- The key vendors in the Global Industrial Boiler market 2015-2019 are Alstom SA, Foster, Wheeler AG and Hitachi Ltd.
London, 26 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Industrial Boiler market 2015-2019. One of the major trends is government initiatives on eco-friendly processes. There is an increased adoption of CFB boilers by the power industry that is in turn boosting the demand for industrial boilers. Thus, with many innovative and reliable industrial boilers expected to be introduced by market vendors during the forecast period, the future of the market looks promising. The overall market is expected to grow at a CAGR of 2.96 percent during the forecast period of 2014-2019.
The increased demand for energy has led to a huge demand for industrial boilers. New power plants and increased capacity utilization of the existing power plants along with industrialization in the APAC region are the main reasons for the growth of the market. Effective deployment of advanced technology industrial boilers is optimizing the overall operational cost and enhancing organizational efficiency.
“Several companies across the power industry are showing their preference towards CFB boilers because of their ability to utilize a variety of low-cost fuels with lower emissions. Various types of low-cost fuels such as biomass, low-grade fuels, and waste fuels can be effectively used in CFB boilers,” says Faisal Ghaus, Vice President of TechNavio Research.
“Several companies are offering highly efficient instruments and control technologies to automate the operation of industrial boilers while adjusting the real-time fuel variability and simultaneously handling mechanical and emission constraints.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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