Rockville, MD , Sept. 25, 2024 (GLOBE NEWSWIRE) -- The newly published report by Fact.MR, a market research and competitive intelligence provider estimates that the global Industrial Combustion Control Component and System Market is evaluated to reach US$ 19.31 billion in 2024. The market is further projected to advance at a CAGR of 5.8% between 2024 and 2034.
Industrial combustion control systems and components are in high demand globally due to their wide range of applications in several industries. These systems are essential for maximizing fuel economy, cutting emissions, and improving overall process control in sectors including metallurgy, oil and gas, power generation, and chemical manufacturing.
Several businesses are increasingly using sophisticated combustion control systems to achieve emissions limits while preserving operating efficiency as environmental rules become more strict internationally. Cleaner and more economical operations are the outcome of these systems' precise control over temperature regulation, exhaust gas composition, and air-fuel ratios.
Demand has also increased because of the increased emphasis on sustainability and energy efficiency. Components for industrial combustion control aid in maximizing heat transmission and minimizing fuel use, which results in considerable cost savings and lower carbon footprints. The global market for these vital parts and systems is still growing quickly as businesses aim for increased automation and process optimization.
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Key Takeaways from Market Study:
- The global industrial combustion control component and system market is forecasted to reach a value of US$ 33.94 billion by the end of 2034.
- North America is evaluated to reach US$ 11.57 billion by the end of 2034.
- Revenue from the market in the United States is approximated to increase to US$ 9.28 billion by 2034-end.
- Spain is projected to occupy a share of 13.8% in the Western Europe market by 2034.
- Among several products, the component segment is projected to reach a worth of US$ 7.22 billion in 2024.
- The market in Canada in North America is analyzed to expand at a CAGR of 6% through 2034.
“Improved energy efficiency and enhanced environmental compliance are escalating the market opportunities for industrial combustion control components and system providers,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Industrial Combustion Control Component and System Market:
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.
Incorporation of Advanced AI Technologies Accelerating Market Growth:
The incorporation of machine learning and artificial intelligence into combustion control systems is one noteworthy advancement. These intelligent systems will adjust to changing fuel quality and load circumstances by continually optimizing combustion parameters in real time.
This leads to less emissions and increased efficiency in several operating circumstances. The creation of sophisticated sensors and analytics tools is another innovation. Big data analytics combined with high-precision sensors provide operators with a comprehensive understanding of combustion processes. Predictive maintenance, early defect identification, and proactive optimization techniques are made possible by this.
With the introduction of IoT-enabled combustion control systems, operational flexibility has increased and downtime has decreased due to remote monitoring and control. These developments are opening up sophisticated combustion control to a wider variety of sectors worldwide, owing to their better user interfaces and smooth connection with current industrial automation systems.
Industrial Combustion Control Component and System Industry News:
Emerson's state-of-the-art automated technology was delivered to Toyota's hydrogen production and refuelling facilities in Australia in May 2022. DeltaV systems from Emerson manage operations to improve production efficiency and promote safe practices. Integration of third-party systems will become much simpler and less expensive thanks to Emerson's edge control technology in PAC Systems.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the industrial combustion control component and system market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (components [valves, actuators, sensors, control motors, combustion enclosures, flow meters, others], systems[emission monitoring systems, emission control systems]), end use (chemical, mining & metal, oil & gas, energy & power, process industries, others), application (boilers, incinerators, dryers, thermal oxidizers, gas turbines), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Segmentation of Industrial Combustion Control Component and System Market Research:
- By Product :
- Components
- Valves
- Actuators
- Sensors
- Control Motors
- Combustion Enclosures
- Flow Meters
- Others
- Systems
- Emission Monitoring Systems
- Emission Control Systems
- Components
- By End Use :
- Chemical
- Mining & Metal
- Oil & Gas
- Energy & Power
- Process Industries
- Others
- By Application :
- Boilers
- Incinerators
- Dryers
- Thermal Oxidizers
- Gas Turbines
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