China Industrial Boilers Market Anticipated to rise at a CAGR of 6.5% over the Forecast Period 2019-2025

China industrial boilers market attained a value of $749.8m in 2018 and is anticipated to rise at a CAGR of 6.5%, over the forecast period 2019-2025.

(industrietreff) - Heating is a ceaseless phenomenon in the industrial processes. Industrial boilers play a major role in the intermediate process of heating in industries. These boilers cost significant financial investments for a company. Simultaneously, China’s environmental crisis which is rising with its urbanization is pressurizing the boiler industry players to maintain sustainable practices. Besides, the recent five-year plan of China took environmental sustainability as one of its key components of development strategy. These efforts are bringing tremendous transformations in heating systems of China. Their efforts are replicating in the R&D activities of heating systems including the industrial boiler market. Therefore, the entire boiler matrix is experiencing commercialization and is ascending at an exponential rate from the past few years. On the whole, these endeavors are boosting the China industrial boilers market growth.

China industrial boilers market attained a value of $749.8m in 2018 and is anticipated to rise at a CAGR of 6.5%, over the forecast period 2019-2025.

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IIoT Boosting the Growth of the Smart Boilers Market in China

China’s government acts as a driving force in leading the country’s innovations including the adoption of Industrial Internet of Things (IIoT). In 2015, the government strategized an initiative called “Made in China 2025” to prioritize the innovations in the manufacturing sector including IoT, power electronics, and smart appliances. This strategy will transform the country from a “manufacturing big house” to a “manufacturing super house” during the foreseen period. Furthermore, these IoT solutions in the industrial sector of China are enabling the boilers to establish connectivity with their management systems. Industrial boilers operate at high temperature and can explode, if not monitored. These explosions trigger hazardous consequences. Subsequently, controlling and maintaining these systems are prominent for users. Therefore, IoT connected boilers equipped with heat-imaging sensors enable the management to collect and monitor temperature, and enhance efficiency. Besides, these sensors help to identify predictive failures effectively. This, in turn, reduces the costs of unexpected failures of boilers. As a result, these IoT enabled smart boilers are gaining customer’s attention thereby constituting China’s industrial boilers market growth.

Environmental Policies of China Curbing Emissions of the Industrial Boilers Market

China’s environmental challenges are devastating its land and resources. On the other hand, China, the U.S, and India collectively account for 70% of rising energy demands around the world, according to the International Energy Agency (IEA).Therefore, the country is adopting renewable heating system technologies that include wood burning boilers, solar water heaters, and geothermal ground heat pumps, which are encompassing the residential and industrial sectors. The emission policies of China are trying to strike a balance between residential or industrial emissions and environmental challenges. While the efforts are achieved successfully, decentralization of these activities is equally observed among the state governments to uphold the environmental policies. As part of these activities, the Beijing Municipal Environmental Protection Bureau in 2016, announced that it would provide subsidies in order to encourage renovation of boilers. This new policy reduce harmful emissions of nitrogen oxides while improving the air quality. With this policy, the government can curb nitrogen emissions effectively and nearly 10,000 tons of nitrogen oxide is eliminated from the environment. These instances are promoting the maintenance and operation of boilers along with environmental balance.

The China CFBC Boilers Market Advancing with the Synergy between R&D and Government

Circulating fluidized-bed combustion (CFBC) technology allow significant benefits to industrial boilers over its peers. These CFBC boilers are supported by power plant owners and developers as they cost less and can work with low-grade fuels effectively. These boilers are gaining huge traction in the Pacific Rim, especially in China, as they are environmental-friendly and offer higher combustion efficiency. Furthermore, CFBC technological advancements are expanding in China to enhance energy-efficiency using fuels such as industrial waste, wood-based biomass, and low-grade coal.

This state-of-the-art technology excels in operational parameters of boilers, thereby making the CFBC R&D activities eminent in the field. Furthermore, the synergy between different government programs is offering opportunities to technological alliance of manufacturers and research universities. As a result, these activities are augmenting the growth of the CFBC boilers market in the industrial sector of China.

Chemical Industry Catalyzing the Industrial Boilers Market Growth in China

The chemical industry consist of large boilers to ensure heat and electricity supply during the entire process. The industry makes use of diverse sources such as natural gas, fuel, and other vent gases along with a significant part of co-firing of coal and biomass boilers. China’s fast-growing chemical industry is one of the largest in the entire world in terms of revenue. The growth of China’s chemical sector continues to outpace other countries’ chemical industries. According to the International Council of Chemical Associations (ICCA), globally, APAC is the largest GDP contributor to the chemical industry and accounted for $2.6 trillion total GDP contribution. Furthermore, China led the lane with a contribution worth $1.5 trillion in GDP. Besides, the country hosts the powerhouse for the world’s largest chemical R&D, with an investment of about $14.6 billion in 2017. With these dynamic growth prospects, the China industrial boilers market sales are strengthening the chemical industry.

Wide applications in the Food and Beverage Segment Set to Disrupt the China Industrial Boilers Market Growth

In the food and beverage industry, the applications of industrial boilers are indispensable. With the growing population demand, the China industrial boilers market are observing high growth in the food and beverage industry growing at a CAGR of 8.5% over the forecast period. The food and beverage sector needs heat generation at every stage of food processing. Within the industry, the industrial boilers are used for cooking, drying, sterilizing, concentrating liquid foods, power and electricity generation in some facilities. Besides, steam generated by boilers also eliminates the microbiological risk in food. Subsequently, wide applications in the food and beverage industry are driving the growth of the China industrial boilers market.

Key Players in the China Industrial Boilers Market

The core companies functioning with a dominant share in the China industrial boilers market are Dongfang Boiler Group Co. Ltd., Forbes Marshall, Harbin Electric Company Limited, IHI Corporation, Siemens AG, Mitsubishi Motors Corporation, Rentech Boiler Systems Inc., Zhengzhou Boiler Co., Ltd., Fulton, Doosan Group, Babcock & Wilcox Enterprises Inc., and Amec Foster Wheeler plc.

In China, the thermal industries are experiencing huge profits with the country’s rapid industrialization and urbanization. With the government environmental policies ruling the advancements in the boilers industry, the demand for clean and energy-efficient heating technologies are growing in the China industrial boilers sector. In 2019, Valmet Oyj, a Finnish-based supplier of automation and technologies, provided boiler diagnostics systems to Harbin Boiler Co., Ltd. of China. These systems are installed as a part of automation portfolio in Fugu power plant. These boiler diagnostic systems improve the heat transfer rate by balancing combustion. Besides, they provide instant, spatially averaged temperatures with high accuracy and reduce emissions considerably. These types of installations are gaining popularity in the industrial boilers market of China.

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Datum: 16.03.2020 - 10:42 Uhr
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