The Latest Boiler Industry Statistics Explained
The global boiler market was valued at around $8.5 billion in 2018.
The statistic that the global boiler market was valued at around $8.5 billion in 2018 indicates the total worth of boiler sales and revenue generated within that market for the specified year. This figure represents the collective value of boilers sold worldwide in 2018, suggesting a significant demand for such products within various industries and sectors. The market valuation gives insight into the overall size and economic significance of the boiler industry, reflecting the level of investment, production, and consumption related to this particular technology during that period. It serves as a key indicator for assessing market trends, competition among manufacturers, technological advancements, and overall economic activity within the global boiler market.
The boiler industry is expected to grow at a CAGR of 5.7% from 2021 to 2028.
This statistic indicates that the boiler industry is projected to experience a Compound Annual Growth Rate (CAGR) of 5.7% over the period from 2021 to 2028. This implies that the industry’s revenue, production volume, or any other relevant metric is expected to increase by an average of 5.7% each year during this time frame. A CAGR is a useful measure for assessing the industry’s steady growth rate over multiple years, providing insight into its long-term performance and potential. This forecast suggests that the boiler industry is expected to expand steadily and hold promising opportunities for investment, innovation, and market development throughout the specified years.
The Asia Pacific dominated the market with a share of 37.8% in 2020.
This statistic indicates that the Asia Pacific region held the largest market share in a specific industry or market in 2020, accounting for 37.8% of the total market. This dominance suggests that companies or products from countries within the Asia Pacific region were the most prevalent or successful in that particular market during the specified time period. Factors contributing to this dominance could include favorable economic conditions, strong consumer demand, innovative technologies, or effective marketing strategies within the region, positioning it as a key player in the industry.
In 2019, the commercial segment accounted for 62.2% of the total market share.
The statistic indicates that in the year 2019, the commercial segment held a dominant position in the market, accounting for 62.2% of the total market share. This means that a significant majority of the market activity and sales came from commercial operations, which are businesses that engage in products and services aimed at other businesses or organizations rather than individual consumers. The high market share percentage suggests that commercial activities and transactions were a major driving force in the overall market dynamics for that year, indicating that businesses were the primary players influencing market trends and movements.
As of 2018, the boiler industry in the US accumulated a revenue of about $4.5 billion.
The statistic that in 2018, the boiler industry in the US generated approximately $4.5 billion in revenue signifies the significant economic contribution of this sector to the country. This figure reflects the total sales value of boilers, components, and related services within the industry during that year. The revenue generated highlights the demand for boilers in various sectors such as industrial, commercial, and residential applications, indicating the importance of boilers in providing heating and hot water services across different industries. The statistic also suggests the potential growth and investment opportunities within the boiler industry, emphasizing its role in supporting economic activities and infrastructure development in the United States.
The US boiler market is projected to grow at a rate of 3.3% from 2019 to 2025.
The statistic stating that the US boiler market is projected to grow at a rate of 3.3% from 2019 to 2025 signifies that the market for boilers in the United States is expected to expand steadily over the specified period. This growth rate of 3.3% implies that the market is forecasted to increase by that percentage annually, reflecting a positive trend in demand for boilers. Factors driving this growth could include technological advancements in boiler efficiency and sustainability, increasing industrial activities, and a rising emphasis on energy conservation. This projection provides valuable insights for stakeholders in the industry to make informed decisions related to investment, production, and marketing strategies to capitalize on the potential market expansion.
The Chinese boiler market accounted for over 35% of the global revenue in 2018.
The statistic “The Chinese boiler market accounted for over 35% of the global revenue in 2018” indicates that in 2018, China held a significant share of the total revenue generated in the worldwide boiler industry. This suggests that China played a dominant role in the global market for boilers, likely due to factors such as high demand for heating and industrial purposes, technological advancements, and a large manufacturing capacity. The statistic highlights China’s influence on the boiler industry and its position as a major player in driving revenue growth on a global scale.
Europe will observe significant growth due to ongoing investments toward the replacement of old boiler units.
The statistic stating that “Europe will observe significant growth due to ongoing investments toward the replacement of old boiler units” suggests that there is a prevailing trend of increasing investment in the replacement and upgrade of old boiler units across European countries. This investment is expected to drive economic growth in Europe, particularly within the energy sector, as the replacement of outdated boiler units can lead to increased energy efficiency, reduced emissions, and improved productivity. The emphasis on modernizing boiler units also indicates a commitment to sustainability and environmental responsibility, aligning with broader global efforts towards a cleaner and more efficient energy infrastructure. Overall, this statistic forecasts positive economic and environmental outcomes for Europe as a result of these ongoing investments in boiler unit replacements.
Germany accounted for over 10% of Europe’s boiler market share in 2016.
