Oxy-fuel Combustion Technology Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The oxy-fuel combustion technology market size is projected to reach US$ 1,185.6 million by 2031 from US$ 535.45 million in 2023. The market is expected to register a CAGR of 10.4% in 2023–2031. Raising awareness towards reducing environmental pollution rise in demand for oxy-fuel combustion technology from oil & gas, manufacturing, glass, and thermal engineering industries are among the key factors driving the oxy-fuel combustion technology market.

Oxy-fuel Combustion Technology Market Analysis

The oxy-fuel combustion technology market is expected to experience considerable growth during the analyzed timeframe owing to the increasing demand for oxy-fuel combustion technology in developing countries to reduce air pollution and industrial gas emissions. In addition, several initiatives have been taken by local and federal government bodies across the world over the years to minimize hazardous industrial air disposal. For instance, in September 2022, the government of India also announced that they had set a new aim of a 40% reduction in particulate matter (PM) concentration in cities covered under NCAP by 2026, updating their earlier goal of 20 to 30% reduction by 2024. Such government initiatives across the globe are anticipated to drive market growth from 2023 to 2031.

Oxy-fuel Combustion Technology Market Overview

With the mounting population and industrialization, the demand for energy is also rising at the global level. The rise in energy consumption also boosted the need for minimized carbon dioxide emissions. This has resulted in driving the demand for oxy-fuel combustion technology across the globe. Oxy-fuel combustion is one of the most important technologies for capturing carbon dioxide in power plants. As a result, the adoption of this technology has increased, which is propelling the oxyfuel combustion technology market. Also, governments of several countries across the globe are taking various initiatives to reduce air pollution, which is further driving the growth of the market. Further, various industries are adopting the technology to reduce gas emissions, boosting the growth of the oxy-fuel combustion technology market. However, 02 supply and CO2 capture result in substantial energy penalties that must be mitigated through system optimization and the development of innovative processes; this poses one of the major challenges for market growth.

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Oxy-fuel Combustion Technology Market: Strategic Insights

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Oxy-fuel Combustion Technology Market Drivers and Opportunities

Increasing demand for Oxy-fuel Combustion Technology in Developing Economies is expected to be the Prime Driver for the Oxy-fuel Combustion Technology Market.

The rising air pollution rate across India, China, Mexico, Malaysia, Russia, South Africa, and other developing countries is influencing the governments and industries across these countries to take initiatives to reduce the same to build a healthy environment for its population. According to the World Bank, nearly 33,000 deaths are recorded in Mexico each year due to air pollution. Industrial air pollution is responsible for nearly 20,000 of these deaths, which occur primarily in towns and cities. In Mexico, air pollution is a serious problem, accounting for nearly one-fifth of all deaths (5.9%).

World Health Organization (WHO) set a limit of 10 micrograms (thousandth of a gram) of PM2.5 per cubic meter of air (10g/m3) for average outdoor ambient air pollution. In Mexico City, however, average concentrations are around 25 g/m. In addition, in 2019, India recorded around 1.67 million deaths due to air pollution, which is 18% of the total deaths in the country. Thus, to minimize the PM-2.5 and other industrial gas emissions to reduce their environmental effects and impact on human health, the demand for oxy-fuel combustion technology is expected to increase during the forecast period.

Awareness Programs Towards Minimizing Air Pollution Across Developing and Developed Countries

Air pollution awareness programs or initiatives in developed and developing economies have grown over the years to combat the increasing climatic changes due to the increasing greenhouse gas emissions. WHO, the United States Environmental Protection Agency (EPA), and The World Economic Forum are among the international government entities working on the awareness programs. Similarly, various non-profit private organizations are taking initiatives to educate industries regarding the adverse effects of harmful or toxic gases emitted by them in the environment. These organizations include The Climate & Clean Air Coalition (CCAC), The Union of Concerned Scientists, and Earthjustice. A few awareness programs are listed below:

• BreatheLife, a global campaign, is aimed at encouraging people to act on air pollution or environmental pollution to protect human lives and the planet. This campaign is led by the WHO, the UN Environment Programme (UNEP), and the CCAC.
• The United Nations (UN) General Assembly designated the International Day of Clean Air for blue and clear skies. It was held in September 2022 to brought attention to various air pollutants affecting human and environmental health.
• Union Ministry of Environment for Forest and Climate Change, India organizes Swachh Vayu Diwas to raise awareness to improve air quality under the National Clean Air Programme (NCAP).

