Global Industrial Boilers Market Size showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.40% during the forecast period, i.e. 2017-2025.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Industrial boilers are closed vessels that utilize a fuel source or electricity to heat water or produce steam for application such as industrial heating and humidification. The fundamental concept of a boiler includes a heat source and a heat exchanger or heat transfer medium which enables water to be heated above its boiling point. The type of heat source and the method of heat exchange are what basically define different types of boilers. There are different types of industrial boilers available. Boiler is classified on the basis of three aspects function, technology, and heat source.

Market Dynamics

Industrial Boilers Market was valued USD 12,900 million in the year 2017, and growing at a rate of 5.40% during the forecast period.  Factors such as increasing demand for industrial boilers from the food & beverage industry is one of the significant factor anticipated to drive the industrial boilers market during the forecast period. However, high cost of boiler installation is the factor hampering the market growth during the analysis period.

In order to stay competitive, companies operating in the global industrial boilers market have adopted numerous strategies such as product launch, business expansion to strengthen their market shares and reinforce their geographical presence, globally. For instance, English Boiler LLC., has delivered industrial boilers of the water tube type to a beverage manufacturer located in Midwest. This designed industrial boiler is a part of the company’s business expansion, which basically aims to produce beverages for the purpose of export.

Segment Analysis   

On the basis of type, the market is bifurcated into fire-tube, and water-tube. The fire-tube segment is anticipated to dominate the market and projected to grow at a considerable rate than the water-tube segment owing to its compact design and efficient operation of fire-tube boilers.

On the basis of fuel type, the market is bifurcated into natural gas & biomass, oil, and coal. The natural gas & biomass has dominated the market as compared to oil and coal. Chemical, metals & mining, and food industries are shifting towards adopting natural gas as their primary fuel. Natural gas is moderately capturing the industrial boilers market as primary fuel and is amongst the first choices to replace coal in developed countries. This replacement has already been executed and is also anticipated to be a success because natural gas is abundant in nature and cost effective as compared to other fuels.

On the basis of horsepower, the market is bifurcated into 10-150 BHP, 151-300 BHP, and 301-600 BHP. End-use industries, such as chemical and food, prefer boilers in the 10-150 BHP range. Increasing demand from the food & beverages industry, which is a significant market for 10-150 BHP boilers, is anticipated to propel this segment of the industrial boilers market.

Regional Analysis

On the basis of region the industrial boilers market is analyzed across North America, Europe, Asia-Pacific (APAC), and LAMEA.  Asia Pacific region is expected to grow at the considerable growth rate during projected period. Asia Pacific is one of the leading markets for industrial boilers mainly because of rising industrialization of emerging economies, such as India, China and ASEAN countries. The region is a major consumer of boilers, which are significantly used in the food, chemical, refining, and metals & mining industries.

Global Industrial Boilers Market Size, Share Analysis By Region 2017

Industrial Boilers Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Industrial Boilers Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in industrial boilers market are included as primary sources of the supply side.

After performing comprehensive engineering of industrial boilers market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Key Players

Key players of global industrial boilers market are AMEC Foster Wheeler PLC, Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation Ltd., General Electric Company, Siemens AG, AC Boilers S.P.A, Bharat Heavy Electricals Limited, Harbin Electric Corporation, IHI Corporation, Mitsubishi Hitachi Power Systems, Ltd., and Thermax Limited.

The other players in the value chain include Ab&Co Group, Alfa Laval Aalborg, Andritz Energy & Environment, Suzhou Hailu Heavy Industry, Robey-Wellman Boilers & Furnaces Ltd., Vapor Power International, LLC., Superior Boiler Works Inc., Bryan Steam, LLC, Hurst Boiler & Welding Company, Inc., and Taiyuan Boiler Group.

Global Industrial Boilers Market Study Report Offer You!

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