Global Industrial Boiler Market Size By Capacity (<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr ), By Product (Fire-tube, Water-tube), By Technology (Condensing, Non-condensing), By Fuel (Natural Gas, Oil, Coal), By Application (Food, Paper, Chemical, Refinery, Primary Metals), Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Japan, South Korea, Australia, Indonesia, Philippines, Saudi Arabia, Iran, UAE, Egypt, Nigeria, Kenya, Morocco, South Africa, Brazil, Argentina, Columbia, Chile, Venezuela) , Competitive Market Analysis & Forecast, 2018 - 2024
Global Industrial Boiler Market is predicted to reach over USD 14 billion by 2024. Growing focus toward automation coupled with rapid industrialization will augment the product adoption. Growing measures to reduce reliance on conventional fuel along with stringent government mandates will stimulate the industry growth. For instance, the European Union in 2015, issued a Directive (EU) 2015/2193 which regulates the pollutants emission from less than 50 MWth rated thermal input plants.
Rising infrastructural investment along with continued regulatory support will drive the China industrial boiler market. Under its 13th FYP (2016-2020), the country has planned robust growth and expansion of its manufacturing sector which will complement the business landscape. Increasing per capita income coupled with growing population will further propel the industry growth. The United Nations in 2017, has predicted the population of China to reach over 1.4 billion by 2022.
U.S. industrial boiler market is set to witness growth on account of increasing investment for the replacement of conventional heating systems intended toward environmental compliance. able growth in the refining capacity to serve the rising demand of fuel will further elevate industry growth. In 2017, the U.S Energy Information Administration estimated growth of over 1.6% in the operational crude distillation capacity as compared to 2016.
>250 MMBtu/hr industrial boiler market is predicted to grow over 4% by 2024. These units find applications majorly across industries including refinery, chemical, pulp & paper and others. Robust demand for packaging of e-commerce product & rising retail activities will further propel the product penetration across pulp and paper industry.
Water tube industrial boiler market is anticipated to expand over 3% by 2024. Efficient performance, rapid circulation and flexibility in design are few imperative factors which will propel the product deployment. Moreover, rising demand for steam generating solution from large and medium-scale industries will drive the product adoption.
Natural gas fired industrial boiler market is predicted to grow over 4% by 2024. Stringent emission norms along with legislative directives encouraging the use of clean fuel will propel the demand for these steams generating units. For instance, the EU Directive 92/42/EEC has issued guidelines for energy conservation, emission reduction & energy efficiency in key economic sectors.
Food processing & beverage industry will fuel the industrial boiler market on account of fiscal policies and robust macro-economic indicators. Rising average income in major economies along with escalating demand for packaged food will complement the business growth. For instance, in 2016, the retail sale of processed food in Poland was estimated over USD 17 billion & is predicted to reach over USD 20 billion by 2021.
Eminent participants in global industrial boiler market includes Saudi Boilers, Mitsubishi Heavy Industries, Fulton, Babcock and Wilcox, Hurst Boiler, Clayton, Bharat Heavy Electricals, Doosan Corporation, Thermax, Cleaver-Brooks, Forbes Marshall, Cochran, Rentech, Parker Boilers and Foster Wheeler.
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