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Industrial Boilers: Technologies and Developing Markets

  • February 2017
  • 175 pages
  • BCC Research
Report ID: 2070061

Summary

Table of Contents

Use this report to:
- Learn about recent historic boiler markets and emerging trends that weigh on market valuations and futures.
- Evaluate the existing boiler industry, focusing on boiler manufacturers within major categories of industrial boilers.
- Gain an insight into the regulatory considerations important for the development and deployment of new boiler emission-control technologies and higher efficiency boilers.

Highlights
- The global market for industrial boilers reached $9.9 billion and $10.4 billion in 2014 and 2015, respectively. This market is expected to increase from nearly $11.0 billion in 2016 to nearly $14.6 billion in 2021 at a compound annual growth rate (CAGR) of 5.8% for 2016-2021.
- Steam industrial boilers market is expected to grow from nearly $10.2 billion in 2016 to nearly $13.6 billion in 2021 at a CAGR of 5.9% from 2016 through 2021.
- Hot water industrial boilers market is expected to grow from $788 million in 2016 to $999 million at a CAGR of 4.9% from 2016 through 2021.

STUDY GOALS AND OBJECTIVES
Recent years have marked an opportune time for careful expansion within the industrial boiler industry. It must be determined if the time still opportune, and if so, which regional and national markets and which boiler technology categories will show the strongest growth. Boiler manufacturers and other industry players must determine the best strategies to pursue to take advantage of potential upcoming market advances. This report will help industry executives, sales managers and strategists to better plan their approaches to growth within the current diverse industrial boiler markets.

This report provides a global overview of the market for industrial boilers, with breakdowns by region and major technology. It also assesses and describes the current status and potential growth of the global industrial boiler industry and the associated market for industrial boiler technologies.

This report’s objectives include:
- To summarize recent historic boiler markets and emerging trends that weigh on market valuations and futures.
- To evaluate the existing boiler industry, focusing on boiler manufacturers within major categories of industrial boilers.
- To assess market potential for EOR technologies over a five-year period from 2016 through 2021.

REASONS FOR DOING THIS STUDY
Several key factors are currently influencing industrial boiler markets on a regional and global scale. In mature markets such as the U.S. and most of Europe, replacement and retrofit markets are driven by equipment use cycles, as aging equipment cycles out of favor or into disrepair and is replaced. Replacements are also being bolstered by increasingly stringent regulations. These include federal-level regulations on toxic air contaminants and criteria air pollutants from new and existing boilers across multiple industries in the U.S., as well as required reductions in greenhouse gas emissions across Europe. Mature markets in North America have nonetheless benefited from increasing industrial productivity from 2013 to 2015, which goaded markets forward during that timeframe. Meanwhile, mature European markets continue to struggle with flat economic growth. Since the last iteration of this report, growth in the Asia-Pacific region’s emerging markets, led by China, has also cooled, and in some cases, it has even contracted, infusing new variability into the Asia-Pacific markets.

INTENDED AUDIENCE
This study reviews industrial boiler technology categories, along with relevant market and production information, technological descriptions and issues, applications, and market factors and potential. It also provides an overview of relevant incentives and regulations in major global markets. This study will be of interest to current and potential manufacturers and suppliers of industrial boilers, entrepreneurs and entrepreneurial companies interested in entering or expanding into the industrial boiler technology sector. It will also be of interest to corporate planners and strategists; boiler research and development strategists; engineering, procurement; and contracting (EPC) firms involved in the development and installation of large industrial boilers, boiler industry groups, and other public and private sector interest groups and market analysts.

SCOPE OF REPORT
The scope of this investigation includes major industrial boiler categories installed across all scales and facets of industrial production. Industrial boilers provide heat or steam to a wide array of manufacturing processes, raw materials production, chemicals production, refining and an array of other processes on a global basis. Specific technology categories comprise all industrial boiler sales within the regions considered in this report. Technology categories for which detailed market breakdowns are provided are shown in the following table. The report focuses on industrial boilers. Boilers used for utility-scale power generation, commercial boilers and residential boilers are not included.

