Global Industrial Boiler Market Powered by North America

San Francisco, California, August 11, 2018: TMR Research’s latest report, titled, “Industrial Boiler Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” finds that the thrust on development of ultra-mega power facilities in emerging economies is serving to drive demand in the boiler market. India and China are to name two of the key such economies where such projects are gaining traction and hence are pushing up demand for boilers. Apart from that, growing focus on energy efficiency is also boding well for the industrial boiler market.

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The pressing need to further improve combustion efficiency of biomass with new materials is expected to have a positive impact on the industrial boiler market. The reduced price of biomass boilers alongside the higher efficiency of the waste are some of the benefits of using new materials in biomass. Further, the focus of the chemical and food processing industries on lowering emission is also expected to stoke the market. Rising fuel is another driver of sales of high-end heating furnaces such as industrial boilers.

From a regional perspective, North America currently accounts for a leading share in the industrial boiler market owing to stringent government regulations pertaining to the environment that has led to high uptake of energy efficient systems. Presence of large power plants in the region is also having a positive influence on the market.
With respect to growth, the Asia Pacific industrial boiler market is likely to surpass all others in the years to come because of the rising demand for boilers from chemical, metal, food, and refining industries.

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Some of the key players in the industrial boiler market are Mitsubishi Hitachi Power Systems, Ltd., Thermax Limited, Harbin Electric Group, IHI Corporation, General Electric, Bharat Heavy Electricals Limited, Siemens AG, Vapor Power International, and Cleaver-Brooks Inc.

Industrial Boiler Market : Industry Analysis, Size, Trends, and Forecast Report 2025

Industrial Boiler Market: Overview

The global industrial boiler market is driven by the presence and development of various projects of ultra-mega power in the developing economies, especially in countries such as China and India, where the population is extremely high, resulting in an increased demand for power consumption. Ultra mega power projects are also increasing across countries on account of the regulations imposed by various environmental bodies, which encourage industries, especially in the power generation sector to take strict measures so as to save energy and help in reducing harmful emissions.

During the forecast period of 2017 to 2025, the global industrial boiler market will be driven by the growing need to improvise the combustion efficiency of biomass, making use of new materials. The reduction of cost of biomass boilers as well as enhanced efficiency of the waste are some of the benefits of using new materials in biomass. This in turn will boost the growth prospects of the industrial boilers market. In addition to this, oxygen distribution in boiler bed improves the efficiency and uniformity of combustion, thereby widening the dependence of various economies on industrial boilers.

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Players within the industrial boilers market are competing with each other on the basis of cost. Key vendors are concentrating their efforts on giving customers reliability, ease of operation, safety, and sustainability.

Global Industrial Boiler Market: Snapshot 

Industrial boilers are closed vessels, basically used for burning fuels such as natural gas and coal for the purpose of providing steam to a stationary engine. The material that the pressure vessel of an industrial boiler is mainly made of is steel or alloy steel or wrought iron in the past. Owing to the risk of corrosion cracking, stainless steel is not employed in the wetted boiler parts. Nevertheless, ferritic stainless steel is employed in the section of superheater that is not exposed to heating water. Growing demand for energy efficient devices along with government regulations and norms are the prime factors influencing the demand for industrial boiler during the forecast period. Moreover, the burgeoning demand for clean energy fuel is further expected to trigger the need for industrial boilers over the coming years.

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According to the United States Environmental Protection Agency, over 21% of the global greenhouse gas emissions is from industries. Greenhouse gas emissions from industries include mineral transformation, metallurgical, and chemical processes which are not linked with energy consumption and waste management activities. 

Global Industrial Boiler Market: Key Trends

The growth of the industrial boiler market is likely to be supplemented by the positive outlook of food processing and chemical industries towards emission reduction. Government measures taken up to decrease the level of carbon emissions is expected to boost the growth of the market in the coming years. The EPA has further implemented several regulations and rules such as national emission standard for hazardous air contaminants in order to mitigate the impact of toxic gas emissions which is released during furnace operations. It is aimed at protecting the environment from the adverse impacts of air pollutants by implementing maximum allowable concentration if contaminants in the ambience. Degrading performance coupled with a gradual rise in the operation and maintenance cost is leading to the replacement of installed boilers with advanced industrial boilers. Rising fuel prices is expected to further augment the demand for high-end heating furnaces. In order to minimize the incurring expenses and optimizing the resources that are available, the deployment of industrial boilers is anticipated to take a leap. 

