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Boiler Market Segmentation, Analysis by Recent Trends, Development by Regions to 2025

Author : Rahul Sankrityayan | Published Date : 2019-10-07 

The Boiler Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

The U.S. boiler market is set to surpass annual deployment of 700'000 units by 2024. Rising investment across commercial & industrial establishments along with growing efforts toward the replacement of conventional boilers will drive the industry growth. Positive outlook toward chemical and primary metal industry will further nourish the business outlook.

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Global Boiler Market is predicted to reach over USD 65 Billion by 2024. Growing investment toward the expansion and upgradation of commercial facilities coupled with ongoing industrialization across developing economies will propel the deployment of these steam generating units. In addition, rising focus toward energy efficient units on account of growing concerns over greenhouse gas emissions will further drive the product demand.

Ongoing demand for electricity owing to rapid industrialization will drive the global boiler market growth. Massive investment plans to increase the power generating capacity of the powerplants across various emerging economies in Asia Pacific and Africa region will propel the product adoption. For instance, NHPC announced to generate additional 4458.6 Million Units (MUs) power from its Parbati-II and Kishanganga projects by end of 2018.

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Commercial boiler market will reach over 6% by 2024. High efficiency, lower breakdown risk, automation option & ambient air quality are some of the underlying abilities of these boilers which will propel their adoption. Moreover, surge in demand for hot water & steam from temperate and hot climatic zones will fuel the industry growth.

Gas fired boiler market will grow owing to shifting trends toward green technology and cleaner fuel sources. Stringent government mandates to curb emissions along with growing environmental concerns will further augment the business growth. For instance, in 2018 the UK signed the fifth carbon budget to reduce 57% GHG emissions between 2028-2032.

In 2017, the UK boiler market was valued over USD 2 billion. Sturdy technological advancements along with upgraded gas infrastructure will propel the business growth. For instance, as per the Infrastructure and Projects Authority (IPA), an investment of over USD 700 billion will be allocated on infrastructure development in the next 10 years.

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Global commercial boiler market will witness robust growth on account of strengthening demand for the replacement of old heating systems along with positive outlook toward healthcare industry. Improved gas pipeline infrastructure, technological advancements and government subsidies will further propel the business growth. For instance, as per the IEA, Russia has offered Natural Gas subsidy of USD 9 billion.

Eminent players operating in the global boiler market include: Burnham, Fulton, Babcock & Wilcox, General Electric, Parker, Hurst Boiler & Welding, Cochran, Thermax, A.O. Smith, BHEL, Forbes Marshall, Cleaver-Brooks, Weil-McLain and others.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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