Boiler Control Solutions Market - Overview
The global boiler control market, as per Market
Research Future (MRFR), is expected to grow at 6.01% CAGR during the forecast
period. The boiler control market is set to observe growth due to the growing
need for energy efficiency equipment to regulate steam and water
pressure. organizations are planning to increase investments in energy
efficiency and overall smart cities for energy security, energy cost savings,
and greenhouse gas footprint reduction. These initiatives are likely to result
in a high demand for a boiler control system in various industries and
commercial areas. The Boiler
Control Solutions Market is
poised to grow at a high rate during the review period, principally due to the
growing demand for boiler control due to more emphasis on energy efficiency.
Massive investments are being made in digital technologies in power plants with
the adoption of the Industrial Internet of Things for real-time decision
making. Therefore, the market for energy-saving control systems such as boiler
control would increase in order to reduce carbon emissions and maintain energy
efficiency.
Segmental Analysis
The global market boiler control systems have been
segmented on the basis of component, type, control type, and end-user.
The types of boilers offered in the market are
fire-tube and water-tube boilers. Among these, the water-tube boiler holds a
comparatively more significant market share, owing to its applications in
industries including metal and mining, chemical, power generation, and oil and
gas, to produce steam on a considerable scale.
By the control
type, the market has been bifurcated into modular and on/off. The modular
segment is projected to dominate the market share over the review period,
driven by its extensive adoption in large power plants along with low energy
losses.
The end-users operating in the boiler control
solutions market is industrial and commercial. The industrial segment is
accounted for as the most significant and fastest-growing segment during the
assessment period. This growth is attributed to the broader scope of
applications of boiler control systems in the industrial sector, along with the
growing efforts being taken towards the expansion and development of the
industrial sector in developing countries.
Regional Analysis
By the region, the global boiler control solutions market
is segmented into the Asia Pacific, North America, Europe, and the rest of the
world.
Among these, the North American market for boiler
control systems is slated to register the largest market share, owing to the
growing need for power generation in the region. Furthermore, the governments
of the developed countries in the region, such as the US and Canada, are
investing expansively towards energy efficiency and the importance of renewable
energy sources. The presence of established industries and market players for
energy and power, mining, among others, also contribute towards the increasing
demand for boiler control systems in the region. These factors create favorable
conditions for the growth of the North American boiler control market over the review
period.
The Asia Pacific is one of the substantial regions in
the global boiler control market and is projected to observe the highest growth
over the review period. This is primarily attributed to the growing government
investments towards power generation in developing countries with population
growth such as India, Japan, China, among others. Additionally, the ever
increasing electrification, industrialization,and adoption of the Industrial
Internet of Things (IIoT) are projected to influence the demand for boiler
control systems and subsequently fuel the market growth.
Competitive Analysis
The key players of global boiler control market are
Emerson (US), HBX Control systems (Canada), Honeywell (US), ABB (Switzerland),
Schneider (France), Siemens (Germany), Spirax Sarco (UK), Yokogawa (Japan),
Cleaver-Brooks (US), and Burnham Commercial (US).
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