Diminishingfossil fuel resources and the increasing demand for energy across the region will boost U.S. Industrial Boiler Market. Growing concerns regarding the hazardous effects of increasing carbon content in the atmosphere will favor the industry growth over the next few years. According to Global Market Insights, Inc., “U.S. Industrial Boiler Market will surpass a revenue of USD 600 million by 2024.”
Industrial boilers find applications in prominent sectors such as metal, chemical, food, refining, and paper. U.S. industrial boiler market in paper industry is predicted to record a CAGR of more than 3% over the coming years of 2016 to 2024, primarily driven by the rising demands for packaging and labeling purposes. Refining application will generate a revenue of over USD 95 million by 2024, owing to the increase in the number of refinery industries across the U.S. to fulfill the surging need of products such as LPG, diesel, lubricants, and asphalt.
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Chemical is another lucrative application segment of U.S. industrial boiler industry, which will generate a revenue of more than USD 150 million by 2024.
Taking into consideration the capacity, U.S. industrial boiler market is segmented into >250 MMBtu/hr, 100-250 MMBtu/hr, 50-100 MMBtu/hr, 10-50 MMBtu/hr, and < 10 MMBtu/hr.
U.S. industrial boiler industry with a product capacity of < 10 MMBtu/hr collected a revenue of USD 100 million in 2015, and is anticipated to exhibit noticeable growth rate over the coming seven years, owing to escalating product usage across the chemical and metal manufacturing industries. U.S. industrial boiler market with a product capacity of 10-50 MMBtu/hr will register an annual growth rate of more than 3% over the period of 2016 to 2024.
The regional highlights of this industry are provided below:
- U.S. industrial boiler market across the North Carolina region will surpass a revenue of USD 25 million by 2024, owing to the growing industrialization.
- Alabama region will collect a revenue of more than USD 10 million by 2024, primarily driven by growing trends toward the paper industry.
- U.S. industrial boiler market across the North-East region, led by New Jersey, accounted for more than 13% of overall regional revenue in 2015.
- The expanding food processing sector will favor Iowa industrial boiler industry size over the coming years.
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The key participants in U.S. industrial boiler market are Hurst Boiler & Welding Co Inc., Sioux Corporation, Columbia Boiler Co., Calderas Powermaster, Easco Corporation, Le Groupe Simoneau, Inc., Bryan Steam LLC., Fulton Inc., Superior Boiler Works, Inc., Unilux Advanced Manufacturing LLC, Vapor Power International, LLC., York-Shipley, Clayton Industries, Lattner Boiler Manufacturing Co., Cleaver-Brooks, Inc., Parker Boiler Co., Williams & Davis Boilers Inc., and Acme Engineering Prod. Ltd.
Browse key industry insights spread across 202 pages with 374 market data tables & 10 figures& charts from the report, “U.S. Industrial Boiler Market Size By capacity (< 10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr), in detail along with the table of contents:
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