Stringent government norms to control greenhouse gas emissions and minimize energy consumption will push U.S. Industrial Boiler Market revenue. Rise in the maintenance and operational costs resulting in the replacement of already installed boilers is projected to drive the industry size over the coming years. As per Global Market Insights, Inc., “U.S. Industrial Boiler Market value, which was estimated at USD 452 million in 2015, is anticipated to surpass USD 600 million by 2024.” Furthermore, growing popularity of specialty chemicals and refined petroleum items across the chemical sector will boost U.S. industrial boiler industry growth in the near future. As per the American Chemistry Council (ACC), chemical production is projected to rise by 3.7% in 2017, thereby supporting the market expansion.
U.S. Industrial Boiler Market size, by capacity, 2013 -2024 (USD Million)
Paper, Metals, Refining, Food, and Chemicals sectors are the few of the key application areas of the industrial boilers. Food sector, which accounted for over 27% of overall revenue in 2015, is expected to contribute significantly towards U.S. industrial boiler industry share over the next few years. High demand for processed food owing to changing lifestyles and food habits will drive the revenue. U.S. industrial boiler market size in the refinery sector is predicted to cross USD 95 million by 2024. Enhanced use of petrol, LNG, asphalt, and diesel will boost the industry growth. Rampant use of paper across packaging and labelling sectors will also favorably influence U.S. industrial boiler market. Metals sector is expected to push the industry growth, owing to escalating demand for steel.
Regional highlights pertaining to U.S. Industrial Boiler Market over 2016-2024 are given below:
Industry players will try to enhance their ROI through high R&D investments, joint ventures, and strategic collaborations. Key participants include Calderas Powermaster, Superior Boiler Works Incorporation, Vapor Power International LLC, Hurst & Welding Company Incorporation, Bryan Steam LLC, Sioux Corporation, Fulton Industries Incorporation, Acme Engineering Products Limited, Unilux Advanced Manufacturing LLC, Clayton Industries Incorporation, York Shipley, Cleaver-Brooks, Easco Corporation, Lattner Boiler Manufacturing Company, The Parker Company, Williams & Davis Boilers Incorporation, and Superior Boiler Works Incorporation.
Written By : Dhananjay Punekar