Boilers

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

• Study Reliability and Reporting Limitations I-1
• Disclaimers I-2
• Data Interpretation & Reporting Level I-2
• Quantitative Techniques & Analytics I-3
• Product Definitions and Scope of Study I-3
• Types Of Boiler Systems I-4
• Pressurized Fluidized-Bed Combustion Boilers (Pfbc) I-4
• Circulating Fluidized Bed (Cfb) Boilers I-4
• Pulverized-Coal (Pc) Boiler Systems I-4
• Low Emission Boiler System (Lebs) I-4
• Solid-Fuel Combustion Systems I-5
• Organic Fluid Heaters I-5
• Cyclone-Fired Boilers I-5
• Scotch Marine (Classic Fire-Tube Boiler) I-5
• Firebox Boilers I-5
• Commercial Water-Tube Boilers I-5
• Industrial Water-Tube Boilers I-5
• Electric Boilers I-6
• Other Boilers I-6

II. EXECUTIVE SUMMARY

1. Industry Overview II-1

• Market Outlook II-1
• Power Generation - A Key Driving Force II-1
• Fuel Diversification Spurs Growth II-2
• Asian Power Market Focuses on Supercritical Technology II-2
• CFB Boilers Witness Growing Demand II-2

2. Product Overview II-3

• Boiler Technology - A Historical Perspective II-3
• Constituents of a Boiler System II-3
• Types of Boiler Systems II-4
• Pressurized Fluidized-Bed Combustion Boilers (PFBC) II-4
• Circulating Fluidized Bed (CFB) Boilers II-5
• Pulverized-Coal (PC) Boiler Systems II-5
• Low Emission Boiler Systems (LEBS) II-6
• Firing System II-6
• Solid-Fuel Combustion Systems II-7
• Organic Fluid Heaters II-7
• Cyclone-Fired Boilers II-7
• Scotch Marine (Classic Fire-tube Boilers) II-8
• Firebox Boilers II-8
• Commercial Water-tube Boilers II-8
• Industrial Water-tube Boilers II-8
• Electric Boilers II-9
• Other Boilers II-9
• Industrial Boilers Vs Utility Boilers II-9

3. End Use Industries II-10

• Paper Industry II-10
• High Costs of Recovery Boilers II-10
• Heat Losses Generated by Heat Recovery Boilers II-10
• Options for Recovery Boiler Replacement II-10
• Application of Bio-Waste II-11
• Increased Capacity on Addition of an Overfire Air System II-11
• Power Consumption of Paper Mills II-11
• New Recovery Boiler Alternatives for Pulp and Paper Mills II-12
• Bubbling Fluidized Bed (BFB) Combustion Technology II-12
• Black Liquor Gasification II-12
• Use of CFD in Solving "Carryover" Problem II-13
• Boilers and Electric Power Generation II-13
• Importance of Operating Point II-14

4. Technology Overview II-15

• Steam Systems Vs Gas Systems II-15
• Replacements II-15
• Significance of Infrared Heating Systems II-15
• Room for Steam Systems II-16
• Repowering of Boiler Systems II-16
• Economically Viable Repowering Solutions II-16
• Cofiring II-17
• Advantages of Cofiring II-17
• Headway in Steam Generation Systems II-17
• Water Cooling Systems II-17
• Superheaters II-17
• Economizers II-18
• Stokers and Pulverizers II-18
• Other elements of Modern Steam Generator Design II-18
• Steam Generation Takes A New Direction II-19
• The Nineties and Beyond II-19

5. Regulatory Issues II-20

• Regulatory Overview in the US and Europe II-20
• Emissions Regulations in the US and Europe: A Comparison II-20
• Emission Problems & Solutions II-20
• Issues in Boiler Inspection & Insurance II-21
• Changes in Pressure Equipment Design Codes &Standards and Regulations II-21
• Burner Modification Technology II-21
• Emerging Deployment of Reburning Technology II-21

6. Product/Service Launches II-22

• Total Separation Solutions' Pyros Series 1 Heater II-22
• Saunier Duval Launches Isofast Condense F35e II-22
• Praxair' s Low-NOx Technology to Reduce Nox Emissions II-22
• BOC' s Lotox Technology Minimizes Smog-FormingPollutants II-23
• AI Introduces New Portable Combustion Analyzer II-23
• Krueger' s Waste Heat Boiler To Optimize Plant Energy II-23
• ADA-ES Unveils New Specialty Chemical Product II-23
• ONDEO Nalco Unveils an Improved Antiscalant forBoiler Water II-23
• World' s First Hand-Held Battery-Operated FluorometerLaunched II-24
• B2B Web Site for Boiler Industry II-24
• Chugoku Unveils New Boiler Technology II-24

