By 2032, size of the global market for combustion controls, equipment, and systems would exceed US$ 265.0 billion. In 2022, the market had a value of US$ 137.5 billion. It is anticipated to observe growth at a CAGR of 6.8% from 2022 to 2032.
Combustion controls, equipment, and systems are being designed employing state-of-the-art pollution control strategies and top-notch standards. This would contribute to creating a clean, green environment.
Sales would also be boosted by continued development of the industrial sector and growing global need for power. It is blamed on increasing building of substantial electricity-generating plants.
A variety of devices, mechanisms, and systems are needed for the combustion process. Heat is created through a complex series of chemical reactions involving an oxidizer and a fuel.
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The energy released during burning can be used in a variety of ways. A number of uses for combustion energy are possible. They include the creation of electricity and the powering of vehicles such as rockets and airplanes.
Gas turbine engines are one of the most important uses for composite materials, according to the National Energy Technology Laboratory (NETL). Both the manufacturing of industrial electricity and the production of aircraft require these.
Key Takeaways from Combustion Controls, Equipment, and Systems Market Study
- The global combustion controls, equipment, and systems market witnessed 4% CAGR from 2017 to 2021.
- Asia Pacific combustion controls, equipment, and systems market would expand at a CAGR of 1% through 2032.
- The USA combustion controls, equipment, and systems market is expected to be worth US$ 42.3 billion by 2032.
- The United Kingdom combustion controls, equipment, and systems market would expand at a CAGR of 2% from 2022 to 2032.
- By application, the aerospace and marine segment would lead the market by exhibiting 0% CAGR between 2022 to 2032.
“Sales would be supplemented by investments made with the goal of increasing power producing capacities. Demand would be boosted by growing opposition to nuclear power and mounting concerns over emissions of volatile organic compounds.” – Says a lead analyst.
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Competitive Landscape: Combustion Controls, Equipment, and Systems Market
Pricing, geographic reach, and introduction of new products are the manufacturing companies’ key competitive advantages. One example is the brand-new SUV concept that Renault recently unveiled that has a hydrogen-powered drivetrain. This SUV has an internal combustion engine that runs on hydrogen. It doesn’t use fossil fuels such as gasoline and diesel.
Several vendors in the global market have engaged in cutting-edge strategic joint ventures, acquisitions, and collaborations. They do this to gain a competitive edge in the global market.
For instance,
- In April 2020, Catalytic Products International installed a Regenerative Thermal Oxidizer (RTO) at Midwest USA. The oxidizer uses a ceramic media design to provide thermal efficiencies of up to 97%. The processed air is heated in RTOs by preheating it as it ascends via the first ceramic heat exchange medium. After leaving the heat exchanger, the preheated air enters a combustion chamber. It is further heated to the desired temperature. Oxidation of the VOCs is finished with an efficiency of more than 98%. The resulting hot, pure air stream is then directed downward. It is cooled in the second ceramic heat exchange media bed before being discharged into the environment.
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Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the combustion controls, equipment, and systems market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals extensive growth in the combustion controls, equipment, and systems market in terms of product (components, systems, monitoring & control instruments), application (process industries, metallurgy, cement industry, refining & petrochemicals, energy & power, aerospace & marine), and region.
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Combustion Controls, Equipment, and Systems Market Outlook by Category
By Product:
- Components
- Systems
- Monitoring and Control Instruments
By Application:
- Process Industries
- Metallurgy
- Cement Industry
- Refining and Petrochemicals
- Energy and Power
- Aerospace and Marine
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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