Report : Europe Oxy Fuel Combustion Technology Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Offerings (Solution and Services) and End-User Industry (Oil & Gas, Power Generation, Manufacturing, Metal & Mining, and Others)
At 11.1% CAGR, the Europe Oxy Fuel Combustion Technology Market is speculated to be worth US$ 271.19 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Europe oxy fuel combustion technology market was valued at US$ 143.93 million in 2022 and is expected to reach US$ 271.19 million by 2028, registering a CAGR of 11.1% from 2022 to 2028. Increasing government initiatives to reduce air pollution and rising demand for minimizing gas emissions in industrial processes are the critical factors attributed to the Europe oxy fuel combustion technology market expansion.
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 a few benefits of using oxy fuel combustion technology. Oxy-fuel combustion is one of the major methods available in the industry for cost-effective, technically feasible carbon capture. The most common oxy-fuel process involves pulverized coal being burned in an atmosphere of nearly pure oxygen (greater than 95% and up to 99%) mixed with recycled flue gas. Similarly, because oxygen is used for combustion and the re-burning mechanism through flue gas recycle, oxy fuel combustion has the inherent advantage of producing low NOx emissions compared to most other combustion technologies. Thus, the reduction in emission of industrial gases such as carbon dioxide and nitrous oxide is influencing the adoption of oxy fuel combustion technology among various industries such as manufacturing, metal & mining, oil & gas, and power generation, thereby contributing to the oxy fuel combustion technology market growth. Furthermore, market players are increasingly focusing on technological developments in oxy fuel combustion to reduce gas emissions. Thus, the increasing technological developments by the market players to reduce gas emissions bolster the Europe oxy fuel combustion technology market growth.
On the contrary, high energy requirement and high cost associated with oxy fuel technology solutions hurdles the growth of Europe oxy fuel combustion technology market.
Based on offerings, the Europe oxy fuel combustion technology market is segmented into solution and services. The solution segment held 73.5% share of Europe oxy fuel combustion technology market in 2022, amassing US$ 105.82 million. It is projected to garner US$ 194.98 million by 2028 to expand at 10.7% CAGR during 2022–2028.
Based on end-user industry, the Europe oxy fuel combustion technology market is segmented into oil & gas, power generation, manufacturing, metal & mining, and others. The power generation segment held 37.5% share of Europe oxy fuel combustion technology market in 2022, amassing US$ 54.02 million. It is projected to garner US$ 97.99 million by 2028 to expand at 10.4% CAGR during 2022–2028.
Based on country, the Europe oxy fuel combustion technology market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 29.8% share of Europe oxy fuel combustion technology market in 2022. It was assessed at US$ 42.96 million in 2022 and is likely to hit US$ 75.93 million by 2028, exhibiting a CAGR of 10.0% during the forecast period.
Key players dominating the Europe oxy fuel combustion technology market are Air Liquide SA, Air Products & Chemicals Inc, ESA SpA, Falorni Gianfranco SRL, General Electric Co, HeidelbergCement AG, Hitachi Ltd, Jupiter Oxygen Corp, and Linde Plc among others.
- In May 2021, Linde has recently announced the development of a CO2-free combustion technology to help reduce carbon emissions from industrial processes. This innovative technology, which utilizes oxy-fuel combustion, aims to achieve a significant reduction in CO2 emissions by replacing traditional combustion with pure oxygen.
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