Global Industrial Boilers Market 2018-2023: Focus on Chemical, Food, Refineries, Metals & Mining
DUBLIN, June 19, 2018 /PRNewswire/ --
The "Industrial Boilers Market by Type (Fire-tube, Water-tube), Fuel Type (Natural Gas & Biomass, Oil, Coal), End-Use Industry (Chemical, Food, Refineries, Metals & Mining), Boiler Horsepower, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial boilers market is estimated to be USD 13.07 Billion in 2018 and is projected to reach USD 17.18 Billion by 2023, at a CAGR of 5.6% between 2018 and 2023.
One of the major growth drivers for the market includes increasing demand from the food industry in emerging regions, such as Asia Pacific. Factors such as increasing demand for natural gas-fired boilers and government initiatives to promote clean energy and reduce dependency on fossil fuel directly or indirectly influence the industrial boilers market.
Based on boiler horsepower, the industrial boilers market was dominated by the 10-150 BHP segment. Most of the end-use industries, such as chemical and food, prefer boilers in the 10-150 BHP range. Rising demand from the food & beverages industry, which is a major market for 10-150 BHP boilers, is expected to drive the 10-150 BHP segment of the industrial boilers market.
Based on fuel type, the industrial boilers market was dominated by the natural gas & biomass segment, as most of the end-use industries, such as chemical, metals & mining, and food are moving toward adopting natural gas as their primary fuel. Natural gas is slowly capturing the industrial boilers market as primary fuel and is amongst the first choices to replace coal in developed countries. This replacement has already been implemented and is also expected to be a success because natural gas is abundant in nature and cheaper than other fuels.
High installation cost is one of the major restraints observed in the market. Some of the key companies operating in the industrial boilers market include Babcock & Wilcox (US), Dongfang (China), Siemens (Germany), General Electric (US), AC Boilers (Italy), Bharat Heavy Electricals Limited (India), Harbin Electric Group (China), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems (Japan), and Thermax (India). These players, with global operation, established distribution network, and industry expertise, are investing more in research & development activities. They also have strong technical and market development capabilities, which enable them to upgrade their existing products for new applications.
On the basis of type, the industrial boilers market has been segmented into water-tube and fire-tube. The fire-tube segment dominated the market in 2017 and is also projected to grow at a higher rate than the water-tube segment owing to the compact design and efficient operation of fire-tube boilers.
The industrial boilers market has been segmented on the basis of end-use industry into food, chemical, refineries, metals & mining, and others. The chemical industry segment dominated the global industrial boilers market in 2017. The food segment is expected to grow at the highest CAGR from 2018 to 2023 with increasing expansions from processed food, dairy, and beverage companies.
The industrial boilers market in the Asia Pacific region is anticipated to grow at the highest CAGR between 2018 and 2023. Asia Pacific is a leading market for industrial boilers mainly due to rising industrialization of the region's emerging economies, such as China, India, and ASEAN countries. The region is a major consumer of boilers, which are used in the food, chemical, refining, and metals & mining industries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Boilers Market
4.2 Global Industrial Boilers Market, By Region
4.3 Industrial Boilers Market, By Type
4.4 Industrial Boilers Market, By Fuel Type and End-Use Industry
4.5 Industrial Boilers Market: Emerging vs Developed Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Industrial Boilers From the Food & Beverage Industry
5.2.2 Restraints
5.2.2.1 High Cost of Installation
5.2.2.2 Boiler Efficiency and Steam Quality
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Compact Designs and Lean Operations
5.2.3.2 Increasing Use of Natural Gas
5.2.4 Challenges
5.2.4.1 Strict Emission Standards
5.2.4.2 High R&D Investments
5.3 Cost Structure Analysis
6 Industry Trends
6.1 Introduction
6.2 Revenue Pocket Matrix
6.2.1 Revenue Pocket Matrix for the Industrial Boilers Market, By End-Use Industry, 2018
6.2.2 Revenue Pocket Matrix for the Industrial Boilers Market, By Type, 2017
6.2.3 Revenue Pocket Matrix for the Industrial Boilers Market, By BHP, 2018
6.2.4 Revenue Pocket Matrix for the Industrial Boilers Market, By Fuel Type, 2018
6.3 Economic Indicators
6.3.1 Industry Outlook
6.3.1.1 Chemical Industry
6.3.1.2 Refineries
6.3.1.3 Food Industry
6.3.1.4 Primary Metal Industry
7 Industrial Boilers Market, By Fuel Type
7.1 Introduction
7.2 Natural Gas & Biomass
7.3 Oil
7.4 Coal
7.5 Others
8 Industrial Boilers Market, By Type
8.1 Introduction
8.2 Market Size and Projection
8.3 Fire-Tube Boilers
8.4 Water-Tube Boilers
9 Industrial Boilers Market, By Boiler Horsepower
9.1 Introduction
9.2 10-150 BHP
9.3 151 -300 BHP
9.4 301 - 600 BHP
10 Industrial Boilers Market, By End-Use Industry
10.1 Introduction
10.2 Chemical
10.3 Food
10.4 Metals & Mining
10.5 Refineries
10.6 Others
11 Regional Analysis
12 Competitive Landscape
12.1 Overview
12.1.1 Contract and Agreements: the Most Popular Growth Strategy
12.2 Competitive Scenario
12.2.1 Contracts and Agreements
12.2.2 Expansions
12.2.3 Mergers & Acquisitions
12.2.4 New Product Launches
13 Company Profiles
13.1 AMEC Foster Wheeler PLC
13.2 Babcock & Wilcox Enterprises, Inc.
13.3 Dongfang Electric Corporation Ltd.
13.4 General Electric Company
13.5 Siemens AG
13.6 AC Boilers S.P.A
13.7 Bharat Heavy Electricals Limited
13.8 Harbin Electric Corporation
13.9 IHI Corporation
13.10 Mitsubishi Hitachi Power Systems, Ltd.
13.11 Thermax Limited
13.12 Other Key Players
13.12.1 Ab&Co Group
13.12.2 Alfa Laval Aalborg
13.12.3 Andritz Energy & Environment
13.12.4 Suzhou Hailu Heavy Industry
13.12.5 Robey-Wellman Boilers & Furnaces Ltd.
13.12.6 Taiyuan Boiler Group
13.12.7 Vapor Power International, LLC
13.12.8 Superior Boiler Works Inc.
13.12.9 Bryan Steam, LLC
13.12.10 Hurst Boiler & Welding Company, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/kh3rmr/global_industrial?w=5
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