By the end of 2032, the global market for regenerative thermal oxidizers is predicted to be worth more than US$ 13 billion, up from US$ 9 billion in 2021. Sales of regenerative thermal oxidizers are anticipated to reach US$ 9.5 billion by 2022, growing at a CAGR of 4% to 5% from 2022 to 2032.
Industrial equipment known as regenerative thermal oxidizers (RTO) is used to treat exhaust air. At 850°C or higher, these cutting-edge energy-saving systems oxidise and break down volatile organic compounds (VOCs). They consist of a ceramic bed that traps the heat from the exhaust gas emissions.
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Factors Creating Restraints for the Regenerative Thermal Oxidizer Detector Market GrowthRegenerative thermal oxidizers have a number of benefits, but their high price and the growing accessibility of other emission control devices, such as electrostatic precipitators, are preventing them from being widely adopted.
Additional factors limiting the growth of the regenerative thermal oxidizer market include complications in these systems and high maintenance costs brought on by the presence of numerous moving parts & components.
North America Garnering Large Regenerative Thermal Oxidizer Sales in the Global MarketAccording to Future Market Insights, between 2022 and 2032, the global regenerative thermal oxidise market is expected to grow strongly in North America.
Due to North America’s rapid industrialization and rising number of vehicles, the demand for oil and gas products like gasoline, diesel, and others has significantly increased over the past couple of years. To meet the soaring demand, major industry players are concentrating on establishing new refineries and facilities for the production of crude oil.
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For instance, the American oil and gas company Targa Resources Corporation announced in 2019 that a new petroleum refinery with a 35,000 barrel per day refining capacity would be opening in Texas, the U.S. Such developments are anticipated to increase demand in the North American market because regenerative thermal oxidizers are widely used in petrochemical refineries to decompose VOCs and other pollution.
Market CompetitionSome of the leading players in the regenerative thermal oxidizer market are SGX Sensortech, The CMM Group, BD Group Industries, LLC, Biothermica Technologies Inc., Formia Emissions Control Oy, Air Clear LLC., Filtracni Technika, Thermische Prozesstechnik GmbH, Nacah Tech, LLC and others.
Attributed to the presence of such a large number of participants and increasing product launches advanced technologies and features, the market is highly competitive.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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