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Boiler Market Overview
A prominent trend identified in the global boiler market is the growth of connected controls, which are Wi-Fi accessible and allow the users to remotely monitor and diagnose certain problems. Connected controls are growing in popularity among both consumers and tradespeople. Consumers get additional handling features with these boilers as compared to traditional products and are able to control their heating and cooling from anywhere. Another trend in boiler specifications is the shift toward combi boiler. A standard boiler heats the space, but requires a secondary appliance to deliver hot water. Whereas, the combi system handles both applications simultaneously with the same system, eliminating the need for a secondary appliance, and delivering space heating and hot water to the meet the requirements within one system.
A boiler is an enclosed vessel in which water is heated and circulated, either as hot water, steam, or superheated steam for the purpose of heating, power, or electricity. The boiler market is segmented based on product type, fuel type, application, and end user.
The boiler market based on product type is categorized into fire tube, water tube, and others. Among all products, fire tube boiler dominates the market due to comparatively low initial cost, high fuel efficiency, easy handling, and wide applications in different sectors. Moreover, the water tube category also witnesses significant growth in less capacity section since fire tube and other types of boilers have increased their sizes and capacities to cover the larger capacity section in the market.
The boiler market in terms of fuel type is categorized into solid fuel, liquid fuel, and gas fuel. The gas fuel category holds the significant share in the market due to stringent government regulations in order to protect the environment. For instance, Environmental Protection Agency (EPA) has implemented emission regulations under national emission standard for hazardous air pollutants for major sources: industrial, commercial, and institutional boilers and process heaters. Under these regulations, boilers that burn coal, oil, biomass, or other solid and liquid non-waste materials and are located at commercial (e.g., laundries, apartments, and hotels), institutional (e.g., schools, churches, medical centers, and municipal buildings), or industrial (e.g., manufacturing, refining, processing, and mining) areas are taken into consideration.
The boiler market based on application is categorized into residential and commercial & industrial (C&I). Between these, the C&I category holds the significant share due to vast applications for boiler in various sectors, such as chemical and food & beverages. Further residential application is also increasing on account of growing concern over carbon emissions along with increasing demand for energy-efficient space heating solution.
The boiler market in terms of end user is categorized into power, textile, food & beverages, chemical, oil & gas, and other industries. Among all, the chemical category holds the significant share in the market, owing to large number of deployment of boilers for managing heat requirements in the ongoing operations. Further the low initial cost, operational safety, and low capital outlay have made boilers an important component in chemical production processes.
The global boiler market on the basis of geography is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and the Middle East and Africa (MEA). Among all regions, APAC is expected to hold substantial share in the market, owing to significant growth in chemical, power, food & beverages and other industries in the region mainly in China, India, and Japan. North America is also expected to hold considerable share in the market, owing to rising demand for end-use products. To cater this increase in demand, companies are not only increasing their production capacity but also installing new industrial plant, which, in turn, is boosting the market.
Boiler Market Dynamics
The rising investments in the various industries, such as petrochemical in developing countries, like China and India, boost the demand for boilers. The market is expected to rise further due to growing demand for energy efficient systems that would further complement the business growth. Moreover, growth in food processing industry boosts the growth of the boiler market. Several government initiatives are also driving the market growth in their respective regions. For instance, Government of India provides various tax incentives to the small and medium business players in food processing industry to set up and expand their units.
The stringent regulation enforced by the government authorities on the emission limit is one of the factors that creates hindrance for the growth of the boiler market. Further, high installation cost for the boiler also appears as a restrain to the market growth.
Boiler Market Competitive Landscape
Some of the major companies operating in the boiler market are Babcock & Wilcox Enterprises Inc., Siemens AG, Hurst Boiler & Welding Co. Inc., General Electric, John Wood Group PLC, Bharat Heavy Electricals Limited, Mitsubishi Hitachi Power Systems Ltd., IHI Corporation, Harbin Electric Corporation Co. Ltd., Alfa Laval AB, ANDRITZ AG, Thermax Limited, and Robert Bosch GmbH.
The study provides the detailed historical and future boiler market analyses of countries across the world. The major countries considered for the market size evaluation include the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.
Boiler Market Size Breakdown by Segment
The Boiler Market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product Type
Based on Fuel Type
Based on Application
Based on End User