7. Recent Industry Activity II-25

• Alstom Signs Maintenance Contract with Narva II-25
• Foster Wheeler Receives Contract from SRP II-25
• Foster Wheeler to Supply CFB Boilers to Bechtel Power II-25
• B&W Signs Contract for 8 Boilers to TXU Corp. II-25
• AE&E Acquires Alstom' s Industrial Boilers Business II-25
• Alstom to Build CO2-free Steam Generator II-26
• New Aalborg Factory in Vietnam II-26
• Aker Kvaerner to Divest Pulping and Power Business II-26
• Thermax Bags Order for Auxiliary Boilers and Heat Recovery Steam Generator II-26
• BHEL Bags New Contract in India II-26
• BHEL to Expand Boiler Production Capacity II-26
• BAE Bags Steam Plant Boilers Upgrade Contract II-27
• Foster Wheeler to Supply Boilers to Tornion Voima II-27
• Foster Wheeler to Supply Boilers to SINOPEC II-27
• BHPV to Supply Boilers to HPCL II-27
• B&W to Supply Boilers to Black Hills Corporation II-27
• KNM Bags Order for Waste Heat Boilers II-27
• BHEL to install 500MW Power Plant in Sudan II-28
• Foster Wheeler Receives Contract from SINOPEC II-28
• Foster Wheeler to Provide CFB Boilers to Cleco Power II-28
• Foster Wheeler to Expand Chinese Facility II-28
• Doosan Restructures Operations, Enhances Capacity II-28
• Foster Wheeler to Install World' s Largest Supercritical CFB Boiler Island in Poland II-28
• B&W and AAL to Jointly Develop Advanced NOx Control Technology II-29
• Foster Wheeler to Supply Package Boilers to BASF II-29
• Aker Kvaerner Acquires Majority Stake in Noviter Oy II-29
• B&W Bags New Contracts for Supply of Cyclones II-29
• Alstom and BHEL Sign Technology Transfer Agreement II-29
• Alstom Bags Contracts for 750MW Pulverised Coal-Fired Boilers II-30
• CB Industrial Enhances Stake in Subsidiary II-30
• Consortium Led by ALSTOM Secures a Major Contract inSaudi Arabia II-30
• Mostostal Zabrze Holding Wins a Contract fromFISIA Babcock Environment II-30
• ALSTOM Receives a Contract to Build Power Plant inSingapore II-30
• Doosan Secures a Contract from Korea Southern Power II-31
• US Subsidiary of Foster Wheeler Garners a Contract fromBechtel Power Corp II-31
• Indeck Keystone Energy Acquires Keystone Energy A/S II-31
• Thermax Babcock & Wilcox Becomes a Wholly-ownedSubsidiary of Thermax Ltd. II-31
• Babcock-Hitachi K.K. Acquires Babcock Borsig PowerSystems II-31
• CDT Joins Hands With CCA II-31
• Earth Sciences in Alliance With NORIT II-32
• Alstom Bags Deal from Reliant II-32
• Merloni TermoSanitari Acquires Boiler Interests of Preussag II-32
• Thermax and Cummins Join Hands II-32
• Contract for Foster Wheeler in China II-33
• Beel Industrial Boilers Installs Ten Boilers in Turkey II-33
• Foster Wheeler Awarded Fuji Contract II-33
• Energia Signs Deal With Vattenfall II-33
• American International Group Acquires HSB Group II-34
• Deal Between Safeco and Hartford Steam Boiler II-34
• Contract to Update AES' s Coal-fired Power Station II-34
• Foster Wheeler Energie Oy Bags Jamtkraft BoilerContract II-35
• Alstom Signs an Agreement with Saudi Electricity II-35
• Sinopec on a Contract Spree in China II-35
• Boiler Contracts for Kvaerner Pulping II-35
• Saudi Electricity Inks a Pact with Alstom II-35
• EnelPower and Alstom Join Hands II-36
• Ansaldo Volund Divests its Business Units II-36
• Renaming of ABB ABL and ABB Alsthom Power in India II-36
• Praj Industries Awarded ASME Accreditation II-36
• Eco-friendly Boilers from BHEL II-36
• Low Frequency Sound Products for Boiler Operators II-36
• New Boiler Technology to Check Defects in Boilers II-37

8. Focus on Key Players II-38

• Aalborg Industries A/S (Denmark) II-38
• ALSTOM (France) II-38
• Alstom Power Generation II-38
• Bharat Heavy Electricals Ltd (India) II-38
• Doosan Heavy Industries & Construction Co Ltd (Korea) II-39
• Ebara Corporation (Japan) II-39
• Foster Wheeler, Inc. (USA) II-40
• Harbin Power Equipment Company Limited (China) II-40
• Hitachi Ltd (Japan) II-40
• Babcock-Hitachi K.K II-41
• McDermott International, Inc. (USA) II-41
• The Babcock & Wilcox Company (USA) II-41
• Mitsubishi Heavy Industries, Ltd (Japan) II-41
• Miura Co Ltd (Japan) II-41
• Takuma Co Ltd (Japan) II-42
• Thermax Limited (India) II-42
• Wellman Robey (UK) II-42

9. Global Market Perspective II-43

• Table 1: World Recent Past, Current & Future Analysis for Power/ Utility Boilers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Market Independently Analyzed with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) II-43
• Table 2: World 10-Year Perspective for Power/Utility Boilersby Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Markets for Years 2000, 2005 & 2010 (includes corresponding Graph/Chart) II-43
• Table 3: World Recent Past, Current & Future Analysis for Industrial Boilers by Geographic Region - US, Canada,Japan, Europe, Asia-Pacific (excluding Japan), Middle Eastand Latin America Market Independently Analyzed withAnnual Capacity Additions in Tons of Steam Per Hourfor Years 2000 through 2010 (includes corresponding Graph/Chart) II-44
• Table 4: World 10-Year Perspective for Industrial Boilers by Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Marketsfor Years 2000, 2005 & 2010 (includes corresponding Graph/Chart) II-44
• Table 5: World Recent Past, Current & Future Analysis for Industrial Boilers in Oil & Gas Industry by GeographicRegion - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Market Independently Analyzed with Annual Capacity Additions in Tons ofSteam Per Hour for Years 2000 through 2010 (includes corresponding Graph/Chart) II-45
• Table 6: World 10-Year Perspective for Industrial Boilers inOil & Gas Industry by Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East andLatin America Markets for Years 2000, 2005 & 2010(includes corresponding Graph/Chart) II-45
• Table 7: World Recent Past, Current & Future Analysisfor Industrial Boilers in Chemical Industry Assembly byGeographic Region - US, Canada, Japan, Europe,Asia-Pacific (excluding Japan), Middle East andLatin America Market Independently Analyzed withAnnual Capacity Additions in Tons of Steam Per Hourfor Years 2000 through 2010 (includes corresponding Graph/Chart) II-46
• Table 8: World 10-Year Perspective for Industrial Boilers in Chemical Industry by Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada,Japan, Europe, Asia-Pacific (excluding Japan),Middle East and Latin America Markets for Years 2000,2005 & 2010 (includes corresponding Graph/Chart) II-46
• Table 9: World Recent Past, Current & Future Analysisfor Industrial Boilers in Food & Beverage Industry byGeographic Region - US, Canada, Japan, Europe,Asia-Pacific (excluding Japan), Middle East andLatin America Market Independently Analyzed withAnnual Capacity Additions in Tons of Steam Per Hourfor Years 2000 through 2010 (includes corresponding Graph/Chart) II-47
• Table 10: World 10-Year Perspective for Industrial Boilers in Food & Beverage Industry by Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Markets for Years 2000, 2005 & 2010 (includes corresponding Graph/Chart) II-47
• Table 11: World Recent Past, Current & Future Analysis for Industrial Boilers in Building & Construction Industry by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Market Independently Analyzed with Annual Capacity Additions in Tons of Steam Per Hour for Years 2000 through 2010 (includes corresponding Graph/Chart) II-48
• Table 12: World 10-Year Perspective for Industrial Boilers in Building & Construction Industry by Geographic Region - Percentage Breakdown of Capacity Additions for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),Middle East and Latin America Markets for Years 2000,2005 & 2010 (includes corresponding Graph/Chart) II-48
• Table 13: World Recent Past, Current & Future Analysis for Industrial Boilers in Other Industries by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Latin America Market IndependentlyAnalyzed with Annual Capacity Additions in Tons ofSteam Per Hour for Years 2000 through 2010(includes corresponding Graph/Chart) II-49
• Table 14: World 10-Year Perspective for Industrial Boilersin Other Industries by Geographic Region - PercentageBreakdown of Capacity Additions for US, Canada,Japan, Europe, Asia-Pacific (excluding Japan), Middle Eastand Latin America Markets for Years 2000, 2005 & 2010 (includes corresponding Graph/Chart) II-49

