According to a recently published TechSci Research report “Global Industrial Boilers Market By Type, By Rating, By Application, By Region, Competition Forecast & Opportunities, 2012-2022’’, the global industrial boilers market is expected to cross $ 15 billion by 2022. Demand for industrial boilers has been witnessing robust growth from a wide range of industrial applications across chemical & petrochemicals, metal & metallurgy, and paper & pulp industries. Rising development of steel production plants across the globe is expected to further augment demand for industrial boilers during the forecast period. Moreover, the chemical & petrochemicals sector has grown significantly over the past few years and the trend is expected to prevail over the next five years, thereby resulting in increasing demand for industrial boilers across the globe.
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Asia-Pacific region dominated the global industrial boilers market in 2016, and the region is expected to continue its dominance during the forecast period as well, on account of rapid industrialization and increasing number of refineries in various countries across the region. Further, major economies such as China, India and South Korea are witnessing huge refining and metal capacity additions, which is expected to spur growth in the region’s industrial boilers market through 2022. On the basis of boiler type, water tube industrial boilers grabbed the largest market share in 2016, and the segment is expected to continue its leadership position over the next five years. In terms of rating, 151HP-300HP boiler segment would continue its dominance through 2022 on account of wide usage of these boilers in different applications.
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“Global industrial boilers market is expanding on the back of increasing investments in chemical & petrochemicals and metal & metallurgy sectors, globally. These sectors contribute a major share in the global industrial boilers market. Anticipated expansion in these sectors coupled with increase in steel capacity, especially in Asia-Pacific region, is expected to augment demand for industrial boilers over the next five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Few of the leading global players involved in manufacturing industrial boilers include Mitsubishi Hitachi Power Systems Ltd., Doosan Heavy Industries & Construction Ltd., Alstom, AMEC Foster Wheeler, Alfa Laval Corporate AB, Thermax Limited, Bosch Group, etc.
“Global Industrial Boilers Market By Type, By Rating, By Application, By Region, Competition Forecast & Opportunities, 2012-2022’’, has evaluated the future growth potential of industrial boilers market across the globe and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global industrial boilers market.
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