SAN ANTONIO, Nov. 29, 2017 (GLOBE NEWSWIRE) -- A new analysis by Verify Markets shows the North American Steam Boiler Rental Market was valued at $415.0 million in 2016 and is expected to experience moderate growth during the next seven years. During 2016, most of the boiler rental companies have experienced steady demand, mainly due to expansion of industrial facilities, increase in infrastructure spending, and as a back up during emergency situations.
As the economy grows, the demand of energy increases, subsequently driving the growth in the steam boiler rental industry. Due to the long lead times for new capital equipment as industrial facilities and businesses expand, they may choose to rent additional steam capacity and related solutions rather than lose productivity. Another stimulus for the market is the increase in infrastructure spending. A steam boiler plays a key role in the process of creating building materials. Construction companies demand boiler rental units for paving and roofing application.
In addition to the continued growth that the market has experienced in the last few years, there are some challenges that boiler rental companies must overcome in the short and medium-term. Even though pollution requirements are encouraging the replacement (or retrofit) of installed steam boilers, challenges include boosting the demand for rental boilers during downtime, environmental requirements, and site permitting, which increases rental costs. In addition, regulations are not consistent among all states, making the permitting process difficult.
Secondly, boiler rental cost is an important factor to take into consideration when companies need to replace, maintain, or repair their existing boilers. During periods of low costumer demand, companies might consider it cost-effective to limit their production capacity during boiler shut down rather renting a boiler to supplement the steam capacity. Lastly, some market participants have stated that they are having increasingly difficulties to find skilled workers.
The North American Steam Boiler Rental Market report has been segmented by type of boiler, end user and fuel. Main customers include industrial, institutional, commercial, and utilities. For 2016, the industrial applications comprised more than 70 percent of overall market share. Based on type, the water tube segment is estimated to lead the industrial boilers market in 2016 with more than 50 percent of the share.
Some of the key companies covered in this report include Wabash Power Equipment Co., Nationwide Boiler Inc., Indeck Power Equipment Co., Powerhouse Equipment & Engineering Co. Inc., and Cleaver-Brooks Sales and Service, Inc., among others. This report provides an in-depth analysis of the overall North American Steam Boiler Rental Market. The report captures various market dynamics such as growth drivers, restraints, market revenues and forecast, technology trends and competitive landscape.
A copy of the North American Steam Boiler Rental Market research report can be obtained at www.verifymarkets.com. For more information, you can reach out to us at info@verifymarkets.com. For more updates, follow us on twitter @verify_markets. This report is part of Verify Markets’ Power & Machinery market research and consulting practice. Other rental market reports include:
- North American Temporary Heating Market
- North American Temporary Cooling Market
- North American Air Compressor Rental Market
- North American Electrical Distribution Equipment Rental Market
- North American Power Rental Market
- Latin American Power Rental Market
- European Power Rental Market
Our research methodology consists of extensive primary interviews with key participants in the market along with secondary sources to validate our information. For more information on this report and other research (including custom reports and consulting), contact info@verifymarkets.com or call 210.595.6987.
Contact: Haley Rico
Phone: 210-595-9687
Email: haley@verifymarkets.com