What are the Historical Developments and Current Growth Metrics of the Combustion Controls Equipment And Systems Market?
The combustion controls equipment and systems market has seen considerable growth due to a variety of factors.
• The market size of the combustion controls, equipment, and systems has seen significant expansion in the past few years. The market size is predicted to escalate from $141.11 billion in 2024 to $150.18 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%.
The growth throughout the historical period can be traced back to rigorous emission laws, growth in industrial automation, increasing energy needs, the rise of thermal power plants, and an emphasis on energy efficiency.
What is the Forecasted Market Size and CAGR for the Combustion Controls Equipment And Systems Market Size In The Coming Years?
The combustion controls equipment and systems market is expected to maintain its strong growth trajectory in upcoming years.
• Within the upcoming years, a robust increase is projected for the market of combustion controls, equipment, and systems. The market is forecasted to reach $190.58 billion by 2029, expanding at a compound annual growth rate (CAGR) of 6.1%.
This substantial market growth during the forecast period can be credited to factors such as increased integration of renewable energy, the expanded demand for natural gas, more stringent environmental regulations, the progression of smart grid technology, and a rise in IoT adoptions. Key trends projected during the forecast period include the increased integration with AI and machine learning, the creation of more compact systems, the growing utilisation of digital twins, a move towards cleaner fuel options, and a surge in demand for remote surveillance.
What Key Factors and Trends Are Driving The Growth Combustion Controls Equipment And Systems Market?
The growth of the market for combustion controls, equipment, and systems is linked to the escalating demand for electricity. There are multiple factors boosting this demand, such as population increase, urban development, economic expansion, and enforcement of policies aimed at addressing climate change. By optimizing power plant efficiency and emissions, combustion controls, equipment, and systems support a more dependable and eco-friendly generation of electricity, thereby fulfilling the increasing demand. This was exemplified in January 2024 when the International Energy Agency (IEA), an autonomous intergovernmental body based in France, reported that the global demand for electricity surged by 2.2% in 2023. Additionally, the United States saw a 2.6% rise in electricity demand in 2022. Thus, the growing need for electricity propels the expansion of the combustion controls, equipment, and systems market.
What Are The Market Segments In The Combustion Controls Equipment And Systems Market?
The combustion controls, equipment, and systems market covered in this report is segmented –
1) By Product: Boilers, Systems And Monitoring, Control Instrument
2) By Systems: Process Management Systems, Emission Control Systems
3) By Application: Process Industries, Metallurgy, Refining And Petrochemicals, Cement Industry, Energy And Power, Aerospace And Marine, Other Applications
Subsegments:
1) By Boilers: Fire-Tube Boilers, Water-Tube Boilers, Electric Boilers, Condensing Boilers
2) By Systems and Monitoring: Combustion Management Systems, Emission Monitoring Systems, Fuel Management Systems, Safety Shutdown Systems
3) By Control Instrument: Temperature Controllers, Pressure Controllers, Flow Meters, Oxygen Analyzers
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What Trends Are Shaping The Combustion Controls Equipment And Systems Market?
Top firms in the market for combustion controls, equipment, and systems are prioritizing technological developments, such as connectivity and control devices, to augment safety measures and favor seamless blending with current systems. These instruments persistently track and modify combustion variables like fuel flux, air input and output emissions to ascertain efficient and secure functioning. For example, in June 2023, Honeywell, an American electrical and electronic manufacturer, unveiled the DG Smart Sensor. This product is structured to boost combustion systems by enhancing low pressure combustion air and fuel gases' monitoring and control. It aligns with the shift to digital happening in Industry 4.0, honing operational productivity for OEMs, end clients, and system integrators. The DG Smart Sensor supports MODBUS TCP digital conversation and includes a 4-20mA NAMUR analog output, making compatibility with extant systems effortless. The emergence of the DG Smart Sensor marks a remarkable progression in combustion technology, thereby accelerating process heating efficiency and propelling the advancement of combustion systems.
Who Are the Key Players In The Combustion Controls Equipment And Systems Market?
Major companies operating in the combustion controls
• equipment
• and systems market are:
• Siemens AG
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Alstom SA
• Emerson Electric Co.
• Doosan Corporation
• Andritz AG
• Rockwell Automation Inc.
• Valmet Corporation
• Alfa Laval AB
• Yokogawa Electric Corporation
• The Babcock & Wilcox Company
• Rotork Plc
• Zeeco Inc.
• Cleaver-Brooks Inc.
• John Zink Hamworthy Combustion
• FIVES Group
• AEREON S.R.L
• Bloom Engineering Company Inc.
• Callidus Technologies Inc.
What Are The Regional Insights Into The Combustion Controls Equipment And Systems Market?
Asia-Pacific was the largest region in the combustion controls, equipment, and systems market in 2024. The regions covered in the combustion controls, equipment, and systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
