Industrial Boiler Market is touching new levels with Emerging Trends and New Technologies| leading players: Amec Foster Wheeler, Ferroli S.p.A., Hoval, Fondital S.p.A., Groupe Atlantic, Babcock & Wilcox

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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Higher efficiency and low operating cost in conjunction with supportive federal regulations are some of the paramount factors that will drive the condensing industrial boiler market. These units utilize the thermal energy from exhaust gas by recovering the latent heat by condensing the outgoing water vapors. However, higher upfront cost compared to non-condensing boiler units and inability to work in extremely low temperature conditions may hinder the industry growth.

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.

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.

California industrial boiler market is anticipated to surpass 19,000 MMBtu/hr by 2024. Food processing, metals, equipment manufacturing, and chemicals are some of the key industries operating across the region which will propel the product deployment. In 2017, manufacturing sector accounted for over 11% of the state’s GDP with a value of over USD 261 billion.

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.

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Gas fired industrial boiler market will witness robust growth on account of the product’s high energy efficiency, lower maintenance cost along with easy accessibility of fuel. Additionally, sturdy replacement of conventional heating systems driven by concerns over high fuel prices and carbon emissions along with shifting trends toward clean fuel will provide an impetus to the industry growth. As per EIA, industries consumed over 7,700 billion cubic feet of natural gas in 2016 growing over 2% from the former year.

Prominent industry participants of Industrial Boiler Market:
• Amec Foster Wheeler
• Hoval
• Viessmann
• Fondital S.p.A.
• Ferroli S.p.A.
• Groupe Atlantic
• Babcock & Wilcox

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