Industrial Boiler Market to Reach USD 12 Billion by 2026 at 4% CAGR: Decresearch
Category: #technology  By Rahul Sankrityayan  Date: 2020-02-14
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Industrial Boiler Market to Reach USD 12 Billion by 2026 at 4% CAGR: Decresearch

Industrial Boiler Market Report offered by Decresearch gives a market overview of the Industrial Boiler Market which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures. The report also explores the worldwide players of the market and is segmented by region, type and application with forecast to 2026.

The size of Industrial Boiler Market was registered at USD 9 billion in the year 2019 and is anticipated to cross USD 12 billion by 2026. Between the period 2020 - 2026, the Industrial Boiler Market is expected to register a CAGR of 4%.As recent as in January this year, the France government has taken a pledge to cut down carbon emissions by 40% by 2030 from that recorded in 1990. Stringent government regulations such as these demand the deployment of energy efficient heating systems, and boilers being an integral component of all industrial processes certainly adds up to the overall business outlook.

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The growing trend toward deploying energy efficient heating units has undoubtedly brought a renewed dimension to the global industrial boiler market. A large number of regulatory initiatives with regards to carbon emission abatement speaks volumes and has contributed immensely in the remodeling of industrial boiler market space. It has been observed that industrial processes accounts for a major chunk of carbon footprints and GHG emissions. The European Parliament in 2015 has introduced a new regulation under the directive (EU) 2015/2193 to curb pollutant emissions from medium capacity combustion plants.

Robust investments toward industrial construction along with escalating demand for energy-efficient space heating systems across major economies have enhanced global industrial boiler market outlook. For instance, the Government of Saudi Arabia and Iran together have recently signed a pact with regards to the development of three petrochemical units in the country. Expansion and upgradation of existing facilities is expected to complement industrial boiler industry. In fact, considering Saudi Arabia government encouraging initiatives toward economic diversification, privatization of state assets, and oil recovery price trends, the regional industrial boiler market will grow at a remarkable pace in the coming years, claim experts.

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In April 2016, the regional government had announced the Saudi Vision 2030, which mainly aims at economic restructuring through industry diversification. Since the GDP of the country is highly dependent on oil price trends, the government has set a target of increasing the participation of private players to 65% by 2030.

A recent report by Decresearch, claims that the overall industrial boiler industry will surpass a valuation of USD 14 billion by 2024. Incessant effort by the leading giants toward product innovation along with strong regulatory framework are expected to bring a new dimension in industrial boiler market. However, high capital investment is perceived to be one of the strong deterrents hindering the market growth. Nonetheless, growing number of governmental commencements toward the deployment of energy efficient heating units is sure to bring immense opportunities for the global industrial boiler market.

This research study helps to assess the change in the market dynamics, technological innovations, regional market volume, and business opportunities for the industry contenders in the coming years. The research encompasses a major market segmentation analysis – a rich source of highly important segments such as the types, technologies, applications, end-users, and regions.

The study provides major essentials for all component suppliers, developing companies, education & research institutes, service providers, research experts, investors, and operators. It also enables industry players to understand the demands and preferences of their customers and achieve competitive advantage in the market, by means of targeting different customers and specific products in order to meet their requirements. The report presents up-to-the-minute data as well as basic insights pertaining to the market estimates between 2020 to 2026.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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