ENERGY

Demand for clean energy to spur petroleum coke market growth over 2017-2024, India to be a chief revenue pocket

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The pressing need to reduce the dependency on fossil fuels and the increasing demand for clean fuel is set to stir up Petroleum Coke Market demand in the coming years. Petroleum coke, also known as petcoke, is usually used as a carbon or a source of energy in industrial applications. The high calorific value, and high carbon & low ash content of petroleum coke makes it quite preferable when compared with other available counterparts. Owing to these characteristics, petcoke is being increasingly used as a low-price alternative to coal, finding a plethora of applications in in coal-fired power plants.

U.S. Petroleum Coke Market Size, By Physical Form, 2016 & 2024 (TMT)

U.S. Petroleum Coke Market Size, By Physical Form, 2016 & 2024 (TMT)

Presently, the petroleum coke market size is proliferating phenomenally, subject to the rising demand for fuel grade coke in the industrializing economies of Asia Pacific. India and China are likely to experience sizable growth pertaining to petroleum coke industry share, owing to the rapid commercialization and the unprecedented demand of power in these countries. As per the report, India petroleum coke market is pegged to witness lucrative growth avenues, subject to growing demand for coke from cement and aluminum industries across the region. The surging measures to reduce the dependency on coal, and replace it with petcoke is set to amplify the regional industry share. Estimates claims that petroleum coke market demand in the country will register an annual growth rate of 8% over coming seven years. According to the recent statistics compiled by the Ministry of Petroleum and Natural Gas, India is the second largest petroleum coke consuming country in Asia, after China. The annual consumption of petcoke in India is around 14 mnt and the product in the region is however at 12 mnt, which also indicates the supply demand gap in this region.

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In contrast, the environmental concerns and pollution-causing traits due to growing industrialization is in a way affecting the growth of petroleum coke market. Stringent governmental regulations to reduce carbon emissions have made negative impacts on the use of petroleum coke. Nevertheless, to counter this, petroleum coke industry players are engaging in gasification of petcoke, which will lead to the production of clean power. This economical, efficient, and environmentally safe utilization of petcoke has become imperative in the present-day petroleum refining scenario. In regard to this, the gasification process of petroleum coke has emerged as one of the most popular options and is gaining mass popularity as a viable option to convert the petcoke to clean value-added products. The recent deal of Reliance Industries (RIL) and the British energy major BP jointly investing USD 6 billion (Rs 40,000 crore) in commercial gas production and across the entire energy value chain in India, is one such instance quoting the active involvement of industry participants in enhancing the energy value chain. The company’s petcoke gasification project of Jamnagar, touted as the largest petcoke gasification project in the world, is in its advancing stage and is set to ensure energy efficiency by converting petcoke into high-value fuels.

Considering the application scope, power plants, steel, cement, and aluminum industries are the predominant end-users of petroleum coke market. Amongst these, power plant application is one of the leading segments, accounting for more than 18% of overall petroleum coke industry share in 2016. Cement industry is another lucrative end-user that is poised to witness rapid growth in the coming seven years. Owing to petcoke’s low freight costs and better resource conservation ability, petroleum coke industry is likely to witness remarkable growth avenues in the ensuing years. As per a report compiled by Global Market Insights, Inc., the global petroleum coke market size was worth USD 11 billion in 2016 and is projected to surpass USD 25 billion by 2024. Furthermore, the industry analysts have also estimated the total annual capacity to outdo 190 MMT by 2024.

The major companies partaking in petroleum coke industry share include Saudi Aramco, BP, ExxonMobil, Essar Oil, Indian Oil, Royal Dutch Shell, Bharat Petroleum, Husky Energy, and Marathon Petroleum, Reliance, Aminco Resources, and HPCl-Mittal Energy.

Author Name : Ojaswita Kutepatil

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Gas Pipeline Infrastructure Market to garner a groundbreaking valuation of more than USD 2 trillion by 2024

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Gas pipeline infrastructure market has been gaining considerable traction across myriad geographies, pertaining to the developments in distribution and transmission systems coupled with the growing popularity of natural gas as an alternative fuel. Natural gas is being considered as a viable alternative to coal fired power plants, considering its benefits of cost-effectiveness and ample availability. In this regard, an increase has been observed in the number of natural gas fired plants, which would ultimately propel gas pipeline infrastructure industry share.

