Global Industrial Boilers Market: Key Highlights
Global Industrial Boilers Market: Key Market Dynamics
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Global Industrial Boilers Market: Regional Overview
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.
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 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 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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