The statistic indicates that in 2016, Germany held a significant share of the boiler market in Europe, specifically over 10%. This means that Germany’s contribution to the European boiler market was substantial and had a noticeable impact on the overall market dynamics. Germany’s strong presence in the market suggests that the country is a key player in the industry, potentially due to factors such as technological innovation, manufacturing capabilities, and market demand within Germany and across Europe. This statistic underscores Germany’s dominance in the boiler sector within Europe and highlights the country’s importance in shaping the market landscape for this particular industry.
The global steam boiler systems market was valued at approximately $15 billion in 2016.
The statistic that the global steam boiler systems market was valued at approximately $15 billion in 2016 indicates the substantial size and economic importance of the steam boiler industry at that time. This value reflects the total market value of steam boiler systems in use across various industries worldwide. It suggests that there was significant demand for steam boiler systems in 2016, highlighting their widespread use in providing essential heating and power generation capabilities in industrial processes. This figure serves as a key indicator of the market’s size and potential economic impact, illustrating the significant investment and expenditure associated with steam boiler technology on a global scale.
The steam boiler system market is anticipated to grow to $20.0 billion by 2026.
The statistic ‘The steam boiler system market is anticipated to grow to $20.0 billion by 2026’ indicates that experts and analysts predict a significant increase in the market size of steam boiler systems within the specified timeframe. This growth projection suggests a positive trend in the demand for steam boiler systems, likely driven by factors such as industrial expansion, technological advancements, regulatory requirements, and the increasing focus on energy efficiency. The $20.0 billion market size by 2026 represents the expected total value of all steam boiler systems sold or installed during that year, reflecting opportunities for businesses operating in this sector to capitalize on the growing market demand.
The gas-fired boiler market was valued at $16.2 billion in 2020.
The statistic that the gas-fired boiler market was valued at $16.2 billion in 2020 represents the total estimated worth of gas-fired boilers sold within that specific market sector during that year. The value of the market is a sum total of all the revenues generated from the sales of gas-fired boilers by various manufacturers, suppliers, and retailers operating within the market. This figure is a key indicator of the size and economic importance of the gas-fired boiler industry, reflecting the demand for this type of heating equipment as well as the overall economic activity within the industry in 2020.
The total U.S. Boiler population is approximately 570,000 units with an aggregated capacity of 2.7 million MMBtu/hr.
The statistic provided states that there are approximately 570,000 boilers in the United States with a combined capacity to produce 2.7 million Million British Thermal Units per hour (MMBtu/hr). This information highlights the significant role that boilers play in providing heating and hot water across various sectors such as residential, commercial, and industrial. The large number of units and aggregated capacity indicate the substantial energy demand and consumption associated with boiler operations in the U.S., underscoring the importance of energy efficiency and emissions reduction measures in this sector. Understanding the size and scale of the boiler population can inform policymaking and decision-making processes related to energy planning, infrastructure development, and environmental sustainability efforts.
As of 2019, the UK held a significant share in the European boiler market.
The statistic “As of 2019, the UK held a significant share in the European boiler market” indicates that the United Kingdom had a notable proportion of the overall market for boilers within Europe in the specified year. This suggests that the UK was a key player in the region’s boiler industry, with a strong presence in terms of production, sales, or both. It implies that the UK likely had a competitive advantage in this sector compared to other European countries, potentially due to factors such as technological advancements, market demand, or innovation. This statistic highlights the UK’s importance and influence in the European boiler market landscape as of 2019.
In 2020, the oil-based systems held 20.5% of the global commercial boilers market in terms of volume.
The statistic implies that in 2020, oil-based systems accounted for 20.5% of the total volume of commercial boilers in the global market. This suggests that oil-based systems were a significant player in the commercial boiler industry during that time period compared to other types of systems. It reflects that a sizable portion of commercial boiler installations and usage worldwide relied on oil-based systems, potentially due to factors such as cost, availability, or existing infrastructure. Understanding the market share of different types of systems can provide insights into industry trends, consumer preferences, and the overall energy landscape.
The rise in energy demand influenced the boiler market size to exceed $50 billion in 2018.
The statistic suggests that an increase in energy demand had a significant impact on the size of the boiler market, leading it to surpass the $50 billion mark in the year 2018. This implies that the growing need for energy, likely driven by factors such as industrial expansion or population growth, has resulted in a greater demand for boilers to provide heating or power generation solutions. The rise in energy demand has contributed to the expansion of the boiler market, indicating a positive correlation between energy consumption trends and market size for boiler products and services. This statistic highlights the influence of macroeconomic factors on the growth and development of the boiler industry.
References
0. – https://www.www.grandviewresearch.com
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2. – https://www.www.fortunebusinessinsights.com
3. – https://www.www.verifiedmarketresearch.com
4. – https://www.www.persistencemarketresearch.com
5. – https://www.www.energy.gov
6. – https://www.www.marketsandmarkets.com
7. – https://www.mordorintelligence.com
