Mounting Pressure to Reduce Carbon Footprint Encourages Usage of Efficient Industrial Boilers
The increasing pressure on the chemical, metal, food, and several other manufacturing companies to reduce their carbon footprint is creating a lucrative growth opportunity for the industrial boilers market in the U.S. The recently stated guidelines by the Environmental Protection Agency (EPA) pertaining to air pollution levels from institutional, commercial, and industrial boilers is expected to lead to an investment in energy-efficient boilers. This supportive groundwork is also expected to push the opportunity of the industrial boilers market.
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East North Central Region Spearheads Overall Market
In terms of regions, the East North Central region witnessed a surge in the number of industrial boiler installations in 2018. In the same year, the region accounted for about 30% of the total market. In the coming few years, this regional market is expected to experience tremendous rise in manufacturing activities and industrial growth. Citing these reasons, the East North Central region will see the highest demand of industrial boilers in the forecast period. The strong presence of metal, chemical, and food companies in Michigan and Illinois will also present ample of growth opportunities to the industrial boilers market in the U.S.
Petroleum Industries in West South Central Region Keep Up the Demand for Industrial Boilers
The next big geographical segment in the U.S. industrial boilers market is the West South Central. As of 2018, this region held around 18% share in the total market. Researchers predict that the rise of this regional segment will be due to the growth of fabricated metal and petroleum industries in Oklahoma. Studies also point out that the maximum installed industrial boilers are of 300 BHP capacity due to the presence of primary metals, food processing, and petroleum industries.
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South Atlantic Emerges as Third Key Contributor to the Market
The South Atlantic region of the U.S. industrial boiler market was registered as the third largest key contributor to the revenues of the overall market. As of 2018, this region held a share of around 15% in the overall market. The burgeoning chemical and paper industries of South Atlantic are expected to drive this market in the coming years.
The industrial boilers market in the U.S. will also be driven by the rising fuel costs that account for about 85% of the total cost of operations of boilers. In wake of exorbitantly rising fuel costs, the preference of end-user industries is likely to shift towards energy and fuel-efficient boilers. The modern boilers are known to bring down emissions of harmful gases such as CO, CO2, VOC, and NOX. The economic recovery of the U.S. and the rising capital investments are also expected to propel this market.
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Players take Product Differentiation Seriously to Gain Competitive Advantage
Some of the leading players operating in the U.S. industrial boilers market are
- Cleaver-Brooks, Inc.
- Johnston Boiler Company
- Fulton Boiler Works, Inc.
- Clayton Industries Inc.
- Columbia Boiler Company
- Hurst Boiler & Welding Company, Inc.
- P.M.
The competitive landscape in the U.S. industrial boilers market is fragmented with players trying to secure a larger consumer base through strategic alliances. However, companies are increasingly working on technological innovation and establishing product differentiation to create a niche.
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