Europe Oxy Fuel Combustion Technology Market is expected to reach US$ 245.82 million by 2028

Power Generation Segment to Dominate Europe Oxy fuel combustion technology Market during 2020–2028      

According to The Insight Partners market research study on “Europe Oxy fuel combustion technology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offerings and End-Use Industry” is expected to reach US$ 245.82 million by 2028 from 123.71 US$ million in 2021. The market is estimated to grow at a CAGR of 10.3% from 2021 to 2028. The report provides trends prevailing in the Europe oxy fuel combustion technology market along with the drivers and restraints pertaining to the market growth Increasing need for minimizing gas emissions in industrial processes is the major factor driving the growth of the Europe oxy fuel combustion technology market. However, issues associated with high energy requirement and high cost associated with oxy fuel technology solutions hinders the growth of Europe oxy fuel combustion technology market.

Europe oxy fuel combustion technology market is segmented into offerings, end-use industry, and country. Based on offering, the Europe oxy fuel combustion technology market is segmented into solution and services. The solution segment held a larger market share in 2020. Based on end-user industry, the Europe oxy fuel combustion technology market is segmented into oil & gas, power generation, manufacturing, metal & mining, and others. Power generation segment held a larger market share in 2020. Based on country, the Europe oxy fuel combustion technology market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. UK held the largest market share in 2020.

Europe witnessed a varying impact of the COVID-19 pandemic across its economically diverse countries. For instance, governments of countries such as Germany, the UK, the Netherlands, and France imposed stringent restrictions and closed their borders to curb the virus spread. Additionally, countries such as Italy, Russia, and Spain witnessed a significant surge in cases, which led them to shut down business and manufacturing operations for a few months. However, several European countries witnessed swift recovery from the third quarter of 2020. Irrespective of a surge in the number of COVID-19 cases and the shutdown of business operations for months, manufacturers had to continue the production of essential goods or resume it earlier than other businesses. Oxy fuel combustion systems are necessary for waste disposal and power generation industries. These businesses generated a stable demand for these systems. The oxy fuel combustion system production plants were operating under strict COVID-19 guidelines. However, the lowered demand for other industrial areas such as glass production, metal production, and coating and spraying affected the overall cash flow of oxy fuel combustion technology providers.

Air Liquide SA; Air Products and Chemicals, Inc.; ESA S.P.A.; FALORNI GIANFRANCO S.R.L; General electric Company; HEIDELBERGCEMENT AG; Hitachi, Ltd.; Jupiter Oxygen Corporation; and LINDE are among the leading companies in the Europe oxy fuel combustion technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.   

Europe Oxy Fuel Combustion Technology Market, By Country, 2020 and 2028 (%)

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