Oil Fired Boilers Market to Witness Astonishing Growth by 2028 | Thermax, Forbes Marshall, Alfa Laval, among others

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global oil fired boilers market.

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According to the report, the high growth of the chemical industry in the emerging regions is expected to drive the demand for oil fired boilers market during the forecast period. Some of the major end-use industries in oil fired boilers market have been witnessing strong growth in the emerging region such as Asia Pacific and the Middle East.

Oil fired boilers are boilers in which heat is generated by ignition of oil. It consists of an oil tank, spark ignition tank, motor, tubes, heat chamber, and other small components. They are popular for industrial use, and for residential use in areas where there is a shortage of electricity or abundance of oil. Oil fired boilers are mostly used in regions such as North America and the Middle East.

The integration of ecologically clean ethanol and biodiesel with conventional fuel has provided effective and efficient oil heating units.

Segmentation for better understanding of this market and its growth prospects:

Residential Oil fired boilers are mostly used in North America and Europe, especially in cold regions for space heating, laundry and defrosting.
Commercial applications of these boilers include warehouses, offices, educational institutions, retail stores, and healthcare facilities.

Industrial Oil fired boilers are mostly used in chemical plants, petroleum refineries, paper, and pulp plants and food processing units.

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Key Factors Impacting Market Growth:

o Low oil prices, rising electricity tariffs, and ease of installation of oil-fired boilers
o Rise in steam demand by industries such as chemical, pulp & paper, etc.
o Easy operation, ability to work under extreme climatic conditions, and low maintenance costs of oil-fired boilers

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

Major regions for oil fired boilers market are estimated to North America, Western Europe, and Asia Pacific. North America and Western Europe have been traditional markets for oil fired boilers owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions.

Major industries in these regions are estimated to be chemical, metal & mining, oil & gas, food, and others. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for oil fired boilers market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others.

The Asia Pacific and Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest-growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these industries, chemical, metal & mining, oil & gas, food and others are estimated to register a high demand for oil fired boilers market during the forecast period. On the other hand, the Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of oil fired boilers market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for oil fired boilers market during the forecast period. Rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

With an emphasis on both organic and inorganic growth strategies there have been several primary developments done by major companies like, Babcock & Wilcox, Thermax, Forbes Marshall, Alfa Laval, Foster Wheeler, Fulton, Groupe Atlantic Dongfang, Clayton, Weil-Mclain, Andritz, Bradford White, and A.O. Smith.

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Market Segmentation:

By Consumer:
o Industrial
o Commercial
o Residential

By Boiler Type:
o Regular
o Combi
o System

By Flow:
o Water-Tube
o Fire-Tube

By End-Use Industry:
o Chemical
o Metal & Mining
o Oil & Gas
o Food
o Others

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

o Western Europe:
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

o Rest of the World
o By Region (South America, Africa)
o By Consumer
o By Boiler Type
o By Flow
o By End-Use Industry

Reasons To Buy This Report:

o Market size estimation of the global oil fired boilers market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

o By Segment
o By Sub-segment
o By Region/Country

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This release was published on openPR.