III. MARKET

1. The United States III-1

• A. Market Analysis III-1
• Outlook III-1
• Perceptive Changes in Use of Coal III-1
• Table 15: Leading Players in the US Market for Fire-Tube Boilers (2004 & 2005) - Percentage Breakdown of Value Sales by Company for Cleaver Brooks, Hurst Boiler & Welding Co., Superior Boiler Works, and Others (includes corresponding Graph/Chart) III-2
• Boilers Market to Experience an Upsurge III-2
• Table 16: Leading Players in the US Market for Modular Boilers (Standard) (2004 & 2005) - Percentage Breakdown of Value Sales by Company for Cleaver Brooks, Hurst Boiler &Welding Co., Patterson Kelley,Lochinvar Corp., Columbia Boiler Company, andOthers (includes corresponding Graph/Chart) III-3
• Imports-Exports Scenario in the Recent Past III-3
• Table 17: US Imports of Super-Heated WaterBoilers by Country - France, India and Israel:2003 (US$ in ' 000s) (includes corresponding Graph/Chart) III-3
• Table 18: US Imports of Super-Heated Water Boilersby Country - Canada, China, Korea: 2002 (US$ in' 000s) (includes corresponding Graph/Chart) III-3
• Table 19: US Exports of Super-Heated Water Boilersby Country - Canada, Spain, Others: 2003 (US$in ' 000s) (includes corresponding Graph/Chart) III-4
• Table 20: US Exports of Super-Heated Water Boilersby Country - Canada, Romania, China, Israel,Mexico, and Others: 2002 (US$ in ' 000s)(includes corresponding Graph/Chart) III-4
• Technological Developments of the Past III-4
• Low Frequency Sound Products for
• Boiler Operators III-4
• Revival of Boiler Control Loops III-4
• New Sealing Design III-5
• New Burner Design for Boilers III-5
• Technique for Using Natural Gas as Fuel in Boiler III-6
• Emission Monitoring Device III-6
• FireSight Combustion Monitoring System III-6
• Computer Program to Test Pressure Vessel' sStructural Strength III-6
• Product Launches III-6
• Strategic Developments III-8
• Regulations/Issues in the Late 1990s III-12
• The American Boiler Manufacturers Association III-12
• Importance of Maximum Emission Levels inBoiler Design III-13
• Environmental Concerns III-13
• Pollution Busting Using Catalytic Systems III-13
• The Clean Air Act III-14
• Changes in Pressure Equipment Design Codes &Standards and Regulations III-14
• 40CFR76 Standards III-14
• EPA' s Proposed Rule III-15
• The EPA Report III-15
• Select Key Players III-15
• B. Market Analytics III-16
• Table 21: US Recent Past, Current & Future Analysisfor Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-16
• Table 22: US Recent Past, Current & Future Analysisfor Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-17
• Table 23: US 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-17
• Table 24: US Recent Past, Current & Future Analysisfor Boilers by Product Type - Electric Boilers, Fire-Tube Boilers, and Water-Tube Boilers Markets Independently Analyzed with Annual Sales Figures in US$ Millionfor Years 2000 through 2010 (includes corresponding Graph/Chart) III-18
• Table 25: US 10-Year Perspective for Boilers by Product Type - Percentage Breakdown of Value Sales forElectric Boilers, Fire-Tube Boilers, and Water-Tube Boilers Markets for 2000, 2005 & 2010(includes corresponding Graph/Chart) III-18

2. Canada III-19

• A. Market Analysis III-19
• Outlook III-19
• B. Market Analytics III-19
• Table 26: Canadian Recent Past, Current & FutureAnalysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) forYears 2000 through 2010 (includes corresponding Graph/Chart) III-19
• Table 27: Canadian Recent Past, Current & FutureAnalysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-20
• Table 28: Canadian 10 -Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-20
• Table 29: Canadian Recent Past, Current & FutureAnalysis for Boilers by Product Type - Electric Boilers, Fire-Tube Boilers, and Water-Tube Boilers Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2000 through 2010(includes corresponding Graph/Chart) III-21
• Table 30: Canadian 10-Year Perspective for Boilers by Product Type - Percentage Breakdown of Value Sales for Electric Boilers, Fire-Tube Boilers, and Water-Tube Boilers Markets for 2000, 2005 & 2010(includes corresponding Graph/Chart) III-21

3. Japan III-22

• A. Market Analysis III-22
• Outlook III-22
• Market Environment III-22
• Table 31: Leading Players in the Japanese Market for Boilers (2003 & 2005) - Percentage Breakdown of Value Production by Company for MitsubishiHeavy Industries, Ishikawajima-Harima HeavyIndustries, Babcock-Hitachi, Kawasaki HeavyIndustries, IHI Packaged Boiler and Others(includes corresponding Graph/Chart) III-22
• Product Launches/Innovations III-23
• Key Players III-23
• B. Market Analytics III-25
• Table 32: Japanese Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-25
• Table 33: Japanese Recent Past, Current & FutureAnalysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-25
• Table 34: Japanese 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-26

4. Europe III-27

• A. Market Analysis III-27
• Outlook III-27
• Regional Perspective III-27
• Industry Structure III-27
• System Integrators III-27
• Product Specialists III-28
• Activity Specialists III-28
• Cogeneration Fuel-Fired Boilers Market - A StatisticalOverview III-28
• Table 35: European Market for Cogeneration Fuel-Fired Boilers (2000, 2005 & 2010) - Percentage Breakdown of Capacity Additions by Country forFrance, Germany, UK, Italy, Spain, and Rest ofEurope (includes corresponding Graph/Chart) III-28
• Table 36: European Recent Past, Current & Future Analysis for Cogeneration Fuel-Fired Boilers Marketwith Annual Capacity Additions in Mega Watts(MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-29
• Table 37: Leading Players in the European Market for Cogeneration Fuel-Fired Boilers (2004 & 2005) - Percentage Breakdown of Capacity Additions by Company for ALSTOM, Foster Wheeler, Babcock - Hitachi, Ltd., Aker Kvaerner, Rafako, and Others (includes corresponding Graph/Chart) III-29
• Environmental Concerns III-30
• Regulatory Environment III-30
• Directive on Pressure Vessels III-30
• Key Player III-30
• B. Market Analytics III-31
• Table 38: European Recent Past, Current & Future Analysis for Power/Utility Boilers by Geographic Region - France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets Independently Analyzed with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through2010 (includes corresponding Graph/Chart) III-31
• Table 39: European 10-Year Perspective for Power/Utility Boilers by Geographic Region - Percentage Breakdown of Capacity Additions for France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets for Years 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-31
• Table 40: European Recent Past, Current & FutureAnalysis for Industrial Boilers by Geographic Region - France, Germany, Italy, UK, Spain, Russia & Rest of Europe Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-32
• Table 41: European 10 -Year Perspective for Industrial Boilers by Geographic Region - Percentage Breakdownof Capacity Additions for France, Germany, Italy,UK, Spain, Russia & Rest of Europe Markets forYears 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-32
• Table 42: European Recent Past, Current & FutureAnalysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-33
• Table 43: European 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Marketsfor 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-33

