Global Industrial Boiler Market to generate considerable revenue from food processing application, water-tube based product to witness significant gain over 2017-2024

Global industrial boiler market has been garnering popularity across myriad end-use sectors including chemicals, food processing, and hospitals, subject to the fact that they are increasingly adopting energy efficient heating systems. It has been observed that of late, major companies in the food processing sector have been adopting green energy production systems to reduce carbon dioxide emissions, as fossil fuel based heating systems lead to a hazardous impact on the environment. The growing implementation of boilers for various industrial applications is likely to influence global industrial boiler industry share. This evident from the forecast estimates – as per a market research study, global industrial boiler market held a revenue of USD 4 billion in 2016 and is poised to achieve commendable heights of growth ahead.

Apart from food processing industry, paper manufacturing companies have also been undertaking initiatives to reduce carbon emissions in the environment. A recent news snippet elucidates how Smurfit Kappa – an Austria based giant in the paper-based packaging business, invested around EUR 134 million in the refurbishment and installation of a new boiler and steam turbine system to reduce emissions. The escalating rework and renovation activities across various application sectors such as chemical, paper and pulp, food processing, and refineries for the installation of advanced boilers are thus, likely to stimulate global industrial boiler market over the years ahead.

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Regional governmental bodies have been implementing favorable initiative to promote green energy adoption by deploying strict rules and regulations with regards to boiler installation and the replacement of existing units with new energy efficient heating systems. In December 2016, the EU approved a new directive [(EU) 2015/2193] to reduce transboundary pollution as well as background concentration across Europe. To comply with regulatory norms, various industry players are installing natural gas based boilers on a large scale. Perhaps on account of the same, natural gas based industrial boiler market covered 25% of the overall share in 2016.

Another instance in recent years that demonstrates the developments in global industrial boiler market is the 2015 United States Climate Change Conference held in Paris regarding greenhouse gas emissions and the rise in global temperatures. After this conference, it has been observed that many companies have undertaken appreciable initiations to minimize the carbon content in the environment, which has favorably stimulated global industrial boiler industry size.

Major corporations in global industrial boiler market headquartered in North America have been heavily investing in the renovation and upgradation of existing heating systems. In 2016, the U.S covered more than 80% of North America industrial boiler market share. Consumers across the U.S. are shifting their focus toward the usage of natural gas based products instead of fossil fuel pertaining to the cost effectiveness. Furthermore, favorable initiation taken by U.S. government to control carbon footprints is slated to boost industrial boiler industry share over the years ahead.

Speaking of the competitive landscape, it is noteworthy to mention that prominent players in global industrial boiler industry are General Electric, Bharat Heavy Electricals, Cleaver-Brooks, Mitsubishi Heavy Industries, Forbes Marshall, Thermax, Cochran, Fulton, Clayton, Doosan Corporation, Parker Boilers, Hurst Boiler and Welding, Saudi Boilers, and Babcock & Wilcox.

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In a recent development, in Bahrain, GE deployed mobile water technology to provide high purity boiler feed water to be used in refineries. Bapco (Bahrain Petroleum Company) is using this technology for boiler feed water at its Awali refinery. The increasing demand for such mobile desalination units from various refineries across Bahrain will influence global industrial boiler market size positively.

Most of the giants in global industrial boiler market are focusing on research and development activities to design high efficiency hot water systems for various sectors. Also, it has been observed that they are looking forward to increasing the cost-effectiveness of the product to attract a wider consumer base. The commendable efforts undertaken by various firms is certain to impel global industrial boiler market, projected to surpass a revenue collection of USD 6 billion by the end of 2024.

Report Content

Chapter 1. Methodology and Scope

1.1. Methodology

1.2. Market definitions

1.3. Market estimation & forecast parameters

1.4. Data Sources

1.4.1. Primary

1.4.2. Secondary

1.4.2.1. Paid Sources

1.4.2.2. Public Sources

Chapter 2. Executive Summary

2.1. Industrial boiler market 3600 synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Capacity trends

2.1.3. Product trends

2.1.4. Technology trends

2.1.5. Fuel trends

2.1.6. Application trends

2.1.7. Regional trends

Chapter 3. Industrial Boiler Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024 (USD Million)

3.3. Industry ecosystem analysis

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