The major factor driving the oxy fuel combustion technology market is the rising concern for carbon dioxide emission in the atmosphere, which is also the dominant contributor to the phenomenon of climate change. Currently, fossil fuels provide most of the world's energy, and this situation is expected to persist for at least next few decades. Thus, to continue using fossil fuels in an effective and environmentally sustainable manner, near-zero emission technologies such as the oxy fuel combustion technology is being developed for demonstration and large-scale commercial deployment.
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In the past, the benefits of using oxygen could not have always offset the added costs. However, with new oxygen generation technologies, such as pressure and vacuum swing adsorption, have substantially reduced the cost of separating O2 from air. Many companies have also been found to establish research centres to study on oxy-fuel systems, such as – CanmetENERGY. The centre focuses on the development of next generation oxy-fuel combustion technologies, oxy-fuel process and power plant modeling, and oxy-fuel gas turbine technologies with near-zero emissions. The outcomes of their research further support industry initiatives in this area and assist them in determining cost-effective approaches for pre-commercial demonstration and commercial deployment of such combustion systems. Thus, the incorporation of various state-of-the-art application oxy fuel combustion technologies is expected to gain traction in the coming years. Such fossil-fuel energy conversion systems will provide an opportunity to develop new designs, improve the competence of baseline combustion processes, and reduce their environmental footprints, including greenhouse gas emissions, through CO2 capture and storage. These factors are driving the demand of oxy fuel combustion technology market.
The detailed research study provides qualitative and quantitative analysis of global oxy fuel combustion technology market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global oxy fuel combustion technology market was valued at US$ 147,597.8 Thousands in 2020 growing at a CAGR of 7.67% over the forecast period (2021 – 2029). Increasing demand for cleaner and safer environment for all to live is fuelling the growth of the global oxy fuel combustion technology market in the coming years.
- By offerings, the solutions segment accounted for the highest market share in the global oxy fuel technology market in 2020; while the service segment was found to be the fastest growing over the forecast period.
- In terms of applications, power generation segment recorded the highest market share in 2020.
- By region, North America accounted for the highest market share in the global oxy fuel combustion technology market in 2020.
- Some of the players operating in the global oxy fuel combustion technology market are Air Liquide, Air Products and Chemicals, Inc., EnconThermal Engineers Pvt. Ltd., ESA S.p.A., FalorniGianfranco s.r.l., GENERAL ELECTRIC, Hitachi, Ltd., JUPITER OXYGEN CORP, Linde, Other Market Participants.
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Global Oxy Fuel Combustion Technology Market:
By Offering
- Solution
- Injection Systems
- Air Separation Units
- Burner Assembly
- Others
- Services
- Design and Development
- Installation Services
- Engineering Services
- Others
By Application
- Metal and Mining
- Power Generation
- Gas Turbine
- Fossil Fuel
- Waste Disposal
- Garbage Incineration
- Biomass Incineration
- Coatings and Sprays
- Metal Coatings
- Ceramic Coatings
- Others
- Glass Manufacturing
- Cement Industry
- Others
By Region:
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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