4a. France III-34

• A. Market Analysis III-34
• Outlook III-34
• Strategic Developments III-34
• ALSTOM - A Leader All the Way III-34
• B. Market Analytics III-35
• Table 44: French Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-35
• Table 45: French Recent Past, Current & Future Analysisfor Industrial Boilers by End Use Segment - Oil & Gas,Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with AnnualCapacity Additions in Tons of Steam per Hour (TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-35
• Table 46: French 10-Year Perspective for IndustrialBoilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-36

4b. Germany III-37

• A. Market Analysis III-37
• Outlook III-37
• Strategic Developments III-37
• B. Market Analytics III-38
• Table 47: German Recent Past, Current & FutureAnalysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for years2000 through 2010 (includes correspondingGraph/Chart) III-38
• Table 48: German Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-38
• Table 49: German 10 -Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-39

4c. The United Kingdom III-40

• A. Market Analysis III-40
• Outlook III-40
• Strategic Developments III-40
• Wellman Robey - A Key Player III-40
• B. Market Analytics III-41
• Table 50: UK Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-41
• Table 51: UK Recent Past, Current & Future Analysisfor Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-41
• Table 52: UK 10-Year Perspective for Industrial Boilersby End Use Segment - Percentage Breakdown ofCapacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-42

4d. Italy III-43

• A. Market Analysis III-43
• Outlook III-43
• Market Environment III-43
• Strategic Developments III-43
• B. Market Analytics III-44
• Table 53: Italian Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-44
• Table 54: Italian Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-44
• Table 55: Italian 10 -Year Perspective for IndustrialBoilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-45

4e. Spain III-46

• Market Analysis III-46
• Table 56: Spanish Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000through 2010 (includes correspondingGraph/Chart) III-46
• Table 57: Spanish Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-47
• Table 58: Spanish 10 -Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-47

4f. Russia III-48

• Market Analysis III-48
• Table 59: Russian Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000through 2010 (includes correspondingGraph/Chart) III-48
• Table 60: Russian Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour(TSPH) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-49
• Table 61: Russian 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Marketsfor 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-49

4g. Rest of Europe III-50

• A. Market Analysis III-50
• Outlook III-50
• Czech Republic III-50
• Poland III-50
• Strategic Developments III-51
• Key Players III-54
• B. Market Analytics III-55
• Table 62: Rest of Europe Recent Past, Current & Future Analysis for Power/Utility Boilers Analysis with Annual Capacity Additions in Mega Watts (MW) for Years2000 through 2010 (includes correspondingGraph/Chart) III-55
• Table 63: Rest of Europe Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-55
• Table 64: Rest of Europe 10-Year Perspective forIndustrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction,and Other Markets for 2000, 2005 & 2010(includes corresponding Graph/Chart) III-56

5. Asia-Pacific III-57

• A. Market Analysis III-57
• Outlook III-57
• China III-57
• India III-58
• Key Trends III-59
• Indonesia III-59
• Product/Technology Developments in 1990s III-60
• Strategic Developments III-60
• Key Players III-64
• B. Market Analytics III-66
• Table 65: Asia-Pacific Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000through 2010 (includes corresponding Graph/Chart) III-66
• Table 66: Asia-Pacific Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-66
• Table 67: Asia-Pacific 10-Year Perspective forIndustrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building &Construction, and Other Markets for 2000, 2005 &2010 (includes corresponding Graph/Chart) III-67

6. The Middle East III-68

• A. Market Analysis III-68
• Outlook III-68
• Strategic Developments III-68
• B. Market Analytics III-69
• Table 68: Middle East Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) forYears 2000 through 2010 (includes corresponding Graph/Chart) III-69
• Table 69: Middle East Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment - Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steam per Hour (TSPH) for Years2000 through 2010 (includes correspondingGraph/Chart) III-70
• Table 70: Middle East 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdownof Capacity Additions for Oil & Gas, Chemical,Food & Beverages, Building & Construction, andOther Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-70

7. Latin America III-71

• Market Analysis III-71
• Table 71: Latin American Recent Past, Current & Future Analysis for Power/Utility Boilers Market with Annual Capacity Additions in Mega Watts (MW) for Years 2000 through 2010 (includes corresponding Graph/Chart) III-71
• Table 72: Latin American Recent Past, Current & Future Analysis for Industrial Boilers by End Use Segment -Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets Independently Analyzed with Annual Capacity Additions in Tons of Steamper Hour (TSPH) for Years 2000 through 2010(includes corresponding Graph/Chart) III-72
• Table 73: Latin American 10-Year Perspective for Industrial Boilers by End Use Segment - Percentage Breakdown of Capacity Additions for Oil & Gas, Chemical, Food & Beverages, Building & Construction, and Other Markets for 2000, 2005 & 2010 (includes corresponding Graph/Chart) III-72

