Report : South America Oxy Fuel Combustion Technology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offerings (Solution and Services), End-Use Industry (Oil & Gas, Power Generation, Manufacturing, Metal & Mining, and Others)Â Â
Metals & Mining Segment is Expected to be Fastest Growing During the Forecast Period for SAM Region
According to a new market research study on “SAM Oxy fuel combustion technology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offerings and End-Use Industry” is expected to reach US$ 22.22 million by 2028 from 16.53 US$ million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the SAM oxy fuel combustion technology market along with the drivers and restraints pertaining to the market growth. Surging government initiatives to curb air pollution is the major factor driving the growth of the SAM oxy fuel combustion technology market. However, issues associated with high cost associated with oxy fuel technology solutions hinders the growth of SAM oxy fuel combustion technology market.
SAM oxy fuel combustion technology market is segmented into offerings, end-use industry, and country. Based on offering, the SAM oxy fuel combustion technology market is segmented into solution and services. The solution segment held a larger market share in 2020. Based on end-user industry, the SAM oxy fuel combustion technology market is segmented into oil & gas, power generation, manufacturing, metal & mining, and others. Power generation segment held a larger market share in 2020. Based on country, the SAM oxy fuel combustion technology market is segmented into Brazil, Argentina, and rest of SAM. South Africa held the largest market share in 2020.
In SAM, Brazil reported the highest number of COVID-19 cases. The country imposed strict curfew during the initial stages of the COVID-19 pandemic. This impacted the overall supply chain and logistics process. Oxy fuel combustion technology providers have faced fluctuating demand for the technology from various industries, specifically glass and metal. They also faced challenges due to the cancellation of several new projects and delay in ongoing projects. Furthermore, these companies faced issues in acquiring capital on favorable terms. However, the power and waste disposable industries continued to generate demand for oxy fuel combustion technology amid the lockdown period. Therefore, oxy fuel combustion technology firms were able to manage their cashflow during this period.
Air Liquide SA; Air Products and Chemicals, Inc.; General Electric Company; Hitachi, Ltd.; Jupiter Oxygen Corporation; and LINDE are among the leading companies in the SAM oxy fuel combustion technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
SAM Oxy Fuel Combustion Technology Market, By Country, 2020 and 2028 (%)
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