RISING DEMAND FOR ENERGY WORLDWIDE IS PRIME CONTRIBUTOR IN THE BOOSTING DEMAND FOR INDUSTRIAL BOILERS

Industrial Boilers Market Size, Share, Trends, Growth, Analysis, Research

Global Industrial Boilers Market: Key Highlights

  • According to the new market research report Industrial boilers Market by Fiber (Non-biodegradable, Biodegradable), by Fabric Type (Non-woven, Woven), by Application (Non-Implantable, Implantable, Healthcare & Hygiene), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global industrial boilers market is projected to reach a value of over USD 20 billion, with the CAGR of over 5% in the forecast period
  • Boilers are used for heat and steam generation across various manufacturing facilities

Industrial Boilers Market

Global Industrial Boilers Market: Key Market Dynamics

  • Growing demand for energy globally to carry out different industrial activities is driving the market growth
  • Increasing demand for industrial boilers from the manufacturing sector owing to rise in industrialization in the emerging economies is another factor fueling the market growth
  • Regulation on the industrial boilers is having a negative impact on the market growth

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Global Industrial Boilers Market: Regional Overview

  • North America

The US has emerged as the industrialized country leading to an increased demand for industrial boilers. According to US Energy Information Administration (EIA), 32% of the total energy consumption is attributed to industrial sector, which in turn escalates the energy demand. This, is expected to foster the demand for industrial boilers.

  • Europe

In Europe, chemical industry is crucial for boosting the regional economy. Europe has emerged as the second largest chemical producing region, contributing 16.9% of the global sales. The growing demand for chemicals in the region is driving the demand for industrial boilers. As per the European Chemical Industry data, the chemical industry in Europe escalated by 2.8% from 2017 to 2018.

Global Industrial Boilers Market: Key Players Overview

  • Thermax Global:

Thermax Global engages through production of heaters, boilers and cooling equipment, power generation equipment and chemicals across the globe. The company designs, builds & commercializes the boilers used in heat and power generation. In march 2017, the company acquired 100% share capital of Poland based Barite Investments Sp. z.o.o. Within this acquisition, the Thermax Global acquires assets and production activities of the boilers

  • General Electric:

General electric is the multinational conglomerate operating across healthcare, aviation, power and energy generation and additive manufacturing among others. The company offers boiler using hard coals, lignite, and oil/gas, and Circulating Fluidized Bed (CFB) dedicated for power generation. In July 2018, the company signed an agreement with the Elektrownia worth USD 1.6 billion for supercritical (USC) coal power plant and manufacturing boiler and steam turbine generator.  

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Published : 2020-03-11