INDUSTRIAL BOILER CATEGORIES CONSIDERED IN THIS REPORT
- Waterwall (steam)
- Watertube (steam)
- Firetube (steam)
- Fluidized bed (steam)
- Hot water boilers (all technologies)

The data presented, which are agnostic of fuel, include traditional fossil fuels (e.g., natural gas, coal, liquid fuels, petroleum coke), as well as alternative fuels (e.g., biomass, biogas). The market analysis is based on various data sources, including the most recent government, industry and corporate data on industrial boiler sales, production, imports and exports; manufacturing and industrial productivity data used to help gauge historic and anticipated future market growth; data generated by recent and ongoing research and development (R&D) efforts aimed at identifying new and developing niches for certain classes of industrial boilers, as well as potential for associated growth; and available corporate project announcements for major industrial boiler installations.

Boiler technology advances can be characterized by incremental change, as opposed to industry-shaping leaps. Emerging industrial boiler technologies that may become commercially viable within the next five years are summarized, but they are not included in the market assessment of this report. BCC Research analyzes each major viable industrial boiler technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry. Sales of both new and replacement or retrofit boilers are considered.

BCC Research analyzes the industrial boiler industry on a global basis in terms of its manufacturing and the deployment of its technologies or products. BCC Research also examines government roles in regulating global boiler emissions, and it identifies key laws and regulations that are expected to drive development of the replacement and retrofit markets through 2021. BCC Research also discusses recent trends and projections in terms of unit sales, as well as market sales values.

GLOBAL MARKETS CONSIDERED IN THIS STUDY
- North America: United States, Canada
- Europe: Germany, France, Italy, Russia, Rest of Europe
- Asia-Pacific: China, India, Japan, Rest of Asia

METHODOLOGY
Background information, including reviews of each industrial boiler category and technology, as well as its current rate of deployment, by region and nation as relevant, was collected from government, industry and corporate sources. Additional data were gathered from conversations with industry insiders, government officials, regulators and other players active in the global industrial boiler industry.

Data were compiled by the analyst for all national and regional markets considered. Available data were assessed by the analyst for gaps, underreporting, and other signs of inaccurate or missing information. Where information gaps or inaccuracies were identified, these were estimated using applicable and available benchmarking tools, including national- or regional-level changes in industrial productivity, where growth was assumed to correlate with growth in boilers markets, or where available, information regarding industrial greenhouse gas emissions largely due to boiler emissions or other industrial air quality emissions.

BCC Research’s study of present and historic market trends was conducted primarily via internet research and phone interviews, relying on available industry and government data, as well as information gathered from phone- and e-mail-based interviews. Internal company data and annual documentation of sales relevant to a particular boiler technology or sales category were also reviewed to prepare market assessments.

Based on the results of these surveys and research, BCC Research analyzed the potential applications for each technology, forecast remaining 2016 sales (generally for Q4, 2016 only) and sales through 2021. When available, the data provided in this report were compared with other industry data to ensure relevance, applicability and accuracy. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation.

INFORMATION SOURCES
Both primary and secondary research methods were used in the preparation of this report. BCC Research’s primary and secondary data collection efforts included various
targets, including manufacturers and distributors of industrial boilers, engineering firms, boiler industry groups, other industry analysts and researchers, and reports from government and nongovernmental organizations. The following table summarizes information sources for the major sections of this report.

ANALYST’S CREDENTIALS

Robert Eckard, PhD, has 15 years of experience working in the energy and environmental industries. Having completed his dissertation in water resources at the University of California at Davis, Robert also runs a small industry research and technical consulting company, with an emphasis on the energy, water and environmental sectors. Robert has provided economic analysis market assessments; environmental analysis; and technical water and energy reports to state and local governments, other consultants, and private companies and individuals throughout the U.S., as well as the Middle East, Southeast Asia and Australia.

He has also worked as a subcontractor under the U.S. Department of Energy, and he has provided evaluations of regional- and national-level industrial boiler markets and related supply markets for Fortune 500 firms, as well as companies looking to supply or provide services to industrial boiler end users. He has produced reports for BCC Research on the global markets for various energy- and water-related industries, including alternative natural gas extraction techniques, enhanced oil recovery, distributed power generation, energy-efficient building technologies, recycled wastewater treatment, and solar power generation and heating technologies.

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