Europe 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)             

Europe 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)             

The oxy fuel combustion technology market in Europe is expected to grow from US$ 123.71 million in 2021 to US$ 245.82 million by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028. Air pollution is one of the most serious health and environmental issues worldwide. Many of the leading causes of death, such as heart disease, stroke, lower respiratory infections, lung cancer, diabetes, and chronic obstructive pulmonary disease, are linked to air pollution, including outdoor and indoor particulate matter and ozone. It is at the top of the list in low-income countries. It was estimated that 5 million people died because of air pollution in 2017. Low-income countries have higher indoor pollution rates due to their reliance on solid fuels for cooking, and outdoor air pollution increases as countries industrialize and move from low to middle-income status. Hence, air pollution is more prevalent in both low- and middle-income countries.

Several initiatives have been taken by local and federal government bodies across the globe over the years for minimizing hazardous industrial air disposal. This is fueling the growth of the Europe oxy fuel combustion technology market.

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 the largest market share in 2020. Oxy fuel combustion is a relatively new method of generating electricity. The process uses highly concentrated oxygen inside a combustor where the oxygen is combined with a fuel, usually coal or natural gas, to produce a carbon dioxide (CO2) stream. The fuel and O2 react chemically, resulting in CO2 and water vapor. This propels a turbine that produces electricity. One of the main advantages of oxygen-rich combustion for power generation is that it produces pure CO2, which can be captured and reused or stored within the power plant rather than being released into the atmosphere as a pollutant. The CO2 captured could be used in refrigeration and cooling, carbonation in soft drinks, and other industries such as oil & gas.

Europe witnessed a varying impact of the COVID-19 pandemic across its economically diverse countries. For instance, governments of countries such as Germany, the UK, the Netherlands, and France imposed stringent restrictions and closed their borders to curb the virus spread. Additionally, countries such as Italy, Russia, and Spain witnessed a significant surge in cases, which led them to shut down business and manufacturing operations for a few months. However, several European countries witnessed swift recovery from the third quarter of 2020. Irrespective of a surge in the number of COVID-19 cases and the shutdown of business operations for months, manufacturers had to continue the production of essential goods or resume it earlier than other businesses. Oxy fuel combustion systems are necessary for waste disposal and power generation industries. These businesses generated a stable demand for these systems. The oxy fuel combustion system production plants were operating under strict COVID-19 guidelines. However, the lowered demand for other industrial areas such as glass production, metal production, and coating and spraying affected the overall cash flow of oxy fuel combustion technology providers.

The Europe oxy fuel combustion technology market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe oxy fuel combustion technology market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe oxy fuel combustion technology market. Air Liquide SA; Air Products and Chemicals, Inc.; ESA S.P.A.; FALORNI GIANFRANCO S.R.L; General Electric Company; HEIDELBERGCEMENT AG; Hitachi, Ltd.; Jupiter Oxygen Corporation; and LINDE are among the key players operating in the market in this region.

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