Boiler Control Market Size, Analysis, Forecast to 2029
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The boiler control market is estimated to reach US $ 2.42 billion by 2023 from US $ 1.80 billion in 2018 and is projected to grow at a CAGR of 6.09% between 2018-2023. Increase of investment in digital technology in the power plant of the world, an increase in industrial adoption of the internet of things for real-time decision-making, and saving in order to reduce carbon emissions is growing attention to energy control system, It is driving the growth of the boiler control system market around the world.
However, the high upgrade costs of aging power plants can be a drag on the boiler control market.
Boiler control market is by boiler type (water tube boiler and fire tube boiler), control type (modulation and on / off control), component (hardware and software), end user (industrial and commercial), and It is divided by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.
The modulation segment has the largest share of the boiler control market during the forecast period. By control type, the modulation segment is expected to be the largest segment between 2018-2023. Market drivers include the large-scale implementation of boiler control systems with modulation control in large power plants in the power generation industry, as well as low energy losses.
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These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, and other Asia Pacific); Latin America (Brazil, Mexico, Argentina, and other La).
Ten America); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) are included.
The Asia Pacific region holds the largest share of the boiler control market in 2018, followed by North America and Europe. China and India are expected to be the largest markets for boiler control systems in the region due to the large investment in the power generation and process industries. North America, on the other hand, is the second largest market for boiler control systems, followed by Europe and the Middle East. Increasing investment in aging power plants and increasing attention to energy efficient equipment in the industrial sector could boost the demand for boiler control systems.
About the detailed contents of the survey report
Key Players in the
Market Key players in the boiler control market include Siemens (Germany), ABB (Switzerland), Cleaver-Brooks (US), Yokogawa (Japan), Schneider (France) and Emerson (US). I have. This study includes a detailed competitive analysis of these major companies in the boiler control market, corporate profiles, recent developments, and key market strategies.
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