CO Combustors Market: Introduction
CO combustors are used in process industries to remove harmful components from carbon monoxide by oxidation. These harmful gases cannot be emitted into the atmosphere as they are harmful to the environment as well as human beings. Technically, a CO combustor is a type of incinerator that consists of a refractory line vessel with burners and injectors to combust gases such as carbon oxide.
The key advantage of a CO combustor is that it is a cost-effective and reliable solution for end-user industries such as refinery. CO combustors are constructed with enclosed stainless steel material. The customized and retrofitting CO combustors for large sites are growing in power generation applications. The chemical & petrochemical and refining industries have key applications of CO combustors.
CO Combustors Market: Market Dynamics
The manufactures are enhancing their designs and building CO combustors for the end users based on their applications. CO combustors are better than water-wall combustor units in terms of CO destruction and fuel consumption. These have driven the installation of CO combustors over the water wall combustor units.
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The regulations laid by the European Union regarding carbon emission have driven the installation of CO combustors. However, refineries are getting shut down in developed economies, especially in Western Europe. This factor will have a negative impact on the adoption rate of CO combustors. The recent trend is the integration of CO combustors with SCADA and control panels for remote monitoring in the developing economies. The developments related to solar panel package in CO combustors for remote locations will also drive the market in the forecast period.
CO Combustors Market: Segmentation
The global CO combustors market can be segmented into type and application.
On the basis of type of solution, the global CO combustors market is segmented into:
- Forced Circulation
- Natural Circulation
On the basis of end use, the global CO combustors market is segmented into:
- Oil & Gas Industry
- Chemical & Petrochemical Industry
- Marine Industry
- Mining Industry
- Power Generation Industry
- Metals & Minerals Industry
CO Combustors Market: Regional Outlook
Asian countries are the leading consumers of CO combustors and the market is driven by the growing population and the continuous refinery operations. The developing economies in the Asian region have increased market concentration. Hence, manufacturers of CO combustors are looking for new contracts. The CO combustor market in Latin America is expected to have a steady growth trend over the forecast period in countries such as Brazil, Mexico, Peru, and Argentina. The refineries in Africa will be the key end users for CO combustors in MEA region. The investment in new refineries in Gulf countries will increase the market growth of CO combustors.
North American countries such as the US and Canada will have a moderate growth trend in the global CO combustors market. The coal fed refineries are reducing in number globally, but the production of shale gas in the US and Canada is driving the CO combustors market. The European region is highly regulated in terms of flue and greenhouse gas emission from the industries and it will provide a positive impact for the growth of the CO combustors market. The market entry for new players in the global CO combustors market is less as it involves high investment.
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CO Combustors Market: Key Participants
Some of the key market participants in the global CO combustors market are:
- de Jong Groep
- Amec Foster Wheeler
- Brayton Energy, LLC
- Catalytic Products International
- Cimarron Energy.
- COMM Engineering
- IES Combustors
- MRW Technologies, Inc
- National Oilwell Varco
- Precision Combustion, Inc.
- Zeeco, Inc.