Escalating demand for hot water and steam across commercial and residential establishments will drive the U.S. Boiler Market outlook. The region has been witnessing growing investments toward modernization and replacement of the aged-out boilers owing to increasing carbon footprint. The new generation boilers are designed to follow the improving emissions standards which will create novel growth opportunities for the industry players in the coming years. For instance, Environmental Protection Agency has introduced National Emission Standards to reduce hazardous air pollutants emitted from the commercial and industrial facilities.
A boiler allows the utilization of a varied number of fuels such as natural gas, peat coke, coal, oil, and wood chips, thus providing high flexibility favoring the product adoption. The closed vessel design of the product eliminates the chances of water evaporation, assisting in achieving required pressure for steam generation on a larger scale. The hot water and steam are then carried out through separate pipelines to multiple household, commercial and industrial equipment for heating or any other required purposes.
Increasing efforts for curbing carbon emission given the rising environmental hazards will drive the U.S. boiler industry trends. The regional government is focusing on development of zero emission buildings for large facilities such as offices, educational institutes, and hospitals in order to cut down energy related emissions. Such advancements in reducing emissions at the root level will necessitate implementation of sustainable technologies.
Furthermore, the U.S government has launched National Action Plan to achieve energy optimization across multiple public & private sectors. Introduction of additional energy efficiency polices & regulations in the upcoming years will accelerate demand for low emission boilers further stimulating the U.S. boiler market trends.
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Considering the capacity spectrum, U.S. Boiler Market from 100-250 MMBtu/hr capacity segment is experiencing increasing demand from the refineries on account of the ongoing extension projects. For instance, in January 2019, Exxon Mobil declared the expansion of its refineries in Beaumont, Texas, US, which involves construction and installation of new pipes, and boilers in the refining facility.
The company aims to gradually increase the crude refining capacity by more than 65 percent to achieve 250,000 barrels per day. Ever-increasing demand for refined petroleum products will provide a positive outlook for the U.S boiler market growth.
Robust product deployment across food processing, textile industry, pulp & paper, and metal smelting industries for cleaning, heating, cooling, and humidification purposes will drive the application share. U.S is one of the top three paper producing countries of the world and also is the leading exporter. The U.S. paper industry accounted for 96.1 billion U.S. dollars in 2015, claims an estimate by Statista. Since the process of paper manufacturing deploys steam heated cylinders to form flat paper sheet, the U.S. boiler market will generate significant revenues from the pulp & paper application.
The food industry requires heat at every stage of the process. It can be either direct heat or heat from the hot water or steam which is extremely essential for food processing. Considering the beverage industry, steam is used for cooking, drying, and warming, and also for generalized cleaning purposes in the processing plants. Application of steam eliminates the microbiological risk in food which should augment the U.S. boiler market share from food processing application.
Owing to widespread product applications, the U.S boiler market will witness significant gains during the forecast timeframe. Moreover, the manufacturers in the region are heavily investing on technological upgradation of the heating technologies of the product aiming to improve operational performance, further propelling the industry size over the forecast timeline. According to the latest study by Global Market Insights, Inc., U.S. Boiler Market size will exceed USD 4.5 Billion by 2025.
Author Name : Amol Kothekar
China to drive global boiler market over 2017-2024, natural gas assisted boilers to observe appreciable sales
Shifting trends toward the adoption of sustainable energy sources will be essentially responsible for the commendable growth of global boiler market. To fulfil the escalating need of energy pertaining to growing industrialization and urbanization, various government organizations are investing heavily in the development of power plants, which will generate lucrative opportunities for major corporations. The adoption of boilers will lead to a major reduction in the dependency on fossil fuel based energy generation, and will eventually lead to the lowering of carbon footprints and GHG emissions. This reduction is likely to stimulate Global boiler industry share, which, as per estimates, had generated a revenue of USD 37 billion in 2016.
Europe Boiler Market Size, By Application, 2016 & 2024 (USD Million)
Various countries across the globe are implementing action plans to increase the production of green energy. Germany has become the first country in the world to implement a climate action plan in November 2016. Through this action plan, the nation aims to reduce GHG emissions to zero by 2050. Rather than the energy sector, they have been emphasizing on the agricultural and automotive sectors to adopt advanced technology to reduce GHG emissions. To comply with government regulations, automakers across this region have already commenced research and development in the production of electric batteries and solar based vehicles. Estimates claim that in 2016, Germany had covered more than 15% share of Europe boiler industry.
In the future, natural gas based power plants will serve as new avenues for global boiler market investors. The increasing number of natural gas producers, mainly across the U.S. are likely to favor the increasing demand for natural gas over the years ahead, subject to the reduced prices of natural gas as compared to coal. Recently, a U.S. energy company has decided to supply one third of Ireland’s natural gas requirement, which equates to around EUR 300 million of shipments per years. As per statistics, more than 50% of the power plants were based on natural gas in 2016, which will significantly boost global boiler industry share over the coming timeframe. The adoption rate of natural gas based power plants is increasing enormously, owing to the easy storage, ample availability, and low emissions.
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The deployment of stringent rules and regulations to control the hazardous gas emissions have forced various industrial sectors to renovate their aging power generation systems – those which are primarily responsible for the emission of these gases. A range of firms have undertaken strict initiations to replace outdated boiler plants with energy efficient and eco-friendly boiler systems. Additionally, even educational institutions also have taken initiatives to replace aging boilers. Recently, the 5-decade-old Barton Community College had decided to replace a boiler with three small, high efficiency boilers, which are predicted to save 30% of costs. Subject to the increasing use of boilers for energy generation across the hospitality, healthcare, and educational sectors, global commercial boiler industry size is expected to surpass a revenue collection of USD 6 billion by 2024.
China has been investing heavily into healthcare infrastructural development lately, and as per the reliable sources, the government of China invested around USD 180 billion in healthcare sector in 2016. The same year witnessed China accounting for 35% of the revenue contribution of APAC boiler market. This region fuels the requirement of energy efficient heating systems, due to the thriving industrialization and urbanization. The giants in boiler market plan to develop energy efficient heating systems to enhance the overall energy grid. In addition, numerous research organizations are also continuously involved in the exploration of biomass fueled boiler systems. Speaking of which, some of the key participants in global boiler market include Thermax, Bharat Heavy Electricals, Weil-McLain, Parker Industrial Boiler, A.O. Smith, Wilcox, Cleaver-Brooks, Forbes Marshall, Hurst Boiler and Welding, Fulton, and Burnham Commercial.
Author Name : Sunil Hebbalkar