U.S. Gas Pipeline Infrastructure Market, By Operation, 2016 & 2024 (‘000 Kilometers)
U.S. Gas Pipeline Infrastructure Market, By Operation, 2016 & 2024 (‘000 Kilometers)

In recent times, it has been observed that regional governments have been promoting excavation and exploration activities on a large scale to overcome the dependency on fossil fuels. For instance, reputed oil giant Royal Dutch Shell has been involving itself in a plethora of projects for natural gas exploration across the United States. Even the U.S. government is installing pipelines to transport natural gas from its origin to various intra and interstate regions across the country, which would subsequently boost U.S. gas pipeline infrastructure industry size. For the record, gas pipeline infrastructure market held a mammoth revenue of USD 1 trillion in 2016.

Major players partaking in gas pipeline infrastructure industry share have been increasingly investing in power and gas pipeline infrastructure to combat the shortage of electricity across various regions of the globe. Royal Dutch Shell has recently signed an agreement with Nigerian company to develop a gas pipeline infrastructure in the country. Under this 300-million-dollar agreement with Nigerian Shoreline Energy, Shell plans to develop and distribute natural gas around Lagos, the commercial capital of Nigeria. This deal provides an opportunity to Shoreline to expand its gas business post the financial downturn witnessed across Nigeria. The gas pipeline infrastructure market giant will also assist Shoreline to develop a distribution and transmission pipeline network. This strategic partnership has been touted by experts to bring about a massive change of dynamics in Africa gas pipeline infrastructure market size. The African governmental sector is leaving no stone unturned either, for the development of gas pipeline infrastructure industry in the continent. In 2016, for instance, Sonatrach, the Algerian government owned oil & gas company declared an investment of USD 3.2 billion over four years to improve the pipeline capacity in the country. In fact, as per estimates, the gas pipeline infrastructure industry size across Algeria will grow at a CAGR of more than 6% over 2017-2024.

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The increasing demand for electricity across the commercial, industrial, and residential sectors has prompted various governmental bodies to increase their investments in gas pipeline infrastructure market. For example, considering the future demand for natural gas, the Indian government formulated the “Vision 2030” to develop natural gas infrastructure in India under the guidelines of Natural Gas Regulatory Board (PNGRB). India has been experiencing an increase in the demand for natural gas since the last few years, owing to rise in its popularity as a convenient alternative fuel, its ample availability, and cost-effectiveness. Furthermore, the growing investments in infrastructure to import LNG and transport domestic gas are certain to influence India gas pipeline infrastructure market share positively.

Taking into account the future scope of natural gas and rising demand for new infrastructure, companies in gas pipeline infrastructure market have been establishing long-term partnerships with governmental bodies. Speaking of which, some of the renowned names in gas pipeline infrastructure industry fall along the likes of Gazprom, General Electric, Enbridge, Redexis Gas, Europipe, CRC-Evans Pipeline International, DCP Midstream, National Oilwell Varco, APA Group, MRC Global, Snam Rete, Welspun, Engas, Technip, Perusahaan Gas Negara, GAIL, Chelpipe, and Saipem.

Growing technological advancements in hydraulic fracturing and hydraulic drilling are certain to bring about a rise in the number of excavation activities across the various regions of the globe, which would collectively result in an increase in the availability of natural gas. The surging use of natural gas in the electric power sector is another factor that is likely to boost gas pipeline infrastructure market size, slated to surpass around 8 million kilometers by 2024.

Author Name : Sunil Hebbalkar

Waste Heat to Power Market to witness appreciable gains from cement sector, Global revenue to surpass USD 30 billion by 2024

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The rapidly declining rate of fossil fuels have necessitated the requirement to unearth other ways for energy recycling. Waste Heat to Power Market is expected to carve out a profitable growth path, subject to this very factor. This business space is touted to bring to fore, the latest clean energy solutions that would help resolve the energy crisis. The rise in carbon dioxide emissions due to industrialization has led to the adoption of low carbon energy sources, which would provide a boost to waste heat to power industry. The increasing awareness regarding the importance of renewable energy sources is another determinant that is projected to impel waste heat to power market. While solar and wind power are rather economic options for emission free energy generation, waste heat to power seems to be a more viable choice, especially when the power producing capacity of both the categories are considered. The capability of waste heat to power technology to convert exhaust heat to electricity without any emissions or fuel usage is the most essential factor that will stimulate waste heat to power industry share. For the record, worldwide waste heat to power market size was pegged at USD 11 billion in 2016, as per a report released by Global Market Insights, Inc.