Thus, the growing initiatives by various organizations or entities are influencing the end-use industries for adopting technologies that will minimize the emission of hazardous gas into the environment, which is expected to boost the growth of the global oxy-fuel combustion technology market in the coming years.

Oxy-fuel Combustion Technology Market Report Segmentation Analysis

Key segments that contributed to the derivation of the oxy-fuel combustion technology market analysis are offerings and the end-use industry.

• Based on offerings, the oxy-fuel combustion technology market has been divided into solutions and services. The solution segment accounted for a larger market share in 2023.
• Based on the end-use industry, the oxy-fuel combustion technology market has been divided into oil & gas, power generation, manufacturing, metal & mining, and others. The power generation segment held a larger market share in 2023.

Oxy-fuel Combustion Technology Market Share Analysis by Geography

The geographic scope of the oxy-fuel combustion technology market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South America.

North America will dominate the oxy-fuel combustion technology market in 2023. The North America region includes the US, Canada, and Mexico. The US and Canada are highly dependent on fossil fuels to fulfill their primary energy demand. Hence, the emission of harmful gases in these countries is high. The largest resource of greenhouse gas emissions in the US is human activities that include burning fossil fuels for electricity, heat, and transportation. As per the United States Environmental Protection Agency (US EPA), in 2022, the total greenhouse gas emission in the US was 6,343.2 million metric tons of CO2 equivalent. Different economic sectors responsible for greenhouse gas emissions are transportation, holding 28% of greenhouse gas emissions in 2022; electricity production, accounting for 25%; industry, accounting for 23%; commercial and residential sectors holding 13%; and agriculture, accounting for 10%. Thus, the rapid growth in the above sectors will increase the harmful gas emissions in North America during the forecast period, which in turn is expected to raise the demand for oxy-fuel combustion technology in the future.

Oxy-fuel Combustion Technology Market Regional Insights

The regional trends and factors influencing the Oxy-fuel Combustion Technology Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Oxy-fuel Combustion Technology Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Oxy-fuel Combustion Technology Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Oxy-fuel Combustion Technology Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Oxy-fuel Combustion Technology Market are:

1. Falorni Gianfrance SRL
2. General Electric Co
3. HeidelbergCement AG
4. Hitachi Ltd
5. Jupiter Oxygen Corp
6. Linde Plc

Disclaimer: The companies listed above are not ranked in any particular order.

Oxy-fuel Combustion Technology Market News and Recent Developments

The oxy-fuel combustion technology market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for oxy-fuel combustion technology market and strategies:

• In November 2022, HeidelbergCement started the further development and scaling-up of the LEILAC technology together with Calyx, an Australian technology company and a European consortium. With this strategic initiative, the company is scaling up the time and money it spends on making the cement production process more sustainable by utilizing carbon capture technology.
• In October 2022, SLB and Linde collaborated on carbon capture, utilization, & sequestration (CCUS) projects to enhanced decarbonization solutions across various industrial and power sectors. The collaboration was aimed at combining decades of experience in carbon dioxide (CO2) capture & sequestration, innovative or advanced technology portfolios, project development & execution expertise, and engineering, procurement, & construction (EPC) capabilities.

Oxy-fuel Combustion Technology Market Report Coverage and Deliverables

The “Oxy-fuel Combustion Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, & country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed Porter’s Five Forces analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles with SWOT analysis