U.S. Industrial Boiler Market size is set to exceed USD 1.6 billion by 2024. Positive outlook toward chemical sector coupled with rising investments across the food processing industry will drive the business growth. Rising demand for petroleum products will result in capacity expansion of oil refineries, which will further boost the product deployment. As per EIA, the total operable distillation capacity of the country accounted for over 18.5 million barrels per day as of June 2018.
- Pages: 800
- Tables: 1680
- Charts / Figures: 32
- Companies covered: 20
- States covered: 50
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California industrial boiler market is projected to reach over 19,000 MMBtu/hr by 2024. Chemical, metal, food processing and equipment manufacturing are the primary industries operating across the state, which will augment the product adoption. In 2016, total value of manufactured goods across the state was valued over USD 288 billion, with chemical products accounting for over 17% share.
Energy efficient operation, accessibility of fuel and low maintenance cost are the key features that will drive the natural gas fired industrial boiler market growth. In addition, rising fuel prices and stringent environmental regulations will lead to the replacement of conventional heating systems with its contemporary units. In 2016, according to EIA, over 7,700 billion cubic feet (BCF) of natural gas was consumed by industries, with a growth of over 2% from previous year.
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Condensing industrial boiler market is set to witness strong growth owing to encouraging federal regulations along with low operating cost and higher energy efficiency. These systems utilize the heat from exhaust gases by utilizing the latent heat present in outgoing water vapor by condensation. Nevertheless, limited performance at very low temperatures along with high initial cost relative to non-condensing units may hamper the industry growth.
South Atlantic industrial boiler market is projected to grow over 4% by 2024. Resurgent economic growth on account of business-friendly environment has resulted in increased investments toward new manufacturing units which in turn will fuel the product demand across the region. For instance, projects worth over USD 7.4 billion were announced across Florida and Georgia in 2015 with major focus toward food processing industry.
Growing efforts by the government and state authorities to cut GHG emissions will fuel the industrial boiler market growth. For instance, EPA introduced National Emission Standard with an aim to reduce carbon emissions from energy intensive industries. Furthermore, substantial growth across metal industry along with growing investments toward paper and pulp industry will boost the business growth.
Eminent players operating across U.S. industrial boiler include Parker, Fulton, Miura, Columbia Boiler Company, Hurst, Williams & Davis, Acme, Unilux., Easco York-Shipley, Clayton, Vapor Power, Superior, Cleaver-Brooks, Bryan Steam, Calderas, Le Groupe Simoneau, P. M. Lattner, and Sioux amongst others.
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Steam Boiler Market – https://www.gminsights.com/industry-analysis/steam-boiler-market