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Industrial Boilers are widely utilized in the chemical and pharmaceutical industries, as well as the metal, food and beverage, and mining industries. The boiler business has been adversely damaged by Covid 19. Many boiler maintenance businesses have been unable to conduct maintenance services as frequently as they once did due to severe rules on social separation and lockdowns. Despite these obstacles, some boiler maintenance companies have emerged and are currently offering their services by providing COVID-19 protocols.
Industrial Boiler Market Scope and Research Methodology
The research examines the Industrial Boiler market's trends, projections, and monetary values in depth. The research examines the segments and sub-segments in various regional Industrial Boiler marketplaces in depth. The paper takes a bottom-up method to understanding market size estimates. The services, revenue, financial state, portfolio, growth plans, and regional presence of key market participants and new entrants are all included in the Industrial Boiler Market research. The study forecasts the Industrial Boiler market's size and growth rate, as well as current and future trends.
The Industrial Boiler market study goes into detail on demand projections, market trends, and micro and macro factors. It also examines the factors that are driving and restraining the growth of the Industrial Boiler industry. The report includes both qualitative and quantitative methodologies. The Industrial Boiler market is being researched utilizing SWOT, PESTLE, and Porter's Five Force techniques. The study highlighted significant emerging advancements that are projected to have an impact on Industrial Boiler market demand during the forecast period.
Industrial Boiler Market Report Overview:
The major goal of the SMR's Industrial Boiler Market study is to assist clients in making business decisions, such as determining which areas require improvement, which are already operating well, and assisting new entrants in landing and penetrating the competition. The research also discusses the obstacles that exist in the Industrial Boiler Market.
Industrial Boiler Market size was valued at US$ 14.20 Billion in 2020 and is expected to grow at 5.66% through 2021 to 2027, reaching nearly US$ 20.88 Billion.
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Industrial Boiler Market Regional Analysis:
Geographically, Industrial Boiler market report is segmented into several key regions are as follows,
Industrial Boiler Market Segmentation:
The fire-tube boiler operates at a pressure of up to 20 bar. Because it takes more floor space and cannot handle load fluctuations readily, this type of industrial boiler is only employed in small power plants. Because short tubes can hold high pressure better and are less prone to fracturing and failure, the water-tube boiler portion is better suited to high-pressure steam generation. In 2020, the water-tube boiler sector accounted for 60% of the industrial boiler market. This segment is expected to grow at a 6.5% CAGR over the projection period (2021-2027).
Chemicals and petrochemicals, paper and pulp, food and beverages, metals and mining, and others are the application segments.
The Chemicals & Petrochemicals category is the largest end-use industry in the Global Industrial Boiler Market and is expected to grow further due to rising demand for high-quality steam for chemical production.
Heat or steam was necessary at many stages in the food and beverage industries, including batching, processing, steaming, and cleaning. As a result, installing boilers in F&B establishments has become a requirement, significantly increasing the size of the boiler market.
Condensing boilers are 25% more efficient than non-condensing boilers in terms of technology because condensing boilers collect up to 11% more heat than non-condensing boilers.According to the Energy Saving Trust, the improved efficiency of condensing boilers leads in annual savings of up to $4250.65 USD. As enterprises use boilers on a bigger scale, the condensing boiler industry is likely to develop across the board.
Natural gas is predicted to lead the industrial boiler market in terms of fuel due to its ease of availability and low CO2 emissions. Biomass fuels are made from wood pellets, wood chips, or plant resources.
Industrial Boiler Market Key Players:
Bharat Heavy Electricals
A.O. Smith
Parker
Cleaver-Brooks
Thermax
Weil-McLain
Fulton
General Electric
Babcock and Wilcox
Forbes Marshall
Burnham
Hurst Boiler and Welding
Cochran
DEC
John Wood Group PLC
IHI Corporation
Mitsubishi Hitachi Power Systems, Ltd.
ANDRITZ
ALFA LAVAL
Bryan Steam
Superior Boiler Works, Inc.
Vapor Power
Sofinter S.p.a, AB&CO GROUP
ZOZEN boiler Co., Ltd.
Key questions answered in the Industrial Boiler Market are:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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