Technology market

Oxy Fuel Combustion Technology Market Key Players, Growth

According to the new research report published by The Insight Partners, titled “Oxy Fuel Combustion Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offers (Solution, Services); End-Use Industry (Oil & Gas, Power Generation, Manufacturing, Metal & Mining, Others) market was valued at US$386.52 Million in 2020 and is projected to reach US$749.60 Million by 2028; it is expected to grow at a CAGR of 9.6% from 2021 to 2028.

North America is leading the global oxyfuel technology market with substantial revenue share in 2020, followed by Europe and APAC. The United States is in a unique position to commercialize oxyfuel technologies, which are expected to be widely needed to fully decarbonize the global economy, through a renewed effort to formulate supportive policy and strengthen the current policy structure in the region. . Accordingly, US leadership in implementing CCS would make a significant contribution to the world, meeting its environmental and sustainable development goals. It would also help reduce the cost of carbon capture and storage (CCS), a key technology for achieving climate goals and enabling the technology to be implemented in other countries.

In 2020, Europe held the second place in the oxyfuel technology market with a decent share, and it is expected to witness a stable CAGR from 2021 to 2028. The European region includes France, Germany, Spain , Italy, the United Kingdom and the rest of Europe. Western European countries are more advanced than Nordic and other Eastern European countries. Therefore, there are more developments and advances in the adoption of new technologies in the western part of Europe. On the other hand, economically strong countries such as Germany, Italy and the UK have seen significant growth in the implementation of oxyfuel technology solutions.

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In North America, the United States has reported more than 20 million cases of COVID-19, with California, Texas, Florida and New York, among others, being the worst affected regions. Although the United States federal government did not impose nationwide lockdowns in 2020, the governors of a few states decided to impose lockdowns in their respective states. The lockdown has hampered the operations of various industries including chemicals, manufacturing, hospitality and IT. Despite the many applications of oxyfuel systems, companies supplying these systems have faced fluctuating demands amid the pandemic, which can be attributed to declining economic activity as well as disruptions and volatility. important in the market. Metal production, coating and sputtering, waste disposal, power generation, and glass production are among the key industries with many applications for oxy-fuel combustion technology. However, oxycombustion system suppliers are actively working and operating the plant during this time, enabling them to meet customer demands.

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Contact person: Sameer Joshi
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About Us:
The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.

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