In order to offer valuable insights and the most up-to-date information for making wise decisions, the Global Boiler Market report also provides a thorough understanding of the cutting-edge competitive analysis of the emerging market trends as well as the drivers, restraints, challenges, and opportunities.
Global Boiler Market size was valued at USD 15.46 Bn. in 2021 and the total Boiler revenue is expected to grow at a CAGR of 5.9% from 2022 to 2029, reaching nearly USD 24.45 Bn.
Boiler Market Overview:
The Boiler Market research report analyses and evaluates the market’s position over the projected period. It is a thorough investigation that focuses on fundamental and secondary drivers, market share, leading segments, and geographical analysis. The study also looks at key players, large collaborations, mergers, and acquisitions, as well as trending innovation and corporate strategies.
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Market Scope:
We investigated the Boiler Market from every angle, using both primary and secondary research methods. This aided us in developing a grasp of current market dynamics, such as supply-demand imbalances, price trends, product preferences, consumer behaviors, and so on. The data is then assembled and evaluated using a variety of market estimation and data validation approaches. In addition, we have an in-house data forecasting model that predicts market growth until 2029.
Following the successful completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
In 2021, the Chemicals industry category dominated the boiler market with a market share of roughly 38.45%. With the highest CAGR of 5.4%, it is also anticipated to keep leading at the end of the forecast period. The dominance of this market has been influenced by the growing demand for high-quality steam for the production of chemicals like petrochemicals, industrial gases, alkali and chlorine, synthetic rubber, synthetic organic fibres, and agricultural chemicals (of fertilisers and pesticides). The market for industrial boilers in the chemical industry is expanding thanks to emerging markets for energy consumption in that industry, such India and China.
Key Players:
Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers’ annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing personnel. Secondary information is used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources. The players highlighted in this report are as follows:
• Bharat Heavy Electricals
• A.O. Smith
• Parker
• Cleaver-Brooks
• Thermax
• Weil-McLain
• Fulton
• General Electric
• Babcock and Wilcox
• Forbes Marshall
• Burnham
• Hurst Boiler and Welding
• Cochran
• DEC
• John Wood Group PLC
• IHI Corporation
• Mitsubishi Hitachi Power Systems, Ltd.
• ANDRITZ
• ALFA LAVAL
• Bryan Steam
• Superior Boiler Works, Inc.
• Vapor Power
• Sofinter S.p.a, AB&CO GROUP
• ZOZEN boiler Co., Ltd.
Regional Analysis:
The study provides an in-depth look at the Boiler industry region-wise, covering both qualitative and quantitative data. It provides an overview and forecast of the global Boiler market by segment. It also provides market size and forecast estimations for five main regions from 2021 to 2029, including North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The Boiler market in each area is further segmented into regions and segments. The study examines and anticipates several nations, as well as current trends and opportunities in the area.
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COVID-19 Impact Analysis on Boiler Market:
We thoroughly researched and analyzed the Global Boiler Business Expansion Strategy post-COVID-19, by organizational strategic analysis, landscape, category, utilization, and leading countries, which encapsulates and analyses the global Boiler industry’s potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The primary goal of the research is to provide enterprises in the industry with a strategic analysis of the impact of COVID-19. Simultaneously, this research investigated the marketplaces of significant nations and presented their market potential in post-pandemic situations.
Key Questions Answered in the Boiler Market Report are:
- What are the most potential high-growth prospects in the worldwide Boiler industry, broken down by product category, End User, and Region?
- Which Boiler market categories will grow the most rapidly, and why?
- Which regions will grow faster, and why?
- What are the major factors impacting Boiler market dynamics? What are the Boiler market’s major drivers and challenges?
- What are the vulnerabilities and dangers in the Boiler market?
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