Water Tube Industrial Boiler Market Price
U.S. water tube industrial boiler market to witness substantial momentum over 2018-2024, natural gas-fired boilers to experience commendable sales
The rising demand for energy efficient heating systems along with rapid industrialization in developing countries will drive the water tube industrial boiler market size. Boilers, being a critical component in commercial and industrial facilities, have been depicting an increase in demand, on account of the expansion of industrial infrastructure. In addition, the growing initiatives for energy conservation and acceptance of energy efficient steam generating units have been further complementing the growth of water tube industrial boiler market in the years ahead.
U.S. Water Tube Industrial Boiler Market Size, By Application, 2017 & 2024 (USD Million)
The rapid increase in energy consumption by industries globally will augment the demand for low-energy consuming heating systems. Energy consumption, as on today, is one of the most sensitive and complex issues faced by industries across the globe. In some countries, industrial energy consumption differs from 30% to 70% of total energy produce, while the global average stands at 37%. Industries are reportedly seeking energy efficient boiler units for reducing their cost on fuel and environmental footprint, for meeting consumer demands in a cost-effective, environment friendly manner. Experts suggest that, in the United States alone, improving thermal efficiencies of water boilers from 80% to 94% can result in reduction of CO2 emissions from 66.3 to 56.4 kg/MMBtu while using natural gas as a primary fuel.
Reports from the Industrial Boiler-Efficiency Improvement (IBEI) program also suggest that if the average efficiency of industrial boilers was improved from 60% to 70%, around 3 million tons of coal and 5 million tons of CO2 emissions could be saved annually at a cost of less than USD 2 per ton of CO2. Thus, the introduction of strict norms to minimize carbon footprints along with efforts to attain energy optimization across manufacturing facilities can led to an increased demand for energy efficient boiler systems, driving the growth of water tube industrial boiler market.
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U.S. water tube industrial boiler market to witness sizeable growth
The U.S. water tube industrial boiler market will depict a commendable growth over 2018-2024, on account of increasing investment toward expansion of industrial facilities and replacement of conventional steam generating systems. According to the Energy and Environmental Analysis, Inc. (EEA) reports, there are approximately 43,000 industrial boilers in the United States with an aggregate capacity of 1.5 million MMBtu/hr input. The majority of the boilers are located at food, paper, chemicals, refining and primary metal manufacturing facilities.
Incidentally, these industries also account for 92% of the largest boilers (>250 MMBtu/hr). The escalating demand for consumer products coupled with government restrictions aimed at optimizing the country’s manufacturing proficiencies will thus further stimulate U.S. water tube boiler market in the years ahead.
Unveiling natural gas fired water tube industrial boiler market trends
Natural gas makes up 67% of purchased boiler fuel (2,141 TBtu/year). Almost 78% of boiler units and close to 56% of industrial boiler capacity are reported to be natural gas-fired. The chemicals industry alone consumes more than one-third of the natural gas (775 TBtu/year), while other large consumers of natural gas include paper (379 TBtu/year) and other industrial sectors.
Driven by the extensive deployment of natural gas as a fuel and the rising enforcement of regulatory standards encouraging the adoption of low-emission fuels will augment natural gas fired water tube industrial boiler market in the ensuing years. For the record, natural gas fired water tube industrial boiler industry size stood at USD 1 billion in 2017.
Cleaver-Brooks, Thermax, Bosch Thermotechnology, AMEC Foster Wheeler, Siemens, Mitsubishi Hitachi Power Systems, Babcock and Wilcox, Hurst Boiler, Doosan, Forbes Marshall, General Electric, Fulton, and Cochran are some of the major players in the water tube industrial boiler market.
Water tube industrial boilers are mainly installed to produce hot water and steam for commercial or industrial applications across the chemical, food processing, refinery, primary metal and other manufacturing sectors. It is thus rather overt that the developments across the aforementioned industrial domains in tandem with the technological advancements in boiler design will drive the water tube industrial boiler market in the future.
Author Name : Mateen Dalal