San Jose, California (PRWEB) March 10, 2014
Follow us on LinkedIn – Industrial boilers are used for the purpose of providing heat, hot water, steam for heating, humidification and power generation in a wide range of industries. Growth in the industrial boilers market is primarily a factor of demand trends in major end-use application industries such as chemicals, building materials, food & beverage, oil & gas industries, automotive, paper & pulp, and iron & steel industries, among others. Increase in construction spends in both developed as well as developing markets, rebounding automotive production, and rapid industrialization are all contributing towards augmenting demand for industrial boilers.
With growth in the market strongly linked to industrial production, the world economic recession, not surprisingly weakened sales in the market. Due to the slump in production and the credit crunch, buyers postponed or annulled purchase contracts for capital-intensive boiler projects over the period 2008-2009. However, gradual recovery of the world economy along with surging demand for energy-efficient boilers revived the market in the year 2010. North America is witnessing steady growth among the developed markets and the situation in Europe is also seeing signs of improvement. However, Europe is expected to witness relatively slower growth due to continued economic and political pressures and relatively lower investment in the manufacturing and infrastructure sectors.
The strong focus on cost reduction, efficiency enhancement and emission control is driving technological advancements in the market. Increasingly stringent environmental regulations are heavily influencing the industrial boiler market in industrialized countries. Energy efficiency is a key influencer of boiler sales, given that the system cost, expressed as the cost of generating steam over the entire lifecycle of a boiler, is largely a product of fuel costs. Hence, boiler plant operators are constantly on the lookout for techniques, technologies and processes to enhance efficiency, reduce costs, and lower the ecological impact of boilers in line with applicable regulatory standards. Consequently, natural gas fired boilers are gaining popularity in several key markets owing to favourable fuel prices, lower maintenance costs, and reduced carbon emissions in comparison to coal-fired boilers. The USEPA Boiler MACT regulations and EU and European Parliament directives for limiting GHGs and HAP emissions are driving the trend towards replacement of coal fired boilers with natural gas and biomass fired boilers. The industrial boilers market is going green, as reflected by the growing popularity of various steam boiler formats powered by biofuels, biomass, and solar energy, across the globe, right from North America to sub-Saharan Africa.
Demand for circulating fluidized bed (CFB) Boilers is on the rise owing to the lower operating temperature, fuel flexibility, reduced emission of GHGs and HAPs, and stable operating conditions provided by the technology. Waste heat boilers (WHBs) are increasing in demand, particularly in China, due to rising need for new power generating capacities and higher plant efficiencies, as well as increased government support and growth in waste incineration and biomass production capacities.
As stated by the new market research report on Industrial Boilers, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 5.3% over the analysis period. Growth in the region is led by dramatic population expansion, increased urbanization, robust pace of industrialization, government infrastructure development programs and GDP growth. As the global manufacturing hub, increased manufacturing activity, large pool of low-cost and skilled labor and close proximity to lucrative markets are providing a major boost to demand, particularly in China and India.
Major global players covered in the report include Alstom Group, Bharat Heavy Electricals Limited, Bosch Industriekessel GmbH, Cethar Limited, Doosan Heavy Industries & Construction Co. Ltd., Foster Wheeler AG, Hitachi Ltd., Babcock-Hitachi K.K., IHI Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Miura Co. Ltd., Taishan Group Taian Boao Int’l Trade Co. Ltd., Takuma Co. Ltd., The Babcock & Wilcox Company, Thermax Ltd., and Wellman Boilers, among others.
The research report titled “Industrial Boilers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in terms of Annual Capacity Additions in Tons of Steam per Hour (TSPH) for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), the Middle East & Africa, and Latin America. Key end-use industries analyzed include Oil & Gas, Chemical, Food & Beverage, Building Materials, and Others.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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