Industrial Boilers Market to rise at 5.80% CAGR and reach remarkable value by 2023, according to Global Industrial Boilers Market 2019 Industry Analysis report published by Market Research Future. Industrial boiler is a closed vessel in which fluid is heated. It uses a fuel source of electricity to heat water or generate steam for industrial heating and humidification purpose. Global Industrial Boilers Industry Report analyzes Market for Industrial Boilers by Type (Fire-Tube, Water-Tube), Fuel Type (Natural Gas & Biomass, Oil, Coal), Boiler Horsepower (10-150 HP, 151-300 HP, and 301-600 HP), End-User (Chemical, Food Processing, Refineries, Metals & Mining), Region with Forecast to 2023.
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Competitive Landscape:
Several companies in the industrial boilers market are getting to inspire the market by making contributions through strategic implementations. These companies are Babcock & Wilcox Co. (U.S.), Thermax Ltd. (India), General Electric Company (US), Doosan Heavy Industries & Construction (South Korea), Siemens (Germany), Dongfang Electric Corporation Ltd. (China), Harbin Power Equipment Co. Ltd. (China), IHI Corporation (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Hitachi Ltd. (Japan), Bharat Heavy Electricals Ltd. (India), and others. MRFR enlisted these companies and made a detailed report that includes latest updates and trends.
Global Industrial Boilers Market Highlights:
The global industrial boiler market is expected to take the advantages of the call from various industries by sideling the conventional industrial boilers. The device is a closed vessel where fluid gets heated and generates steam for heating and humidification. Riding on these features, the global industrial boiler market is expected to gain 5.80% CAGR during the forecast period (2018-2024). Market Research Future (MRFR) claims that the global industrial boiler market could surpass the estimated valuation during the forecast period.
Industrial Boilers Market to Gain from Inclusion of Energy-Efficient Trends. Food Processing Industry Can Change Market Dynamics for Industrial Boilers Market. Expansion in Manufacturing Facilities to Substantiate Growth for Industrial Boilers Market
Factors to influence the global industrial boiler market are increasing industrialization, structural overhauling, and environmental restrictions. The food processing firms are employing this technology to get rid off microbiological threats. Several industries are facing threats from governments owing to the carbon emission level that is why they are looking for new models. Recently, industrial boilers, that run on the natural gas and biomass, are expected to fill in this gap. But high maintenance cost can slacken the pace of the global industrial boiler market growth.
Segmentation:
The global industrial boiler market, as per the study made by MRFR, can be segmented into type, fuel type, boiler horsepower, and end-user.
Based on the type, the industrial boiler market includes water-tube and fire-tube boilers. The fire-tube segment has the market lead as it can be used in a wide range of industrial application, providing higher efficiency, easy operation, and compact design.
Based on the fuel type, the industrial boiler market comprises natural gas & biomass, oil, coal, and others. The natural gas & biomass has the maximum global market coverage as its pervasive use in industries like chemical, metals & mining, and food processing are providing it traction. These segments are adopting natural gas as primary fuel, hence, the traction.
Based on boiler horsepower, the industrial boiler market is segmented into 10-150 HP, 151-300 HP, and 301-600 HP. The 10-150 BHP segment dominates the global market as most of the end-use industries, like chemical and food use boilers has a lot of application in this 10-150 BHP range. Increasing demand from the food & beverage sector is expected to take the segment forward.
Regional Analysis:
Asia Pacific (APAC), North America, Europe, the Middle East, Africa, and South America are the regions that have been studied well in the global industrial market report by MRFR. This effort is to understand the potential of each region to ensure high growth for the region.
North America is gaining mileage in the sector and is dominating the market based on its rising demand for energy and structural changes in industries. Industries are moving towards advanced boilers leaving behind the traditional ones. Several companies are from this region, which is ensuring high growth for the market.
The APAC region is expected to show the highest CAGR during the forecast period. Industrial revamping, in countries like China and India, is expected to ensure high growth for the regional market.
In January 2019, Reedy Industries took over Roger Schweitzer and Sons in a bid to expand their boiler service. Reedy wishes to work on the Roger Schweitzer’s experience regarding installation, maintenance, and replacement of commercial and industrial boiler systems. Reedy hopes to solidify its market position in the coming years.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
LIST OF TABLES:
Table 1 Global Industrial Boilers Market: By Region, 2018-2023
Table 2 North America Industrial Boilers Market: By Country, 2018-2023
Table 3 Europe Industrial Boilers Market: By Country, 2018-2023
Table 4 Asia-Pacific Industrial Boilers Market: By Country, 2018-2023
Table 5 RoW Industrial Boilers Market: By Country, 2018-2023
Continued…
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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