North 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)             

North 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)             

The oxy fuel combustion technology market in North America is expected to grow from US$ 143.18 million in 2021 to US$ 266.21 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. 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 just 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 recycling, 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 growth of the market.

Based on offering, the North America oxy fuel combustion technology market is segmented into solution and services. The solution segment held a larger market share in 2020. Oxy fuel combustion technology solutions are highly adopted across industries to maximize the efficiency of their combustion processes. Oxyfuel combustion solutions can help improve the carbon balance of fossil fuel combustion significantly. Coal is combusted in this process in an atmosphere of pure oxygen and carbon dioxide (CO2). As this purer mixture burns at a higher temperature than natural air, the combustion process is more efficient.

Furthermore, the resulting flue gas is largely made up of CO2 and water vapor, with no nitrogen present in the air to dilute it. As a result, the flue gas stream is smaller and easier to handle. These factors are influencing the adoption of oxy fuel combustion technological solutions, thereby contributing to market growth.

In North America, the US has reported a huge number of COVID-19 cases of more than 20 million, with California, Texas, Florida, and New York, among others, being the majorly affected areas. Although the federal government in the US did not impose nationwide lockdown in 2020, governors of a few states decided to impose lockdowns in their respective states. The lockdown hindered the operations of various industries, including chemical, manufacturing, hospitality, and IT. Despite the wide applications of oxy fuel combustion systems, the companies providing these systems have been facing fluctuating demands amid the pandemic, which can be attributed to the decline of economic activity and significant disruption and volatility in the market. Metal production, coating and spraying, waste disposal, power generation, and glass production are among the key industries with wide applications for oxy fuel combustion technology. However, oxy fuel combustion system providers were actively working and running the plant during this period, which allowed them to cater to the customer demands. This has helped them maintain their cashflows and revenues.

The North America 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 North America 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 North America oxy fuel combustion technology market. Air Liquide SA; Air Products and Chemicals, Inc.; 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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