  U.S. Waste Heat to Power Market Size, By Application, 2016 & 2024 (USD Million)
     U.S. Waste Heat to Power Market Size, By Application, 2016 & 2024 (USD Million)

The industrial sectors across various regions of globe have been massively deploying the byproducts obtained from industrial processes, for generating energy. In fact, it has been observed that various American manufacturing and oil & gas companies have been already deploying the waste heat generated from various industrial processes for electricity generation. Such initiatives are certain to deliver benefits such as low cost and emission free energy to the American behemoths. In addition, industrial users have the alternative to implement this power in various applications or sell it to power grids, which would invariably influence waste heat to power market size.

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The last few years have witnessed the deployment rate of WHP (waste heat to power) systems in several industrial sectors, particularly across the geothermal domain. In order to install WHP systems, companies in waste heat to power industry have been primarily focusing on various technologies such as organic rankine cycle, stirling engine, team turbine technology, supercritical technology, and the like. The Organic Rankine Cycle (ORC) technology, it is reported, is extremely capable of capturing low temperature resources, subject to which companies across the United States have been giving preference to this technology on a large scale. Research estimates in fact, claim that waste heat to power market from organic rankine cycle technology will record an annual growth rate of more than 17% over 2017-2024. The significant characteristics of ORC such as ease of compatibility with different kinds of heat sources, lower space requirement, and low maintenance cost will boost the demand for the product in waste heat to power market.

Renowned biggies in waste heat to power market such as ElectraTherm, Thermax, Echogen Power Systems, Siemens, Amec Foster Wheeler, Triogen, Cyplan, ABB, Enogia SAS, Mitsubishi, Kalina power, Ormat Technologies, and AQYLON are increasingly focusing on the development of products that sync with the customer’s point of view.  Also, they have been involved in developing advanced technologies to attract more customers and expand their consumer base. For instance, in 2014, the America based leader in advanced power generation technology, Echogen Power Systems launched a new heat engine system focusing on requirement of consumers in the marine, power generation, and oil & gas sectors. Considering the adoption rate of this technology, it can be aptly stated that WHP systems may evolve as one of most lucrative technologies in the renewable energy space. Adhering to the same, Global Market Insights, Inc., has estimated that, by 2024, waste heat to power industry will surpass a revenue collection of USD 30 billion.

Author Name : Sunil Hebbalkar

Europe Residential Boiler Market to witness commendable gains over 2017-2024, driven by a favorable framework promoting energy-efficient heating systems

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Growing inclination toward energy-efficient heating systems across domestic arena is likely to bring a new dimension in residential boiler market trends. It has been observed that residential heating sector accounts for a major portion of GHG emission and carbon footprints at a global scale, a factor that has profoundly acted in favor of residential boiler market penetration across developing economies. This can be quite evidenced by the Environmental Protection Agency report in 2015, which claimed that U.S. commercial and residential sector together accounted for almost 12% of the overall GHG emissions in that particular year. In response to this environmental call, a plethora of codes and standards have been implemented worldwide toward sustainable heating technologies, which by extension has fueled residential boiler industry demand. As per a report put forward by Global Market Insights Inc., the overall industry is set to hit an annual installation capacity of 10 million units by 2024.

 

U.S. Residential Boiler Market Size, By Technology, 2016 & 2024 (USD Million)
U.S. Residential Boiler Market Size, By Technology, 2016 & 2024 (USD Million)

 

A stringent regulatory landscape speaks volume and has contributed immensely in the remodeling of residential boiler market dynamics. Despite the fact that these regulations refer to U.S. alone, the impact of these standardization has been observed at a global scale. The U.S. ECPA (Energy Policy and Conservation) Act of 1975 imposed energy conservation standards on various consumer products including residential boiler. As per the amendment, the U.S. (DOE) Department of Energy periodically updates the energy efficiency standards and consumer guidelines pertaining to residential boilers. In fact, as per the recent norms, all gas fired hot water boilers that are manufactured between the period 1st Sept 2012 to 15th January 2021 must have a minimum AFUE (Annual Fuel Utilization Efficiency) of 84%.  Speaking along the similar lines, natural gas fueled residential boilers accounted for 50% of the overall residential boiler industry share in 2016.