IV. COMPETITION

• 1. AO Smith Water Products Company (USA) IV-1
• 2. A.T.I., SNC (DI Mariani Mario & C.) (Italy) IV-1
• 3. Aalborg Industries A/S (Denmark) IV-2
• Aalborg Industries AB (Sweden) IV-7
• Aalborg Industries A/S (UAE) IV-8
• Aalborg Industries Oy (Finland) IV-8
• 4. AB & CO TT Boilers A/S (Denmark) IV-9
• 5. ACV International NV (Belgium) IV-10
• ACV Espana SA (Spain) IV-10
• ACV France (France) IV-10
• ACV International Company (Russia) IV-11
• ACV UK Ltd. (UK) IV-11
• 6. Advance Boilers Sdn BHD (Malaysia) IV-12
• 7. Afatec Srl (Italy) IV-12
• 8. Aira Pty., Ltd. (Australia) IV-13
• 9. Aker Kvaerner ASA (Norway) IV-14
• Table 74: Half Yearly Sales Analysis by Quarter: 2005-2006 (H1) (In NOK million) IV-16
• Table 75: Annual Sales Analysis: 2004-2005 (In NOK million) IV-16
• Table 76: Annual Sales Analysis by Segment: 2004-2005 (In NOK million) IV-17
• Table 77: Annual Sales Analysis by Geographic Region: 2004-2005 (In NOK million) IV-17
• Kvaerner Power Oy (Finland) IV-22
• Noviter Oy (Finland) IV-23
• 10. Al Energia Polska Sp. Z o.o. (Poland) IV-24
• 11. Alde International Systems AB (Sweden) IV-24
• 12. All Saints Plumbing & Heating (UK) IV-25
• 13. Alpa Titan Ltd. (Bulgaria) IV-25
• 14. Alstom (France) IV-26
• Table 78: Annual Sales Analysis: 2005-2006 (In € million) IV-27
• Table 79: Annual Sales Analysis by Segment: 2005-2006 (In € million) IV-27
• Table 80: Annual Sales Analysis by Geographic Region: 2005-2006 (In € million) IV-28
• Alstom Power Generation (USA) IV-32
• Alstom Australia Limited (Australia) IV-34
• Alstom Estonia AS (Estonia) IV-35
• Alstom Portugal SA (Portugal) IV-35
• Alstom Power (South Africa) IV-36
• Alstom Power Boiler Manufacturing GmbH (Germany) IV-36
• Alstom Power India Ltd. (India) IV-39
• Alstom Power Italia SpA (Italy) IV-39
• Alstom Power Romania (Romania) IV-40
• Alstom Power (UK) IV-40
• Alstom John Thompson (South Africa) IV-41
• 15. Amalgamated Metal Corporation (M) Sdn Bhd (Malaysia) IV-43
• 16. Amisa Product (Romania) IV-43
• 17. Anastasi Srl (Italy) IV-44
• 18. Andrews Water Heaters (UK) IV-44
• 19. Ansaldo Caldaie SpA (Italy) IV-45
• 20. Antrepriza Montaj Instalatii (Romania) IV-45
• 21. Anyang Fangkuai Boiler Co., Ltd. (China) IV-46
• 22. Apen Group SpA (Italy) IV-46
• 23. Aplicaciones Del Plomo Y Plástico SL (Spain) IV-47
• 24. Aquaflame Ltd. (UK) IV-47
• 25. Aquaheat Industries Ltd. (New Zealand) IV-48
• 26. AR Riscaldamento SpA (Italy) IV-49
• 27. Armax GAZ (Romania) IV-49
• 28. Asian Boiler Engineers Pvt., Ltd. (India) IV-50
• 29. Atmos Heating Systems (UK) IV-50
• 30. Atrama Akcine Bendrove (Lithuania) IV-51
• 31. Austrian Energy & Environment AG (Austria) IV-52
• Table 81: Annual Sales Analysis: 2004-2005 (In TEUR million) IV-53
• 32. Autoflame Engineering Ltd. (UK) IV-54
• 33. AWB CV-Ketels (The Netherlands) IV-55
• 34. AXA-Maschinen- Und Armaturen GmbH & Co., KG. (Germany) IV-55
• 35. Babcock Power, Inc. (USA) IV-56
• 36. Babcock-Hitachi K.K. (Japan) IV-58
• 37. Badertscher + Co. AG (Switzerland) IV-59
• 38. BAE Systems Ordnance Systems, Inc. IV-60
• 39. Baltur SpA (Italy) IV-60
• 40. Baxi Group Ltd. (UK) IV-61
• Baxi A/S (Denmark) IV-62
• Baxi BV (The Netherlands) IV-62
• Baxi SpA (Italy) IV-62
• 41. Baymak Makina Sanayi Ve Ticaret (Turkey) IV-63
• 42. Beel Industrial Boilers PLC (UK) IV-63
• 43. Beeston Heating Ltd. (UK) IV-64
• 44. Behrend AG (Switzerland) IV-64
• 45. Benekovterm SRO (Czech Republic) IV-65
• 46. Bharat Heavy Electricals Limited (India) IV-66
• Table 82: First Quarter Sales Analysis: 2006-2007 (In INR million) IV-68
• Table 83: First Quarter Sales Analysis by Segment: 2006-2007 (In INR million) IV-68
• Table 84: Annual Sales Analysis: 2004-2006 (In INR million) IV-68
• Table 85: Annual Sales Analysis by Segment: 2005-2006 (In INR million) IV-68
• 47. Bharat Heavy Plates & Vessels Ltd. (India) IV-74
• 48. Biasi SpA (Italy) IV-74
• 49. BIB Cochrane, Ltd. (UK) IV-75
• 50. Bigas Alsina SA (Spain) IV-77
• 51. Bioenergy Technology Ltd. (UK) IV-77
• 52. Biossol SA (Greece) IV-78
• 53. Blampey SA (France) IV-78
• 54. Blowtherm SpA (Italy) IV-79
• 55. Boiler Works A/S (Denmark) IV-79
• 56. Bono Energia, SpA (Italy) IV-80
• 57. Boschetti Industrie Meccaniche Srl (Italy) IV-82
• 58. Bostel Brothers Ltd. (UK) IV-82
• 59. Boulter Buderus Ltd. (UK) IV-83
• 60. Bradlee Boilers Ltd. (UK) IV-83
• 61. Branco Boilers & Engineering Pty., Ltd. (Australia) IV-84
• 62. Bresson a.s. (Czech Republic) IV-84
• 63. Buderus AG (Germany) IV-85
• Buderus Energietechniek BV (The Netherlands) IV-86
• Buderus Heating Technology Co., Ltd. (China) IV-86
• Buderus Verwarming-Chauffage NV (Belgium) IV-87
• 64. Burco Appliances Ltd. (UK) IV-88
• 65. Butane Industrial Co. (Iran) IV-88
• 66. Caldaie Carimati Srl (Italy) IV-89
• 67. Caldaie Ravasio Srl (Italy) IV-89
• 68. Calortec Oy (Finland) IV-89
• 69. Cambro Boilers Pty., Ltd. (Australia) IV-90
