The use of boiler systems has intensified in the past few years due to the rise in the heating requirements in buildings around the world. Market reports linked to the industrial automation & equipment industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to reach USD 3,573.6 million in revenues in the duration of the forecast period.
The growing demand for central heating which has become a necessity is spurring high growth in the boiler system market in the European region. The convenience offered by boiler systems and upgradation in the features is boosting the market expansion. Substantial development in the food processing sector due to rising food demand is increasing the impetus for growth in the market. Furthermore, the demand for clean energy sources is gaining momentum which will boost market expansion over the forecast period.
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The segmentation of the Europe boiler system market is carried out on the basis of type, capacity, and countries. On the basis of Type, the Europe boiler system market consists of Gas Fired and Oil Fired. The market segmentation on the basis of capacity consists of 20 to 40 Tonnes, upto 20 Tonnes and 40 to 50 Tonnes. The countries included in the market comprise of Italy, Germany, Spain, U.K., Poland, France and Holland.
Detailed Regional Analysis
The regional analysis of the market consists of countries such as Italy, Germany, Spain, U.K., Poland, France and Holland. It has been observed that Germany controls the market with 24% of share in 2015, in terms of value. It is anticipated to expand at a 4.84% CAGR during the forecast period. The increasing demand for clean energy sources is anticipated to drive the market in the region. While the U.K. is anticipated to expand at a 4.59% CAGR and achieve a market size of USD 703.9 million by 2022.
The background for growth plans has equipped the market for potential new entrants. The improvement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The progress patterns are revised in tandem to the customer preferences to realize maximum growth, and in the long run, profitability. The progress in the products and services is the foremost factor growing the market's productivity and controlling the trends that are acquiring standing in the market. The critical success factors and players’ tendencies are gradually escalating by the strategies being used by market contenders. The changes seen in terms of strategy execution and creation are varying the expansion pace of the market. The deficits in the market are filled due to the implementation of suitable supply chain strategies.
The competitors such as Bosch Industriekessel (Germany), Babcock & Wilcox Enterprises, Inc. (U.S.), Byworth Boilers (U.K.), ATTSU Termica (Spain), AC Boilers S.p.A (Italy), Proodos Industrial Boilers (Greece), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Danstoker Boilers (Denmark), Rentech Boilers (U.S.), and Siemens AG (Germany) are some of the important competitors functioning in the Europe boiler system market.
October 2018 UK based organic waste firm, Tidy Planet, is utilizing Spanish industrial heater Specialist, SUGIMAT’s Artificial Vision System (AVS) technology of new intelligent boiler monitoring for the first time. The new technology can effectively regulate air flow, grate movement and fuel feed to enhance the environment for highest heat output and fuel efficiency, as well as reduce emissions.
Jan 2018 New York City will spend $200 million to upgrade aging boiler systems in public-housing projects. Around $81.9 million of the money will go to purchase 39 new boilers at 10 housing developments across the city during the next four years. Another $73.9 million will go to heating-system upgrades at 12 developments, and $26.6 million to install temperature controls in the boiler systems at 15 developments.
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