The combustion equipment market is expected to grow at a significant CAGR of 4.8% during the forecast period. The major factors expected to drive the growth of the Combustion Equipment market during the forecast period are the large investment made with the goal of increasing power generation capacities, growing opposition to nuclear power, and rising concerns about volatile organic compounds and hazardous air pollution. The International Energy Agency (IEA) published a document that shows that nuclear power production is expected to grow around 46% by 2040 and more than 90% of the net increase will come from India and China. Besides shale gas combustion rise might be viewed as an opportunity in the market. This will create significant scope for the market growth.
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The COVID-19 pandemic has impacted the global economy due to a slowdown in the manufacturing of various industries. Due to the COVID-19 outbreak supply chain and manufacturing of industrial equipment have been severely disrupted. Outbreak across the world caused lockdown in almost every country, which has led the industry to shut down its operations and supply chain. The industry was started to pick up the pace as governments across the globe lifted the lockdown to revive the economy.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Combustion Equipment Market by Product
- Components
- Systems
- Monitoring & Control Instruments
Combustion Equipment Market by Application
- Process Industries
- Metallurgy
- Cement Industry
- Refining & Petrochemicals
- Energy & Power
- Aerospace & Marine
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Babcock & Wilcox Enterprises Inc.
- Callidus Technologies, L.L.C.
- Catalytic Products International
- Cleaver-Brooks, Inc.
- Dongfang Boiler Group Co., Ltd.
- Doosan Corporation
- Exelon Corporation
- General Electric Company
- Harbin Turbine Co. Ltd.
- Hitachi Ltd.
- Honeywell International Inc.
- Maxon Corp.
- Mitsubishi Heavy Industries Ltd.
- Nestec, Inc.
- Siemens AG
- Titan Logix Corp.
- Toshiba Corporation
The Report Covers
- Market value data analysis of 2022 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Combustion Equipment Market. Based on the availability of data, information related to the market, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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