North America to Grab the Lion’s Share in the Oxy-Fuel Combustion Technology Market

Introduction

North America the highest share in global oxy-fuel combustion technology during the forecast period, 2017–2029. The continuous growth in the consumption of fossil fuel combustion for generating energy has surged the CO₂ levels in the region. North America is home to several manufacturing industries, including metal and glass industry. These industries emit greenhouse gas and CO₂ emissions, which is creating a need for clean air solutions.

Rising CO₂ emission has increased the prevalence of allergies among individuals. In order to curb the impact on health, the government in the region has implemented several programs, such as Clean Air Act, to monitor and regulate greenhouse gas emissions in the region.

Impact of COVID-19

The COVID-19 outbreak has resulted in a halt in the production activities and caused severe disruption in the supply chain. The global restrictions of lockdown have significantly reduced carbon dioxide emissions. As per the World Economic Forum (WEF), the amount of CO₂ released by human activity plummeted by 17% during the peak of the pandemic, April 2020.

The ongoing crises have compelled the governments to impose several restrictions and other measures, which have directly impacted the demand for energy and electricity. The lower production across the globe has resulted in lower demand for energy and caused a temporary reduction in CO₂ emissions, further hampering the market growth.

Key Highlights

• The oxy-fuel combustion technology market is expected to grow with a CAGR of xx% owing to the rising environmental concerns and increasing industrialization across the globe
• The glass manufacturing segment holds the highest market share of around 35–40% in the global market
• North America dominates the oxy-fuel combustion technology market strongly supported by the stringent government regulations for maintaining the environment air quality

Competitive Players

1. Air Liquide
2. Hitachi Ltd
3. Air Products and Chemicals, Inc
4. Encon Thermal Engineers Pvt. Ltd
5. ESA S.p.A
6. Falorni Gianfranco s.r.l
7. General Electric Company
8. Jupiter Oxygen Corporation
9. Praxair Technology Inc
10. Linde AG

Recent Developments

Recent Developments

December 2023- Air Liquide planned to develop a world-scale CO? collection facility to help decarbonize Rotterdam's industrial area.
January 2024- Hitachi announced the completion of an absorption-type split agreement to enhance the energy and facility management service business through a company split.
January 2024- GE Vernova and IHI announced the next step of their technology roadmap, which aims to produce a gas turbine combustion system capable of using 100% ammonia by 2030.

Segmentation

1. By Offering
   1. Solution
   2. Service
2. By End-User
   1. Oil and Gas
   2. Power Generation
   3. Glass Manufacturing
   4. Industrial
   5. Metals and Mining