Published: May, 2017
The US industrial boilers market is dominated by established players, with the top four players accounting for more than 75% of the market. Cleaver-Brooks Inc., Hurst Boiler & Welding Company Inc., Fulton Boiler Works Inc., Clayton Industries Inc., Johnston Boiler Company, and Columbia Boiler Company are some of the leading players in the US industrial boilers market. The competitive dynamics of the US industrial boilers market are affected by the ease of relying on the same provider for installation as well as maintenance services. This has led to significant consolidation in the US industrial boilers market. The rising awareness among industry bodies about the long-term economic importance of consolidating all boiler-related services under their brand is likely to lead to large-scale consolidation activity in the market in the coming years.
According to Transparency Market Research (TMR), the US industrial boilers market is expected to be valued at US$515.2 mn by the end of 2023.
East North Central Region to Retain Dominance due to Robust Industrial Growth
Regionally, the US industrial boilers market is segmented into East North Central, South Atlantic, West South Central, North East, the Mountain states, the Pacific states, and East South Central. Of these, East North Central states are likely to retain their position as the leading consumer in the US industrial boilers market in the coming years, due to the steady growth of the industrial and manufacturing sectors in the region. The East North Central region is expected to account for around a third of the US industrial boilers market by 2023, with the Michigan industrial boilers market likely to exhibit a CAGR of close to 3% and the Illinois market likely to exhibit a CAGR of around 4% through the forecast period.
By capacity, the US industrial boilers market is bifurcated into boilers offering less than 300 BHP and boilers offering between 300 and 600 BHP. 300 BHP industrial boilers are likely to remain steadily in demand over the coming years, as they are the preferred option in food processing, metal processing, and petroleum processing.
Rising Regulatory Support to Environmental Conservation Drives Demand for Industrial Boilers
Rising fuel costs and the rising awareness regarding the adverse impact of human activities on the environment have led to rising interest among corporate entities in energy-efficient industrial boilers. The food and beverage and metal industries, which are among the leading consumers of industrial boilers in the US, have taken key steps in reducing their carbon footprint in recent years. This is likely to drive their share in the US industrial boilers market. The strong regulatory support from the US EPA to the use of environmentally viable technologies is also likely to remain vital for the US industrial boilers market in the coming years.
The steady growth of the petroleum industry in West South Central states is another key driver for the US industrial boilers market. Due to the rising offshore petroleum extraction as well as shale gas extraction in Texas is thus likely to remain influential for the US industrial boilers market. Rising extraction activity in the Permian Basin is key to the growth prospects of the US industrial boilers market in the coming years, as shale gas is expected to become increasingly important to the global petroleum sector as conventional oil reservoirs are exhausted. West South Central states are likely to account for close to 20% of the US industrial boilers market in the coming years.
The information in this preview comes from a TMR report titled ‘Industrial Boilers Market - US Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.’
The US industrial boilers market is segmented as follows:
U.S Industrial Boilers Market: By Region
- South Atlantic
- West North Central
- West South Central
- Pacific States
- Mountain States
- North East
- East North Central
- East South Central
U.S Industrial Boilers Market: By Capacity
- Upto 300 BHP
- 10-150 BHP
- 151-300 BHP
- 300–600 BHP
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