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Ongoing investments toward residential construction along with increasing demand for energy efficient space heating system across major economies have proliferated residential boiler market outlook. In 2016, China invested around USD 1 trillion in the residential building sector.  In addition to this, the Chinese government’s increasing initiative toward establishing zero emission buildings will finally lead to a replacement of traditional heating systems with efficient residential boilers, which in no surprise will impact the regional residential boiler market size.

Taking into account the European government’s favorable energy efficient retrofitting policies toward refurbishment of traditional heating units, it is certain that Europe will also turn out to be a strong contender in the global residential boiler industry over the coming years. Under the scheme, landlords are provided 10% grant for deploying oil and gas fired condensing boilers in their residential complex.  In the year 2015, renovation, maintenance, and refurbishment activities almost accounted for 60% of the overall residential spending across European belt, another statistic that is shedding a positive light on the regional residential boiler market outlook. With Germany covering 14% of the regional share in 2016, Europe residential boiler market is expected to witness substantial growth in the coming seven years.

As per a report compiled by Global Market Insights, Inc., the overall residential boiler market will exceed USD 12 billion by the end of 2024. Continuous product innovations by the leading giants along with a strong regulatory groundwork are sure to bring a renewed dimension in the residential boiler industry outlook.  In addition, increasing number of government initiations toward sustainability trends and expansion in the residential construction sector is certain to contribute toward the overall business growth. Some of the prominent participants involved in this space include AC Boilers, Lennox, NTI Boilers, Bosch, Weil-McLain, HTP, Viessmann, and Parker Boiler.

Author Name : Satarupa De

China ring main unit market to garner substantial revenue by 2024, governmental initiations in micro-grid network expansion to stimulate the business growth

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Ring main unit market has indeed brought a revolution in the global electricity business space over the past few years, primarily on account of the growing uninterrupted power supply demand across the globe. The International Energy Agency (IEA) in its 2011 report on ‘World Energy Outlook’ depicted that global power demand is expected to reach around 30,300 TWh by 2035, with an increment of 2.2% per year over 2008-2035. It has also been claimed by the experts that developing economies will account for 80% of the power demand, subject to the surging population curve, urbanization, economic development and favourable initiatives by intergovernmental organizations in these regions. This projected statistic affirms that maintaining efficient power distribution network will turn out to be a mandate in the coming years, the fundamental factor that will allow a mass popularity to ring main unit market.

Europe Ring Main Unit Market Size, By Insulation, 2016 & 2024 (‘000 Units)
 Europe Ring Main Unit Market Size, By Insulation, 2016 & 2024 (‘000 Units)

Ring main unit is basically an integral part of secondary distribution system, that offer undistorted power supply even during technical hitches in the main power supply source through alternative links. Boasting a diversified application landscape, Ring main unit market has penetrated across hotels, tunnels, airports, underground railways, distribution utility network, residential housing complex, and hospitals. Enrolling its name in the billion-dollar business fraternity, global ring main unit industry held a revenue of USD 1.5 billion in 2016.

Increasing investments in large scale renewable energy projects along with rigorous ongoing efforts toward the expansion of micro-grid network have significantly impelled ring main unit market commercialization. On account of the renewable energy target pledged by 175 countries in 2015 UN Climate Change Conference, ring main units have observed a steep growth in demand. Recently, Western European countries that include Sweden, U.K., and Germany have announced a collaborative financial investment of USD 133.7 billion in the smart grid network expansion across the nations by 2027. It goes without saying that such governmental initiations worldwide toward modernization of electric grid network will enhance ring main unit industry outlook.

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The contribution of Chinese government in the establishment of ring main unit market has also been commendable. In 2017, the National Energy Administration have declared an investment of USD 326 billion by 2020 for the expansion of renewable energy network across China. This electrification programs necessities large scale deployment of ring main units, which ultimately boosts the regional ring main unit market size. As per the estimates, China ring main unit market is slated to exceed USD 300 million by the end of 2024.

