U.S. Industrial Boiler Market size to exceed $1.9bn by 2028
Published Date: November 18, 2021 Authors: Ankit Gupta, Nikhil Paranjape
U.S. industrial boiler market size is expected to surpass USD 1.9 Billion by 2028, as reported in the latest study by Global Market Insights Inc.
U.S. industrial boiler industry has witnessed a significant momentum in the last decade primarily due to high steam requirement in industrial activities concurrent with increasing industrial sector output and retrofitting of conventional boiler with efficient ones. Many regions across U.S, have been subject to frequent freezing temperatures, leading to strong market demand for a reliable and stable source of steam flow, thus boosting the requirement of industrial boiler units.
Strict environmental laws with increasing emission norms for heating equipment will further provide momentum for product adoption. Furthermore, consumer awareness for energy efficient industrial boiler and higher thermal efficiency will further provide positive drivers for the market expansion.
However, the U.S. industrial boiler market is expected to witness subdued growth on account of ongoing COVID-19 pandemic. Governments across the states have increased investment across various sectors and initiated ease of lockdown protocols, leading to revival of economy. This has significantly impacted the market outlook and the industrial sector have started gaining momentum on account of ongoing revival of economy. Additionally, mass vaccination drive will augment the economic growth across the country as the industries start operating at full strength. Moreover, the market growth in 2022 is anticipated to remain uptrend and positive.
Rising super-heated steam requirements associated with industrial heating applications will proliferate the oil-based U.S. industrial boiler market
Oil based industrial boiler industry is anticipated to grow on account of increasing population and growing super-heated steam requirement across industrial applications. Currently, approximately 3,400 units of oil based industrial boilers are deployed across U.S. industrial sector. Product features like better combustion properties, high product shelf life and low maintenance will provide positive outlook for business expansion. However, stringent emission regulations pertaining to the use of fossil fuels will favor sustainable alternatives over oil-based boiler units. Though, volatile oil prices and high energy cost saving operations are various factors that will proliferate the business scenario over the forecast period.
Less space requirement and automation associated with industrial heating application will strengthen the 2.5 -10 MMBtu/hr based U.S. industrial boiler systems market share
Different industries have increased their production capacity at pre-COVID level and upscaling of production units is leading to growing demand of low capacity, including 2.5 – 10 MMBtu/hr industrial boilers across the states. Currently, approximately 2,800 units of industrial boilers are deployed across the U.S. with consumer preferences towards high end products and better after sales services, which in turn will provide a push for product adoption across the nation. Wide scale utilization and specific project requirements will cater the positive drivers for product deployment.
Increased efficiency along with integration of new technologies will fuel the non-condensing-based U.S. industrial boiler market statistics
Better cycle efficiency throughout the industrial processes coupled with expansion of production units will lead to growing demand of non-condensing industrial boilers across the region. Usage of sea water once through the system leading to less heat loss as compared to other conventional systems, will provide edge over other alternatives. Government economic stimulus and industrial sector expansion will provide momentum for product adoption. Better auxiliaries’ integration and variable captive requirements across industrial operations will fuel the demand for non-condensing U.S. industrial boilers.
Browse key industry insights spread across 840 pages with 1711 market data tables & 37 figures & charts from the report, “U.S. Industrial Boiler Market Forecasts 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, Pulp & Paper, Chemical, Refining, Primary Metal), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast 2018 – 2028 ”in detail along with the table of contents:
Rising concerns for reliable heating sources and government policies across Pacific states will boost the U.S. industrial boiler market outlook
Ongoing reforms pertaining to energy efficiency coupled with growing concern toward energy security will appreciably drive the industrial boiler market share across Pacific states. Governmental policies and grants for the deployment of efficient technology will fuel the product demand over the forecast timeline. Better efficiency as compared to conventional boilers, leading to reduction in operation costs, will fuel the U.S. industrial boiler market demand. Moreover, a coupon free loan program will provide industrial boiler consumers a time period to integrate technological advancements in the existing industrial boiler units which in turn will proliferate the market statistics for these units across the region.
Key players operational in the U.S. industrial boiler market includes Babcock and Wilcox Enterprises, Inc., Fulton Boiler Works, Inc., Hurst Boiler and Welding Co., Inc., Cleaver-Brooks, Clayton Industries, General Electric, Rentech Boilers, Victory Energy Operations, LLC., Miura America Co., Ltd., PARKER BOILER, Superior Boiler Works, Inc., Groupe Simoneau Inc., Le, Vapor Power International, Columbia Boiler Company, P. M. Lattner Manufacturing Co., Powermaster amongst others