The U.S. industrial boilers market size is anticipated to reach USD 1.54 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 2.8% from 2020 to 2027. Technological advancements and decreasing industrial boiler prices have led to increased adoption in the manufacturing sector driving demand.
The packaging segment is growing at a significant pace along with the market for pulp for hygiene products and tissues in the U.S. The demand for pulp in the textile industry is anticipated to register result in steady growth in the equipment used for the pulp and paper industry, driving the demand. Steel has very high tensile strength along with the ability to withstand high temperatures and pressure, which makes it durable and long-lasting. Besides, maintaining and cleaning steel boilerplates is easier since they allow manufacturers to add an extra layer of protective coating, thereby increasing the durability of boilerplates.
Suppliers in the market are focusing on offering the right-quality industrial boilers and services at a suitable price with the required specifications as per the convenience of customers. Supplier selection is measured as a multiple criteria decision-making problem, which is affected by numerous conflicting factors such as quality, cost, and delivery.
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U.S. Industrial Boiler Market Report Highlights
• The oil and gas segment dominated the type of fuel used for industrial boilers and accounted for 65.1% of the overall revenue share in 2019 owing to high availability and low cost compared to other types of fuel used for industrial boilers
• The small boilers segment accounted for 38.8% of the total revenue share in 2019 and is expected to continue the dominance over the forecast period as small boilers are ideal for stand-by operations requiring small amounts of steam during off-season periods
• The food and beverage segment is expected to witness a CAGR of 3.4% over the forecast period of 2020 to 2027 owing to the increasing demand in microbreweries, food processing, and beverage manufacturing facilities
• The chemical & petrochemical segment accounted for 36.6% of the overall revenue in 2019 owing to the need for high volume steam for several processes and increasing chemicals production across the country
• In September 2019, John Zink Hamworthy Combustion (JZHC) and The Babcock & Wilcox Company signed a partnership agreement for pairing the former’s Coen burners with Babcock & Wilcox Company’s water-tube package boilers
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U.S. Industrial Boiler Market Segmentation
Grand View Research has segmented the U.S. industrial boilers market based on fuel type, capacity, and end-use:
U.S. Industrial Boiler Fuel Type Outlook (Revenue, USD Million, 2016 – 2027)
• Oil & Gas
U.S. Industrial Boiler Capacity Outlook (Revenue, USD Million, 2016 – 2027)
U.S. Industrial Boiler End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Chemicals & Petrochemicals
• Paper & Pulp
• Food & Beverages
• Metals & Mining
List of Key Players of U.S. Industrial Boiler Market
• Babcock & Wilcox Enterprises, Inc.
• Mitsubishi Heavy Industries, Ltd.
• IHI Corporation
• Forbes Marshall
• Hurst Boiler & Welding Company, Inc.
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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