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Asia Pacific industrial boilers market is estimated to account US$ 4.76 Bn in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period 2019 – 2027, to account to US$ 7.77 Bn by 2027.The growing disposable income of various developing countries, together with a high demand for adventure and use of caravans and motorhomes, has resulted in high demand for Industrial Boilers. Several caravan users are choosing tow bars for towing caravans; there are various types of tow bars available in the market to carry a wide variety of accessories. This factor is driving the Industrial Boilers market
The report covers profiles of top players that are functioning in the Asia Pacific Industrial Boilers Market:
AC Boilers S.p.A.,Babcock & Wilcox Enterprises, Inc.,Bharat Heavy Electrical Limited,Siemens AG,Dongfang Electric Corporation Limited,General Electric Company,Harbin Electric Company Limited,IHI Corporation,Thermax,Wood Group PLC
Asia Pacific Industrial Boilers Market Segmentation: By Types
Detachable Tow Bars, Retractable Tow Bars and Fixed Tow Bars
Asia Pacific Industrial Boilers Market Segmentation: By Applications
Diagnostics, Drug Discovery, Academic Research, Personalized Medicine and Agricultural
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APAC region is anticipated to be the fastest-growing region during the forecast period. Factors driving the Industrial Boilers market growth in this region such as increase in automotive production, higher density of vehicle accessory manufacturers including tow bars, and growing demand for commercial vehicles, among others. The rapid growth of automotive production in prominent economies across the APAC has contributed directly to the rising demand for the tow bar market in the automotive sector. For instance, electric vehicles and hybrid electric vehicles are gaining traction on the market. Thus, during the forecast period, the rapidly increasing adoption rates of electric and hybrid vehicles will drive the automotive tow bar market.
These factors are expected to offer broad growth opportunities in this is expected to cause the demand for Industrial Boilers in the market.
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