New York, NY, June 20, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Boiler Control Market by Boiler Type (Water Tube Boiler and Fire Tube Boiler), by Component (Hardware, and Software), by Control Type (Modulating and On/Off), and By End-Use Industry (Industrial, Commercial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global boiler control market accounted for USD 1.8 billion in 2018 and is expected to reach around USD 2.72 billion globally by 2025, at a CAGR of 6.1% between 2019 and 2025.
Boiler control is a system that facilitates a boiler to fire and offers a set point to monitor operations, blending valves, pumps, and alarms. A boiler control is designed to work safely and efficiently by offering superior flexibility in plant management and control along with minimizing operating costs. These boiler control systems are utilized to maintain operational situations in industrial and commercial end-user industries.
Browse through 139 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Boiler Control Market Size 2018: By Type, Industry Share, Demand, Growth, Segments, Analysis and Forecast to 2025”.
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The global boiler control market is likely to experience significant growth in the future, owing to the increased power generation capacities of the power generation industry. The rising inclination toward boiler control due to its efficiency and declining production costs are expected to fuel the global boiler control market over the forecast time period. Rising R&D investments of innovative products with changing consumer demands are also expected to propel the global boiler control market in the years to come. However, the lack of standardization of protocols and huge costs of upgradation of aging power plants may hamper the global boiler control market development. Alternatively, the escalating demand for IoT and Industry 4.0 architecture by industries in emerging countries is likely to offer new market opportunities.
The global boiler control market is fragmented into boiler type, control type, component, and end-use industry. On the basis of boiler type, the global boiler control market includes fire tube boiler and water tube boiler. In 2018, the water tube boiler segment dominated the market and held a major share of the boiler control marker globally. By component, the global boiler control market includes hardware and software. The software segment is projected to be the fastest growing in the boiler control market over the forecast timeframe. The control type segment includes modulating and on/off. Based on end-use industry, the global boiler control market is fragmented into industrial, commercial, and others. The industrial segment is anticipated to hold the largest share of the boiler control market over the forecast time period.
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In 2018, Asia Pacific was the largest boiler control market and accounted for more than 35% share globally. This growth can be mainly attributed to the rising urbanization and proliferation of electrification across the region. Moreover, the Asia Pacific region is anticipated to be the fastest growing market for boiler control over the next few years, owing to the increasing demand for boiler control especially from industrial and commercial end-use industries. China, India, Japan, and Australia are prime markets for boiler control in the region, due to the rising demand for power generation sector owing to the increased power generation capacities, growing renewable energy sources trends, and increasing demand for power generation. As the rising domestic demand and easy access to resources, Asia Pacific has emerged as one of the leading producers as well as consumers of boiler controls.
North America is a well-matured boiler control market, as boiler controls are used in advanced safety systems in various end-user industries. Technological progressions in several process industries require up-gradation and replacement of old boilers. In North America, the rising maintenance servicing necessities is also anticipated to escalate the growth of the boiler control market in the upcoming years. Moreover, investments in digital technologies in power plants are witnessing astronomical growth due to the increasing boiler control usage for improving hygiene.
Browse the full “Boiler Control Market by Boiler Type (Water Tube Boiler and Fire Tube Boiler), by Component (Hardware, and Software), by Control Type (Modulating and On/Off), and By End-Use Industry (Industrial, Commercial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/boiler-control-market
The European boiler control market is driven by rising investments made for the refurbishment of existing infrastructure and increasing demand for power generation sector. In terms of revenue, Europe is projected to account for moderate growth in the boiler control market over the next coming years. The rising developments of new commercial centers activities and growing disposable income are boosting the demand for efficient commercial boiler control systems. Moreover, the increasing customer awareness and rising number of stringent efficiency rules and regulations are also anticipated to drive the European boiler control market in the future.
Latin America and the Middle East and Africa are anticipated to experience moderate growth in the boiler control market in the upcoming years, owing to the significant investments made by the top companies for boiler control projects in these regions.
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The major players of the global boiler control market are Siemens, ABB, Yokogawa, Emerson, Honeywell International, Schneider, Spirax-Sarco, Cleaver-Brooks, Burnham Commercial, HBX Control, Micromod Automation, and Weil-Mclain.
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This report segments the global boiler control market into:
Global Boiler Control Market: Boiler Type Analysis
- Water Tube Boiler
- Fire Tube Boiler
Global Boiler Control Market: Component Analysis
- Hardware
- Software
Global Boiler Control Market: Control Type Analysis
- Modulating
- On/Off
Global Boiler Control Market: End-Use Industry Analysis
- Industrial
- Commercial
- Others
Global Boiler Control Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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