Selbyville, DE -- (SBWIRE) -- 01/10/2019 -- The global boiler market is set to witness significant growth in the ensuing years on account of tax benefit schemes for energy-efficient home improvements and growing energy consumption across the industrial sector. In the UK, low-income households which meet the criteria are being deployed with free and heavily subsidized boilers. If an individual is in receipt of tax credits and has an income below £16,010 then they could qualify for the grant. Millions of residents across the UK struggle to keep their homes heated, particularly during the winters. It could cost around £2000 to £4000 only to replace a boiler, which for many families is out of reach. Therefore, the ECO scheme has been implemented to help low-income families reduce their carbon footprint and energy bills by replacing an old G-rated boiler with a modern A-rated boiler. Implementation of stringent energy saving rules as well as enticing government grants will fuel the growth rate of global boiler market.

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The U.S. boiler market is set to surpass annual deployment of 700 thousand units by 2024. Rising investment across commercial & industrial establishments along with growing efforts toward the replacement of conventional boilers will drive the industry growth. Positive outlook toward chemical and primary metal industry will further nourish the business outlook.

Another factor that is likely to drive product demand is the growing industrial development and surging energy needs. Recently, for instance, Imperial Oil Ltd has handed a contract to leading advanced energy and environmental technology company Babcock & Wilcox Enterprises to offer 5 industrial water-tube boilers to use in its upcoming Aspen oil sands project in Alberta.

Ongoing demand for electricity owing to rapid industrialization will drive the global boiler market growth. Massive investment plans to increase the power generating capacity of the powerplants across various emerging economies in Asia Pacific and Africa region will propel the product adoption. For instance, NHPC announced to generate additional 4458.6 Million Units (MUs) power from its Parbati-II and Kishanganga projects by end of 2018.

Commercial boiler market will reach over 6% by 2024. High efficiency, lower breakdown risk, automation option & ambient air quality are some of the underlying abilities of these boilers which will propel their adoption. Moreover, surge in demand for hot water & steam from temperate and hot climatic zones will fuel the industry growth.

In 2017, the UK boiler market was valued over USD 2 billion. Sturdy technological advancements along with upgraded gas infrastructure will propel the business growth. For instance, as per the Infrastructure and Projects Authority (IPA), an investment of over USD 700 billion will be allocated on infrastructure development in the next 10 years.

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Gas fired boiler market will grow owing to shifting trends toward green technology and cleaner fuel sources. Stringent government mandates to curb emissions along with growing environmental concerns will further augment the business growth. For instance, in 2018 the UK signed the fifth carbon budget to reduce 57% GHG emissions between 2028-2032.

Global commercial boiler market will witness robust growth on account of strengthening demand for the replacement of old heating systems along with positive outlook toward healthcare industry. Improved gas pipeline infrastructure, technological advancements and government subsidies will further propel the business growth. For instance, as per the IEA, Russia has offered Natural Gas subsidy of USD 9 billion.

Eminent players operating in the global boiler market include Burnham, Fulton, Babcock & Wilcox, General Electric, Parker, Hurst Boiler & Welding, Cochran, Thermax, A.O. Smith, BHEL, Forbes Marshall, Cleaver-Brooks, Weil-McLain and others.

Table of Content:

Chapter 1. Boiler Market Methodology and Scope

Chapter 2. Boiler Market Executive Summary

Chapter 3. Global Boiler Industry Insights

Chapter 4. Global Boiler Market, By Application

Chapter 5. Global Boiler Market, By Capacity

Chapter 6. Global Boiler Market, By Product

Chapter 7. Global Boiler Market, By Fuel

Chapter 8. Global Boiler Market, By Region

Chapter 9. Boiler Market Company Profiles

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Related Report:

Global Utility Boiler Market Size By Capacity, By Technology, Analysis Report, Regional Outlook, Competitive Market Analysis & Forecast, 2018 – 2024

Global Utility Boiler Market is anticipated to exceed USD 20 Billion by 2024. Robust economic growth across developing countries coupled with growing energy demand will drive the utility boiler market. Stringent norms toward reduction of carbon emissions along with efforts to mitigate the electricity demand supply gap will fuel the adoption of super-critical boilers. Ongoing investment toward expansion of generation capacity in order to support industrialization efforts in developing economies will further escalate the business landscape.

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