Global Industrial Boiler Market 2019-2023
About this market
Increased adoption of microgrids to gain traction in the market. A microgrid can connect and disconnect from the power grid to operate in grid connected mode and island mode. The increased adoption of microgrids will enhance the use of renewable energy sources, which will drive the thin film solar PV modules market. Technavio’ s analysts have predicted that the thin film solar PV modules market will register a CAGR of more than 16% by 2022.
Increasing investments in renewable energy
Several countries in Europe such as Norway, Iceland, and Sweden rely on renewable sources for more than half of their total demand for annual power. This increase in dependence on renewable sources to produce electricity is due to the implementation of stringent emission norms in countries in the EU.
Intermittency in solar power generation
The decline in the prices of solar technology is significantly increasing the adoption of solar PV systems, thereby raising the number of solar power installations. However, the intermittent nature of solar power is a significant challenge that affects its adoption.
For the detailed list of factors that will drive and challenge the growth of the thin film solar PV modules market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including First Solar and Hanergy Holding the competitive environment is quite intense. Factors such as the increasing investments in renewable energy and the increased adoption of microgrids, will provide considerable growth opportunities to thin film solar PV modules manufactures. First Solar, Hanergy Holding, SOLAR FRONTIER K.K, Solar Power Systems, and TSMC Solar are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Industrial Boiler Market 2019-2023
Technavio recognizes the following companies as the key players in the global industrial boiler market: Babcock & Wilcox, Cleaver-Brooks, Henan Province Sitong Boiler, MIURA, Thermax Global, and Xizi United Holdings.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing demand for multi-fuel boilers.”
According to the report, one of the major drivers for this market is the growing demand for multi-fuel boilers."
Babcock & Wilcox
Henan Province Sitong Boiler
Xizi United Holdings"
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