The overall ring main unit industry, as per a recent report put forward by Global Market Insights, Inc., will cross USD 3 billion by the end of 2024. As the critical need for effective power supply continues to surge, industry players have been continuously facing challenges to supply power at reduced cost and exceptional efficiency. The escalating demand has necessitated diversification and innovation in the product portfolio amidst the fierce competition in the ring main unit market. Leading companies partaking in the ring main unit industry have been also supporting governments to tackle the issue of uninterrupted power supply by bringing innovative products.

For instance, Schneider Electric, a universally acclaimed name in the ring main unit industry has introduced RM6, an all-in one compact unit that enable supply, protection, and connection of transformers in a ring network. Pertaining to its immense efficiency, this product gained a huge popularity across various end-use domains. Some of the other biggies in the industry include ABB, EATON, General Electric, Lucy Electric, and Larsen & Turbo. With increasing number of R&D activities to innovate novel products, ring main unit industry is set to gain a huge traction in the coming years, with an estimated overall installation of 400’ 000 units by 2024.

Author Name : Satarupa De

Carbon Capture and Storage Market to gain prominence with the rising concerns over environmental degradation, Supportive regulatory framework to propel growth

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Carbon Capture and Storage Market is witnessing a rather commendable profitability landscape as concerns over global warming have triggered efforts to reduce CO2 concentration in the atmosphere. Capturing and storing carbon dioxide is considered a vital strategy for meeting the targets to reduce CO2 emissions and sustain in scenario of global climate change. As per statistics, carbon dioxide has become a key business liability that is expected to decrease a firm’s value by USD 212,000 for every 1000 metric tons produced. However, the use of carbon capture and storage (CCS) technology is one of the novel ideas that help to reduce the amount of CO2 released in the atmosphere specifically by fossil fuel-dependent industries. With the help of CCS technology, it is possible to capture around 85% to 90% of carbon dioxide emissions released from industries, which in turn is stimulating carbon capture and storage industry expansion.

  North America Carbon Capture and Storage Market, By Technology, 2016 & 2024 (MTPA)
  North America Carbon Capture and Storage Market, By Technology, 2016 & 2024 (MTPA)

Rapid industrialization and economic growth have certainly contributed to today’s ever rising demand for energy across the globe. A clear consequence of this is an increase in the use of fossil fuels such as natural gas, coal, and oil that have become a key source of energy since the industrial revolution. In response, the abundant use of these fuels has become a cause of concern globally, subject to their adverse effects on the environment. Over the past century, the level of atmospheric CO2 has raised to more than 39%, from 280 ppm in the pre-industrial time. Moreover, the statistics provided by the Emission Database for Global Atmospheric Research shows a 48% increase in last two decades by recording the global CO2 emission of over 33.4 billion tons in 2011. Thus, the CCS technology is likely to play a crucial role, as without climate change mitigation regulations & policies it is estimated that the CO2-equivalent concentrations in atmosphere will grow to as much as 600-1550 ppm by 2030. In repose to this fact, stringent government regulations to curb GHG and CO2 emissions will stimulate the carbon capture and storage market growth over the coming years.  As per a report by Global Market Insights, Inc., carbon capture and storage market stood at USD 2.5 billion in 2016 and is projected to surpass USD 6 billion by 2024. Moreover, considering the cumulative capacity of carbon capture and storage industry, industry analysts estimates the volume to exceed 103 MTPA (million tons per annum) by 2024.

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Taking into account the application landscape of carbon capture and storage market, the oil and gas industry accounted for a major share. One of the significant factors that will fuel the carbon capture and storage market demand in this segment is the usage of CO2 by O&G companies to refill the gas pressure and renew the production volume in wells. Rising crude oil demand coupled with increasing investments in expanding and upgrading of oil refineries is set to favor carbon capture and storage industry growth. As per records, in 2016, the oil and gas industry application contributed to more than 45% of the overall carbon capture and storage market pie and is foreseen to record lucrative growth in coming years. The other application segments of carbon capture and storage industry including chemical processing, iron and steel, and power generation are also likely to witness significant growth in the coming years.

From the above-mentioned data, it is quite evident that if climate change and global warming is to be successfully tackled, these application sectors will need to transform the way energy is used and thus reduce CO2 emissions. The global carbon capture and storage industry is anticipated to witness remarkable traction as the CCS technology has been identified to be the only large-scale option that can meet the high targets of CO2 reduction necessary to meet the climate control goals by 2050.

