Industrial Boilers Market was worth USD 12 billion in 2021 and is projected to grow at a CAGR of 6.87%, to reach USD 16.73 billion by 2026. Regulations imposed by the foremost environmental regulatory bodies encourage numerous industries to check their emissions. As an end result, companies are implementing measures to generate energy with decreasing emissions. Measures towards strength optimization coupled with increasing adoption of energy efficient heating systems will propel the Industrial boilers market. In November 2015, European Union introduced Directive (European) 2015/2193 with an intention to reduce emissions from combustion devices.
Industrial Boilers Market Drivers:
The development of ultra-mega power projects in emerging economies will drive the growth prospects for the global commercial boiler marketplace over the next few years. The use of new materials in biomass beds now not only increases the performance of the waste but additionally reduces the value of biomass boilers. Also, the distribution of oxygen in the boiler will enhance the performance and uniformity of combustion.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 – 2026 |
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Base Year |
2020 |
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Forecast Period |
2022 - 2027 |
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CAGR |
16.73% |
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Segments Covered |
By Type, Application, Product, Fuel and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Babcock & Wilcox Enterprises, Inc. (U.S.),Dongfang Electric Corporation Ltd. (China),Siemens AG (Germany),General Electric (U.S.),AC Boilers S.p.a. (Europe),Bharat Heavy Electricals Limited (India),Harbin Electric Group (China),IHI Corporation (Japan),Mitsubishi Hitachi Power Systems, Ltd. (Japan),Thermax Limited (India) and Others. |
The Industrial Boilers Market is segmented and sub-segmented into following categories:
Fire Tube
The Market is Geographically divided into:
North America leads the Industrial Boilers market due to the presence of large number of companies in the industry and increasing investments from government. Asia Pacific is the fastest growing market segment due to the growing petrochemical industries and increasing collaborations with western companies in countries such as India and China.
Key Players:
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