According to the Graphical Research new growth forecast report titled “Asia Pacific Boiler Market Size By Capacity (<10 MMBtu/hr, 10-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr), By Product (Fire-tube, Water-tube), By Fuel (Natural Gas, Oil, Coal), By Application (Residential, Commercial, Industrial, Utility), Analysis Report, Country Outlook (China, Australia, India, Japan, South Korea, Indonesia, Philippines), Competitive Market Analysis & Forecast 2020 – 2026”, to Observe High Growth Through 2026.
Asia Pacific Boiler Market Share will witness an upsurge on account of strict government norms aimed to limit carbon emissions along with adoption of energy efficient heating systems. The increasing electricity demand coupled with replacement of the existing boilers will positively influence the business landscape. Growing population along with surging urbanization across the emerging economies will stimulate the product adoption.
Ongoing modernization of small-scale industries coupled with rising need for space heating across commercial buildings will stimulate the adoption of fire-tube units. Stringent government norms toward enhancing energy security will further foster the industry landscape. The product integrates key advantages including low operating cost, quick response and ease of installation.
Ongoing expansion of generation capacity expansion in order to meet the growing demand will drive the > 250 MMBtu/hr capacity. Increasing applicability across thermal power plants, food processing and steam intensive industries will complement the business landscape. For illustration, in 2018, NTPC Ltd. declared the commissioning of two 660 MW units across the India.
Development of infrastructure including retail centers, offices, educational institutions and healthcare facilities will complement the commercial boiler market. Growing concerns over carbon emissions coupled with government regulations toward the promotion of energy efficient heating solutions will favor the business scenario. Introduction of green building along with growing integration of digital systems will drive the adoption of new heating units.
Progressive targets to increase the power generation potential across the developing nations including India and China will escalate the coal fired boiler market growth. Increasing public and private investments across metal, cement and steel industries will stimulate the product demand. In addition, the ability of these units to operate effectively and reliably under harsh weather conditions will further boost the business growth.
Indonesia boiler market is projected to grow on account of increasing population along with rising energy demand. Robust growth across commercial and industrial sector along with ongoing infrastructure development including healthcare sector will facilitate the product adoption. Surging foreign investments toward reliable power generation coupled with replacement of traditional heating units will strengthen the business growth.
The major companies operating across the Asia Pacific Boiler Market includes Clayton Industries, Babcock and Wilcox, Bharat Heavy Electricals, Mitsubishi, Siemens, General Electric, Lennox, Ferroli, Thermax, A.O. Smith, Columbia Boiler, Daikin and DR Thermea. The manufacturers are introducing new range of products and advanced technologies to meet the competition dominant in the industry.