Oxy fuel combustion technology market are receiving high momentum across the world. increasing government initiatives to reduce air pollution is influencing the market growth. 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. For instance, The National Clean Air Programme under the Central Sector “Control of Pollution” Scheme has been launched by the Central Government of India as a long-term, time-bound national strategy to address the country’s air pollution problem in a comprehensive manner, with targets of achieving a 20% to 30% reduction in PM10 and PM2.5 concentrations by 2024, using 2017 as the baseline year. In 2018, the government issued a Comprehensive Action Plan to identify timelines and implementing agencies for actions aimed at preventing, controlling, and mitigating air pollution in Delhi and the NCR.
Air Products and Chemicals, Inc., Air Liquide S.A., Linde Plc, General Electric Company, Jupiter Oxygen Corporation – Prominent Market Participants in Oxy Fuel Combustion Technology Market
The global oxy fuel combustion technology market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. North America holds the dominant share in the oxy fuel combustion technology market, whereas APAC is expected to be the fastest-growing region in the global 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 US is in a prime position to commercialize the oxy fuel combustion technologies, which are expected to be required widely to completely decarbonize the global economy, owing to a renewed effort to formulate supportive policy and strengthen the current policy structure across the region. As a result, US leadership on CCS implementation would contribute significantly to the world, meeting its environment and sustainable-development goals. It would also help to lower the cost of carbon capture and storage (CCS), a technology that is critical for achieving climate targets and allowing technology implementation in other countries
The top five companies in the oxy fuel combustion market include Air Products and Chemicals, Inc., Air Liquide S.A., Linde Plc, General Electric Company, Jupiter Oxygen Corporation. The above listing of key players is derived by considering multiple factors such as overall revenue, current automated waste collection system portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global oxy fuel combustion technology market ecosystem such as Encon Thermal Engineers Pvt..LTD Limited, ESA S.PA, Falorni Gianfranco S.R.L, and Hitachi Ltd, amongst others.
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 maintain their cashflows and revenues.
