Low Pressure Boilers Market: Introduction
A boiler is an equipment designed to transfer heat to a fluid (water, natural gas, oil, etc.) until it is suitable for use. This heat is transferred in an enclosed chamber or container. The heated, warm and vaporized fluid that comes out from a boiler can be used for various applications, including power generation, central heating, cooking, laundry and sanitation. On the basis of pressure, there are two types of boilers, namely high pressure and low-pressure boilers and the major difference between the two is the amount of pressure per square inch or pounds per square inch gauge that the boiler produces. A low-pressure boiler exerts a maximum pressure of 160 pounds per square inch for water and 15 pounds per square inch for steam. In recent times, low-pressure boilers are being used extensively in construction, which are designed to heat the room through radiators. These types of buildings include schools, offices, hospitals, restaurants. They are also used to heat water for bathrooms as well as to create steam and heat rooms in buildings in cold countries.
Low Pressure Boilers Market: Dynamics
Growth in industrialization and automation in many countries is one of the major drivers for the global low-pressure boilers market. Moreover, growing demand for efficient heating solutions with reduced operational cost will trigger the replacement of previously mounted heating systems in industrial as well as residential applications. This will impact the growth of the global low-pressure boiler market positively during the forecast period. Also, factors, such as increasing expenditure in the food & beverage processing industry, rise in the installation of energy-efficient heating systems and decreasing dependency on fossil fuels, are driving the global market for low-pressure boilers.
However, low-pressure boilers are expensive and their complex arrangement requires skilled labour. Moreover, the design and arrangement also vary from industry to industry and depending on the requirement. This may restrain the growth of the low-pressure boilers market in the near future.
Low Pressure Boilers Market: Segmentation
Low Pressure Boilers Market: Regional Outlook
North America, followed by Asia Pacific, holds a major share in the global casted low-pressure boiler market, owing to the presence of various end user industries in this region. North America and Asia Pacific are estimated to hold almost half the total share of the global low pressure boiler market. Europe and North America are projected to be major consumers, owing to the presence of established OEM players in this region. However, Asia Pacific is expected to show significant growth during the forecast period, owing to the growing demand from the dependent sector and government initiatives in countries, such as India and China, to promote manufacturing, which will also contribute towards the growth of this market. The rest of the world is estimated to account for a relatively small share of the low-pressure boilers market.
Low Pressure Boilers Market: Market Participants
Examples of some of the market participants operating across the value chain of the global low pressure boilers market are:
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