Wilmington, Delaware, United States, May 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Considerable demand for regenerative incinerators to remove volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) in multiple industries is anticipated to augment market growth. The usage of regenerative thermal oxidizer (RTO) is, thus, rapidly increasing for the removal of hazardous or unwanted pollutants in metalworking and coating industries.
The regenerative thermal oxidizer (RTO) market was valued at US$ 9.6 Bn in 2022 and is projected to grow at a CAGR of 4.9% from 2023 to 2031.
Continuous R&D of air pollution control technologies is likely to spur market development in the near future. Significantly lower operating cost than conventional thermal oxidizer systems is anticipated to bolster adoption of these products in industries such as pharmaceutical, food processing, mining, oil & gas, chemical manufacturing, and printing & packaging. Automotive companies and OEMs are utilizing reliable and cost-efficient air pollution control system to keep VOCs within the allowable levels. This trend is anticipated to augment market size in the next few years.
Extensive demand for air pollution control technologies for the removal of one or more hazardous air pollutants (HAPs) from stationary sources, such as from power plants, factories, refineries, and boilers, in several industries is expected to offer significant business opportunities to companies in the regenerative thermal oxidizer (RTO) market.
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Key Findings of Study
- Surge in Usage of Double Bed Regenerative Thermal Oxidizers to Meet Air Pollution Requirements: Based on type, the double bed regenerative thermal oxidizers segment is projected to account for leading share of the global market in the near future. High thermal efficiency, low fuel consumption, and compact size of the equipment are key benefits likely to fuel adoption of double-bed RTOs in end-use industries. Rise in preference of these over other RTOs across end-use industries can be ascribed to significant demand for energy-efficiency emission control systems. Rapid increase in demand for energy-efficient air pollution control system in the chemical and pharmaceutical processing industries is likely to boost the regenerative thermal oxidizer (RTO) industry value.
- Considerable Demand in Food Processing Industries: Regenerative thermal oxidizer (RTO) is widely used in the food processing industry in a range of operations such as baking, frying, and roasting. Rapid increase in usage of RTOs for the removal of VOCs and other hazardous air pollutants in these processes is anticipated to bolster the market.
Key Drivers
- Advancement in emission control technology used in chemical manufacturing industries is expected to propel the regenerative thermal oxidizer (RTO) industry. Rapid pace of industrialization, especially in developing regions, has encouraged investment in advanced emission control systems in various processes in batch and continuous flow processing.
- Rapid increase in demand for regenerative thermal oxidizer (RTO) in the food processing industry is expected to drive the market. Stringent implementation of regulations by agencies such as the United States Environmental Protection Agency (EPA) is likely to strengthen demand for regenerative thermal oxidizer (RTO).
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Regional Growth Dynamics
- North America is anticipated to account for leading market share from 2023 to 2031. Constant update in regulations pertaining to air pollution control in multiple industries in the U.S. is propelling market growth. Stringent implementation of these regulations in the automotive and pharmaceutical industries across the region is expected to fuel the market.
- Asia Pacific is a lucrative market for regenerative thermal oxidizer (RTO). Steadily rising demand for regenerative thermal oxidizers in multiple industries is anticipated to create substantial opportunities in the region.
Competition Landscape
The regenerative thermal oxidizer (RTO) market is intensely competitive, with a few large players competing to control majority stake. Product innovation, merger & acquisition, and expansion of product portfolio are some of the competitive strategies adopted by top players to increase market share from 2023 to 2031.
Leading companies operating in the market are
- Air Clear LLC
- Anguil Environmental System
- Biothermica Technologies Ltd.
- Catalytic Products International Inc.
- Condorchem Evitech
- The CMM Group
- Ship & Shore Environmental Systems LLC
- TKS Industrial Company
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Regenerative Thermal Oxidizer Segmentation
By Type
- Single Bed
- Double Bed
- Triple Bed
Product Type
- Rotatory
- Compact
Control System
- Volatile Organic Compounds
- Hazardous Air Pollutants
- Odor
Power Source
- Gas
- Electricity
Size
- Small
- Medium
- Large
End-use Industry
- Printing & Packaging
- Chemical Manufacturing
- Oil & Gas
- Food Processing
- Automotive
- Others (Mining, Pharmaceutical, Semiconductor)
Distribution Channel
- Direct
- Indirect
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