Growing demand for energy-efficient products to boost the adoption of steam boilers
Category: #technology  By Rahul Sankrityayan  Date: 2020-02-07
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Growing demand for energy-efficient products to boost the adoption of steam boilers

Rising initiative to lower carbon footprint is playing a significant role in advancing the gas fired steam boiler industry, which is anticipated by over 4% by 2025. In a move to reduce overall carbon emissions, federal agencies have begun implementing stringent norms and regulations that promote the adoption of fuel with low emissions levels. Elements like declining natural gas prices and surging adoption of energy-efficient technologies might aid the deployment of gas fired steam boilers.

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Rising number of investment activities that are geared towards the expansion of manufacturing plants, especially in promising economies, could accelerate the demand for steam boilers. Majority of governments, as well as leading financial institutions worldwide, are gradually reorienting their concentration towards the expansion of key economic sectors. This along with escalating demand for energy-efficient systems due to strict federal regulations could expedite the demand for steam boilers.

Factors like surging demand for specialty chemicals, increasing investments toward chemical production units and easy availability of feedstock might also boost the adoption of steam boilers in chemical industries. The sector is susceptible to diverse technological innovations to streamline its production process and help expand its industrial centers.

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Rising initiative to lower carbon footprint is playing a significant role in advancing the gas fired steam boiler industry, which is anticipated by over 4% by 2025. In a move to reduce overall carbon emissions, federal agencies have begun implementing stringent norms and regulations that promote the adoption of fuel with low emissions levels. Elements like declining natural gas prices and surging adoption of energy-efficient technologies might aid the deployment of gas fired steam boilers.

In terms of technology, the steam boiler industry is bifurcated into condensing and non-condensing boilers. Out of these two, condensing steam boiler market is expected to witness promising growth, with gain going up to 5% by 2025. These systems are often known for their ability to deliver reduced heating costs and high efficiency. The advent of stringent emission norms focused towards tackling mounting concerns over environmental pollution could boost the condensing steam boiler market forecast.

With reference to regional landscape, Asia Pacific is likely to emerge as a lucrative ground for its regional steam boiler industry in the future. Earlier in 2018, China steam boiler market had accounted for more than USD 2 billion owing to the country’s evolving industrial landscape and growing focus towards the expansion of in-house manufacturing units.

Moreover, comparative benefits like the presence of large human capital and easy availability of raw materials coupled with robust macro-economic indicators have helped the region to gain huge foreign greenfield investments.

All in all, increasing investments across diverse SME industries such as chemical, food processing, and primary metal along with robust industrialization rate would boost the deployment of steam boilers. Positive government reforms focused on infrastructure development and expansion could supplement market size over the forecasted timeframe.

Prominent industry participants like Ferroli, Mitsubishi Hitachi, Fondital, Babcox & Wilcox, Fulton, Rentech, Cleaver Brooks, Hoval, Hurst, Doosan, CMI, AC Boiler, Cochran, Groupe Atlantic, Clayton, BHEL, Siemens, Forbes Marshall, SIME, Thermax, Victory Energy, Walchandnagar and Bosch could led the steam boiler industry landscape with their innovative and pioneering products and ideas.

 

 

 

 

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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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