Pune, Sept. 24, 2020 (GLOBE NEWSWIRE) -- The increasing development of power plants is propelling the growth of the global Industrial boilers market, says fortune business insights in a report, titled “Industrial Boilers Market Size, Share and Global Trend by Type (Fire-tube, Water-tube), By Function (Hot Water, Steam), By Fuel Type (Natural Gas & Biomass, Oil, Coal), By End-User (Food & Beverages, Chemical, Oil & Gas, Manufacturing, Others), and Geography Forecast till 2026.” Industrial boilers market to witness high growth due to benefits offered by industrial boilers such as flexible transportability and energy absorption.
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Top Players Overview:
- Mitsubishi Heavy Industries Marine Machinery & Equipment Co. Ltd.
- General Electric Company
- Harbin Power Equipment Co. Ltd.4.
- IHI Corporation
- Babcock & Wilcox Co.
- Thermax Ltd.
- Doosan Heavy Industries & Construction
- Dongfang Electric Corporation Ltd.
- Bharat Heavy Electricals Ltd.
Key Market Driver – Increasing demand for energy efficient boilers in various industries
Key Market Restraint – High installation and maintenance cost
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Segmentation
1. By Type
- Water-tube
- Fire-tube
2. By Capacity
- 10-150HP
- 151-300HP
- 301-600HP
3. By Fuel
- Natural gas
- Biomass
- Oil
- Coal
- Others
4. By End User
- Food Processing
- Chemicals
- Refinery
- Metals & Mining
- Others
5. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
MHI-MME and JHT Receives License
Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (MHI-MME), a 150 years old marine machinery company and Jiujiang Haitian Equipment Manufacture Co., Ltd (JHT), marine equipment manufacturer received a licensee for the marine auxiliary boiler. The company together received an order of 200 units for the licensed boiler. The delivery record involves boilers not alone for Chinese ship owners but also for European ship owners. This factor is expected to encourage and support Industrial boilers manufacturers owing to the advantages of auxiliary boilers such as exhaust gas boiler, exhaust gas economizer, which can evaporate amount up 55 tons per hour.
The advantages of auxiliary boilers will, in turn, boost the Industrial boilers market. Initiatives by companies for repairing power generation boilers are also expected to drive industrial boilers uses. For instance, in 2017 Mitsubishi Hitachi Power Systems, Ltd. contracted with CEPC for a rehabilitation project in Egypt. In this, Mitsubishi Hitachi Power Systems, Ltd. repaired power generation boilers with a rated output of 1,360 MW.
Key Industry Developments
- In Dec 2018, Babcock & Wilcock Company has received a combined purchased order totalling more than $50 million for 11 industrial package boiler in Oct, Nov and early Dec.
- In Oct 2018, UK based organic waste firm, Tidy Plant, is utilizing Spanish Industrial Specialist, SUGIMAT’s Artificial Vision System (AVS) technology of new intelligent boiler monitoring for the first time. The new technology can effectively regulate air flow, grate movement and fuel feed to enhance the environment for highest heat output and fuel efficiency, as well as reduced emissions.
- In Jan 2018, New York city will spend $200 million to upgrade aging boiler system in public housing project. Around $ 81.9 million of the money will go to purchase 39 new boilers at 10 housing developments across the city during the next four years. Another $73.9 million will go heating system upgrades at 12 developments, and $26.6 million to install temperature controls in the boiler systems at developments.
Industrial Demand will Contribute to Market Growth
An industrial boiler is a closed vessel, allowing the liquid to heat at a certain temperature. Boilers systems are soldered with thick steel plates, which permits the boiler to offer pressure of 30 bar or more. Usually, the pressure inside the industrial boiler depends on different applications. Industrial boilers can be used in various industries such as chemical, oil, gas, automotive, wood, paper building material, and food and beverage including breweries. industrial boilers manufacturers are focusing on developing large boilers with high capacity, thus meeting user-need. for instance, Bosch Industriekessel GmbH offers hot water boilers up to the range of 38 MW and heating boilers with 19.2 MW capacity.
Bosch Industriekessel provides its products to companies, such as Nestle, Coca Cola, Red Bull, Daimler, and many more. The industrial boiler market is predicted to witness growth due to the rising demand in the aforementioned industries. In addition, the expansion of power plants in different regions along with rising demand for industrial boilers for high energy absorption and flexible transportability are fostering the growth of the industrial boilers manufacturers market.
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North America to Dominate the Global Market
Geographically, the global Industrial boilers market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. North America is expected to dominate the global Industrial boilers market due to the presence of industrial boilers manufacturers in the region. Increasing demand for industrial boilers for commercial use by agriculture and other industrial sectors is boosting the growth of the industrial boilers market in the region. In Asia-pacific, the rising adoption of power plants for energy producing is driving the industrial boilers market. in addition, countries like china and India are focusing on green energy projects and also stopping pollution which in turn is supporting the growth of the global industrial boilers market.
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