Asia Pacific Boiler Market Value is anticipated to grow on account of favorable government regulations toward promotion of energy efficient technologies and minimization of carbon footprint across the residential developments. Growing investments toward development of urban areas coupled with introduction of building energy code will drive the demand for energy efficient boilers. Increasing electricity demand in line with pervasive investment across the industrial sector will drive the product deployment.
<10 MMBtu/hr capacity will witness an upsurge on account of surging infrastructural investments and robust development of commercial establishments. Rising investments toward expansion of power generation capacity to mitigate the demand-supply deficit will accelerate the product deployment. Increasing applicability across textile industries for sizing and bleaching will further enhance the industry outlook.
Ongoing replacement of existing heating units with advanced solutions in order to meet the emission standards will augment the water-tube based systems market. Rapid industrialization coupled with strict regulations pertaining to harmful emissions in the environment will boost the product penetration. Industries including food & beverages and FMCG are expected to grow owing to rising population and increasing disposable income which in turn will favor the business scenario.
Natural gas boiler market is set to grow on account of paradigm shift toward increasing demand for space heating and promotion of energy efficient technologies. The ongoing efforts toward energy security coupled growing electricity demand will escalate the business landscape. Low carbon emission, high efficiency, abundant natural gas resources and easy stocking makes it a preferable option over its available counterparts.
Growing demand for energy efficient space heating solution coupled with increasing concerns to limit carbon emissions will facilitate the industry across the residential establishments. Robust growth in the real estate sector in line with rapid urbanization will stimulate the product growth. In addition, surging integration of digital systems to improve monitoring capabilities and enhance overall system efficiency will further complement the product deployment.
Ongoing commercialization along with extensive investments across the industrial establishments will propel the boiler market across the Japan. The wide scale utilization across multiple industries including chemical, machinery, food & beverage and paper industry will fuel the business outlook. Renewed focus toward the modernization of existing medical infrastructure owing to COVID-19 will enhance the product penetration.
The major players operating across the Industry includes Babcock and Wilcox, Bharat Heavy Electricals, Clayton Industries, Mitsubishi Hitachi Power Systems, General Electric, Siemens, Ferroli, A.O. Smith, Thermax, Columbia Boiler Company, DR Thermea Group, Daikin and Lennox. The participants are focusing toward expansion of product line and design innovations as part of strategy to meet the regulatory standards and boost the market presence.