Boilers

The boiler industry is set to witness an upsurge on account of stringent regulatory norms to limit carbon emissions and surging replacement of conventional steam generating units with energy efficient systems. The replacement of the age-old units is a prominent trend across the regions where the age of boiler stock is near or over the average operating life. The product offers key advantages including low operational costs, increased comfort and reduced energy costs, accelerating the industry potential. In addition, the efficiency index of the domestic boiler ranges up to 90% without dropping any heat in line with more safety and low carbon footprints.

The boilers are bifurcated into two types, one that produces hot water and other that offers steam, which is later used to carry out the heating process. The natural gas, oil, and coal have been utilized as the primary fuels to operate boilers over the years, however, with the ongoing innovations electric fired boilers are also gaining traction across various applications. The key market players are focusing on transformation of their manufacturing operations by integrating automation and robotics to maximize space, reduce labor costs, and optimize production time, which indicates significant opportunities for the industry in the near term.

Drivers:

• Robust participation of private players in line with government initiatives toward the expansion & development of commercial and industrial establishments.
• Shifting consumer focus toward the adoption of advanced space and water heating systems along with favorable government tax incentives.
• Increasing applicability across healthcare, chemical, pulp & paper, and refinery establishments.
• Increasing concerns pertaining to greenhouse gas emissions coupled with achieving high energy efficiency have compelled the regulators to form stringent norms, which in turn will stimulate the demand for boilers.
• Increasing need for space heating primarily across the residential and commercial buildings coupled with extreme climatic conditions across certain regions.
• The growing consumer awareness & environmental constraints favored by regulatory reforms to encourage the installation of efficient and reliable heating systems.
• Robust industrialization along with extensive investments by public & private players toward the expansion of manufacturing facilities.