Industrial Combustion Control Components and Systems Market reflecting a CAGR of 6.1%, to reach a valuation of US$ 27.60 Bn in 2026 end Worldwide

As per the numbers given in this research report, the global industrial combustion control components and systems market is estimated to be valued at US$ 17,139.9 Mn in 2018 and is forecasted to reach a valuation of US$ 27,604.3 Mn in 2026 end, reflecting a CAGR of 6.1% during the period of assessment 2018-2026.

As per the data provided by the United States Energy Information Administration, in 2018, the population of the world was 7.6 billion and the power consumption is estimated to increase by 48 percent between 2012 and 2040. Most of this growth is concentrated in the Asian countries, Europe and Middle East and Africa. Due to this ever-increasing worldwide energy demand, the demand for thermal plants will be significantly increased. This in turn, will drive the market of industrial combustion control systems and components.

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Stringent regulations enacted by various governments regarding emissions is boosting the market growth

Due to the adverse effects of climate change, the governments across the world have been forced to enact strict regulations on the emissions of sulfur oxides, nitrogen oxide and particulate matters. Paris agreement by UNFCC, EPA guidelines by the United States government for waste water management, new emission standards by the government of China to restrict the emission of VOCs (volatile organic compounds) in the country are some examples of such stringent regulations. These type of new regulations will also contribute to the growth of the industrial combustion control components and systems market.

Players in the industrial automation and equipment industry continue to face an environment that remains hyper-competitive. Evolution in end-user demand is influencing players in the industrial automation and equipment landscape to optimize their manufacturing process. Sluggishness in the oil & gas industry, muted growth in automotive sales, and stagnancy in the agriculture sector have posed challenges to players in the recent past.

With the increase in oil rigs and natural gas projects being quoted, various companies are making reinvestments, to either cater requirement of preventative maintenance or for generating a better ROI. Investing in infrastructure development remains a top priority for the industrial automation and equipment companies, with improvements in energy- and operational-efficiency gaining center stage.

The development of streamlined 2-3 layer automation systems helped the industry in lowering maintenance costs and enhancing performance. The trend towards simplification of 5 layer system model, which the automation industry has been focusing on over the years, is witnessing acceleration. Innovation in development of controllers, sensors and intelligent devices has meant that todays computing processes are more effective.

Global Industrial Combustion Control Components and Systems Market: Segmentation and Forecast

The global industrial combustion control components and systems market is segmented on the basis of product, end-use, application and region.

In terms of value, the component segment was valued at US$ 86.9 Mn at 2017 end. This segment is estimated to grow with a CAGR of 4.8% and reach a value of US$ 131.7 Mn by the end of 2026.
The boilers segment was valued at US$ 5,134.7 Mn by 2017 end.
The energy and power segment is estimated to account for 26.5 percent of the market value share by 2018 end.
North America market is estimated to exhibit a CAGR of 4.8% and reach a value of US$ 4,707.5 Mn by the end of 2026.

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Global Industrial Combustion Control Components and Systems Market: Competition Landscape

In this research report, some of the major players that are functioning in the global industrial combustion control components and systems market have been profiled in the competition landscape section. Some of the companies that have been profiled in the competition landscape section of this report include Emerson Electric Co., ABB Ltd., Honeywell International Inc., Sigma Thermal Inc., Applied Control Engineering, Inc., Siemens AG, United Technologies Corporation, Alfa Laval Corporate AB, Mitsubishi Heavy Industries, Ltd., Yokogawa Electric Corporation, Thermax Ltd., Rockwell Automation, Inc., Norec Automation, Combustion Controls Solutions & Environnemental Services, Inc. and ACL Manufacturing Inc.

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