• 70. Cannon SpA (Italy) IV-90
• 71. Carbofuel SpA (Italy) IV-91
• 72. CCI Thermal Technologies, Inc. (Canada) IV-91
• 73. Certuss Dampfautomaten GmbH & Co., KG. (Germany) IV-92
• Certuss UK Ltd. (UK) IV-92
• Certuss France (France) IV-93
• 74. Chaffoteaux & Maury (France) IV-94
• 75. Chian Li Boiler Machine Co. (Taiwan) IV-95
• 76. Chieng Shyong Machinery Co., Ltd. (Taiwan) IV-96
• 77. Chin' s Heart Ent Co., Ltd. (Taiwan) IV-96
• 78. Chromalox UK Limited (UK) IV-97
• 79. Church Hill Systems Limited (UK) IV-100
• 80. Cipag SA (Switzerland) IV-100
• 81. Clayton Industries, Inc. (USA) IV-101
• Clayton De France (France) IV-101
• Clayton De Mexico SA de CV (Mexico) IV-102
• Clayton Deutschland GmbH (Germany) IV-102
• Clayton Nederland BV (The Netherlands) IV-102
• Clayton Scandinavia AS (Norway) IV-103
• Clayton Thermal Products Ltd. (UK) IV-103
• 82. Cleaver-Brooks, Inc. (USA) IV-104
• Cleaver Brooks De Mexico SA de CV (Mexico) IV-104
• 83. Clyde Energy Solutions (UK) IV-105
• 84. Cockerill Maintenance Ingenierie NV (C.M.I) (Belgium) IV-106
• 85. Collard Et Trolart Thermique (France) IV-107
• 86. Collins Walker Ltd. (UK) IV-108
• 87. Columbia Boiler Company (USA) IV-108
• 88. Comeconomiseur (Comeco) (France) IV-109
• 89. Consolidated Fire & Steam Pty., Ltd. (Australia) IV-109
• 90. Constructions Industrielles De La Meditérranéé (CNIM) (France) IV-110
• Babcock Wanson (France) IV-110
• Babcock Wanson AG (Switzerland) IV-111
• Babcock Wanson Italiana SpA (Italy) IV-111
• Babcock Wanson UK Ltd. (UK) IV-112
• 91. Controlled Flame Boilers Ltd. (UK) IV-114
• 92. Cosmogas Srl (Italy) IV-114
• 93. Cuddon Limited (New Zealand) IV-115
• 94. Dae Lim Boiler Co., Ltd. (Korea) IV-120
• 95. Dae Sung Celtic Co., Ltd. (Korea) IV-120
• 96. Daelim Royal Boiler Co., Ltd. (Korea) IV-120
• 97. DAE-Won Boiler Co., Ltd. (Korea)) IV-121
• 98. Dampferzeuger-Rohrleitungsbau GmbH (Germany) IV-121
• 99. Danstoker A/S (Denmark) IV-122
• 100. Datian Boiler Manufacture Co., Ltd. (China) IV-122
• 101. DE Dietrich Co. Ltd. Beijing Rep. Office (China) IV-123
• 102. DE Dietrich Thermique/Thermal DE Dietrich (France) IV-123
• 103. Deltak (USA) IV-124
• 104. Destila, Vyrobni Druzstvo (Czech Republic) IV-125
• 105. Dino Anlagen- Und Maschinenbau GmbH (Germany) IV-126
• 106. Discount Central Heating Supplies (UK) IV-127
• 107. Ditzler Indap AG (Switzerland) IV-128
• 108. Domusa Calefacción, S. Coop. (Spain) IV-128
• 109. Dongbo Heavy Industries Co., Ltd. (Korea) IV-129
• 110. Dongfang Boiler (Group) Co., Ltd. (China) IV-129
• 111. Doosan Heavy Industries And Construction Co., Ltd. (Korea) IV-130
• 112. Dunsley Heat Ltd. (UK) IV-134
• 113. Duro Dakovic Tep D.O.O. (Croatia) IV-135
• 114. Duro Felguera SA (Spain) IV-137
• 115. East Coast Steam Pty., Ltd. (Australia) IV-140
• 116. Ebara Corporation (Japan) IV-141
• Table 86: Annual Sales Analysis: 2004-2006 (In ¥ million) IV-142
• Table 87: Annual Sales Analysis by Segment: 2005-2006 (In ¥ million) IV-143
• Table 88: Annual Sales Analysis by Geographic Region: 2005-2006 (In ¥ million) IV-143
• Table 89: Annual Sales Analysis by Segment: 2004-2005 (In ¥ million) IV-143
• Table 90: Annual Sales Analysis by Geographic Region: 2004-2005 (In ¥ million) IV-143
• 117. Ecoflam SpA (Italy) IV-144
• 118. Eisenwerk Baumgarte Kessel- Und Apparatebau GmbH (Germany) IV-144
• 119. Ekoefekt AS (Czech Republic) IV-145
• 120. ELBH Sro (Czech Republic) IV-145
• 121. Elemex Ltd. (Ireland) IV-145
• 122. Elnur SA (Spain) IV-146
• 123. Endeco Ltd. Sp. zoo (Poland) IV-147
• 124. Energietechnik GesmbH (Austraia) IV-148
• 125. Energoinstal SA (Poland) IV-148
• 126. Energomash Corporation-Url (Russia) IV-149
• 127. Energotex Sp. zoo W Kaliszu Przedsiebiorstwo Przemyslowe (Poland) IV-149
• 128. Energy Management Systems Ltd. (UK) IV-150
• 129. Energy Process Equipments (India) IV-151
• 130. Energy Products International (New Zealand) IV-151
• 131. Enertech AB - Bentone Division (Sweden) IV-152
• 132. Eratic SA (Spain) IV-152
• 133. Erato Viadrus PLC (Bulgaria) IV-153
• 134. Erensan Group Companies (Turkey) IV-153
• 135. Esteam Boilers (Aust) Pty., Ltd. (Australia) IV-154
• 136. Euronom AB (Sweden) IV-154
• 137. Euroterm Srl (Italy) IV-155
• 138. Excon Steel AS (Czech Republic) IV-155
• 139. F.B.R. Bruciatori Srl (Italy) IV-156
• 140. Fako SA Fabryka Kotlow (Poland) IV-156
• 141. Fengcheng Hangyu Boilers Mfg. Co., Ltd. (China) IV-156
• 142. Firebird Boilers Ltd. (Ireland) IV-157
• 143. Fisia Babcock Environment GmbH (Germany) IV-157
• 144. Fogarty Industries Ltd. (New Zealand) IV-158
• 145. Fonderie Sime SpA (Italy) IV-158
• 146. Fondital SpA (Fonderie Italiane Nuova Valsabbia) (Italy) IV-159
• 147. Fontecal SpA (Italy) IV-159
• 148. Forbes (Aust) Pty., Ltd. (Australia) IV-160
• 149. Foster Wheeler (USA) IV-162
• Foster Wheeler North America Corporation (USA) IV-164
• Foster Wheeler Energia Oy (Finland) IV-165
