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Insights on the Oxy Fuel Combustion Technology Global Market to 2028 - by Offerings, End-use Industry and Geography
April 26, 2021 06:28 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The global oxy fuel combustion technology market was valued at US$ 386.52 million in 2020 and is expected to grow at a CAGR of 9.6% during the forecast period from 2021-2028 to reach US$ 749.60 million by 2028.
The rising concern for carbon dioxide emission in the atmosphere is a major factor driving the oxy fuel combustion technology market. Anthropogenic CO2, that is CO2 produced because of human activities, comes from the combustion of fossil fuels in power plants, transportation, and industrial sources. Fossil fuels currently provide the most of the world s energy, and this situation is expected to persist for at least next few decades. Thus, to continue using fossil fuels in an effec