The increasing demand for electricity and growth in industrial sector has generated the need of 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 closing down the nuclear power plants due to radioactive wastage generated by nuclear reactor which might cause deadly diseases such as cancer.
Power generation industry of 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 of power generation is more noticeable in developing economies.
The market of combustion equipment, controls & systems is segmented on 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 includes are boilers, oxidizers, thermal, gas turbines and incinerators. The systems covered process management systems and emission control systems. 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 geography such as North America, Europe, Asia Pacific (APAC), and RoW.
The main key players of global combustion equipment, controls & systems market are ABB, Alstom, Dongfang Boiler Group, Doosan, General Electric, Hitachi Ltd., Mitsubishi Heavy Industries, Siemens AG, The Babcock & Wilcox Company, and Toshiba among others.