, is expected to cite the fastest CAGR of 6.3% during the forecast period.

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Based on application, the transportation segment held the majority share in 2020, holding more than one-third of the total market. The industrial segment, on the other hand, is anticipated to exhibit the fastest CAGR of 6.3% during the forecast period.

By region, the market across Asia-Pacific held the lion’s share in 2020, accumulating more than half of the total market. The Europe region, on the other hand, is predicted to cite the fastest CAGR of 5.7% during the forecast period.

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The key players analysed in the global nitrogen oxide control systems market report include Honeywell International Inc., Ducon Technologies, Siemens AG, Mitsubishi Hitachi Power Systems, Ltd., Fuel Tech, The Shell Group, S.A. HAMON, Babcock & Wilcox Enterprises, Inc., John Wood Group plc and CECO Environmental.

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