Global Boiler Market – Global Industry Analysis and Forecast (2018-2026)
Global Boiler Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at CAGR of XX % in the forecast period. Growth in demand for energy in combination with the pervasive investment across the industrial sector will stimulate the global boiler market size. Emerging economies such as Africa and Asia-Pacific have introduced various progressive programs toward the installation and upgradation of the existing boilers, which in turn will positively impact on the industry growth. For instance, in 2017, PT United, Kansai Electric Power, and Sumitomo Corporation announced a collaborated investment of over USD 4.4 billion for the upgradation of Tanjung Jati thermal power plant in Indonesia.
Introduction of building energy code along with increased spending toward expansion of urban centers will drive the boiler market growth. North America among other regions, held the highest market share of around 36% in 2016 due to ongoing replacement of existing heating systems with modern heating solutions. It is done to comply with the rigorous legislative emission standards that n turn will further augment the product demand. In U.S., the Clean Air Act, Environmental Protection Agency has set the emission standards for different air pollutants including carbon monoxide, lead, nitrogen oxides, sulphur dioxide, and particulate matter. This act also expected to drive the market through the forecast period.
Growing concerns over carbon emissions along with increasing demand for energy efficient space heating solution will again have a positive impact on the boiler market growth. Governments all over the world have introduced various regulations and policies toward the promotion of energy efficient heating solutions. For instance, the Federal Energy Management program has set a minimum efficiency of 95% for gas-fired residential and commercial boilers with a capacity of 0.3 to 2.5 MMBtu/hr.
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Global Boiler Market is majorly segmented by the capacity, product, fuel, application, and region wise. Based on capacity segment <10 MMBtu/hr is expected to dominate the global Boiler Market in 2017. Ongoing infrastructure spending across residential & commercial sector coupled with rising demand for space heating from cold climatic regions will boost the adoption of low capacity heating units.
Under product segment, water-tube boiler held the highest market share driven by the ability to attain higher temperature coupled with high-pressure handling capacity by the employment of superheaters. This makes it a preferable option over the other available counterparts. Quicker response, lesser weight, low radiation loss, and higher operational flexibility will further work on to boost product demand.
Boiler can be also segmented based on fuel where the natural gas segment held highest market share driven by low carbon emission, high-efficiency easy stocking and ample availability of natural gas that makes it a favorable option over its other available counterparts. Government legislative toward the promotion of energy efficient technologies and reducing air pollution coupled with the efforts toward enhancing energy security will further boost the product demand.
Asia-Pacific is expected to have a higher growth rate in the forecast period. The growth rate can be credited to the high demand of China boiler market. In China growing investment across bulk chemical, food processing and metal industries drive the overall boiler market. Rising energy demand in conjunction with growing fuel prices is further set to drive the industry growth.
Key player across the boiler industry are Bharat Heavy Electricals, A.O. Smith, Parker, Cleaver-Brooks, Thermax, Weil-McLain, and Fulton. Major industry participants are focusing on design innovations and expansion of the product line as part of the strategy to meet the regulatory standards and enhance the market presence. Furthermore, boiler manufacturers are also undertaking M&A activities to expand their global footprint.
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Global Boiler Market Scope
Global Boiler Market, By Capacity
• <10 MMBtu/hr • 10-50 MMBtu/hr • 50-100 MMBtu/hr • 100-250 MMBtu/hr • >250 MMBtu/hr)
Global Boiler Market, By Product
• Fire-tube
• Water-tube
Global Boiler Market, By Fuel
• Natural Gas
• Oil
• Coal
Global Boiler Market, By Application
• Commercial
o Offices
o Healthcare Facilities
o Institutions
o Lodgings
o Retail
• Industrial
o Food
o Paper
o Chemical
o Refinery
o Primary Metals
• Utility
By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global Boiler Market:
• Bharat Heavy Electricals
• A.O. Smith
• Parker
• Cleaver-Brooks
• Thermax
• Weil-McLain
• Fulton
• General Electric
• Babcock and Wilcox
• Forbes Marshall
• Burnham
• Hurst Boiler and Welding
• Cochran
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Boiler Market outlook. The report encompasses the Boiler Market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Boiler Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Boiler Market positioning of competitors.
Browse Full Report with Facts and Figures of Boiler Market Report at: https://www.maximizemarketresearch.com/market-report/boiler-market/11574/
MAJOR TOC OF THE REPORT
Chapter One: Boiler Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Boiler Market Competition, by Players
Chapter Four: Global Boiler Market Size by Regions
Chapter Five: North America Boiler Revenue by Countries
Chapter Six: Europe Boiler Revenue by Countries
Chapter Seven: Asia-Pacific Boiler Revenue by Countries
Chapter Eight: South America Boiler Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Boiler by Countries
Chapter Ten: Global Boiler Market Segment by Type
Chapter Eleven: Global Boiler Market Segment by Application
Chapter Twelve: Global Boiler Market Size Forecast (2019-2026)
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