Global Market Insights, Inc.

Fire Tube Industrial Boiler Market Industry Insights 2018 with Key Players - Siemens, Bharat Heavy Electricals Limited, GE, Babcock & Wilcox, Siemens, Groupe Atlantic, Amec Foster Wheeler, Thermax Limited, Viessmann.

Market will surpass USD 3 Billion by 2024


Sellbyville, DE -- (SBWIRE) -- 01/15/2019 -- Rapid industrialization coupled with rising investment toward expansion of industrial facilities will drive the global fire tube industrial boiler market size.Fire Tube Industrial Boiler Market size will surpass USD 3 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.

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.

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Ongoing global efforts toward reduction of GHG emissions in conjunction with shifting trends toward upgrade and replacement of existing heating units will boost the fire tube industrial boiler market growth. Stringent environmental norms and regulations along with rising fuel prices and increasing maintenance cost will further stimulate the substitution of conventional heating units with energy efficient systems.

Unveiling fire tube industrial boiler market trends from the food processing 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.

Unveiling fire tube industrial boiler market trends from the chemical sector:

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. With the demand for such chemicals growing each year, the chemical industry is expected to receive a boost, which in turn will be reflected in the fire tube industrial boiler market growth statistics over 2018-2024.

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Escalating demand for specialty chemicals in conjunction with increased investment for establishment of new manufacturing facilities will stimulate the fire tube industrial boiler market growth. Increasing chemical production in Asia-Pacific region will further drive the demand for these steam generating units. As per the World Economic Forum, key economies comprising China and India are set to contribute majority of chemical production by 2020.

Eminent industry participants in the global market comprise include :
- GE
- Siemens
- Babcock & Wilcox
- Thermax Limited
- Groupe Atlantic
- Bharat Heavy Electricals Limited
- Amec Foster Wheeler
- Forbes Marshall
- Viessmann.
- Cleaver-Brooks
- Fulton Boiler Works (GB) Limited
- Hurst Boiler & Welding Company, Inc.