2014-02-24 05:25:01 - Global Industrial Boiler Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Industrial Boiler market is to grow at a CAGR of 2.82 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand of industrial boilers from developing countries. The Global Industrial Boiler market has also been witnessing the increasing focus toward R&D activities. However, the need for high investment could pose a challenge to the growth of this market.
With the increase in competition among the market vendors, several industrial boiler vendors are investigating the opportunities to increase their market presence by differentiating their products from those of their competitors. This forces organizations to increase their focus on R and D activities in order to provide superior-quality and technically advanced boilers
with additional control features, which can be easily maintained by the end-users throughout their lifecycle. Moreover, the increase in R and D activities by the organizations enables them to investigate the opportunities to develop eco-friendly and cost-effective products that would increase their competitiveness in the market.
The market is witnessing many growth drivers such as the increasing demand for industrial boilers from developing countries. Several developing countries in this region such as India and China are going through a rapid industrialization phase, which is driving the demand for industrial boilers across industries.
A major challenge in the Global Industrial Boiler market is the need for high 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 vendors dominating this market space are Hitachi Ltd., Alstom SA, and Foster Wheeler AG. The other vendors mentioned in the report are Miura Co. Ltd., Wellman Robey Ltd., Thermogenics (U K) Ltd., Taishan Group Co. Ltd., Bharat Heavy Electricals Ltd., Hangzhou Boiler Group Co. Ltd., Tai Yuan Boiler Group Co. Ltd., TT Boilers Ltd., and Suzhou Hailu Heavy Industry Co. Ltd.
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