Sellbyville, Delaware, Oct. 15, 2018 (GLOBE NEWSWIRE) --
Water Tube Industrial Boiler Market is set to reach USD 9 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rising industrialization and resurgent economic growth across key economies will fuel the water tube industrial boiler market growth. Developing countries are primarily focusing toward the expansion of generating capacity to support the industrialization efforts initiated by the respective governments. In addition, growing efforts to mitigate the electricity supply demand gap is set to boost the deployment of high capacity boilers.
The U.S. market size is set to surpass 7 thousand units by 2024. Robust expansion across the country’s manufacturing sector driven by increased domestic demand is set to stimulate the industry growth. Strengthening focus toward energy conservation to minimize adverse environmental impacts will further complement the business scenario.
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250-500 MMBtu/hr capacity boilers are primarily utilized for steam generation in power plants, refining & other heavy industries. The rising electricity demand across Asia Pacific and Africa coupled with increasing industrial sector investments in key developing economies will propel the water tube industrial boilers market size. In Europe and North America, the demand for medium and high capacity boilers is driven by the replacement of existing high emission boilers.
Growing investments toward the expansion of industrial sector coupled with the rising demand for energy-efficient heating systems will drive the market size. The demand for these units is attributed to their longer operational life, high capacity range and safety features. Furthermore, shift toward adoption of gas-fired boilers and replacement of existing steam generating systems will augment the business growth.
Natural gas water tube industrial boiler market in 2017, was over USD 1 billion. Competitive natural gas prices coupled with the growing inclination toward the adoption of sustainable technologies will positively influence the demand for natural gas fired boilers. Stringent norms pertaining to emission control supported by national targets to curb carbon footprints will further encourage the product adoption.
Browse key industry insights spread across 725 pages with 1130 market data tables & 73 figures & charts from the 2018 report Water Tube Industrial Boiler Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/water-tube-industrial-boiler-market
Rising investments in the infrastructural development and electricity capacity additions across the globe will stimulate the water tube industrial boiler market growth. The participation of financial institutions including the World Bank and Asian Development Bank (ADB) along with regulated public funding schemes have created a favorable business scenario. Increasing electricity demand along with shift toward energy conservation will further accelerate the adoption of energy efficient boilers.
The UK market is set to witness robust growth on account of stringent legislative requirements pertaining to energy efficiency and conservation. Ongoing retrofits and replacement of existing heating systems in accordance with the emission compliance norms will further support the industry growth.
Notable industry participants active in water tube industrial boiler market include Bharat Heavy Electricals Limited, Bosch Thermotechnology, Cleaver-Brooks, Babcock and Wilcox, Forbes Marshall, Thermax, AMEC Foster Wheeler, Siemens, General Electric, Doosan, Rentech, Hurst Boiler, Fulton, Clayton, Mitsubishi Hitachi Power Systems, Cochran and IHI amongst others.
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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.