The leading four players, Cleaver-Brooks, Inc.,
Fulton Boiler Works, Inc., and Hurst Boiler & Welding Company,
Inc. collectively held a gigantic share of 75.8% share in the U.S.
industrial boilers market in 2014. Transparency Market Research found
that the fragmented competitive landscape is being driven by
increasing strategic alliances and partnerships to gain stronger
market presence. For instance, Cleaver-Brooks, Inc. acquired Holman
Boiler Works and Affiliated Power Services in July 2014 to growing
inorganically.
Companies are also focused on achieving
technological innovation and product differentiation. The lead author
of this study says, “Players are also set to expand in regions such
as South America and Asia Pacific to strengthen their foothold and
increase their market presence in lucrative emerging economies.”
This 103 page report gives readers a
comprehensive overview of the Industrial Boilers market. Browse
through 16 data tables and 34 figures to unlock the hidden
opportunities in this market@
Industrial Boilers Gain Popularity due to
Environmental Norms
The stringent regulations announced by the
Environmental Protection Agency (EPA) regarding air toxic standards
to limit emissions from various types of boilers is likely to trigger
demand for new-age industrial boilers. Though there is no regulation
governing the definite size of the industrial boilers to be used,
end-user industries are aiming towards installing boilers that are
highly energy-efficient. TMR expects that this shift will adversely
affect coal-fired boilers and make way for natural gas boilers.
The increasing prices of fuel will also lead to a
demand for high-efficiency boilers as they drastically bring down
fuel costs. Currently, fuel costs account for nearly 85% of the total
operation cost of boilers. To cut down these expenditures and to
optimize the usage of available resources, users are likely to
upgrade their facilities will new boilers. Additionally, end-user
industries such as food, paper, chemical, refinery, and metal will
invest in efficient boilers due to the pressing need to cut back on
carbon emissions.
The high cost of equipment, installation, and the
cost of operations are all creating a huge impediment for the growth
of the industrial boilers market in the U.S. These costs still remain
unaffordable to several end-user companies, which is dissuading them
from making investments to upgrade their facilities. However, the
stringent environmental norms will present profitable opportunities
to the U.S. industrial boilers market to increase its revenues.
Presence of End-user Industries Keeps East
North Central Region Ahead in the Race
The East North Central Region in the U.S. had the
maximum installations of industrial boilers in 2014, accounting for
about 30% of the overall market. In the foreseeable future, this
region will be driven by robust industrial growth and the remarkable
manufacturing output to lead the U.S. industrial boilers market. The
presence of food, chemical, and metal companies in Illinois and
Michigan will also boost this geographical segment. TMR expects that
Michigan market will rise at a CAGR of 2.98% while the Illinois
market will surge at 3.90% during the forecast period.
Get accurate market forecast and analysis on
the Industrial Boilers market. Request a sample to stay abreast on
the key trends impacting this market@
The research report points out that the
opportunity in the U.S. industrial boilers market will be worth
US$515.22 mn by 2023. As of 2014, the market was valued at US$382.37
mn and is anticipated to expand at a CAGR of 3.35% from 2015 to 2023.
The review is based on the findings published in
Transparency Market Research’s new report, titled “Industrial
Boilers Market - US Industry Analysis, Size, Share, Growth Trends,
and Forecast 2015 - 2023.”Industrial Boilers Market - US
Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 -
2023
Key Takeaways:
- Environmental pressure to urges end-user industries to opt for energy-efficient boilers
- Booming industrialization steers adoption rate of industrial boilers at 3.35% CAGR between 2015 and 2023.
- Michigan and Illinois to play key role in driving industrial boiler sales in the East North Central part of the U.S.
The U.S. industrial boilers market has been
segmented as follows:
U.S Industrial Boilers Market: By Region
- South Atlantic
- West North Central
- West South Central
- Pacific States
- Mountain States
- North East
- East North Central
- East South Central
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment