Global Industrial Boiler Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 07:37:02
With the increase in competition among the market vendors, several industrial boiler vendors are investigating opportunities to increase their market presence by differentiating their products from that of their competitors. This forces organizations to increase their focus on R&D activities in order to provide superior-quality and technically advanced boilers with additional control features that can be easily maintained by end-users throughout its lifecycle. Moreover, the increase in R&D activities by the organizations enables them to look at opportunities to develop eco-friendly and cost-effective products that would increase their competitiveness in the market.
One of the major drivers in this market is the increasing demand for industrial boilers from developing countries. Several developing countries in the APAC region such as India and China are going through a rapid industrialization phase, which is driving the demand for industrial boilers from various industries.
Further, one of the major challenges in this market is the need for high initial investment. The rising costs of the raw materials and components required to manufacture industrial boilers have increased the overall operational costs for industrial boiler vendors.
The key players operating in the global industrial boiler market include Alstom SA, Foster Wheeler AG, and Hitachi Ltd.
The global industrial boiler market is forecast to grow at a CAGR of 2.57 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for industrial boilers from developing countries. The Global Industrial Boiler market has also been witnessing the increasing adoption of CFB boilers in the Power industry. However, the need for high initial investment could pose a challenge to the growth of this market.
Other vendors operating in the market are AB&Co., Alfa Laval Aalborg A/S, ANDRITZ Energy & Environment GmbH, B&S Piping Inc., Bharat Heavy Electricals Ltd., Hangzhou Boiler Group Co. Ltd., Harbin Power Equipment Co. Ltd., Indeck Power Equipment Co., Mitsubishi Heavy Industries Ltd., Miura Boiler Inc., Suzhou Hailu Heavy Industry Co. Ltd., Tai Yuan Boiler Group Co. Ltd., Taishan Group Co. Ltd., The Babcock & Wilcox Co., Thermogenics (UK) Ltd., and TT Boilers Ltd., Wellman Group.
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