Boiler Control Market | Growth Drivers, Key Findings and Trends by Forecast to 2023
Boiler Control Market 2020 Report offers a professional and in-depth study on the current state of the Global Boiler Control Market along with competitive landscape, Boiler Control Market share and revenue forecasts 2023.
Boiler Control Market Scenario
The global boiler control market is expected to grow at 6.01% CAGR during the forecast period. Boilers are used to generate hot water and steam that is typically used in industrial processing plants and commercial complexes. These boilers require a control system to help in smooth functioning of the boiler by integrating control function of burner and maintain safety of the boiler with accurate fuel-air ratio. The boiler control system can be controlled in two ways, namely, modulating control and on/off control.
The advantages of boiler control include efficient energy use, reduction of running cost by operating more than one boiler at a time, and reduce the inefficiencies arising from excess air content in boiler process.
The growing demand for boiler control is attributed to the need for energy efficient equipment to save energy and achieve operational efficiency. Countries across the globe are focusing on investing in renewable power generation, natural gas fired power generation, and oil & gas sector to reduce carbon emission across the industries. One of the major restraints for the global boiler control market is upgrading cost of aging power plants.
Industry Segmentation
Global boiler control market has been segmented based on type, control type, component, end-user, and region.
Based on type, the market is classified into water-tube and fire-tube boiler.
Based on control type, the market is segmented as modulating and on/off. Modulating control segment is estimated to dominate the market during the forecast period due to its vast implementation in large power plants along with low energy losses resulting in larger market share during the forecast period. Considering the end-user segment, the market is segmented as industrial and commercial. Industrial segment is estimated to be the largest and fastest growing market during the forecast period.
The boiler control market has been segmented based on end-users into industrial and commercial. Among these types, industrial is the fastest growing segment in the boiler control market due to the rising demand for energy efficient control system for the smooth functioning of boiler and to maintain fuel to air ratio. Leading players in boiler control market such as ABB, Siemens, Cleaver-Brooks, Emerson, and others have signed contracts & agreements to provide their control system in power plants and process industries.
Leading Players
The key players of the global boiler control market are Honeywell (US), Emerson (US), ABB (Switzerland), Siemens (Germany), Schneider (France), Spirax Sarco (UK), Cleaver-Brooks (US), Yokogawa (Japan), HBX Control systems (Canada), and Burnham Commercial (US).
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Regional Outlook
Asia Pacific held the largest market share of the global boiler control market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment power generation and increased adoption of industrial internet of things. Moreover, rising urbanization and proliferation of electrification are expected to drive boiler control market in this region. China, India, and Australia are the leading countries, among others, which are likely to contribute to the growth of the boiler control market in Asia Pacific.
Scope of the Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global boiler control market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
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