Industrial Boiler Market Growing Demand Rapidly 2024 With Major Players Babcock and Wilcox Enterprises, Inc., Bharat Heavy Electricals Limited, Fulton Boiler Works, Inc
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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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.
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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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.
Partial Table of Contents (ToC) of the report:
Chapter 4. Industrial Boiler Market, By Product
4.1. Market share by product, 2017 & 2024
126.96.36.199. Global Market by fire-tube, 2013 – 2024
188.8.131.52. Global Market by fire-tube, by region, 2013 – 2024
184.108.40.206. Global Market by water-tube, 2013 – 2024
220.127.116.11. Global Market by water-tube, by region, 2013 – 2024
Chapter 5. Market, By Capacity
5.1. Market share by capacity, 2017 & 2024
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