Sellbyville, Delaware, Oct. 04, 2018 (GLOBE NEWSWIRE) --
Global Fire Tube Industrial Boiler Market is set to cross the revenue of USD 3 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rapid industrialization coupled with rising investment toward expansion of industrial facilities will drive the global fire tube industrial boiler market size. Stringent legislative mandates along with measures to reduce dependence on conventional fuel will further elevate the business growth. For instance, the European Union Directive (EU) 2015/2193 limits the emissions of pollutants from medium combustion plants.
The U.S. market is set to surpass 4 thousand units by 2024. Increasing industrial investment for the replacement of conventional heating units intended toward environmental compliance will stimulate the industry growth. Sizeable expansion in the refining capacity to serve the rising demand of fuel coupled with strengthening measures to upgrade the manufacturing capabilities will further favor the industry landscape.
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Compact design, low ownership cost and high efficiency are some of the product’s prominent features that will propel the fire tube industrial boiler market size. Furthermore, rising focus toward technological advancements, primarily for the improvement of fuel utilization efficiency will augment the product demand. For instance, in 2017, Bosch Thermotechnology introduced ULS steam boiler system that is capable of providing low running cost while saving over 47 cubic meters of natural gas per hour.
Fire tube industrial boiler market size is predicted to grow on account of the product’s suitability for small and medium scale industries along with the ongoing expansion of small-scale industry sector. According to the United States Trade Representative (USTR), there are over 30 million small and medium scale industries operating in the U.S. as of 2017. Furthermore, low initial cost, easy maintenance, compact design, steady steam/hot water supply and optimum load surge handling capability are some of the key features that will boost the product’s adoption.
Browse key industry insights spread across 665 pages with 1132 market data tables & 72 figures & charts from the report, “Fire Tube Industrial Boiler Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fire-tube-industrial-boiler-market
Condensing fire tube industrial boiler market size is anticipated to expand over 4% by 2024. Lower environmental pollution, reduced heating costs and high efficiency are some of the prominent features that make the product deployment preferable over other alternatives. Ongoing government initiatives pertaining to adoption of low emission systems will further drive the business growth.
Regulatory support along with rising infrastructural investment will fuel the China market growth. The country has planned robust growth and expansion of its manufacturing sector under its 13th FYP (2016-2020) which will complement the industry landscape. Increasing per capita income coupled with growing population will further propel the business growth. For instance, as per the UN World Population Prospects, the population of China is predicted to reach over 1.44 billion by 2024.
Escalating demand for specialty chemicals in conjunction with increased investment for establishment of new manufacturing facilities will stimulate the fire tube industrial boiler market growth. Increasing chemical production in Asia-Pacific region will further drive the demand for these steam generating units. As per the World Economic Forum, key economies comprising China and India are set to contribute majority of chemical production by 2020.
Eminent industry participants in the global market comprise include Cleaver-Brooks, Thermax, Bharat Heavy Electricals Limited, AMEC Foster Wheeler, Siemens, Doosan, Hurst Boiler, Babcock & Wilcox, Bosch Thermotechnology, Forbes Marshall, Fulton, Mitsubishi Hitachi Power Systems, Clayton, General Electric, Rentech, IHI and Cochran amongst others.
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Browse Related Reports:
- Industrial Boiler Market Size 2018 – 2024
Global Industrial Boiler Market revenue, in 2017 was valued at over USD 9 billion with annual deployment to exceed 100 thousand units by 2024. Rapid industrialization coupled with ongoing investments toward expansion of manufacturing facilities will drive the global industrial boiler market outlook.
https://www.gminsights.com/industry-analysis/industrial-boilers-market
- U.S. Industrial Boiler Market Size 2018 – 2024
U.S. Industrial Boiler Market outlook was valued at over USD 1.2 billion in 2017 and annual installation is anticipated to exceed 13,000 units by 2024. Positive outlook toward food processing industry along with ongoing investments toward expansion of chemical plants will propel the U.S. market revenue.
https://www.gminsights.com/industry-analysis/US-industrial-boiler-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.