U.S. Industrial Boiler Market Size By Fuel (Natural Gas, Oil, Coal), By Capacity (0.3-2.5 MMBtu/hr, 2.5-10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr), By Technology (Condensing, Non-Condensing), By Application (Food Processing, Paper & Pulp, Chemicals, Refining, Primary Metal), Industry Analysis Report, State Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2018 – 2024
Published Date: Sep 2018 | Report ID: GMI832 | Authors: Ankit Gupta, Aditya Singh Bais
U.S. Industrial Boiler Market size was valued over USD 1.2 billion in 2017 and annual installation is anticipated to exceed 13,000 units by 2024.
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Positive outlook toward food processing industry along with ongoing investments toward expansion of chemical plants will propel the U.S. market size. For instance, in 2017 a total of 320 chemical production projects were announced with a cumulative investment of over USD 185 billion. Growing refining capacity owing to increasing fuel demand will further complement the industry growth. In 2018, crude refining capacity of the country reached over 18.5 million barrel per day, growing at 1.5% from 2016 level.
Shifting trends toward substitution and upgradation of existing heating systems coupled with advancement in operational ability and design of boilers will drive the industrial boiler market growth. High operation & maintenance costs, rising fuel prices in conjunction with stringent environmental regulations will further accelerate the replacement of traditional heating systems with energy efficient units.
|Base Year:||2017||Market Size in 2017:||1.2 Billion (USD)|
|Historical Data for:||2013 to 2017||Forecast Period:||2018 to 2024|
|Pages:||800||Tables, Charts & Figures:||1712|
|Geographies covered:||Illinois, Indiana, Michigan, Ohio, Wisconsin, Alabama, Kentucky, Mississippi, Tennessee, Arkansas, Louisiana, Oklahoma, Texas, Delaware, Florida, Maryland, North Carolina, South Carolina, Virginia, West Virginia, Connecticut, Georgia, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Alaska, California, Hawaii, Oregon, Washington, Arizona, Colorado, Utah, Nevada, New Mexico, Idaho, Montana, Wyoming|
|Segments covered:||Fuel, Capacity, Technology, Application and Region|
|Companies covered (20):||Fulton Boiler Works, Inc., Columbia Boiler Company, Miura America Co. Ltd., Clayton Industries, Inc., Hurst Boiler & Welding Company, Inc., P. M. Lattner Manufacturing Company, Le Groupe Simoneau, Inc., PARKER BOILER COMPANY, Cleaver-Brooks, Inc., Superior Boiler Works, Inc., Vapor Power International, LLC., Victory Energy Operations, LLC, Calderas Powermaster, Sioux Corporation, Williams & Davis Boilers, Bryan Steam, York-Shipley, Unilux Advanced Manufacturing, LLC, Acme Engineering Prod. Ltd., Easco|
|Pitfalls & Challenges:||
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U.S. Industrial Boiler Market, By Technology
Condensing industrial boiler market is predicted to grow over 5% by 2024. These systems offer relatively better operational performance and higher energy efficiency compared to their available counterparts by utilizing the heat from flue gases. Growing investments toward substitution of conventional heating units along with ongoing government efforts to reduce carbon emissions will boost the product adoption.
Non-condensing industrial boiler market will witness growth on account of easy installation and low initial cost of these units. Ability to fulfill fluctuating steam & hot water demand and low maintenance cost along with its capability to operate under adverse climatic conditions will propel the product deployment across medium and small-scale business sectors.
U.S. Industrial Boiler Market, By Fuel
Ability to offer lower carbon emission along with abundant fuel availability are some of the paramount factors that will propel the natural gas fired industrial boiler market growth. Regulatory measures toward limiting carbon emissions across industrial sector including food processing, refinery and chemical industries will further augment the market growth.
Oil fired boilers in 2017, accounted for over 30% of the U.S. industrial boiler market revenue share. Low initial investment and affordable fuel prices are some of the prime factors that make the product adoption preferable over available alternatives. However, safety concerns, lower efficiency and long-term price volatility may hinder the industry growth.
U.S. Industrial Boiler Market, By Application
Food processing industry in 2017, accounted for over 24% of the U.S. industrial boiler market volume. Growing inclination toward packaged and processed food coupled with rapidly expanding population has resulted in substantial increase in investment across the food processing industry, which in turn will augment the business growth. For instance, Snyder’s Lance in 2017, announced an investment of over USD 7 billion toward expansion of its Berkley facility.
Ongoing investments across the chemical sector on account of rising demand for petroleum and bulk chemical products will boost the product demand. For instance, in 2016, the U.S announced investments of over USD 170 billion toward the development of 275 chemical production projects. Rising demand for specialty products comprising cosmetics and dyes will further complement the business outlook.
U.S. Industrial Boiler Market, By Capacity
Rapid expansion of small and medium scale industries along with growing need for steam and hot water will propel the 2.5-10 MMBtu/hr boiler market growth. Growing adoption of multiple boiler units along with positive stance toward metal industry will further boost the product deployment.
10-50 MMBtu/hr boilers in 2017, accounted for over 25% of the market revenue share. Ongoing investments toward the upgradation and replacement of conventional steam generating units in conjunction with the product’s wide application range across chemical, metals and food processing industries will complement the business landscape.
U.S. Industrial Boiler Market, By Region
East North Central industrial boiler market is predicted to grow over 3% by 2024. Presence of large steam intensive industries across Ohio, Michigan and Illinois along with positive business outlook toward chemical manufacturing, equipment manufacturing, and food processing industries will boost the product demand.
West South Central, in 2017 accounted over 18% share of the U.S. industrial boiler market size. High concentration of petroleum and chemical industries across the region coupled with modernization and capacity expansion of petroleum refineries will propel the industry growth. As of 2018, there are 29 refineries operating in Texas alone, with a cumulative capacity of over 5 million barrels per day.
Competitive Market Share
Key companies operating across the U.S. industrial boiler market include York-Shipley, Cleaver-Brooks, Acme, Williams & Davis, Parker, P. M. Lattner, Clayton, Fulton, Vapor, Bryan, Superior, Easco, Sioux, Groupe Simoneau, Calderas Powermaster, Miura, Columbia, and Hurst along with others.
Notable players active in the business are focusing toward inorganic growth ventures and development of new and innovative products as their growth strategy. For instance, in February 2016, Fulton introduced the latest heat transfer solution for the vertical steam boiler design. The new solution aimed at providing a higher thermal efficiency in comparison to traditional steam boilers, thereby enhancing the company’s product portfolio.
U.S. Industrial Boiler Industry Background
Industrial boilers are primarily deployed for hot water and steam generation across various industrial sectors including chemical manufacturing, paper & pulp industries and food processing among the others. Rapid increase in population along and growing demand for processed food along with strong growth across chemical sector will positively influence the industry growth. Ongoing efforts to limit the rising effects of global warming is further set to enhance the product deployment.
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