This report offers an overview of the market trends, drivers, and challenges with respect to the Industrial Boilers Market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America.
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Industrial boilers market is estimated to be $ 10.92 billion in 2016 and is projected to reach $ 17.77 billion by 2026, at a CAGR of 5.0% between 2016 and 2026
The report categorizes the industrial boilers market on the basis of type, boiler horsepower, fuel type, end-use industry, and region. A detailed analysis of leading players, along with key growth strategies adopted by them, is also covered in the report.
Factors such as increasing demand for clean energy sources, increasing number of natural power plants, and government initiatives to promote clean energy and reduce dependency on fossil fuels are key factors expected to boost the growth of the industrial boilers market. However, the high cost of boilers may restrain the growth of the industrial boilers market.
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Major companies profiled in this report include
- Babcock & Wilcox Enterprises, Inc. (U.S.),
- Dongfang Electric Corporation Ltd. (China),
- Siemens AG (Germany),
- General Electric (U.S.),
- AC Boilers S.p.a. (Europe),
- Bharat Heavy Electricals Limited (India),
- Harbin Electric Group (China),
- IHI Corporation (Japan),
- Mitsubishi Hitachi Power Systems, Ltd. (Japan),
- Thermax Limited (India).
Study on Industrial Boilers, has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (10%); Tier 2 (40%) and other (50%) companies were contacted for interviews.
The interviews were conducted on Industrial Boilers with various key people such as C level (45%), Director Level (23%) and other (32%) from various key organizations.
The primary interviews were conducted worldwide covering regions such as Europe (21%), North America (16%), Asia-Pacific (53%), and Middle East & Africa (10%)
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Based on fuel type, the natural gas & biomass segment led the industrial boilers market, as a majority of end-use industries, such as chemical, primary metal, and food use natural gas as their primary fuel. The growth of the segment can also be attributed to the fact that natural gas & biomass boilers are gradually replacing coal-based boilers in developed countries, owing to lower operational cost of using natural gas as compared to other fuels.
The industrial boilers materials market in North America is anticipated to grow at the highest CAGR between 2016 and 2026. North America is one of the leading regions for the industrial boilers; the rising demand for energy and rapid installation of several power plants has led to the increased demand for industrial boilers in the region.
Asia-Pacific is the largest consumer of industrial boiler, which are used in the food, chemical, refining, and primary metal industries. The demand for industrial boilers is increasing in countries, such as Japan, China, India, and Indonesia, among others.
In order to meet the growing demand, top manufacturers from the U.S. and Europe are now focusing on Asia-Pacific to expand their industrial boilers business.
Complete report on Industrial Boilers Market supported with 84 tables and 60 figures as well as spread across 148 pages profiling 20 major companies is now available at www.rnrmarketresearch.com/industri…arket-report.html On a related note, another research titled Report: Industrial Dryers Market by Product (Direct, Indirect, Specialty), Type (Rotary, Fluidized Bed, Spray), Application (Food, Pharmaceutical, Fertilizer, Chemicals, Cement), and Region - Global Forecast to 2026
Now available at www.rnrmarketresearch.com/industri…arket-report.html
Reasons to access the report
This report covers the following key aspects:
- What will be the market size by 2021 and what will be the growth rate?
- What are the key market trends?
- What are the factors expected to drive the growth of the market?
- What are the challenges that impact market growth?
- Who are the key players in this market?
- Global report covers key regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions, such as the U.S., China, India, Russia, and Germany
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