• Foster Wheeler Energia Polska Sp. zoo (Poland) IV-165
• Foster Wheeler Italiana SpA (Italy) IV-166
• Foster Wheeler KK (Japan) IV-167
• Foster Wheeler Limited (Canada) IV-167
• Foster Wheeler Power Machinery Company Ltd. (China) IV-167
• 150. Foure Lagadec (France) IV-168
• 151. Frisquet SA (France) IV-168
• 152. Fulton Boiler Works, Inc. (USA) IV-169
• Fulton Boiler Works (UK) Ltd. (UK) IV-169
• 153. Gavardo Caldie Srl (Italy) IV-170
• 154. GCD International Pty., Ltd. (Australia) IV-171
• 155. GEA AG (Germany) IV-174
• 156. Gekakonus GmbH (Germany) IV-175
• 157. Geminox (France) IV-175
• 158. Gerco Apparatebau GmbH & Co., KG. (Germany) IV-176
• 159. Gerkros Boilers (Tipperary) Ltd. (Ireland) IV-176
• 160. Ghidini Benvenuto Srl (Italy) IV-177
• 161. Giroa SA (Spain) IV-177
• 162. Glen Dimplex UK Ltd. (UK) IV-178
• Halstead Boilers Ltd. (UK) IV-179
• 163. Grant Engineering Ltd. (Ireland) IV-180
• Grant Engineering (UK) Ltd. (UK) IV-180
• 164. Gruppo Ferroli (Italy) IV-181
• Ferroli SpA (Italy) IV-181
• Ferroli Industrie GmbH (Germany) IV-182
• Ferroli Ltd. (UK) IV-182
• 165. Hanil Boiler Plant Co., Ltd. (Korea) IV-183
• 166. Hansa Ol- Und Gasbrenner GmbH (Germany) IV-183
• 167. Harbin Power Equipment Company Limited (China) IV-184
• 168. Harsco Corporation (USA) IV-185
• Table 91: Nine Months Sales Analysis: 2005-2006 (Nine Months Ended, September) (In US$ million) IV-187
• Table 92: Nine Months Sales Analysis by Segment: 2005-2006 (Nine Months Ended, September) (In US$ million) IV-187
• 169. Hartley & Sugden (UK) IV-189
• 170. HDG Bavaria GmbH Heizkessel & Anlagenbau (Germany) IV-189
• 171. HDS Energy Group Ltd. (Ireland) IV-190
• 172. Heating World Ltd. (UK) IV-190
• 173. Heise & Gostkowski Sp.Z o.o. (Poland) IV-191
• 174. Hermann Srl (Italy) IV-191
• 175. Hitachi Ltd. (Japan) IV-192
• Table 93: First Quarter Sales Analysis: 2006-2007 (In ¥ billion) IV-194
• Table 94: Annual Sales Analysis: 2004-2006 (In ¥ billion) IV-194
• Table 95: Annual Sales Analysis by Segment: 2005-2006 (In ¥ billion) IV-194
• Table 96: Annual Sales Analysis by Geographic Region: 2005-2006 (In ¥ billion) IV-195
• Table 97: Annual Sales Analysis by Segment: 2004-2005 (In ¥ billion) IV-195
• Table 98: Annual Sales Analysis by Geographic Region: 2004-2005 (In ¥ billion) IV-195
• Hitachi Power Europe GmbH (Germany) IV-203
• 176. Hofamat GmbH (Germany) IV-204
• 177. Hoval Ltd. (UK) IV-205
• 178. Hovalwerk AG (Switzerland) IV-206
• 179. Howden Electro Heating (UK) IV-208
• 180. HTT® Energy Systems GmbH (Germany) IV-208
• 181. Hurlcon Pty., Ltd. (Australia) IV-209
• 182. Hurst Boiler & Welding Company, Inc. (USA) IV-210
• Shanghai Hurst Huazhong Boiler Co., Ltd. (China) IV-210
• 183. I.VAR. Industry Srl (Italy) IV-211
• 184. IAICA (Romania) IV-211
• 185. ICI Caldaie SpA (Italy) IV-212
• 186. Ideal Clima SpA (Italy) IV-213
• Ideal Clima France (France) IV-213
• 187. Immergas SpA (Italy) IV-214
• Alpha Boilers (UK) IV-214
• 188. Industrial Olmar SA (Spain) IV-215
• 189. Infrason Sarl (France) IV-215
• 190. Inox-Dep Snc (Italy) IV-216
• 191. Intemar Dis Ticaret (Turkey) IV-216
• 192. Intertrade JSC (Bulgaria) IV-217
• 193. Ishikawajima-Harima Heavy Industries Co., Ltd. (Japan) IV-218
• 194. Isolux SA (Switzerland) IV-219
• 195. Jaroslav Cankar A SYN Atmos (Czech Republic) IV-219
• 196. Jiangsu Taihu Boiler Co., Ltd. (China) IV-220
• 197. Jiangxi Jianglian Energy & Environment Co., Ltd. (China) IV-220
• 198. JMC Corporation (Korea) IV-221
• 199. Johann Zimmer KG (Germany) IV-221
• 200. John Zink Benelux Divisie Koch Int. BV (The Netherlands) IV-222
• 201. Justsen Energiteknik AS (Denmark) IV-222
• 202. Kawasaki Heavy Industries Ltd. (Japan) IV-223
• Table 99: First Quarter Sales Analysis: 2006-2007 (In ¥ billion) IV-225
• Table 100: First Quarter Sales Analysis by Segment: 2006-2007 (In ¥ billion) IV-226
• Table 101: Annual Sales Analysis: 2004-2006 (In ¥ billion) IV-226
• Table 102: Annual Sales Analysis by Segment: 2005-2006 (In ¥ billion) IV-226
• Table 103: Annual Sales Analysis by Geographic Region: 2005-2006 (In ¥ billion) IV-227
• Table 104: Annual Sales Analysis by Segment: 2004-2005 (In ¥ billion) IV-227
• Table 105: Annual Sales Analysis by Geographic Region: 2004-2005 (In ¥ billion) IV-227
• 203. Kiturami Gas Boiler Co., Ltd. (Korea) IV-230
• 204. KNM Process Systems Sdn Bhd (Malaysia) IV-231
• 205. Korea Miura Co., Ltd. (Korea) IV-232
• 206. Kospel SA (Poland) IV-233
• 207. Kyungdong Navien Co., Ltd. (Korea) IV-233
• 208. Laatukattila Oy (Finland) IV-234
• 209. Lacaze SA (France) IV-234
• 210. Lamborghini Calor SpA (Italy) IV-235
• 211. Lenox Instrument Co. (USA) IV-236
• 212. Liebi Lnc AG (Switzerland) IV-237
• 213. Lochinvar Corporation (USA) IV-238
• 214. Loos Deutschland GmbH (Germany) IV-240
• Loos Austria GmbH (Austria) IV-242
• 215. Lotte Engineering & Machinery Manufacturing Company Limited (Korea) IV-243
