Unprecedented Growth Expected in Global Boiler Market in Future

by Manish Kumar Digital Analyst

The rapid growth of the petrochemical industry, especially in the developing nations such as India and China, is one of the main factors contributing toward the growing demand for boilers across the world. In addition to this, the ballooning requirement of energy efficient systems in various commercial, industrial, and residential applications is further pushing the sales of boilers across the globe. The other important factor responsible for the mushrooming sales of boilers is the flourishing food processing industry in many countries.

 

Driven by the above-mentioned factors, the global boiler market is expected to register rapid growth in the coming years. A boiler is basically an enclosed vessel in which the water is heated and then circulated as steam, superheated steam, or hot water for various purposes such as power, electricity, and heating. There are mainly two types of boilers used across the world— water tube and fire tube boilers. Of these, the fire tube boilers are currently recording higher sales, on account of their lower initial cost, easier handling, wide-scale applications in multiple sectors, and higher fuel efficiency.

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The biggest end-users of boilers are chemical, textile, power, oil and gas, and food and beverages industries. Out of these, the chemical industry is currently recording the highest utilization of boilers, owing to the high heat management requirements in this industry. In addition to this, the lower initial costs, operational safety requirements, and capital outlays are making the boilers highly sought after in the chemical industries and chemical production processes. 

 

One of the major trends currently being witnessed in the boiler market is the development of connected controls, that are accessible through Wi-Fi and allow the operators to remotely track and diagnose the problems arising in the boilers. Another prominent trend presently being observed in the market is the increasing preference for combi boilers over the conventionally used standard boilers. This is mainly due to the fact that unlike the standard boilers, the combi boilers don’t require a secondary appliance for delivering hot water and can manage both the heating and delivery applications simultaneously.

 

Across the globe, the Asia-Pacific (APAC) region is predicted to record the highest usage of boilers in the forthcoming years. This is primarily attributed to the thriving food and beverages, power, and chemical industries in the region, especially in the various APAC countries such as Japan, China, and India. North America is expected to observe large-scale utilization of boilers in the coming years, on account of the increasing demand for various end-use products.

 

Thus, it can be said with confidence that the sales of boilers will increase massively all over the world in the years to come, because of their ballooning requirement in the food and beverages and petrochemical industries and residential, commercial, and industrial applications.

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Created on Jun 18th 2020 06:33. Viewed 219 times.

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