New York, NY, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Industrial Boilers Market By Fuel (Oil & Gas, Fossil, Non-Fossil, and Biomass) and By Application (Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages, Metals & Mining, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
“According to the research study, the global Industrial Boilers Market was estimated at USD 14.1 Billion in 2019 and is expected to reach USD 19.2 Billion by 2026. The global Industrial Boilers Market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2019 to 2027”.
Industrial boilers are used in a number of industries, including petrochemical, chemical, food & beverage, and power. Boilers generate steam, which is later used in industrial heating processes. Later with the use of pipes, the steam produced in the industrial boiler is transferred to the service area.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Industrial Boilers Market?
2) What is the market size, share of the Industrial Boilers Market?
3) Who are the top market players in Industrial Boilers Market?
4) What will be the future market of the Industrial Boilers Market?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Rising food & beverage industries, petrochemical, and FMCG industries are expected to fuel growth in the upcoming years. Industries like FMCG and food & beverages are expected to grow due to the increasing population and rising disposable incomes, particularly in established regions like Europe and North America. Strict regulations introduced to control toxic air pollution would contribute to the improvement of existing goods, which is expected to further boost the demand. New and enhanced items are also likely to improve industrial boiler adoption over the forecast period.
Top key players of the industrial boiler market are:
Siemens AG, Forbes Marshall, Mitsubishi Heavy Industries, Ltd., Cheema Boilers Limited, AC Boilers, Dongfang Electric Corporation Ltd., Thermax Ltd., Bharat Heavy Electricals Ltd., Babcock & Wilcox Enterprises, Inc., Harbin Electric Corporation, IHI Corporation, and Others.
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On the basis of fuel segmentation, the global industrial boilers market is segmented into non-fossil, oil & gas, biomass, and fossil. Industrial boilers mainly use fossil fuel to operate them. In 2019, fossil fuel had the largest share in the fuel segment for industrial boilers. Large concentrations of harmful gases are released by these. Manufacturers of industrial boilers continuously change their boilers to meet the national emission requirements, which, in effect, boosts demand for industrial boilers. However, biomass fuel is expected to grow at a higher rate in the forecast period. Biomass fuel releases less dangerous gasses into the atmosphere which, particularly in developed economies, is anticipated to boost demand for industrial boilers. Biomass fuel comprises various materials including bagasse, rice hulls, stems from tobacco, and wood. Chemicals & petrochemicals, paper & pulp, food & beverages, and metals & mining are some of the major applications of industrial boilers. In developing countries, especially in China and India, rapidly increasing chemicals & petrochemical industries are expected to have a positive effect on market growth in the upcoming years. Paper and pulp applications are anticipated to grow at a faster pace in the upcoming years owing to rapid industrialization in growing economies such as India and China. Also, the introduction of strict environmental regulations regarding harmful emissions is likely to increase the demand for industrial boilers in pulp and paper applications.
Rising food & beverage industries, petrochemical, and FMCG industries are expected to fuel growth in the upcoming years. Industries like FMCG and food & beverages are expected to grow due to the increasing population and rising disposable incomes, particularly in established regions like Europe and North America. Strict regulations introduced to control toxic air pollution would contribute to the improvement of existing goods, which is expected to further boost the demand. New and enhanced items are also likely to improve industrial boiler adoption over the forecast period.
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The industrial boilers market research report delivers an acute valuation and taxonomy of the industrial boilers industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
Europe dominated the industrial boilers market revenue-wise in 2019. Due to numerous aspects such as rapid industrialization and rising industries like food & beverages, electricity, and FMCG, the area is anticipated to dominate the industry. Besides, strict regulations developed by the European Union regarding harmful environmental emissions are expected to fuel demand for industrial boilers. Due to environmental regulations, a growing market for food items, and the production of mega-electric products, Asia Pacific was the second-largest market of industrial boilers in 2019. In developing economies such as India and China, mega power projects are anticipated to drive the Asia Pacific market.
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This report segments the industrial boilers market as follows:
Global Industrial Boilers Market: By Fuel Segmentation Analysis
- Oil & Gas
- Fossil
- Non-Fossil
- Biomass
Global Industrial Boilers Market: By Application Segmentation Analysis
- Chemicals & Petrochemicals
- Paper & Pulp
- Food & Beverages
- Metals & Mining
- Others
Key Recommendations from Analyst
- As per our analysts, growing food & beverages, FMCG, and petrochemical industries are expected to boost industry growth over the forecast period
- Rapidly growing petrochemical industries in developing economies including China and India are likely to boost the demand for industrial boilers
- Paper & pulp application segment is anticipated to grow at the fastest CAGR over the forecast period
- Strict standards imposed to regulate harmful emissions in the air will result in the enhancement of existing products, which is further expected to boost the market
- Biomass fuel segment was the second-largest segment in 2019 and is expected to witness the highest growth rate over the forecast period
Browse the full “Industrial Boilers Market By Fuel (Oil & Gas, Fossil, Non-Fossil, and Biomass) and By Application (Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages, Metals & Mining, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/industrial-boilers-market-by-fuel-oil-gas-fossil-969
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