Global industrial boiler market is set to witness growth on account of rising infrastructural investment along with increasing focus toward automation. Strengthening measures to reduce dependency on conventional fuel coupled with introduction of stringent emission norms will further stimulate the business growth. For instance, the EU Medium Combustion Plant (MCP) Directive (2015/2193) regulates pollutant and dust emissions from the combustion of fuels in industrial plants.
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Sizeable investments toward the replacement of traditional heating systems aimed at environmental compliance will drive the U.S. industrial boilers market growth. The industry expansion is further attributed to the significant growth in the country’s refining capacity to cater to the resurgent fuel demand. According to EIA, in 2017, the operable atmospheric crude distillation capacity increased by over 1.6% when compared to 2016 in the U.S.
>250 MMBtu/hr industrial boiler market is anticipated to expand over 4% by 2024. These boilers find predominant applications across various industries including pulp and paper, refinery, chemical and others. The robust growth across the pulp and paper industry on account of rising demand for e-commerce packaging and robust retail activities, will further strengthen the product deployment.
Water tube industrial boilers market is predicted to grow over 3% by 2024. Flexibility in design, rapid circulation, efficient performance and thin tubes are some of the key features that will drive the product demand. Growing need for steam generating solutions from medium and large-scale industries will further facilitate the product penetration.
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Natural gas fired industrial boilers market.is set to expand over 4% by 2024. Regulatory directives promoting use of clean fuel along with stringent emission norms will drive the demand for these heating systems. For instance, the European Union issued guidelines under the Directive 92/42/EEC pertaining to energy efficiency, energy conservation & emission reduction across key economic sectors.