Global Industrial Boiler Market to Witness 6% CAGR During 2014-19, Says TechSci Research
Burnaby, Canada, August 27, 2014 --(PR.com
)-- According to a recently published report by TechSci Research, “Global Industrial Boiler Market Forecast & Opportunities, 2019”, the global industrial boiler market is forecast to grow at a CAGR of around 6% during 2014-19, predominantly due to fast industrialization across the globe coupled with increasing demand for electricity in developing countries. Asia-Pacific is emerging as the major market for industrial boilers, and the region would continue to be the largest demand generator for industrial boilers over the next five years.
With growing demand for industrial boilers across the globe and increasing market competition, leading players across the globe are focusing on offering products with efficient heat transfer rates, additional control features and reduced fouling.
Globally, industrial boilers are being used predominantly for heating application across power generation, chemical, oil and gas, and food & beverages industries. Industrial boilers are mainly classified into two types, water tube boilers and fire tube boilers. Water tube boilers are in more demand than fire tube boilers, mainly due to their ability to operate at higher pressure than fire tube boiler. Key players operating in the global industrial boiler market include Hitachi Limited, Alstom SA and Foster Wheeler AG.
“Asia-Pacific continues to be the leading market for industrial boilers though the demand for industrial boilers is also increasing in the Americas and Europe but mainly due to replacement demand. Globally, China and India are among the major developing economies spurring growth in industrial boiler market due to continuously growing industrial activities. The demand for circulating fluidized bed technology based boilers are expected to remain high over the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research.
“Global Industrial Boiler Market Forecast & Opportunities, 2019” has analyzed the potential of global industrial boiler market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industrial boiler industry.