The boiler control market is projected to grow at a CAGR of 6.09%, from 2018 to 2023
LONDON, July 10, 2018 /PRNewswire/ -- The boiler control market is projected to grow at a CAGR of 6.09%, from 2018 to 2023.
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The boiler control market is projected to grow from an estimated USD 1.80 billion in 2018 to USD 2.42 billion by 2023, at a CAGR of 6.09%, from 2018 to 2023. Increasing investments in the digital technologies in power plants globally, increased adoption of Industrial Internet of Things for real-time decision-making, and growing focus on energy saving control systems to reduce carbon emissions are driving the market for boiler control systems across the world. High upgrading cost of aging power plants is likely to act as a restraint for the boiler control market.
The modulating segment accounts for the largest share of the boiler control market, by control type, during the forecast period.
The modulating segment is expected to be the largest, by control type, from 2018 to 2023. The factors driving the market for boiler control systems with a modulating type of control include vast implementation of boiler control systems with modulating control in large power plants in the power generation industry, along with low energy losses resulting in larger market share during the forecast period.
Asia Pacific: The largest market for boiler control.
Asia Pacific is expected to be the largest market for boiler control systems in 2018, followed by North America and Europe.China and India are expected to be the largest markets for boiler control systems in the region because of significant investments being made in power generation and process industries.
North America is the second largest market for boiler control systems, followed by Europe and the Middle East.Increasing investments in aging power plants and growing focus on energy efficiency equipment in the industrial sector are likely to boost the demand for boiler control systems.
The boiler control market is also growing at a good pace in countries such as the US, Australia, and Germany because of increasing investments in renewable power generation, natural gas fired power generation, and the oil & gas sector.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
-- By Company Type: Tier 1- 70%, Tier 2- 25%, Tier 3- 5%
-- By Designation: C-Level- 25%, D-Level- 40%, Others- 35%
By Region: North America- 25%, Europe- 20%, Asia Pacific- 50%, South America- 5%, Middle East & Africa- 20%.
Note: The tier of the companies has been defined based on their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The leading players in the boiler control market are Siemens (Germany), ABB (Switzerland), Cleaver-Brooks (US), Yokogawa (Japan), Schneider (France), and Emerson (US).
Research Coverage:
The report provides a picture of the boiler control market across the boiler industry globally.It aims at estimating the market size and future growth potential of the market across different segments such as boiler type, control type, component, end-user, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
The report provides insights on the following pointers:
-- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the boiler control market
-- Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for boiler control systems across regions
-- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global boiler control market
Why Buy this Report?
1. The report identifies and addresses key markets for the implementation of boiler control products in various industries, which would help manufacturers review the growth in demand.
2. The report would help solutions providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
3. The report would help key players understand the strategies of their competitors better and will help in making strategic decisions.
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