With the commercialization of industrial boilers having ascended over the recent years, fire tube industrial boiler market is anticipated to witness a positive growth trajectory as well over 2018-2024. Fire tube industrial boilers find extensive applications in food processing, paper and pulp as well as chemical industries that have been registering exponential growth in the recent decades. The massive growth trend is expected to continue in the next few years, the impact of which is certain to be felt across the revenue graph of the overall fire tube industrial boiler market.
China Fire Tube Industrial Boiler Market Size, By Application, 2017 & 2024 (USD Million)
Unveiling fire tube industrial boiler market trends from the food processing sector
The food processing industry is one of the most ardent users of boilers – in most probability, fire tube industrial boilers. Industrial food processing involves the application of heat at several stages as heat still constitutes one of the basic means of reducing and effectively eliminating microbiological risk in food. Moreover, heat is also needed to cook the food to make it smoother, softer, digestible and overall more appealing. Heat is also an integral step in operations such as sanitation at pre-filling stage, sterilization of packaged food, pasteurization, cleaning of sanitation procedures of surfaces, equipment and food plant in general. Industrial boilers play a major role in producing this heat and it is needless to mention that with the expansion of the food processing industry, fire tube industrial boiler market share is certain to depict a major upsurge.
Certain factors have largely attributed to the growth of the global food processing industry such as increase of income levels among consumers in emerging economies as well as recovering economy in developed nations. With more disposable incomes, a significant rise in preference for pre-packaged food has been recorded across the globe. While North America is arguably the largest market for processed food across the globe, emerging markets like China, India, Argentina and Brazil have registered increasing customer demand for processed and packaged foods. Other factors like, women participating more widely in the job market thereby left with less time to cook and a young generation of consumers preferring convenience foods have also added impetus to the growth of the food processing industry, indirectly adding momentum to fire tube industrial boiler market.
Unveiling fire tube industrial boiler market trends from the chemical sector
The chemical industry is yet another segment that demands industrial boilers on a large scale. Being one of the largest industries across the globe, it goes without saying that its colossal expansion scope is likely to create positive growth avenues for the fire tube industrial boilers market. in 2017, chemical industry accounted for approximately 25% of the fire tube industrial boiler market revenue, propelled by the rising demand for petrochemical products, cosmetics, commodity and fine chemicals. For instance, due to shrinking acreage of land available for food supply on account of many areas increasingly being used for the production of biofuel material, it is becoming important to use agrochemicals such as fungicides, fertilizers, insecticides, herbicides etc. to maximize agricultural yield. With the demand for such chemicals growing each year, the chemical industry is expected to receive a boost, which in turn will be reflected in the fire tube industrial boiler market growth statistics over 2018-2024.
As regulations regarding decreasing greenhouse gases emission rises along with the volatility of boiler fuel costs, it is imperative that the ensuing years will witness a slew of industrial boiler upgradations, a trend that will positively affect the fire tube industrial boilers industry. It is rather discernible to utilize every bit of fuel for the utmost production of energy. In other words, all of the heat value in fuel should be converted to steam energy so as not only to maximize industrial yield but also to reduce the emission of greenhouse gases.
Though boiler upgradations are often expensive, in the long run more fuel-efficient boilers can save money for the company as well as make it easier to obtain an environmental permit, owing to which boilers that have already operated successfully for more than 25 years are being replaced with boilers with better fuel efficiency features, a trend noticed in the fire tube industrial boilers market. The fire tube industrial boiler market size which was evaluated to amass $2 billion in 2017 is thus anticipated to record installation of nearly 40,000 units over 2018-2024, indicating promising growth trends over the ensuing years.