The global boiler market size by capacity (< 10 mmbtu / HR {residential, commercial, industrial, utility}, 10-50 mmbtu / HR {residential, commercial, industrial, utility}, 50-100 mmbtu / HR {residential, commercial, industrial, utility}, 100-250 mmbtu / hour {residential, commercial, industrial, utility}, > 250 mmbtu /H {residential, commercial, industrial, utility}), by-products (fire pipe, water pipe), fuel (natural gas, oil, coal), by application (residential, commercial (office, medical institutions, institutions, accommodation, retail), industry (food, paper, chemistry, refinery, main metals, utilities), analysis report, regional outlook, competitive market analysis And forecast 2021 – 2027
Industry trends
The global boiler market will exceed $50billion in 2020, and by 2025, annual installation capacity is expected to exceed 13million.
The growth of energy demand and extensive investment in the entire industry will stimulate the global boiler market. Emerging economies in Africa and Asia Pacific have launched various progressive plans for the installation and upgrading of existing boilers, which in turn will have a positive impact on industry development. For example, in 2019, Pt united, Guanxi power and Guangdong boiler Sumitomo Commercial Co., Ltd. announced a joint investment of more than $4.4 billion for the upgrading of Tanjung jati thermal power plant in Indonesia.
The introduction of building energy regulations and increased spending to expand urban centers will drive the growth of the residential boiler market. High efficiency, synchronization with home automation system and reduced failure risk are some prominent features of modern heating system, which will improve product demand. The government's measures to minimize the carbon footprint of the entire business organization have led to increased spending on upgrading existing facilities, which in turn stimulates demand for energy-saving boilers.
Global boiler market by capacity
By 2024, the boiler market of < 10 mmbtu / HR is expected to exceed US $19billion. The continued infrastructure spending in the residential and commercial sectors, as well as the growing demand for space heating in cold climate areas, will promote the adoption of low capacity heating units. For example, the EU invested more than $76billion in 2015 in housing infrastructure construction.
The increasing investment in power generation capacity to alleviate the demand shortfall will drive the boiler market growth with capacity > 250 mmbtu / hr. These systems are the main equipment for steam generation deployed in thermal power plants and steam intensive industries. Asia Pacific and African developing economies, including India, Indonesia, Malaysia and South Africa, have already introduced plans to increase industrial productivity and expand power generation capacity. For example, in 2018, NTPC Ltd. announced the commissioning of two 660 MW units in India.
Global boiler market by product
It is expected that by 2024, the global water pipe Guangdong boiler market revenue will increase by more than 3%. The superheater can achieve higher temperature capacity and high pressure treatment capacity, making it the first choice over the same kind of products. Rapid response, lighter weight, lower radiation loss and higher operational flexibility will further improve product demand.
Due to low operating costs and ease of installation, the market for boiler with fire pipes is expected to grow. Lower costs, potential to meet changing steam requirements, compact design and easy to maintain features will expand the demand for products in the industry of scale.
Global boiler market, by fuel
The market value of natural gas boiler in 2020 is more than US $16billion. Low carbon emissions, high efficiency, easy to stock and adequate gas supply make it a good choice for other peers. Government legislation to promote energy-saving technologies and reduce air pollution, as well as efforts to strengthen energy security, will further promote product demand.
The gradual goal of increasing the potential of power generation in developing regions such as Asia Pacific and Africa, as well as the increasing investment in the metal and cement industries, will promote the growth of the coal fired boiler market. In may2019, Kenya signed an agreement with Ge to build a 1050 MW thermal power plant based on supercritical clean coal technology.
Global boiler market, by application
The increasing attention to carbon emission and the increasing demand for efficient energy-saving space heating solutions will promote the growth of the residential gas boiler market. Governments have issued laws and policies to promote energy-saving heating solutions. For example, the federal energy management plan has set the minimum efficiency of gas residential and commercial boilers with capacity of 0.3 to 2.5 mmbtu / h to 95%.
It will be used for commercial use in 2020, accounting for more than 25% of the global boiler market share. The growing government spending on infrastructure (including institutions, offices, colleges, hotels and medical facilities) will drive business growth. In 2019, the government's health care spending reached $67billion, an increase of 3.6 per cent over 2018.
Global boiler market by Region
The gas boiler market is expected to grow due to strong investment activities in the commercial and industrial sectors. The continuous use of modern heating solutions to replace the existing heating system to meet strict legislative emission standards will further increase the demand for products. Under the clean air act, EPA has set emission standards for different air pollutants, including carbon monoxide, lead, NOx, sulfur dioxide and particulate matter.
Due to the growth of investment in bulk chemistry, food processing and metals industries, the boiler Market in Guangdong Province is expected to grow in China. In 2017, the chemical market revenue exceeded $1.3 trillion, an increase of 12 per cent over 2016. The growth of energy demand and the rise in fuel prices will further promote the development of the industry.
Competitive market share
The main participants in the whole gas boiler industry include ballatt heavy electric, AO Smith, Parker, Clive Brooks, selmax, well McClane, Fulton, general electric, Babcock and Wilcox, Forbes Marshall, East boiler heat, bernem, Hurst boiler and welding, Cochran, etc.
Key industry participants focus on design innovation and product line expansion, which is part of a strategy to meet regulatory standards and enhance market share. In addition, boiler manufacturers are undertaking M & A activities to expand their global influence.
Boiler industry background
Gas fired boilers are mainly used in the production of steam and hot water applications in the fields of Commerce, industry and housing. The growing demand for space heating in residential and commercial places and the steady development of the industrial sector will drive global demand for products.
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