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Global Industrial Boiler Market – Overview
According to a recent study report published by the Market Research Future, The global market of Industrial Boiler is booming and expected to gain prominence over the forecast period. The Global Industrial Boiler market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2027). The key drivers of industrial boiler market include rising industrialization along with positive outlook towards food processing industry. Robust industrial growth across the countries in Asia comprising India, Indonesia, Philippines, and others would lead to increase in the demand for industrial boilers.
Boilers are pressure vessels that are used to supply heated waste or steam to an industrial process. They are the primary equipment used in industries to for steam generation and supply. The Global Industrial Boiler Market is growing with the rapid pace; mainly due to growing demand from food processing sector. One of the foremost concern of food processing firms is the elimination of microbiological threats. Heat is one of the most common methods utilized to reduce or eliminate any microbiological threats. Hence, there has been a rapid surge of integration of Industrial boilers into food processing industry, in recent times.
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Global Industrial Boiler Market Competitive Analysis
Global Industrial Boiler Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Leading Players:
Babcock & Wilcox Co. (U.S.), Thermax Ltd. (India), GE Alstom SA.(France), Doosan Heavy Industries & Construction (South Korea), Siemens AG (Germany), IHI Corporation (Japan), Dongfang Electric Corporation Ltd. (China), Bharat Heavy Electricals Ltd.(India), Harbin Power Equipment Co. Ltd.(China), Mitsubishi Heavy Industries Ltd.(Japan), Hitachi Ltd.(Japan)
Industrial Boiler Market Segmental Overview
Global Industrial Boiler Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of type, market is segmented into Pulverized Coal Fired, Fluidized Bed, Packaged, Heat Recovery Steam Generators, and others.
On the basis of fuel type, market is segmented into Oil, Coal, Gas, and other fuels.
On the basis of pressure range, market is segmented into High and Low.
On the basis of End-Users, market is segmented into oil & gas, power, food & beverage, textile, pulp and paper, and others.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Intended Audience:
The intended audience of global industrial boiler market are industrial boiler manufacturers, traders & distributors of industrial boilers, government & research organization, associations and industrial bodies, R&D institutions, environment support agencies, and investment banks and private equity firms.
Global Industrial Boiler Regional Industry Analysis
North America region dominates the global Industrial Boiler Market and is expected to witness the highest growth during the forecast period. Rapid installation of several power plants has led to the increased demand for industrial boilers in the region. The U.S. is the major contributor in North America region.
Asia Pacific is another major region for the industrial boiler. China, Japan, India, and Singapore are the major market in Asia Pacific region. The increase in number of investments in petrochemicals refinery projects such as ethylene steam cracker project will be one of the major factors fueling market growth in this region. Key players across the globe are gradually shifting their production facilities to cater to high potential markets in Asia Pacific mainly due to the availability of low-cost labor and ample raw material stocks. This has the positive influence on the growth of the market. Middle East regions is also expected to contribute significantly during the forecast period mainly due to growing demand from power plants & refineries.
Industry News
Cleaver-Brooks, provider of boiler-room products and systems, has announced the acquisition of two Texas-based boiler sales and service companies: Holman Boiler Works Inc. and Affiliated Power Services (APS).
Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has announced that it has signed a Technology License Agreement (TLA) for the Selective Catalyst Reduction System (SCR System) with L&T-MHPS Boilers Private Ltd. (LMB), a joint venture company of Larsen & Toubro Limited and MHPS.
Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has received an order for a boiler, a steam turbine and a generator for the San Buenaventura Power Plant, a 500 megawatt (MW) ultra-supercritical-pressure (Note) coal-fired power generation plant to be built by San Buenaventura Power Ltd., a special purpose company (SPC), in the Philippines.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
Continue…
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