The North America Regenerative Thermal Oxidizer market is growing along with the Manufacturing and Construction industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
The regenerative thermal oxidizer market in North America is expected to grow from US$ 1.96 Bn in 2019 to US$ 2.52 Bn by 2027; it is estimated to grow at a CAGR of 3.3% from 2020 to 2027.The increase in emission of toxic substances and stringent rules and norms from governments are driving the growth of regenerative thermal oxidizer market across the region. However, the availability and rising adoption of substitute products is a hindering factor to the regenerative thermal oxidizer market growth. Further, rise in industrialization in developing countries to stimulate demand for RTO, thereby bolstering the growth of the regenerative thermal oxidizer market.
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The United States Environmental Protection Agency (EPA) has established maximum concentration of ozone which can be in an ambient air. Ozone is formed by reaction of nitrogen oxides, VOCs, and sunlight. Therefore, to control harmful impact of these containments and toxic fumes, need of RTO is rising globally. The North America region is characterized with the presence of well-developed nations such as US, Canada, and Mexico which drives the adoption of air pollution control systems. The US actively focusing on minimizing the emission of airborne pollutants, which is compelling the manufacturers to invest significant amounts towards the adoption of RTO systems.
These factors are expected to offer broad growth opportunities in the Manufacturing and Construction industry and this is expected to cause the demand for Regenerative Thermal Oxidizer in the market.
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NORTH AMERICA REGENERATIVE THERMAL OXIDIZER MARKET SEGMENTATION
- Single Bed RTO
- Double Bed RTO
- Triple Bed RTO
- Coating and Printing
- Alliance Corporation
- Anguil Environmental Systems
- Catalytic Products International
- Condorchem Envitech
- EISENMANN SE
- Shandong Baolan Environmental Protection Engineering Co., Ltd.
- Ship & Shore Environmental, Inc.
- Taikisha Ltd
- THE CMM GROUP, LLC
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