Press release
Industrial Boiler Market to Witness High Growth in near future: Leading Key Players like Electric, Thermax, Bosch Thermotechnology, Mitsubishi Hitachi Power Systems, Hurst Boiler, Cleaver-Brooks, Siemens, Clayton, IHI, Forbes Marshall, Fulton, Cochran & M
Gas fired boiler market is predicted to witness growth owing to robust gas pipeline infrastructure. Natural gas is one of the prominent cleaner fuels consumed across the industrial sector to meet escalating energy demand. Furthermore, declining fuel prices have favored investment toward the expansion of existing gas supply networks which in turn will drive the product adoption.
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Eminent industry players in the global industrial boiler market include General Electric, Thermax, Bosch Thermotechnology, Mitsubishi Hitachi Power Systems, Hurst Boiler, Cleaver-Brooks, Siemens, Clayton, IHI, Forbes Marshall, Fulton, Cochran, Rentech, AMEC Foster Wheeler, Bharat Heavy Electricals, Babcock and Wilcox and Doosan amongst others.
Global Industrial Boiler Market is predicted to exceed USD 12 Billion by 2024. Escalating demand for energy efficient heating units on account of rising concerns over greenhouse gas emissions will drive industry growth. Rising investments toward the modernization and expansion of existing industrial facilities coupled with industrialization across emerging economies will fuel the product adoption. For instance, the U.S. based Lord Corporation in 2018, announced investment worth over USD 80 million to upgrade and expand its manufacturing facility by 2023.
Europe industrial boiler market is predicted to grow over 3% by 2024. Implementation of regulatory polices relating to industrial pollution coupled with stringent emission norms across the region will fuel the demand for replacement of conventional boilers. In 2015, the European Union introduced the Eco-design Directive with an aim to minimize the negative environmental impact of greenhouse gas emission with respect to the solid fuel boilers.
China industrial boiler market was valued over USD 2 billion in 2017.
Government focus for advancement of its manufacturing facilities along with indigenous innovations for industrial development will drive the business landscape. For instance, according to the World Bank, in 2017, manufacturing value added was 22.3 % more as compared to 2013.
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Condensing industrial boiler market is predicted to grow over 4% by 2024. Low environmental impact, reduced heating costs and high efficiency are some of the key features which make the product adoption preferable over other alternatives. Government policies to reduce carbon emissions in conjunction with rising investment for the replacement of existing heating units will further stimulate the business growth.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Industrial Boiler Industry Insights
Chapter 4 Industrial Boiler Market, By Capacity
Chapter 5 Industrial Boiler Market, By Product
Chapter 6 Industrial Boiler Market, By Technology
Chapter 7 Industrial Boiler Market, By Fuel
Chapter 8 Industrial Boiler Market, By Application
Chapter 9 Industrial Boiler Market, By Region
Chapter 10 Company Profiles
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