The increasing demand for electricity and growth in the industrial sector has generated the need for power generation across the world. Growing resistance against nuclear power generation is influencing the growth of combustion equipment, controls & systems market. Countries such as Switzerland and Germany have decided to slowly close down the nuclear power plants due to radioactive wastage generated by nuclear reactors which might cause deadly diseases such as cancer.
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The power generation industry of the Asia Pacific (APAC) region is projected to drive the global combustion equipment, controls & systems market. China and India have planned to invest in growing power generation capacities. Thus the demand for power generation is more noticeable in developing economies.
The market of combustion equipment, controls & systems is segmented into three key verticals such as product type, end-user application & geography. The product type is sub-divided into components, systems, monitoring, and control instruments. The different components include are boilers, oxidizers, thermal, gas turbines, and incinerators. The systems covered process management systems and emission control systems.
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The several monitoring and control instruments are gas turbine inlet air filters, actuators, and valves, combustion analyzers, sensors such as temperature, pressure and level sensors, and flow meters The application are sub-segment into metallurgy, process industries, refining and petrochemicals, cement industry, aerospace, and marine and energy and power sectors .further, the market is segmented by geographies such as North America, Europe, Asia Pacific (APAC), and RoW.
The main key players of the global combustion equipment, controls & systems market are
- ABB, Alstom
- Dongfang Boiler Group
- General Electric
- Hitachi Ltd.
- Mitsubishi Heavy Industries
- Siemens AG
- The Babcock & Wilcox Company
- Toshiba among others.
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