Sellbyville, Delaware, Sept. 19, 2018 (GLOBE NEWSWIRE) --
The U.S. industrial Boiler Market will reach USD 1.6 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. The U.S. market will witness robust growth driven by ongoing investments toward food processing industry coupled with rapidly growing chemical sector. Rising fuel demand across the country will lead to capacity expansion of petroleum refineries, which in turn will further drive the industry growth. According to EIA as of June 2018, total operable oil distillation capacity across the country exceeded 18.5 million barrels per day.
California industrial boiler market is anticipated to surpass 19,000 MMBtu/hr by 2024. Food processing, metals, equipment manufacturing, and chemicals are some of the key industries operating across the region which will propel the product deployment. In 2017, manufacturing sector accounted for over 11% of the state’s GDP with a value of over USD 261 billion.
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Gas fired industrial boiler market will witness robust growth on account of the product’s high energy efficiency, lower maintenance cost along with easy accessibility of fuel. Additionally, sturdy replacement of conventional heating systems driven by concerns over high fuel prices and carbon emissions along with shifting trends toward clean fuel will provide an impetus to the industry growth. As per EIA, industries consumed over 7,700 billion cubic feet of natural gas in 2016 growing over 2% from the former year.
Higher efficiency and low operating cost in conjunction with supportive federal regulations are some of the paramount factors that will drive the condensing industrial boiler market. These units utilize the thermal energy from exhaust gas by recovering the latent heat by condensing the outgoing water vapors. However, higher upfront cost compared to non-condensing boiler units and inability to work in extremely low temperature conditions may hinder the industry growth.
Browse key industry insights spread across 800 pages with 1680 market data tables & 32 figures & charts from the report. “U.S. Industrial Boiler Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/US-industrial-boiler-market
South Atlantic industrial boiler market is anticipated to witness growth of over 4% by 2024. Burgeoning economic growth owing to business-friendly environment has led to increased investments toward development of new manufacturing units, subsequently resulting in boost to product demand. In past few years, Georgia, Florida, North Carolina and South Carolina has witnessed growing investments toward food processing, metal and advanced manufacturing sectors.
Growing efforts by federal and state authorities toward reducing carbon emissions will foster the adoption of energy efficient heating units across the industrial sector, resulting in an enhancement of industrial boiler market size. For instance, the Environmental Protection Agency enforced National Emission Standard (NESHAP), as a step to limit carbon footprints of energy intensive industries.
North East, in 2017 accounted for over 18% of the U.S. industrial boiler market revenue share. Ongoing investments toward paper & pulp business along with substantial growth across primary metal industry will boost the product deployment. Pennsylvania, New Jersey and New York are some of the major industrial centers for manufacturing plants which accounting for over 64% of the region’s manufacturing capacity.
Prominent industry participants across the U.S. market are Parke, Miura, Fulton, Hurst, Columbia Boiler Company, Cleaver-Brooks, Williams & Davis, Acme, Unilux., York-Shipley, Clayton, Vapor Power, Bryan Steam, Superior, Easco, Calderas, Le Groupe Simoneau, Sioux and P. M. Lattner among the 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.