Cleaver-Brooks (US) and Yokogawa (Japan) are the Major Players in the Boiler Control Market
The global boiler control market is projected to reach USD 2.42 billion by 2023, at a CAGR of 6.09%, from 2018 to 2023. This market growth is primarily driven by the growth in the power generation sector, emphasis on energy-efficient control system, and growing electrification of energy.
Asia Pacific is likely to continue being the largest market for boiler control systems, followed by North America, during the forecast period. The global market is dominated by major players, including Siemens (Germany), ABB (Switzerland), Cleaver-Brooks (US), Schneider (France), Emerson (US), and Yokogawa (Japan).
The market growth strategies adopted by the key players in the boiler control market include contracts & agreements, new product launches, expansions & investments, mergers & acquisitions, and partnerships. New product launches was the most commonly adopted strategy by market players from May 2014 to April 2018. Industry players also entered into contracts & agreements in the stated period from 2014 to 2018.
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Cleaver-Brooks is one of the leading providers of complete boiler room solutions. It delivers packaged boilers, controls, and boiler room equipment. The company has 5 business units, namely, packaged boiler systems, engineered boiler systems, packaged burner systems, exhaust solutions, and aftermarket solutions. It offers boiler control solutions under engineered boiler systems, packaged boiler systems, and packaged burner systems units. The company has adopted new product launch as its key strategy to gain a larger share of the boiler control market. In December 2017, Cleaver-Brooks launched its new Configured Water Tube Boiler (CBCW), for the industrial end-users, which includes integrated boiler and control systems.
Yokogawa is one of the leading manufacturers of industrial automation and control equipment and test and measurement equipment. The company provides boiler control solution under its industrial automation and control segment. The company adopted contracts & agreements and new product launches as its growth strategies to maintain its market position. In January 2017, the company received an order to supply its CENTUM VP integrated control system for the boiler, turbine governor, turbine protection system, and desalination plants for a desalination plant in the UAE. Later, in March 2017, the company launched the new version of CENTUM® VP integrated production control system. This integrated production control system includes a new Input/Output (IO) module.
Related Reports:
Boiler Control Market by Boiler Type (Water tube boiler and Fire tube boiler), Control Type (Modulating control and On/Off control), Component (Hardware and Software), End-User (Industrial and Commercial), and Region - Global Forecast to 2023
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