Industrial Boiler Market to Hit $12 Billion by 2026, Says Global Market Insights, Inc.
Industrial Boilers Market value is anticipated to register more than 4% CAGR up to 2026, supported by rapid industrialization across emerging economies.
SELBYVILLE, Del., February 5, 2020 (Newswire.com) - Global Industrial Boiler Market revenue is to cross USD 12 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Surging investment toward the expansion of manufacturing facilities along with growing industrialization will positively influence product deployment over the forecast period.
High energy efficiency, availability in wide range of capacities and ease of installation are some of the major underlying features which will drive the global industrial boiler industry size. A rapid surge in the industrial establishments along with escalating demand for refined petrochemical products will encourage product adoption over available counterparts. Favorable regulatory initiatives to curtail the coal consumption across the industries will further create new opportunities for manufacturers of the energy-conservation system.
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Growing demand for high-value refined products on account of rising consumer spending on petrochemical products will fuel the installation of industrial boilers across the refining sector. The ability to generate steam for powering turbines, pumps and heating of facilities & processes are some of the key advantages which will influence the product installation. Moreover, increasing government spending to modernize the refineries in order to increase the capacity will stimulate the business outlook.
Some major findings of the global industrial boiler market report include:
- The demand for these boilers is surging across the industrial sector due to their high capacity and longer operating life.
- Increasing investments across the industries including chemical, food & beverage, and paper & pulp are anticipated to drive the industry growth.
- Major players operating across the industrial boiler industry are Babcock and Wilcox Enterprises, Bharat Heavy Electricals Limited, Fulton Boiler Works, Hurst Boiler and Welding Co, IHI Corporation, Cochran Ltd amongst other.
- Positive outlook toward the expansion petrochemical and refining industry along with the rising demand for energy efficient system will accelerate the product trends.
Rising industrial investment coupled with growing demand for energy-efficient heating products will propel the water tube industrial boiler market size. Longer lifespans with the presence of prominent safety features are some of the vital factors raising their adoption across the industrial applications. In addition, the adoption of upgraded boiler technology in line with the promotion of new industrial establishments will drive the demand for these products across the globe.
Browse key industry insights spread across 1360 pages with 2458 market data tables & 74 figures & charts from the report, "Industrial Boiler Market Outlook By Application (Food Processing, Pulp & Paper, Chemical, Refinery, Primary Metal, Others), By Products (Fire-tube, Water-tube), By Capacity < 10 MMBtu/hr, 10 - 25 MMBtu/hr, 25 - 50 MMBtu/hr, 50 - 75 MMBtu/hr, 75 - 100 MMBtu/hr, 100 - 175 MMBtu/hr, 175 - 250 MMBtu/hr, > 250 MMBtu/hr), By Technology (Condensing, Non-condensing), By Fuel (Natural Gas, Oil, Coal, Others) Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-boilers-market
The ability to achieve high operating temperatures coupled with lower initial cost are some of the main advantages will favor the non-condensing industrial boiler demand. In addition, stringent environmental regulations coupled with increasing fuel prices and high maintenance costs will stimulate the replacement of conventional heating units with energy-efficient systems including industrial boilers.
The ongoing expansion of existing refineries along with escalating demand for primary metal will accelerate the demand for 175 - 250 MMBtu/hr capacity industrial boilers. Furthermore, the expanding pulp & paper industry across the globe will boost the demand for these steam generating units. For instance, according to the UNIDO, the investment of paper and paper industry in China has increased from USD 22,518 million in 2005 to USD 96,334 million in 2017.
The North American industrial boiler market is anticipated to witness growth of over 3% up to 2026. The increasing regulatory efforts to minimize carbon footprints have substantially expanded the funding toward the deployment of sustainable technologies. Furthermore, the presence of large steam intensive industries across the region coupled with a positive business outlook toward the petrochemical and food processing industries will foster product demand.
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Browse Related Reports:
Global Boiler Market By Products (Fire-tube, Water-tube), Fuel (Natural Gas, Oil, Coal), Capacity (<10 MMBtu/hr {Residential, Commercial, Industrial, Utility}, 10-50 MMBtu/hr {Residential, Commercial, Industrial, Utility}, 50-100 MMBtu/hr {Residential, Commercial, Industrial, Utility}, 100-250 MMBtu/hr {Residential, Commercial, Industrial, Utility}, >250 MMBtu/hr {Residential, Commercial, Industrial, Utility}, Application (Residential, Commercial Offices, Healthcare Facilities, Institutions, Lodgings, Retail), Industrial (Food, Paper, Chemical, Refinery, Primary Metals), Utility), Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast 2018 - 2024
https://www.gminsights.com/industry-analysis/boiler-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
