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Industrial Boilers Market Growth Analysis 2019 by Leading Players Bosch, IHI Corporation, Fulton, Thermax, GE, BHEL, Siemens, Cochran, Forbes Marshall, Rentech, Hurst Boiler, Babcock and Wilcox
Industrial Boilers Market
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.
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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.
175-250 MMBtu/hr boiler market is anticipated to expand over 5% by 2024. Increasing applications of the steam generating units across industrial sector along with ongoing investments for the expansion of petrochemical industries and oil refineries will positively impact the business landscape. In 2018, Total & Saudi Aramco signed an MOU worth over USD 5 billion to build a petrochemical complex in Saudi Arabia.
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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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Bosch Thermotechnology
2. Cleaver-Brooks
3. IHI
4. Clayton
5. Fulton
6. Thermax
7. General Electric
8. Bharat Heavy Electricals
9. Siemens
10. Cochran
11. Forbes Marshall
12. Rentech
13. Mitsubishi Hitachi Power Systems
14. AMEC Foster Wheeler
15. Hurst Boiler
16. Doosan
17. Babcock and Wilcox
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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.
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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