Oxy Fuel Combustion Technology Market to Grow at a CAGR of 9.6% to reach US$ 749.60 million from 2020 to 2028

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Oxy Fuel Combustion Technology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offerings (Solution and Services), End-Use Industry (Oil & Gas, Power Generation, Manufacturing, Metal & Mining, and Others)

Publication Month: Mar 2021 | Report Code: TIPRE00010499 | No. of Pages: 150 | Category: Energy and Power | Status: Published

The oxy fuel combustion technology 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% during 2021–2028.

The rising concern for carbon dioxide emission in the atmosphere is a major factor driving the oxy fuel combustion technology market. Anthropogenic CO2, that is CO2 produced because of human activities, comes from the combustion of fossil fuels in power plants, transportation, and industrial sources. Fossil fuels currently provide the most of the world's energy, and this situation is expected to persist for at least next few decades. Thus, to continue using fossil fuels in an effective and environmentally sustainable manner, near-zero emission technologies are being developed for demonstration and large-scale commercial deployment. The state-of-the-art application of oxy-fuel combustion technology to fossil-fuel energy conversion systems provides an opportunity to develop new designs, improving the competence of baseline combustion processes, and reducing their environmental footprints, including greenhouse gas emissions, through CO2 capture and storage.

Impact of COVID-19 Pandemic on Oxy Fuel Combustion Technology Market

The lockdown hindered the operations of various industries, including chemical, manufacturing, hospitality, and IT. Despite the wide applications of oxy fuel combustion systems, the companies providing these systems have been facing fluctuating demands amid the pandemic, which can be attributed to the decline of economic activity as well as significant disruption and volatility in the market. Metal production, coating and spraying, waste disposal, power generation, and glass production are among the key industries with wide applications for the oxy fuel combustion technology. However, the oxy fuel combustion system providers were actively working and running the plant during this period, which allowed them to cater to the customer demands. This has helped them in maintaining their cashflows and revenues.

Lucrative Regions in Oxy Fuel Combustion Technology Market

Lucrative Regions in Oxy Fuel Combustion Technology Market

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Market Insights–Oxy Fuel Combustion Technology Market

Increasing Government Initiatives to Reduce Air Pollution

Air pollution is one of most serious health and environmental issues worldwide. Many of the leading causes of death, such as heart disease, stroke, lower respiratory infections, lung cancer, diabetes, and chronic obstructive pulmonary disease, are linked to air pollution, which includes both outdoor and indoor particulate matter and ozone. It is at the top of the list in low-income countries. It was estimated that 5 million people died because of air pollution in 2017. Low-income countries have higher indoor pollution rates due to their reliance on solid fuels for cooking, and outdoor air pollution increases as countries industrialize and move from low to middle income status. Hence, air pollution is more prevalent in both low- and middle-income countries.

Several initiatives have been taken by the local and federal government bodies across the globe over the years for minimizing the hazardous industrial air disposal. This is fueling the growth of the global oxy fuel combustion technology market.

Offerings -Based Insights

Based on offering, the oxy fuel combustion technology market is segmented into solution and services. The solution segment held a larger market share in 2020.

End-User Industry-Based Insights

Based on end-user industry, the oxy fuel combustion technology market is segmented into oil & gas, power generation, manufacturing, metal & mining, and others. The metal & mining segment is projected to register the highest CAGR during the forecast period.

Strategic Insights

Report Coverage - Oxy Fuel Combustion Technology Market
Report CoverageDetails
Market Size Value inUS$ 386.52 Million in 2020
Market Size Value byUS$ 749.60 Million by 2028
Growth rateCAGR of 9.6% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages150
No. of Tables62
No. of Charts & Figures71
Historical data availableYes
Segments coveredOfferings , End-Use Industry
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Players operating in the oxy fuel combustion technology market are mainly focused on the development of advanced and efficient products.

  • In 2020, Linde partnered with new contract with Indian Oil Corporation Limited (IOCL), the largest refiner in India. Praxair India Private Limited operated an air separation unit (ASU) to supply oxygen and nitrogen to its incumbent customer, IOCL.
  • In 2019, NGK SPARK PLUG CO., LTD. (NTK) and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) declared the establishment of CECYLLS Co., Ltd. The two companies to manufacture and sell cylindrical cell stacks (Note1) as the power generating elements used in solid oxide fuel cells (SOFC).

The oxy fuel combustion technology market has been segmented as follows:

Oxy Fuel Combustion Technology Market– by Offerings

  • Solution
  • Services

Oxy Fuel Combustion Technology Market – by End-User Industry

  • Oil & Gas
  • Power Generation
  • Manufacturing
  • Metal &Mining
  • Others

Oxy Fuel Combustion Technology Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Rest of SAM

Oxy Fuel Combustion Technology Market–Company Profiles

  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Encon Thermal Engineers Pvt. Ltd.
  • ESA S.p.A.
  • Falorni Gianfranco s.r.l.
  • General Electric Company
  • Hitachi Ltd.
  • Jupiter Oxygen Corporation
  • Linde

Frequently Asked Questions

Oxy fuel combustion is the process of combusting hydrocarbon fuel in a nearly pure oxygen environment, as opposed to air. Instead of using nitrogen to control the temperature, a part of the flue gas is used to dilute the oxygen. The primary goal of using oxy-fuel combustion in a coal-fired power plant is to produce flue gas with extremely high CO2 and water vapor concentrations, allowing the CO2 to be separated or captured from the flue gas using low-temperature dehydration and desulfurization processes. Reduced NOx emissions, high CO2 purity, and lower gas volumes due to increased density are just a few of the benefits of using oxy fuel combustion technology.
The North America led the market. The US and Canada are highly dependent on fossil fuels for fulfilling their primary energy demand. Hence, emission of harmful gases in these countries is high. In view of the Paris Agreement's ambitious and necessary climate targets, accelerating the region’s economic decarbonization is critical. The UN published the Intergovernmental Panel on Climate Change 1.5°C Report on Global Warming was in 2018, reinforcing the need for immediate climate action, calling for emissions to be reduced as soon as possible and to zero. Following a several-year fall, greenhouse-gas emissions in the US increased by 3.1% in 2018, almost outpacing global emissions growth by a factor of two.
The rising rate of air pollution across the developing countries such as India, China, Mexico, Malaysia, Russia, and South Africa is influencing the governments as well as the industries across the countries to take initiatives to reduce the same for building a healthy environment for its population. Thus, the demand for oxy fuel combustion technology is expected to increase over the forecast period to minimize the industrial gas emissions in order to reduce their environmental effects and impact on human health.

The List of Companies - Oxy Fuel Combustion Technology Market

  1. Air Liquide
  2. Air Products and Chemicals, Inc.
  3. Encon Thermal Engineers Pvt. Ltd.
  4. ESA Pyronics International
  5. Falorini Gianfranco SRL
  6. General Electric Company
  7. Hitachi Ltd.
  8. Jupiter Oxygen Corporation
  9. Linde
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global oxy fuel combustion technology market.
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  • The key findings and recommendations highlight crucial progressive industry trends in the global oxy fuel combustion technology market, thereby allowing players across the value chain to develop effective long-term strategies.
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  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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