Industrial Combustion Control Components and Systems

Industrial Combustion Control Components and Systems

Global Industrial Combustion Control Components and Systems Market to Reach $29.6 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Industrial Combustion Control Components and Systems estimated at US$21.1 Billion in the year 2020, is projected to reach a revised size of US$29.6 Billion by 2027, growing at a CAGR of 5% over the analysis period 2020-2027. Energy & Power, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Process Industry segment is readjusted to a revised 4.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.7 Billion, While China is Forecast to Grow at 7.6% CAGR

The Industrial Combustion Control Components and Systems market in the U.S. is estimated at US$5.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.1 Billion by the year 2027 trailing a CAGR of 7.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.9 Billion by the year 2027.

Oil & Gas Segment to Record 5.7% CAGR

In the global Oil & Gas segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$4.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 6.9% CAGR through the analysis period.

Select Competitors (Total 12 Featured) -

• ABB Group
• ACL Manufacturing
• Alfa Laval AB
• Applied Control Engineering, Inc.
• Combustion Controls Solutions & Environmental Services, Inc.
• Emerson Electric Company
• Honeywell International, Inc.
• Mitsubishi Heavy Industries Ltd.
• NOREC Automation
• Rockwell Automation, Inc.
• Siemens AG
• Sigma Thermal
• United Technologies Corporation (UTC)
• Yokogawa Electric Corporation

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