Market Synopsis of Europe Boiler System
Europe Boiler is a pressure vessel that is used to create and supply steam required for various processes within industries. Significant growth in the food processing sector is the key driver of the market. The steady rise in adoption of green fuels for industrial boilers, across the globe, is also increasing the demand for industrial boiler market. However market growth is hampered by high costs associated with boiler maintenance. The Europe boiler system market is expected to reach USD 3573.6 million by 2022, growing at 4.70% CAGR.
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The Europe boiler system market is segmented on the basis of type, capacity, and country. On the basis of type, the market has been segmented into oil fired and gas fired. Gas fired segment is expected to grow with the highest CAGR of 4.92% during the forecast period. boiler Market categorization based on capacity includes segments upto 20 tonnes, 20 to 40 tonnes and 40 to 50 tonnes. 20 to 40 tonnes held the largest share, and is expected to grow at 5% CAGR within the market during the forecast period. To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
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Regional Analysis of Europe Boiler System Market
Germany dominates the Europe boiler system market with 24% share in 2015, in terms of value. It is expected to grow at a CAGR of 4.84% during the forecast period. The U.K. market is expected to grow at 4.59% CAGR during the forecast period to reach USD 703.9 million by 2022. Italy boiler system market accounts for 17% market share and is expected to grow at a CAGR of 4.68% during the forecast period. Spain boiler system market size is expected to grow from USD 242.6 million in 2015 to USD 428.3 million by 2022.