The Global Industrial Boilers Market is projected to upsurge and reach USD 20.5 Billion by 2027 with the CAGR of over 5%
Market Drivers:
Growing demand for energy globally for performing industrial activities is expected to drive the industrial boilers market. Boilers are used in the power generation for production of highly pressurized steam for electricity production. Strong economic growth, population growth, increasing dependence on renewable energy source, rapid industrialization in the emerging nations is generating higher need for energy. U.S. Energy Information Administration (EIA) estimates the global consumption of energy is expected to rise 50% between 2018 to 2050. Additionally, countries such as China, US, and India contribute for approximately 70% of the rise in energy demand around the world, which fuels the demand for industrial boilers.
Industrial boilers have gained immense importance in production facilities and operations across manufacturing sector for production and supply of heat energy, steam and hot water to carry out different purpose. Growing global population, increasing demand for food, higher preference for processed food products is driving demand for industrial boilers in food and beverage industry. Increasing demand for boilers for drying, sterilizing, and purifying process, is supporting the demand for industrial boilers in pharmaceutical sector.
Market Restraint:
The growth of the industrial boiler market is expected to hamper in the years to follow owing to strict regulation imposed by the regulatory authorities regarding CO2 and NOx emission. The US Environmental Protection Agency (EPA) has imposed stringent standard numerical limits for mercury, acid gas and other emissions to curb pollution.
The report on the industrial boilers market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Heat Source, and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Boilers Market, by Type
Industrial Boilers Market, by Heat Source
Industrial Boilers Market, by Application
Industrial boilers Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INDUSTRIAL BOILERS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY