Sellbyville, DE -- (SBWire) -- 02/21/2019 --Fire Tube With the commercialization of industrial boilers having ascended over the recent years, fire tube industrial boiler market is anticipated to witness a positive growth trajectory as well over 2018-2024. Fire tube industrial boilers find extensive applications in food processing, paper and pulp as well as chemical industries that have been registering exponential growth in the recent decades. The massive growth trend is expected to continue in the next few years, the impact of which is certain to be felt across the revenue graph of the overall fire tube industrial boiler market.
The U.S. market is set to surpass 4 thousand units by 2024. Increasing industrial investment for the replacement of conventional heating units intended toward environmental compliance will stimulate the industry growth. Sizeable expansion in the refining capacity to serve the rising demand of fuel coupled with strengthening measures to upgrade the manufacturing capabilities will further favor the industry landscape.
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Fire tube industrial boiler market is predicted to grow on account of the product's suitability for small and medium scale industries along with the ongoing expansion of small-scale industry sector. According to the United States Trade Representative (USTR), there are over 30 million small and medium scale industries operating in the U.S. as of 2017. Furthermore, low initial cost, easy maintenance, compact design, steady steam/hot water supply and optimum load surge handling capability are some of the key features that will boost the product's adoption.
Unveiling fire tube industrial boiler market trends from the various sector:
The food processing industry is one of the most ardent users of boilers – in most probability, fire tube industrial boilers. Industrial food processing involves the application of heat at several stages as heat still constitutes one of the basic means of reducing and effectively eliminating microbiological risk in food. Moreover, heat is also needed to cook the food to make it smoother, softer, digestible and overall more appealing. Heat is also an integral step in operations such as sanitation at pre-filling stage, sterilization of packaged food, pasteurization, cleaning of sanitation procedures of surfaces, equipment and food plant in general. Industrial boilers play a major role in producing this heat and it is needless to mention that with the expansion of the food processing industry, fire tube industrial boiler market share is certain to depict a major upsurge.
The chemical industry is yet another segment that demands industrial boilers on a large scale. Being one of the largest industries across the globe, it goes without saying that its colossal expansion scope is likely to create positive growth avenues for the fire tube industrial boilers market. in 2017, chemical industry accounted for approximately 25% of the fire tube industrial boiler market revenue, propelled by the rising demand for petrochemical products, cosmetics, commodity and fine chemicals. For instance, due to shrinking acreage of land available for food supply on account of many areas increasingly being used for the production of biofuel material, it is becoming important to use agrochemicals such as fungicides, fertilizers, insecticides, herbicides etc. to maximize agricultural yield.
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As regulations regarding decreasing greenhouse gases emission rises along with the volatility of boiler fuel costs, it is imperative that the ensuing years will witness a slew of industrial boiler upgradations, a trend that will positively affect the fire tube industrial boilers industry. It is rather discernible to utilize every bit of fuel for the utmost production of energy. In other words, all of the heat value in fuel should be converted to steam energy so as not only to maximize industrial yield but also to reduce the emission of greenhouse gases.
Eminent industry participants in the global market:
- Babcock & Wilcox
- Cleaver-Brooks
- Amec Foster Wheeler
- AC BOILERS S.p.A. formerly ANSALDO CALDAIE
- Thermax Limited
- Ferroli S.p.A.
- Groupe Atlantic
- Victory Energy Operations, LLC
Fire Tube Industrial Boiler Market with Respect to the Application Spectrum: Food Processing to Emerge as a Vital Growth Avenue over 2018-2024
Fire Tube Industrial Boiler Market annual installation is anticipated to exceed 40 thousand units by 2024 as rapidly growing food processing industry and positive outlook toward chemical sector helps boost market growth.