Mounting Pressure to Reduce Carbon Footprint Encourages Usage of Efficient Industrial Boilers
The increasing pressure on the chemical, metal, food, and several other manufacturing companies to reduce their carbon footprint is creating a lucrative growth opportunity for the industrial boilers market in the U.S. The recently stated guidelines by the Environmental Protection Agency (EPA) pertaining to air pollution levels from institutional, commercial, and industrial boilers is expected to lead to an investment in energy-efficient boilers. This supportive groundwork is expected to push the opportunity of the industrial market to
East North Central Region Spearheads Overall Market
In terms of regions, the East North Central region witnessed a surge in the number of industrial boiler installations in 2014. In the same year, the region accounted for 30% of the total market. In the coming few years, this regional market is expected to experience tremendous rise in manufacturing activities and industrial growth. Citing these reasons, the East North Central region will see the highest demand of industrial boilers in the forecast period. The strong presence of metal, chemical, and food companies in Michigan and Illinois will also present ample of growth opportunities to the industrial boilers market in the U.S.
Petroleum Industries in West South Central Region Keep Up the Demand for Industrial Boilers
The next big geographical segment in the U.S. industrial boilers market is the West South Central. As of 2014, this region held 18% share in the total market. Researchers predict that the rise of this regional segment will be due to the growth of fabricated metal and petroleum industries in Oklahoma. Studies also point out that the maximum installed industrial boilers are of 300 BHP capacity due to the presence of primary metals, food processing, and petroleum industries.
South Atlantic Emerges as Third Key Contributor to the Market
The South Atlantic region of the U.S. industrial boiler market was registered as the third largest key contributor to the revenues of the overall market. As of 2014, this region held a share of 15% in the overall market. The burgeoning chemical and paper industries of South Atlantic are expected to drive this market in the coming years.
The industrial boilers market in the U.S. will also be driven by the rising fuel costs that account for about 85% of the total cost of operations of boilers. In wake of exorbitantly rising fuel costs, the preference of end-user industries is likely to shift towards energy and fuel-efficient boilers. The modern boilers are known to bring down emissions of harmful gases such as CO, CO2, VOC, and NOX. The economic recovery of the U.S. and the rising capital investments are also expected to propel this market.
Players take Product Differentiation Seriously to Gain Competitive Advantage
Some of the leading players operating in the U.S. industrial boilers market are Cleaver-Brooks, Inc., Johnston Boiler Company, Fulton Boiler Works, Inc., Clayton Industries Inc., Columbia Boiler Company, Hurst Boiler & Welding Company, Inc., P.M. The competitive landscape in the U.S. industrial boilers market is fragmented with players trying to secure a larger consumer base through strategic alliances. However, companies are increasingly working on technological innovation and establishing product differentiation to create a niche.
This research study analyzes the industrial boilers market in terms of revenue (US$ Mn). The market has been segmented on the basis of capacity and geography. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional and state level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the industrial boilers business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the industrial boilers market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of industrial boilers with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the U.S industrial boilers market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the industrial boilers business in the U.S. There are currently numerous drivers of the market. One of the most prominent drivers is the stringent regulations for emission control. Market attractiveness analysis was carried out for the industrial boilers market on the basis of revenue realization and industrial growth. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The industrial boilers market was analyzed across eight regions: South Atlantic(Delaware, Florida, Maryland, North Carolina, South Carolina, Virginia and West Virginia), West South Central (Arkansas, Louisiana, Oklahoma, Texas), West North Central(Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota), Pacific States(Alaska, California, Hawaii, Oregon, Washington), Mountain States (Arizona, Colorado, Utah, Nevada, New Mexico, Idaho, Montana, Wyoming), North East(Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania), East North Central(Illinois, Indiana, Michigan, Ohio, Wisconsin), and East South Central(Alabama, Kentucky, Mississippi, Tennessee). These regions are further segmented by states and capacity of installed industrial boilers in the U.S. Capacity ranging from (0 to 300 BHP and 301- 600 BHP) has been provided for each states and region. Regional data has been provided for each sub-segment of the industrial boilers market. Key players in the industrial boilers market include Fulton Boiler Works, Inc., Hurst Boiler & Welding Company, Inc., Columbia Boiler Company, Superior Boiler Works, Inc., and Le Groupe Simoneau Inc. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
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