Industrial Boilers Market to Reach USD 17.77 Bn by 2026, Says M&M in Its New Research Study Recently Uploaded at MarketPublishers.com05 Jan 2017 • by Natalie Aster
LONDON – The market for industrial boilers is forecast to expand from USD 10.92 billion in 2016 to amount to USD 17.77 billion by 2026-end posting a 5% CAGR. The surging demand for pollution-free energy sources, soaring number of natural power factories, and government incentives to push forward clean energy and reduce reliance on fossil fuels act as major factors expected to stimulate the expansion of the industrial boilers market.
Nevertheless, elevated prices for boilers are set to curb the growth of the industrial boilers market.
Regarding the fuel types, the natural gas & biomass segment dominated the market for industrial boilers, as most end-use industries, like primary metal, chemical, and food utilise natural gas as their primary fuel. The segment’s growth is also attributed to the fact that natural gas and biomass boilers are stepwise substituting coal-based boilers across developed regions, due to lower operating expense of using natural gas as against other fuels.
North America’s industrial boilers sector is projected to see the highest growth to 2026. The soaring demand for energy and fast-paced installation of a number of power plants has resulted in higher demand for industrial boilers across the region.
General Electric, Babcock & Wilcox Enterprises, Inc., Siemens AG, Harbin Electric Group, IHI Corporation, Thermax Limited, among others, are amid the dominant players in the market.
New research report “Industrial Boilers Market” elaborated by M&M is an insightful source of the up-to-date information on the world industrial boilers market space.
The research report offers data on the market size, shares; provides detailed market segmentation on the basis of type, fuel type, boiler horsepower, end-use sector, and by region. The study covers the market growth driving and limiting factors, challenges and opportunities; highlights hot market aspects and burning issues. The report also includes all-round profiles of 21 dominant market players and scrutinises the overall competitive landscape. Furthermore, exhaustive forecasts of the market development up to 2026 are provided.
Please follow the M&M catalogue at MarketPublishers.com to find other new reports prepared by the publisher.