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Global Industrial Boiler Market: Market Potential

Leading companies in the market are focusing on leveraging on the upcoming opportunities from the demand for low-cost, energy-efficient, and reliable products. For instance, a prime company, Cleaver-Brooks Inc. developed a completely integrated set of boilers that received cUL and UL certification after meeting the safety standards defined by Underwriters Laboratories. Cleaver-Brooks Inc. also acquired leading boiler providing companies, Holman Boiler Works and Affiliated Power Services, LP and focused on an aggressive inorganic growth strategy which has been recently gaining traction in the global industrial boiler market. Another leading company, Vapor Power International, LLC acquired all the assets of Tennessee based Precision Boilers, LLC in order to expand its production units.

Global Industrial Boiler Market: Regional Outlook

Region-wise, the global industrial boiler market can be segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America is expected to emerge as a prominent region owing to growing demand for efficient energy and robust installation of numerous power plants. Asia Pacific is also likely to present lucrative growth opportunities with growing demand for boilers from metal, refining, chemical, and food industries. Demand for boilers from Indonesia, India, China, and Japan is likely to bode well for the market growth in the near future. 

Global Industrial Boiler Market: Vendor Landscape

Some of the leading companies in the market are Thermax Limited, Mitsubishi Hitachi Power Systems, Ltd., IHI Corporation, Harbin Electric Group, Bharat Heavy Electricals Limited, General Electric, Siemens AG, Babcock & Wilcox Enterprises, Inc., Cleaver-Brooks Inc., and Vapor Power International, LLC.

Need to Save Energy & Reduce Pollution Driving Industrial Boiler Market

San Francisco, California, May 16, 2017: The development of ultra-mega power projects will drive the demand in the global industrial boiler market in the near future, according to a study by TMR Research. The report, titled “Industrial Boiler Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” provides in-depth assessment of the all major factors that may influence the demand of industrial boilers, and provides projections on the future scenario until 2025.

The report has been prepared to serve as a credible business document for the participants in the industrial boiler market, such as manufacturers as well as traders and distributors of industrial boilers, end-use industries operating in this market, government and research organizations, and environment support agencies. Several leading vendors in the value chain have also been profiled in order to represent the competitive landscape in the global industrial boiler market and the available opportunities for new and regional vendors.

According to the findings of the report, emerging economies such as China and India are opening new avenues for the players in the industrial boilers market, gaining from regulations imposed by environmental regulatory bodies in several developing countries, besides their constant willingness to develop power infrastructure. Need to meet emission standards and emerging geothermal technology for clean energy are some of the other prominent factors that bode well for the future, although high capital for installation, replacement of steam-power propulsion systems in LNG carriers, and the lack of skilled workforce is expected to challenge the industrial boilers market expansion going forward.

The TMR Research report also notes a few important trends of the global industrial boilers market that vendors must take a note of. Growing demand of NOx reduction, which is driving design variations, and increasing use of biomass as fuel with improved combustion are two of those trends.

Based on boiler horse power, the global industrial boiler market can be segmented into 10BHP to 150BHP, 151BHP to 300BHP, and 301BHP to 600BHP. End-use industries using these boilers are food and beverages, chemical, pharmaceuticals, personal care, refineries, and primary metal including others. Water tube and fire tube can be the two type categories of the industrial boiler market. Geographically, the report studies the opportunities available in every important region such as Europe, North America, Asia Pacific, the Middle East and Africa, Latin America, and South America.

The report has detected stiff competition in the global industrial boilers market, which is a reflection of a large number of participants who meet localized demands. Safety, cost-efficiency, reliability, ease of operation, and customized products are some of the common strategies adopted by the major players to hold onto their customer-base. Alfa Laval, Amec Foster Wheeler, Mitsubishi Hitachi, and GE Steam Power are some of the leading companies functional in the global industrial boilers market.