SELBYVILLE, Delaware, June 27, 2018 /PRNewswire/ --
World Industrial Boiler Market is expected to cross USD 14 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Global industrial boiler market is poised to witness growth on account of rising infrastructural investment along with increasing focus toward automation. Strengthening measures to reduce dependency on conventional fuel coupled with introduction of stringent emission norms will further stimulate the business growth. For instance, the EU Medium Combustion Plant (MCP) Directive (2015/2193) regulates pollutant and dust emissions from the combustion of fuels in industrial plants.
Rapid industrialization reinforced by continued legislative support will propel the China industrial boilers market. The country as part of its 13th Five Year Plan (2016-2020), has set strategic pathway for the robust development and expansion of its industrial sector which in turn will augment the business landscape. Expanding population size along with rising per capita income will further complement the industry outlook. In 2017, the United Nations projected the population of China to surpass 1.4 billion by 2022.
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Sizeable investments toward the replacement of traditional heating systems aimed at environmental compliance will drive the U.S. industrial boilers market growth. The industry expansion is further attributed to the significant growth in the country's refining capacity to cater to the resurgent fuel demand. According to EIA, in 2017, the operable atmospheric crude distillation capacity increased by over 1.6% when compared to 2016 in the U.S.
>250 MMBtu/hr industrial boiler market is anticipated to expand over 4% by 2024. These boilers find predominant applications across various industries including pulp and paper, refinery, chemical and others. The robust growth across the pulp and paper industry on account of rising demand for e-commerce packaging and robust retail activities, will further strengthen the product deployment.
Browse key industry insights spread across 600 pages with 1376 market data tables & 12 figures & charts from the report, "Global Industrial Boiler Market Size By Capacity (<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr ), By Product (Fire-tube, Water-tube), By Technology (Condensing, Non-condensing), By Fuel (Natural Gas, Oil, Coal), By Application (Food, Paper, Chemical, Refinery, Primary Metals), Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Japan, South Korea, Australia, Indonesia, Philippines, Saudi Arabia, Iran, UAE, Egypt, Nigeria, Kenya, Morocco, South Africa, Brazil, Argentina, Columbia, Chile, Venezuela) , Competitive Market Analysis & Forecast, 2018 - 2024" in detail along with the table of contents:
Water tube industrial boilers market is predicted to grow over 3% by 2024. Flexibility in design, rapid circulation, efficient performance and thin tubes are some of the key features that will drive the product demand. Growing need for steam generating solutions from medium and large-scale industries will further facilitate the product penetration.
Natural gas fired industrial boilers market.is set to expand over 4% by 2024. Regulatory directives promoting use of clean fuel along with stringent emission norms will drive the demand for these heating systems. For instance, the European Union issued guidelines under the Directive 92/42/EEC pertaining to energy efficiency, energy conservation & emission reduction across key economic sectors.
Food processing and beverage industry will foster the industrial boiler market growth on account of robust macro-economic indicators and fiscal policies. Escalating demand for processed food along with rising per capita income in major economies will stimulate the industry outlook. For instance, Poland retail sale of packaged food, in 2016 was valued over USD 17 billion and is anticipated to surpass USD 20 billion by 2021.
Key industry participants across the industrial boiler market include General Electric, Clayton, Forbes Marshall, Bharat Heavy Electricals Thermax, Fulton, Cochran, Mitsubishi Heavy Industries, Cleaver-Brooks, Rentech, Hurst Boiler, Saudi Boilers, Babcock and Wilcox, Foster Wheeler, Doosan Corporation and Parker Boilers.
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U.S. Commercial Boiler Market share in 2017 was over USD 3,000 million and the annual installation is set to exceed 80,000 units by 2024. Government focus toward improvement of healthcare facilities coupled with investment toward retrofitting of educational establishments will propel the commercial boiler market growth.
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