December 05, 2018
WELLESLEY, Mass., Dec. 5, 2018 – Fueled by regulatory changes, necessary replacements for aging and exceptionally old boilers, and a resurgence in baseline industrial growth, the industrial boiler market has seen significant growth in recent years, according to a report by BCC Research.
According to the report Industrial Boilers: Technologies and Developing Markets, industrial boilers are critical to continued global economic production and development as they form a process backbone in nearly all categories of manufacturing and other industries.
Global sales from 2017 to 2018 increased from $12.3 billion to $13.0 billion. The industrial boiler market is expected to surpass $18.2 billion by 2023, growing at a compound annual growth rate (CAGR) of 6.9%.
“Regulations continue to be an important driver for the development and deployment of new boiler emissions control technologies and higher efficiency boilers,” said Robert Eckard, the report’s author. “In this way, regulations are increasingly important in informing market and industry trends globally. While regulations and regulatory enforcement vary from region to region, regulatory structures are critically important in North America and Europe and are becoming increasingly important across much of Asia.”
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Industrial Boilers: Technologies and Developing Markets( MFG033C )
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