By 2032, the worldwide combustion controls, equipment, and systems market will be worth more than $265 billion. The market was worth 137.5 billion US dollars in 2022. Between 2022 and 2032, it is expected to increase at a CAGR of 6.8%.
Combustion controls, equipment, and systems are being created using cutting-edge pollution control methodologies and high-performance requirements. This would contribute to a cleaner, greener environment.
Sales would also be encouraged by the industrial sector’s continuous rise and the expanding worldwide need for power. It is attributed to the increased construction of large-scale electricity-generating plants.
A variety of devices, mechanisms, and systems are needed for the combustion process. Heat is created through a complex series of chemical reactions involving an oxidizer and a fuel.
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The energy released during burning can be used in a variety of ways. Several uses for combustion energy are possible. They include the creation of electricity and the powering of vehicles such as rockets and airplanes.
Gas turbine engines are one of the most important uses for composite materials, according to the National Energy Technology Laboratory (NETL). Both the manufacturing of industrial electricity and the production of aircraft require these.
Key Takeaways from Combustion Controls, Equipment, and Systems Market Study
- The global combustion controls, equipment, and systems market witnessed a 4.4% CAGR from 2017 to 2021.
- Asia Pacific combustion controls, equipment, and systems market would expand at a CAGR of 48.1% through 2032.
- The USA combustion controls, equipment, and systems market is expected to be worth US$ 42.3 billion by 2032.
- The United Kingdom combustion controls, equipment, and systems market would expand at a CAGR of 5.2% from 2022 to 2032.
- By application, the aerospace and marine segment would lead the market by exhibiting 6.0% 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.
Get More Exclusive Insights into Combustion Controls, Equipment, and Systems Market Study
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
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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