The regenerative thermal oxidizer (RTO) market was valued at US$ 8. 55 billion in 2019 and is projected to reach US$ 11. 75 billion by 2027; it is expected to grow at a CAGR of 4. 2% from 2020 to 2027. Air pollution is a critical concern for every government on the globe.
New York, July 17, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Regenerative Thermal Oxidizer Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; End User" - https://www.reportlinker.com/p05932685/?utm_source=GNW
Owing to this, the governments worldwide are actively emphasizing on the reduction of air pollution levels. Industrialization is a major cause of air pollution; however, it also benefits the governments in terms of GDP. Thus, they have been imposing stringent rules and norms to fight air pollution without reducing the count of manufacturing units. These rules and regulations set by the governments are boosting the adoption of thermal oxidizers among the industries.
Based on end user, the RTO market is segmented into automotive, chemicals, coating and printing, pharmaceuticals, food & beverages, semiconductor, and others.In 2019, the chemicals segment dominated the market; and it is also anticipated to grow register the fastest CAGR during 2020-2027.
The pharmaceuticals industry held the second-largest share of the market in 2019.In 2019, CPI installed an electrically heated catalytic oxidizer to destruct EtO emissions at the Midwest medical product manufacturing company.
Again in 2018, the company installed new VECTOR Series Catalytic Oxidizer (CatOx) for the abatement of VOCs at a pharmaceutical product manufacturer in the Western US.
Based on geography, the RTO market has been segmented into North America, Europe, APAC, SAM, and the MEA.Presently, Europe holds the largest share of global market owing to massive presence of manufacturing units of food & beverages, automobiles, aerospace, chemicals, pharmaceuticals, and semiconductor industries in this region.
In terms of market share, APAC and North America stood second and third, respectively, in the market in 2019.North America is characterized with the presence of well-developed nations such as US and Canada, which drives the adoption of air pollution control systems.
The US is actively focusing on minimizing the emission of airborne pollutants, which is compelling the manufacturers to invest significant amounts towards the adoption of RTO systems.
Alliance Corporation, Anguil Environmental Systems, Inc., Catalytic Products International, Condorchem Envitech, Eisenmann SE, FiltracníTechnika, Spol. sr.o., Shandong Baolan Environmental Protection Engineering Co., Ltd., Ship & Shore Environmental, Inc., Taikisha Ltd., and The CMM Group LLC are among the major players present in the global RTO market.
Impact of COVID-19 Pandemic on Regenerative Thermal Oxidizer (RTO) Market
The ongoing COVID-19 pandemic continues to bring long-terms disruption across several major process as well as discrete industries, including automotive, chemicals, general manufacturing, electrical and electronics, and pharmaceuticals.However, the critical industries such as food & beverages, pharmaceuticals, power generation, and chemicals have noticed limited disruption during the pandemic across different economies owing to their significance in utilities and essential supplies.
As a result, the prevalence of nation-wide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities and the production of components, equipment, controllers, and raw materials of RTO solutions across several manufacturers especially the small & medium enterprise owners. Moreover, the limited production activities, along with disappearing demand from end-user industries, are expected to lower the overall market revenue during 2020, resulting in decline in the market growth in the next few years.
Overall size of the global regenerative thermal oxidizer (RTO) market has been derived in accordance with primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the regenerative thermal oxidizer (RTO) market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the RTO market.
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