Boiler System Market – Overview
Demand growth in various sectors have plunged the boiler system market into a steady growth period. Market Research Future, a firm which specializes in market reports related to the Energy & Power sector among others, published in its recent report on Boiler System Market Research Report – Forecast to 2022 that the sector is set to achieve USD 3,573.6 million by the end of the forecast period.
Energy crisis have been one of the key factors that have driven the demand for the market. Owing to rise in populations around the world, energy providers as well as consumers have started to discuss and utilize alternative energy sources to meet the power needs of the ever growing population. Due to fluctuations in temperature, a central HVAC system is instrumental to maintaining optimal temperature in commercial or residential setups which has contributed in an immense way to the growth of this sector. Industrial Boilers are finding new and diverse applications across industries such as chemical, metal, food & beverage.
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Latest Industry News:
March 2017 Thermax through its stepdown subsidiary in Denmark has agreed to acquire 100% stake of Barite Investments. As par the agreement with Weiss Sp in Poland, Thermax will acquire production activities related to boiler manufacturing & certain other assets. The agreement was signed on March 28, 2017, but the transaction is in process, and will be completed after fulfilling certain conditions. Thermax Limited is engaged in the business of manufacture and sale of boilers, heating and cooling equipment, industrial chemicals, and water and waste management equipment.
Sep 2017 The Thermax Group has won a contract worth USD 43 million (Rs 276 crore approximately) from a leading cement company in the UAE for a turnkey captive power plant. The scope of supply includes design, engineering, manufacturing, construction and commissioning of the solid fuel-based power plant with two CFBC boilers. Thermax also would be supplying emission control equipment and water treatment plant for the project, to be commissioned within 18 months
Dec 2017 Daikin Italy has launched the first integrated system to offer hybrid heating, direct expansion air cooling and domestic hot water production using lower GWP refrigerant R32. It is the first water heating system benefitting from the higher efficiencies of R32. It allows automatic control of the three different operating modes: heat pump only, boiler only or hybrid operation. In winter, depending on the outside temperature, energy costs and heat demand, the Daikin HPU Hybrid activates the heat pump or the boiler or both solutions with the aim of always operating in the most economical way possible.
Dec 2017 Weil-McLain, an industrial, residential and commercial heating systems manufacturer, has expanded its Evergreen line of high-efficiency boilers to include three smaller sizes to fit small residential or light commercial use. The Evergreen boiler is designed to lower both a building’s utility bills and its carbon footprint. Designated Most Efficient by Energy Star, the Evergreen line derives its name from its consistently sustainable design.
Dec 2017 A. O. Smith Corporation is set to roll out a ProLine XE Combination (Combi) Boiler in early 2018 that would deliver instant hot water as well as comfortable space heating for residential customers. Further, the service-friendly compact design of the latest product will offer easy installation, set-up as well as maintenance besides a host of other benefits to professional contractors. The combi boiler’s critical components like the built-in circulator can easily be moved to an easily accessible location within the unit that simplifies service and maintenance.
Dec 2016 Danish waste to energy technology firm, Babcock & Wilcox Vølund, a part of US company Babcock & Wilcox Enterprises, Inc, has been awarded a contract worth approximately $35 million to design, supply and construct a waste to energy boiler for a combined heat and power plant in Boden, Sweden. Vølund’s customer, Bodens Energi AB (BEAB), is a municipally owned producer and distributor of electricity and heating.
Boiler System Market – Competitive Analysis
With the entry of new industry players in the boiler system segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The industry players profiled are Danstoker Boilers (Denmark), Bosch Industriekessel (Germany), Babcock & Wilcox Enterprises, Inc. (U.S.), AC Boilers S.p.A (Italy), Mitsubishi Hitachi Power Systems, Ltd. (Japan), ATTSU Termica (Spain), Rentech Boilers (U.S.), Byworth Boilers (U.K.), Proodos Industrial Boilers (Greece), and Siemens AG (Germany) are some of the other leading players operating in this market.
Boiler System Market – Segments
The boiler system market is segmented on the basis of type, capacity and region.
On The Basis Of Type: Oil Fired, Gas Fired
On The Basis Of Capacity: upto 20 Tonnes, 20 to 40 Tonnes, 40 to 50 Tonnes
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
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Boiler System Market – Regional Analysis
The boiler system market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Europe and Asia-Pacific are expected to witness significant growth during the forecast period mainly due to the presence of established manufacturing industries which support the growth of the boiler system market. Rising rate of industrialization and increasing demand for energy in the Asia-pacific region are also expected to boost the sales in the global boiler system market.
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