Industrial Boilers Market Insights
The global industrial boilers market is expected to grow at a significant CAGR during the forecast period. This growth can be attributed to rising demand from food industries across the world. Along with this, growing awareness about a reduction of dependence on fossil fuels and promotion of clean energy coupled with the rising trend of natural gas-fired boilers are some factors expected to generate market opportunities for industrial boilers.
Moreover, increasing demand for compact designs and lean operations are also anticipated to stimulate overall growth. Growing inclination towards natural gas based high-performance boilers is also likely to augment market growth.
However, the high installation cost of the product is likely to negatively affect the profitability of the industrial boilers industry.
Industrial Boilers Market: Fuel Type Insights
The industrial boilers market is segmented on the basis of fuel type into Natural Gas & Biomass, Oil, and Coal among others. The market for natural gas & biomass segment is anticipated to register a significant growth rate over the forecast period on account of rising application by end-use industries such as metals & mining, chemical, and food among others. Moreover, the gradual shift towards natural gas from coal as a primary fuel owing to its properties is also expected to foster growth during the forecast period.
Industrial Boilers Market: Type Insights
On the basis of the temperature range, the industry is segmented into Fire-tube and Water-tube. The fire tube segment is likely to lead the overall market by registering a significant CAGR over the forecast period. The segmental growth can be attributed to factors such as efficient operation, compact design, operational suitability and simple installation. The water tube segment is also expected to grow significantly due to its ability to achieve high temperature and steam pressure, increasing its applications in heavy industries.
Industrial Boilers Market: Boiler Horsepower Insights
By boiler horsepower the industry can be segregated into 10–150 BHP, 151 -300 BHP and 301–600 BHP. Out of these, 10–150 BHP segment is anticipated to record the highest growth over the forecast period. 10–150 BHP boilers are extensively used across chemical and food industries. The growth is further expected to grow owing to the development of the food & beverages industries all over the world.
Industrial Boilers Market: End User Insights
The product finds its application in chemical, food, metals & mining and refineries among others. The food segment is anticipated to dominate the industry over the forecast period. This growth can be attributed to consumer inclination towards processed food, fast growing food & beverage industry and expansion of food processing units. Demand for petrochemicals, plastic resins and organics is likely to generate market opportunities for industrial boilers.
Industrial Boilers Market: Regional Insights
The Asia Pacific has occupied the largest share of this market for the past few years. This can be attributed to growing food & beverage, chemicals and mining industries in this region. Demand is expected to rise from countries such as China and India owing to increasing investment by key players in the region. Industrial boilers are used extensively in chemical, refining & mining, and food industry. The U.S. industrial boiler market is also expected to demonstrate steady growth during the forecast period.
Industrial Boilers Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase industrial boilers over the coming years. Some leading consumers of industrial boilers are BASF, Nestlé, JBS Glencore, Rio Tinto, Cargill, Sinopec, DuPont, and ExxonMobil among others.
Industrial Boilers Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Industrial Boilers Market Share & Competitor Analysis
Some of the players operating in the global industrial boilers market include Thermax, Babcock & Wilcox, Dongfang, General Electric, Bharat Heavy Electricals Limited, Harbin Electric Group, IHI Corporation, Siemens, Mitsubishi Hitachi Power Systems and AC Boilers among others.
In June 2018, EnviroStar, Inc. a distributor of industrial, commercial and industrial boilers announced acquiring all the assets and certain liabilities of Houston, Texas based Scott Equipment, Inc. for $13.0 million. The addition of Scott Equipment to EVI's existing Dallas operations is anticipated to result in over $50 million of revenues.
In June 2018, Sumitomo SHI FW announced delivery of their project: CFB boiler technology at the Estonia based Enefit's Narva Power Plant. The technology is projected to increase the oil shale retort gas combustion in circulating fluidized-bed (CFB) boiler. Thus, Enefit would be capable of burning the entire volume of shale oil gas in the modified boiler plant thereby improving efficiency and environmental conditions.
The report segments the Industrial Boilers Market on the basis of:
By Fuel Type
· Natural Gas & Biomass
· Oil, Coal
· Others
By Type
· Fire-tube
· Water-tube
By Boiler Horsepower
· 10–150 BHP
· 151 -300 BHP
· 301–600 BHP
By End User
· Chemical
· Food
· Metals & Mining
· Refineries
· Others
By Region:
· North America
· Europe
· Asia Pacific
· Central & South America
· Middle East & Africa
Please visit: https://www.globalmarketestimates.com/industrial-boilers-market/
Check our annual research partnership service at: https://www.globalmarketestimates.com/annual-research-partnership-services/