March 15, 2017
Wellesley, Mass., Mar 15, 2017 – New proprietary research by BCC Research predicts modest growth in the global market for boilers. The replacement and retrofit market segments are seeing healthy growth as more aging equipment is replaced. Increasingly stringent regulations are boosting these segments as well, helping to lead the global market for boilers to reach an estimated $14.6 billion in 2021, up from about $11.0 billion in 2016.
BCC Research's Industrial Boilers: Technologies and Developing Markets reports that growth will occur for boiler technologies that produce hot water and steam, although the steam-producing boilers segment will outpace its hot-water counterpart.
"Developing markets will continue to show the greatest potential for growth, whereas a slow softening of markets in transition economies will drive growth in export from those countries and limit cost increases," reports Kevin Fitzgerald, BCC Research Editorial Director.
Despite Market Consolidation Among Big Players, Niche and Small Firms See Opportunities
Driven in part by increased volatility in regional markets, a handful of smaller locally focused boiler manufacturers went under, whereas acquisitions increased.
"The continued presence of many small- to moderate-sized boiler manufacturers, especially in North America and parts of the Asia-Pacific region, points to continued opportunities for savvy small participants in technological or regional niche markets," Fitzgerald notes. "For example, in the niche market of solar-powered industrial boilers, a growing number of global locations are seeing increased installations."
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
Industrial Boilers: Technologies and Developing Markets( MFG033B )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.