U.S. Industrial Boiler Market size in 2016 was valued over USD 450 million and is predicted to witness gain of over 3% from 2017 to 2024

Growing investments across chemical sector coupled with positive outlook towards food and beverage industry will drive the U.S. industrial boiler market. In 2015, total foreign investment across chemical sector exceeded USD 475 billion accounting for over 38% of total FDI in the country. Increasing refining capacity on account of resurgent fuel demand will positively impact the industry landscape. As of January 2017, crude distillation capacity in the country reached 18.6 b/cd witnessing growth of 1.6% from the previous year.

Ongoing advancement in design and operation along with trends toward replacement of existing heating units will propel the industrial boiler market size. High fuel costs, increase in maintenance expenditure and decreasing performance of traditional units has encouraged investment towards replacement of conventional units with efficient systems.

Condensing industrial boiler market is anticipated to witness gains over 4% by 2024. These systems offer improved efficiency when compared to available alternatives by trapping heat from outgoing flue gases. Government initiatives toward reducing carbon footprint along with investment towards replacement of traditional heating systems will further enhance the product penetration.

Low cost and ease of installation are some of the imperative factors which will drive the non-condensing industrial boiler market growth. Low maintenance cost and its ability to meet fluctuating hot water & steam demand will encourage the product adoption across small and medium scale industries.

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Abundant availability of natural gas along with its low pollution content are some of the underlying parameters which will augment the gas fired industrial boiler market growth. Government efforts to limit emissions across steam intensive industries including chemical, refinery and food processing will further complement the business outlook.

Oil in 2016, accounted for 30% of industrial boiler market share. Low fuel prices and operating costs are some of the key parameters which makes it preferable over other available counterparts. However, long term price volatility and safety concerns may inhibit the business growth over the forecast timeline.

Food applications segment in 2016, accounted for over 10% of the industrial boiler market installed capacity. Changing consumer lifestyle coupled with shifting trends toward processed food has resulted in increased investment towards new food processing units which will boost the product demand.
Ongoing investment towards capacity expansion of chemical plants in order to meet resurgent demand will foster product demand. Growing demand for specialty products including dyes and cosmetics will further enhance the business landscape.

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2.5-10 MMBtu/hr industrial boiler market is projected to grow on account of its deployment across medium and small industrial plants for hot water and steam production. Positive outlook towards metal manufacturing along with shift towards deployment of multiple boiler systems will further stimulate the product demand.

Increasing demand for petroleum distillates along with growing consumption of refined petroleum products will augment the 100-250 MMBtu/hr industrial boiler market. The average boiler capacity for refineries is over 125 MMBtu/hr where it is primarily deployed for converting crude oil into lubricants, vehicle fuel and feedstock for various industries.

10-50 MMBtu/hr in 2016, accounted for over 25% of industrial boiler market revenue. Ongoing replacement of traditional steam generating systems along with its wide-ranging applications across industries including food, metals and chemical will boost the product demand.

Browse Related Report
Global Residential Boiler Market Size By Technology (Condensing, Non-Condensing), By Product (Fire-tube, Water-tube), By Fuel (Natural Gas, Oil, Coal) Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Philippines, Japan, South Korea, Australia, Indonesia, Saudi Arabia, Iran, UAE, Nigeria, South Africa, Argentina, Chile, Brazil), Competitive Market Analysis & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/residential-boiler-market

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