Market Research Future published a raw research report Global Boiler Control Market that contains the information from 2018 to 2023. The Global Boiler Control Market is expected to grow at 6.01% CAGR from 2018 to 2023.
Boilers are used to generate hot water and steam that is typically used in industrial processing plants and commercial complexes. These boilers require a control system to help in smooth functioning of the boiler by integrating control function of burner and maintain safety of the boiler with accurate fuel-air ratio. The boiler control system can be controlled in two ways, namely, modulating control and on/off control. The boiler control system includes hardware as well as software components. It integrates the functions of a programmable controller and burner management controller along with boiler operating and ancillary control.
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The growing demand for boiler control is attributed to the need for energy efficient equipment to save energy and achieve operational efficiency. Countries across the globe are focusing on investing in renewable power generation, natural gas fired power generation, and oil & gas sector to reduce carbon emission across the industries. One of the major restraints for the global boiler control market is upgrading cost of aging power plants.
The global boiler control market has been segmented based on type, control type, component, end-user, and region.
Based on control type, the market is segmented as modulating and on/off. Modulating control segment is estimated to dominate the market during the forecast period due to its vast implementation in large power plants along with low energy losses resulting in larger market share during the forecast period. Considering the end-user segment, the market is segmented as industrial and commercial. Industrial segment is estimated to be the largest and fastest growing market during the forecast period. This is due to the rapid growth of population in developing countries such as Saudi Arabia, Qatar, India, and others. An increasing focus on replacement of aging power plants with new efficient control systems along with implementing artificial intelligence in boiler control systems in the power sector to track parameters such as temperature, flame shape, and reduction of carbon footprint are the major drivers of the industrial segment.
The boiler control market has been segmented based on end-users into industrial and commercial. Among these types, industrial is the fastest growing segment in the boiler control market due to the rising demand for energy efficient control system for the smooth functioning of boiler and to maintain fuel to air ratio.
Region wise, Asia Pacific held the largest market share of the global boiler control market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment power generation and increased adoption of industrial internet of things. Moreover, rising urbanization and proliferation of electrification are expected to drive boiler control market in this region. China, India, and Australia are the leading countries, among others, which are likely to contribute to the growth of the boiler control market in Asia Pacific.
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
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