Press release
US Industrial Boiler Market size to reach $600mn by 2024
U.S. Industrial Boiler Market size, by capacity, 2013 -2024 (USD Million)
Positive indicators towards food processing industries coupled with increasing demand for specialty chemicals will drive the U.S. industrial boiler market size. Increasing demand for refined petroleum products including vehicle fuel, lubricants and feedstock for chemical industries will further compliment the growth.
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Growing demand of paper from labelling and packaging industries coupled with expansion of existing plants will drive the U.S. industrial boiler market share.
Government initiatives to reduce greenhouse gas emission will boost the demand for energy efficient industrial boilers in the near term. Environmental Protection Agency (EPA) has introduced various norms such as national emission standard for air pollutants released during the furnace operation. National Emission Standard (NESHAP), has been designed by federal EPA under clean air act for large furnace to protect environment from adverse effect of air pollutant.
Shift from fossil fuel to natural gas will urge the demand for replacement of installed boilers. Abundant supply, low cost and low rate of toxic emission are some of the benefits of from natural gas over conventional fuel.
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U.S. Industrial boiler market share from 10-50 MMBtu/hr capacity was over 28% of the total revenue for 2015. Increasing demand from primary metal and chemical sector may propel the industry growth in near future. The average capacity size for food processing plants in the region is 20 MMBtu/hr. High initial investment and operational cost may hamper the growth during forecast period.
Key insights from the report include:
• Positive indicators towards paper industry in Alabama may favor the regional growth in future. Indiana industrial boiler market, was USD 8.91 million in 2015, growing industrialization in the region may compliment the business growth.
• Mississippi 10-50 MMBtu/hr capacity is forecast to reach over USD 2 million by 2024. Increasing demand for petroleum products will drive industry growth.
• Refining applications is projected to reach over USD 90 million by 2024. Increasing demand for lubricants, petrol, diesel, LNG and other petroleum products will drive the U.S. industrial boiler market.
• Capacity of < 10 MMBtu/hr was USD 3.05 million in 2015. Expansion of chemical and food industries to meet the increasing demand will positively drive the industry growth.
• Pennsylvania paper industry application was USD 0.92 million in 2015, growing at a CAGR of 3.48% from 2016 to 2024.
• Texas is set to observe over 3% growth, rising penetration of refineries and chemical industries will drive the industrial boiler market.
• Major participants share is highly fragmented and competitive. Major companies include Fulton Inc., Columbia Inc., Unilux LLC., York-Shipley, Vapor Power LLC., Bryan LLC., Superior Inc., Cleaver-Brooks Inc. Acme Engineering., Sioux Corporation, Parker, Williams & Davis Inc., Le Groupe Inc., M. Lattner, Hurst Inc., and Clayton Industries, Inc.
U.S. Industrial Boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and capacity in MMBtu/hr from 2013 to 2024, for the following segments:
U.S. Industrial Boiler Market by Capacity
o < 10 MMBtu/hr
o 10-50 MMBtu/hr
o 50-100 MMBtu/hr
o 100-250 MMBtu/hr
o >250 MMBtu/hr
U.S. Industrial Boiler Market by Application
o Food
o Paper
o Chemical
o Refining
o Metals
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