Industrial Boilers Market Exhibit 5.80% CAGR during 2019 to 2023, according to Global Industrial Boilers Market Report 2019, published by Market Research Future. Report comprises depth analysis of Industrial Boilers Market by type, boiler horsepower, end-user, key players and region. Wide Scope of Application to Fuel Global Industrial Boilers Market
Some distinguished leaders in the global Industrial Boilers market include Babcock & Wilcox Co. (U.S.), Thermax Ltd. (India), General Electric Company (US), Doosan Heavy Industries & Construction (South Korea), Siemens (Germany), IHI Corporation (Japan), Dongfang Electric Corporation Ltd. (China), Bharat Heavy Electricals Ltd.(India), Harbin Power Equipment Co. Ltd.(China), Mitsubishi Heavy Industries Ltd.(Japan), Hitachi Ltd.(Japan).
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Global Industrial Boilers Market Overview
An Industrial Boilers refers to a closed vessel which is used to heat fluid. It uses fuel as a source of electricity for heating water or for the generation of steam for industrial heating and humidification purposes. Hot water boilers are used for heating water to heat systems while steam boilers are used for the generation of steam for the use in different applications like agricultural soil steaming, power generation, among others. Water tube and fire tube are the two types of Industrial Boilerss that are primarily used in various industrial applications. Water tube boilers have high temperature output, as compared to fire tube boilers.
The Industrial Boilers market is projected to rise at 5.80% CAGR over the forecast period. Rapid industrialization all over the globe and the advent of mass production are primary drivers of the Industrial Boilers market. Increased investments towards the expansion of manufacturing facilities are also expected to drive the global Industrial Boilers market. A positive outlook towards the food processing industry has set the global Industrial Boilers market on an impressive growth trajectory. Robust growth in industrial applications in various developing economies has provided positive growth impetus to the global Industrial Boilers market over the forecast period.
Growing demand for energy efficient systems are bound to complement business growth over the review period. Moreover, growth in the food processing industry is also boosting market growth in the forthcoming years. Apart from that, the Indian government has started providing incentives for promoting investments in the food processing industry which is likely to drive the market exponentially. However, there are some factors which are hindering market growth to a certain extent. High cost of installation is expected to cause hesitancy in the adoption of Industrial Boilers market. Further, factors such as increasing use of natural gas and higher demand for lean operations are anticipated to create lucrative business opportunities for market vendors.
Market Segmentation:
The global Industrial Boilers market is studied for various segments to provide a detailed outlook in the market landscape. Such segmentation has been conducted by, fuel type, boiler horsepower, end-user, and region. By type, the global Industrial Boilers market is segmented into water-tube and fire-tube. The fire tube segment is expected to dictate the global Industrial Boilers market as it can be used for an array of industrial applications which provide higher efficiency, easier operation, and compact design.
Based on fuel type, the global Industrial Boilers market is segmented into natural gas and biomass, oil, and coal. Natural gas and biomass segment is expected to lead the global Industrial Boilers market over the assessment period. This can be owed to the ascending demand from various end-user industry verticals such as metals & mining, chemical, and food processing, as these industries have started adopting natural gas as their primary source of fuel.
Based on boiler horsepower, the global Industrial Boilers market is segmented into 10-150 HP, 151-300 HP, and 301-600 HP. The global Industrial Boilers market is dictated by the 10-150 HP segment owing to the maximum demand observed from the chemical and food use boilers in the 10-150 BHP range.
Detailed Regional Analysis:
The global Industrial Boilers market is segmented into the regions of Asia Pacific, North America, Europe, the Middle East, Africa, and South America. North America is likely to witness market domination owing to the rising demand for energy, coupled with increasing replacement of conventional boilers, specifically in the US. Asia Pacific is likely to upscale at the fastest rate over the forecast period owing to the increasing population and increasing demand for power generation.
Key Table of Content:
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 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
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…
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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 Middle East & Africa Industrial Boilers Market: By Country, 2018-2023
Table 6 Middle East & Africa Industrial Boilers Market: By Country, 2018-2023
Table 7 South America Industrial Boilers Market: By Country, 2018-2023
Continued…
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