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.
A boiler is a surrounding vessel in which a fluid, such as steam, is heated to generate condensation or vaporization. The boiler consists of a container with a lockable vessel in which fluid is stored and heated using hot gases produced by the combustion of resources such as fossil fuels, coal, or gasoil in a boiler or the form of electromagnetic wave coils.
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Boiler Market Overview:
The Boiler Market competitive landscape separates information by competitor. The facts include a corporate overview, financials, revenue generated, Market potential, investment in research and development, new Market efforts, geographical presence, firm strengths and weaknesses, product introduction, and application dominance. The preceding data points are relevant to the businesses’ competitive impact on the Boiler Market.
Boiler Market Scope:
This Boiler Market report discusses new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, Market share, the impact of domestic and localized Market players, opportunities in terms of emerging revenue streams, changes in Market regulations, strategic Market growth analysis, Market size, categorical Market growth, application niches, and dominance, product approvals, product launches, and geographic expansion.
Boiler Market Segmentation:
By end-use industry, the Chemicals sector segment dominated the boiler market in 2021 with a market share of over 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: The key players are
• 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.
Regional Analysis:
The geographical section of the research also includes individual Market influencing variables and changes in Market regulations that affect current and future Market trends. Data points such as downstream and upstream value chain analysis, technological trends, porter’s five forces analysis, and case studies are only a few of the indicators used to forecast the market situation for various countries’ growth.
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COVID-19 Impact Analysis on Boiler Market :
The report also discusses how COVID-19 impacted the Boiler Market.
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.
Key Questions Answered in the Boiler Market Report are:
- Which segment had the largest share in the Boiler Market?
- How is the competitive landscape of the Boiler Market?
- Which are the key factors impacting the Boiler Market growth?
- Which region has the maximum share in the Boiler Market?
- What will be the CAGR of the Boiler Market during the forecast period (2021-2027)?
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