Industrial Boiler Market is anticipated to exceed annual installation of 100 thousand units by 2024
Rapid industrialization reinforced by continued legislative support will propel the China industrial boilers market. The country as part of its 13th Five Year Plan (2016-2020), has set strategic pathway for the robust development and expansion of its industrial sector which in turn will augment the business landscape. Expanding population size along with rising per capita income will further complement the industry outlook. In 2017, the United Nations projected the population of China to surpass 1.4 billion by 2022.
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Sizeable investments toward the replacement of traditional heating systems aimed at environmental compliance will drive the U.S. industrial boilers market growth. The industry expansion is further attributed to the significant growth in the country’s refining capacity to cater to the resurgent fuel demand. According to EIA, in 2017, the operable atmospheric crude distillation capacity increased by over 1.6% when compared to 2016 in the U.S.
>250 MMBtu/hr industrial boiler market is anticipated to expand over 4% by 2024. These boilers find predominant applications across various industries including pulp and paper, refinery, chemical and others. The robust growth across the pulp and paper industry on account of rising demand for e-commerce packaging and robust retail activities, will further strengthen the product deployment.
Water tube industrial boilers market is predicted to grow over 3% by 2024. Flexibility in design, rapid circulation, efficient performance and thin tubes are some of the key features that will drive the product demand. Growing need for steam generating solutions from medium and large-scale industries will further facilitate the product penetration.
Natural gas fired industrial boilers market.is set to expand over 4% by 2024. Regulatory directives promoting use of clean fuel along with stringent emission norms will drive the demand for these heating systems. For instance, the European Union issued guidelines under the Directive 92/42/EEC pertaining to energy efficiency, energy conservation & emission reduction across key economic sectors.
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Food processing and beverage industry will foster the industrial boiler market growth on account of robust macro-economic indicators and fiscal policies. Escalating demand for processed food along with rising per capita income in major economies will stimulate the industry outlook. For instance, Poland retail sale of packaged food, in 2016 was valued over USD 17 billion and is anticipated to surpass USD 20 billion by 2021.
Key industry participants across the industrial boiler market include General Electric, Clayton, Forbes Marshall, Bharat Heavy Electricals Thermax, Fulton, Cochran, Mitsubishi Heavy Industries, Cleaver-Brooks, Rentech, Hurst Boiler, Saudi Boilers, Babcock and Wilcox, Foster Wheeler, Doosan Corporation and Parker Boilers.
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