Sellbyville, Delaware, Sept. 21, 2018 (GLOBE NEWSWIRE) --
Global Industrial Boiler Market is set to exceed USD 12 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rapid industrialization across emerging economies coupled with substantial investments toward the expansion and modernization of existing industrial facilities will stimulate global industrial boiler market size. For instance, in 2018, Lord Corporation announced to invest USD 80 million to expand and upgrade its manufacturing facility in the U.S. by 2023. Furthermore, shifting trends toward energy efficient heating systems on account of rising concerns over greenhouse gas emissions will stimulate product adoption.
Global industrial boiler market is set to witness robust growth on account of positive outlook toward pulp & paper and primary metal manufacturing industries. In addition, ongoing investment across industrial sector coupled with rising focus toward substitution of conventional heating systems will further drive the product deployment.
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Condensing industrial boiler market is anticipated to witness gains over 4% by 2024. High efficiency, low environmental impact and reduced heating costs are some of the prominent features which make the product deployment preferable over other available alternatives. Rising investment toward substitution of conventional heating units coupled with regulatory policies to reduce carbon emissions will further thrust the product adoption.
175-250 MMBtu/hr boiler market is predicted to grow over 5% by 2024. Ongoing industrial investments toward expansion of refinery & petrochemical industries along with increasing applications of these steam generating units across industries will positively influence the business landscape. For instance, in 2018, Saudi Aramco & Total signed a memorandum of understanding for the construction of a petrochemical complex worth over USD 5 billion in Saudi Arabia.
Browse key industry insights spread across 1779 pages with 3496 market data tables & 74 figures & charts from the report, “Global Industrial Boiler Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-boilers-market
Gas fired boiler market is anticipated to witness growth on account of robust gas infrastructure. Natural gas is considered to be one of the cleaner fuels consumed by industrial sector to meet growing energy needs. Rising investment toward the extension of existing gas supply networks favored by declining fuel prices will further augment the industry growth.
Europe industrial boiler market is predicted to grow over 3% by 2024. Stringent emission norms across the region coupled with implementation of regulatory measures pertaining to industrial pollution will drive the demand for replacement of conventional boilers. In line with the global initiative to reduce carbon footprint, the European Union in 2015, introduced the Eco-design Directive with respect to solid fuel boilers with an aim to minimize the negative environmental impact of GHG emission.
China industrial boiler market in 2017, was valued over USD 2 billion. Indigenous innovation for industrial development coupled with respective government focus toward the advancement of manufacturing facilities will stimulate the industry landscape. Over the years, the country has witnessed considerable shift of industrial facilities from developed economies. As per the World bank, manufacturing value added in 2017 was USD 3.591 trillion as compared to USD 2.935 trillion in 2013, representing a change of 22.3%.
Key industry players operating across global industrial boiler market include Bosch Thermotechnology, Cleaver-Brooks, IHI, Clayton, Fulton, Thermax, General Electric, Bharat Heavy Electricals, Siemens, Cochran, Forbes Marshall, Rentech, Mitsubishi Hitachi Power Systems, AMEC Foster Wheeler, Hurst Boiler, Doosan, Babcock and Wilcox amongst others.
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Browse Related Reports:
- U.S. Industrial Boiler Market Size 2018 – 2024
U.S. Industrial Boiler Market revenue 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 outlook.
https://www.gminsights.com/industry-analysis/US-industrial-boiler-market
- U.S. Commercial Boiler Market Size 2018 – 2024
U.S. Commercial Boiler Market revenue in 2017 was over USD 3,000 million and the annual installation is set to exceed 80,000 units by 2024. Government focus toward improvement of healthcare facilities coupled with investment toward retrofitting of educational establishments will propel the commercial boiler market growth.
https://www.gminsights.com/industry-analysis/US-commercial-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.