November 28, 2019
According to the research report titled ‘Global Industrial Boiler Market: By Capacity (10-150 BHP, 151-300 BHP, >300 BHP), By Product (Fire tube, Water tube), By Fuel (Coal, Natural Gas, Oil), By End User Industry (Food & Beverage, Paper & Pulp, Chemical, Refinery, Primary Metals), By Region, By Country: Opportunities and Forecast (2018-2023)’ available with Market Study Report LLC, the global industrial boiler market is estimated to grow with a CAGR of 4.58% during the period of 2018-2023.
Growing manufacturing sector in developed and developing countries, in tandem with increasing industrialization with respect to food & beverages, chemicals, textile, metal, paper & pulp, and refinery leading to higher demand for boilers for power generation and other processes are impelling the growth of industrial boiler market. Another factor aiding the market expansion is the surging need of industrial boilers in commercial sector.
As per capacity, the global industrial boiler market is categorized into 10-150 BHP, 151-300 BHP, and more than 300 BHP. In terms of product type, the industry is classified into fire tube boiler and water tube boiler. Based on fuel used, the industrial boiler market is divided into oil, coal, and natural gas.
Considering the geographical landscape, the global industrial boiler market are divided into regions namely, Europe, North America, Asia-Pacific, and rest of the world, with primary focus on nations like Canada, US, Mexico, France, Germany, UK, India, China, and Japan.
The report cites that APAC industrial boiler market held the largest regional share in 2018 and is presumed to witness accelerated growth over the forecast period, owing to growing industrial sector in developing economies like India, Japan, China, South Korea, Thailand, and Indonesia.
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The key players in the global industrial boiler market are Thermax Ltd., General Electric Corp., AMEC Foster & Wheeler, ISGEC Heavy Engineering Ltd., IHI Corp., Babcock & Wilcox, Cleaver Brooks, Clayton, Rentech Boilers, and Hurst Boiler & Welding Co. Inc.
Notably, the research report examines the potential growth opportunities in industrial boiler market. The study further intends to deliver top-notch business information and help investors to thoroughly evaluate their investments.
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