The international transmission of coronavirus disease (COVID-19) has created a negative impact on the global boiler market. However, food & beverages are predicted to achieve newer heights. The fossils fuels segment for the boiler is expected to have substantial market growth during the forecast period. The Asia-Pacific region will create positive opportunities for investors. The industry players of the global market are focussing mainly on various strategies to sustain in a chaotic situation.
The communal spread of the COVID-19 has created a considerable impact on the boiler market, across the globe. The sustainability of the global boiler market is mainly driven by an extensively increasing need for clean and heat energy. These factors will eventually surge the demand for boilers in the forecast period. The pandemic has created huge disruption in the business and operational process worldwide. On the other hand, though the numerous economies have implemented complete shut-down in order to curb the harmful impact of the disease, the global boiler market shall foresee considerable growth due to enormously increasing adoption in the industrial sector worldwide.
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Industrial boilers play a significant role in the functioning of hospitals, as they provide proper steam sterilization. Moreover, with a rising number of COVID-19 patients, hospitals require top-notch boiler systems along with an urgent boiler repair service to ensure proper operations. In addition to this, the pharmaceutical businesses, across the world are running continuously, amid the COVID-19 outbreak. The demand for medical supplies, drugs, and research on a possible vaccine is dramatically increased. Thus, for the efficiency of the production line, the competent steam boiler systems are essentially required. These factors may offer lucrative opportunities for the growth of the global boiler market, throughout the forecast period. During the unexpected situation, we are helping our clients in understanding the COVID-19 impact on the global boiler market.
Our report includes:
• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact
As per the recent publication of Research Dive, the global boiler market is expected to register a remarkable revenue by 2027, at a healthy CAGR, during the forecast period.
The segmentation of the global boiler market has been done based on the application, fuels, and region. The report provides key insights on the future opportunities, driving and restraining factors, vital segments, and industry players of the global boiler market.
• Factors Affecting the Market Growth
As per our analyst estimates, the rapid industrialization across the developing, as well as developed countries, is expected to surge the demand for boilers in the global marketplace, during the analysis period. On the Contrary, high installation cost coupled with stringent governmental policies is obstructing the global boiler market growth.
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• Food & Beverages will have Substantial Market Growth During the Forecast Period
Based on applications, the global boiler market is broadly categorized into chemicals & petrochemicals, paper & pulp, food & beverages, metal & mining, and others. The food & beverages segment is anticipated to increase at a remarkable CAGR during the forecast period. The boilers play a major role in the sterilization and disinfection of utensils, beverage distillation, and prevention of microbiological threats; These factors may offer positive opportunities for the segment, during the forecast period
• The Fossils Fuel held the Significant Share
On the basis of the Fuel, the global boiler market is mainly classified into fossil, biomass, oil & gas, non-fossil. The Fossils fule will have significant market share and is projected to reach up to grow at health CAGR, throughout the forecast timeframe. Fossil fuels are economically feasibly along with they are mostly used in the gas turbine, steam turbine and, small plant reciprocating gas engine.
• Geographical Analysis and Major Market Players
Based On the geographical region, the global boiler market is classified into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific boiler market has the fastest growth, throughout the analysis period, in the global marketplace. Growing population, rise in the consumption of packaged food products and increase in industrialization particularly in China, India, and Australia is expected to flourish the boiler market in the region, over the projected period.
The leading global boiler manufacturers include Sofinter S.p.a, IHI Corporation, Cheema Boilers Limited, Harbin Electric Corporation co., Ltd, MITSUBISHI HEAVY INDUSTRIES, LTD., Babcock & Wilcox Enterprises, Inc., Forbes Marshall., Thermax Limited., Siemens and, Bharat Heavy Electricals Limited.
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