Mitsubishi Heavy Industries, Siemens, Sulzer, General Electric, Linde Engineering, NRG energy, ExxonMobil Corporation, Schlumberger, and Aker Solution are some of the prominent players accumulating significant chunk of carbon capture and storage industry.

Author Name : Ojaswita Kutepatil

Global Industrial Boiler Market to generate considerable revenue from food processing application, water-tube based product to witness significant gain over 2017-2024

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Global industrial boiler market has been garnering popularity across myriad end-use sectors including chemicals, food processing, and hospitals, subject to the fact that they are increasingly adopting energy efficient heating systems. It has been observed that of late, major companies in the food processing sector have been adopting green energy production systems to reduce carbon dioxide emissions, as fossil fuel based heating systems lead to a hazardous impact on the environment. The growing implementation of boilers for various industrial applications is likely to influence global industrial boiler industry share. This evident from the forecast estimates – as per a market research study, global industrial boiler market held a revenue of USD 4 billion in 2016 and is poised to achieve commendable heights of growth ahead.


Europe Industrial Boiler Market Size, By Application, 2016 & 2024 (USD Million)
Europe Industrial Boiler Market Size, By Application, 2016 & 2024 (USD Million)

Apart from food processing industry, paper manufacturing companies have also been undertaking initiatives to reduce carbon emissions in the environment. A recent news snippet elucidates how Smurfit Kappa – an Austria based giant in the paper-based packaging business, invested around EUR 134 million in the refurbishment and installation of a new boiler and steam turbine system to reduce emissions. The escalating rework and renovation activities across various application sectors such as chemical, paper and pulp, food processing, and refineries for the installation of advanced boilers are thus, likely to stimulate global industrial boiler market over the years ahead.

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Regional governmental bodies have been implementing favorable initiative to promote green energy adoption by deploying strict rules and regulations with regards to boiler installation and the replacement of existing units with new energy efficient heating systems. In December 2016, the EU approved a new directive [(EU) 2015/2193] to reduce transboundary pollution as well as background concentration across Europe. To comply with regulatory norms, various industry players are installing natural gas based boilers on a large scale. Perhaps on account of the same, natural gas based industrial boiler market covered 25% of the overall share in 2016.

Another instance in recent years that demonstrates the developments in global industrial boiler market is the 2015 United States Climate Change Conference held in Paris regarding greenhouse gas emissions and the rise in global temperatures. After this conference, it has been observed that many companies have undertaken appreciable initiations to minimize the carbon content in the environment, which has favorably stimulated global industrial boiler industry size.

Major corporations in global industrial boiler market headquartered in North America have been heavily investing in the renovation and upgradation of existing heating systems. In 2016, the U.S covered more than 80% of North America industrial boiler market share. Consumers across the U.S. are shifting their focus toward the usage of natural gas based products instead of fossil fuel pertaining to the cost effectiveness. Furthermore, favorable initiation taken by U.S. government to control carbon footprints is slated to boost industrial boiler industry share over the years ahead.

Speaking of the competitive landscape, it is noteworthy to mention that prominent players in global industrial boiler industry are General Electric, Bharat Heavy Electricals, Cleaver-Brooks, Mitsubishi Heavy Industries, Forbes Marshall, Thermax, Cochran, Fulton, Clayton, Doosan Corporation, Parker Boilers, Hurst Boiler and Welding, Saudi Boilers, and Babcock & Wilcox.

In a recent development, in Bahrain, GE deployed mobile water technology to provide high purity boiler feed water to be used in refineries. Bapco (Bahrain Petroleum Company) is using this technology for boiler feed water at its Awali refinery. The increasing demand for such mobile desalination units from various refineries across Bahrain will influence global industrial boiler market size positively.

Most of the giants in global industrial boiler market are focusing on research and development activities to design high efficiency hot water systems for various sectors. Also, it has been observed that they are looking forward to increasing the cost-effectiveness of the product to attract a wider consumer base. The commendable efforts undertaken by various firms is certain to impel global industrial boiler market, projected to surpass a revenue collection of USD 6 billion by the end of 2024.

Author Name : Sunil Hebbalkar