Market Research Future published a research report on “Industrial Boilers Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
The global industrial boiler market is expected to take the advantages of the call from various industries by sideling the conventional industrial boilers. The device is a closed vessel where fluid gets heated and generates steam for heating and humidification. Riding on these features, the global industrial boiler market is expected to gain 5.80% CAGR during the forecast period (2018-2024). Market Research Future (MRFR) claims that the global industrial boiler market could surpass the estimated valuation during the forecast period.
Factors to influence the global Industrial Boilers Market are increasing industrialization, structural overhauling, and environmental restrictions. The food processing firms are employing this technology to get rid off microbiological threats. Several industries are facing threats from governments owing to the carbon emission level that is why they are looking for new models. Recently, industrial boilers, that run on the natural gas and biomass, are expected to fill in this gap. But high maintenance cost can slacken the pace of the global industrial boiler market growth.
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Several companies in the industrial boilers market are getting inspiring the market by making contributions through strategic implementations. These companies are Babcock & Wilcox Co. (U.S.), Thermax Ltd. (India), General Electric Company (US), Doosan Heavy Industries & Construction (South Korea), Siemens (Germany), Dongfang Electric Corporation Ltd. (China), Harbin Power Equipment Co. Ltd. (China), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Hitachi Ltd. (Japan), Bharat Heavy Electricals Ltd. (India), and others. MRFR enlisted these companies and made a detailed report that includes latest updates and trends.
The global industrial boilers market, as per the study made by MRFR, can be segmented into type, fuel type, boiler horsepower, and end-user.
Based on the type, the industrial boilers market includes water-tube and fire-tube boilers. The fire-tube segment has the market lead as it can be used in a wide range of industrial application, providing higher efficiency, easy operation, and compact design.
Based on the fuel type, the industrial boilers market comprises natural gas & biomass, oil, coal, and others. The natural gas & biomass has the maximum global market coverage as its pervasive use in industries like chemical, metals & mining, and food processing are providing it traction. These segments are adopting natural gas as primary fuel, hence, the traction.
On the basis of boiler horsepower, the industrial boilers market is segmented into 10-150 HP, 151-300 HP, and 301-600 HP. The 10-150 BHP segment dominates the global market as most of the end-use industries, like chemical and food use boilers has a lot of application in this 10-150 BHP range. Increasing demand from the food & beverage sector is expected to take the segment forward.
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Asia Pacific (APAC), North America, Europe, the Middle East, Africa, and South America are the regions that have been studied well in the global industrial market report by MRFR. This effort is to understand the potential of each and every region to ensure high growth for the region.
North America is gaining mileage in the sector and is dominating the market on the basis of its rising demand for energy and structural changes in industries. Industries are moving towards advanced boilers leaving behind the traditional ones. Several companies are from this region, which is ensuring high growth for the market.
The APAC region is expected to show the highest CAGR during the forecast period. Industrial revamping, in countries like China and India, is expected to ensure high growth for the regional market.
In January 2019, Reedy Industries took over Roger Schweitzer and Sons in a bid to expand their boiler service. Reedy wishes to work on the Roger Schweitzer’s experience regarding installation, maintenance, and replacement of commercial and industrial boilers systems. Reedy hopes to solidify its market position in the coming years.
Table of Contents:
- Industrial Boilers Market Overview
- Manufacturers Profiles
- Sales, Revenue and Market Share By Manufacturer
- Global Industrial Boilers Market Analysis By Regions
- North America By County
- Europe By County
- Asia-Pacific By Regions
- South America By County
- Middle East And Africa By Countries
- Market Segment by Type
- Global Industrial Boilers Market Segment by Application
- Market Forecast
- Sales Channel, Distributors, Traders and Dealers
- Research Findings and Conclusion
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