• 216. Lurgi Lentjes AG (Germany) IV-244
• 217. Mabre Srl (Italy) IV-245
• 218. Macchi SpA (Italy) IV-245
• 219. Magnabosco Srl (Italy) IV-245
• 220. Malvern Boilers Limited (UK) IV-246
• 221. Manaut SA (Spain) IV-246
• 222. Maxitherm Boilers Pty., Ltd. (Australia) IV-247
• 223. Maxxtec Belgium Sprl (Belgium) IV-248
• 224. McDermott International, Inc. (USA) IV-249
• Table 106: Nine Months Sales Analysis: 2005-2006 (Nine Months Ended, September) (In US$ million) IV-250
• Table 107: Nine Months Sales Analysis by Quarter: 2005-2006 (Nine Months Ended, September) (In US$ million) IV-250
• Table 108: Nine Months Sales Analysis by Business Segment: 2005-2006 (Nine Months Ended, September) (In US$ million) IV-251
• Table 109: Annual Sales Analysis: 2004-2005 (In US$ million) IV-251
• Table 110: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) IV-251
• Table 111: Annual Sales Analysis by Business Segment: 2004-2005 (In US$ million) IV-251
• Table 112: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-251
• Babcock & Wilcox Company, The (USA) IV-254
• 225. McKenzie & Ridley Ltd. (New Zealand) IV-256
• 226. MCM Manufacturing Pty Ltd. (Australia) IV-256
• 227. Merloni Termosanitari SpA (Italy) IV-257
• 228. Mestek, Inc. (USA) IV-259
• Table 113: Half Yearly Sales Analysis: 2005-2006 (H1) (In US$ million) IV-260
• Table 114: Half Yearly Sales Analysis by Quarter: 2005-2006 (H1) (In US$ million) IV-260
• Table 115: Half Yearly Sales Analysis by Business Segment: 2005-2006 (H1) (In US$ million) IV-260
• Table 116: Annual Sales Analysis: 2004-2005 (In US$ million) IV-260
• Table 117: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) IV-261
• Table 118: Annual Sales Analysis by Business Segment: 2004-2005 (In US$ million) IV-261
• Table 119: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-261
• 229. Mitsubishi Heavy Industries Ltd. (Japan) IV-262
• Table 120: Annual Sales Analysis: 2004-2005 (In ¥ billion) IV-264
• Table 121: Annual Sales Analysis by Segment: 2004-2005 (In ¥ billion) IV-264
• Table 122: Annual Sales Analysis by Geographic Region: 2004-2005 (In ¥ billion) IV-264
• 230. Mitsui Babcock Energy Ltd. (UK) IV-270
• Table 123: Annual Sales Analysis: 2004-2006 (In £ million) IV-272
• 231. Miura Co., Ltd. (Japan) IV-273
• Table 124: Annual Sales Analysis: 2004-2006 (In ¥ million) IV-274
• Miura International Co., Ltd. (Japan) IV-279
• Miura Protec Co., Ltd. (Japan) IV-281
• 232. Montanari Maurizio Srl (Italy) IV-282
• 233. Mora Top Sro (Czech Republic) IV-282
• 234. Nibe Industrier AB (Sweden) IV-283
• Table 125: Half Yearly Sales Analysis: 2005-2006 (H1) (In SEK million) IV-283
• Table 126: Annual Sales Analysis: 2004-2005 (In SEK million) IV-284
• Table 127: Annual Sales Analysis by Segment: 2004-2005 (In SEK million) IV-284
• Table 128: Annual Sales Analysis by Geographic Region: 2004-2005 (In SEK million) IV-284
• 235. Nicholson & Hall Corporation (USA) IV-285
• 236. Nihon Itomic Co., Ltd. (Japan) IV-286
• 237. Noritz Corporation (Japan) IV-287
• 238. Nuova Idragas Srl (Italy) IV-287
• 239. Nuova Standard Kessel Italiana Srl (Italy) IV-288
• 240. Nuovi Sistemi Termotecnici Srl (Italy) IV-288
• 241. Omnical Kessel- Und Apparatebau GmbH (Germany) IV-289
• 242. Osa Caldaie Srl (Italy) IV-289
• 243. Parker Boiler Co. (USA) IV-290
• 244. Pillard Feuerungen GmbH (Germany) IV-290
• 245. Pirobloc SA (Spain) IV-291
• 246. Pommee SA (Belgium) IV-291
• 247. Powrmatic Ltd. (UK) IV-292
• 248. Puzol Industrial SA (Spain) IV-292
• 249. Pwt Process- Wärmeträgertechnik GmbH (Germany) IV-293
• 250. Pyro A/S (Norway) IV-293
• 251. RCR Tomlinson Limited (RCR) (Australia) IV-294
• Table 129: Hal Yearly Sales Analysis: 2005-2006 (H1) (In A$ million) IV-295
• Table 130: Annual Sales Analysis: 2004-2005 (In A$ million) IV-295
• Easteel Industries Ltd. (New Zealand) IV-296
• 252. Reaction Engineering International (USA) IV-297
• 253. Regiomat AG (Industriewdrmetechnik) (Switzerland) IV-298
• 254. Remeha Group BV (The Netherlands) IV-299
• Broag Ltd. (UK) IV-299
• 255. Rheem® Manufacturing Company (USA) IV-300
• Rheem Australia Pty., Ltd. (Australia) IV-302
• Rheem New Zealand Ltd. (New Zealand) IV-302
• 256. Riello SpA (Italy) IV-303
• Thermital SpA (Italy) IV-303
• 257. Robert Bosch GmbH (Germany) IV-304
• BBT Thermo Technology (UK) IV-306
• Robert Bosch Espana SA (Spain) IV-306
• 258. Ruths SpA (Italy) IV-307
• 259. Saacke GmbH & Co., KG. (Germany) IV-308
• Saacke Australia Pty., Ltd. (Australia) IV-308
• 260. Sant' Andrea SpA (Italy) IV-309
• 261. Sellers Engineering Co. (USA) IV-309
• 262. Seneca Electronics Co., Ltd. (South Korea) IV-310
• 263. Shanghai Boilers Co., Ltd. (China) IV-310
• 264. Shoreheat Ltd. (UK) IV-311
• 265. Sices SpA (Italy) IV-311
• 266. Sieger Heizsysteme GmbH (Germany) IV-312
• 267. Simons Boiler Co. (Australia) IV-312
• 268. SPX Corporation (USA) IV-313
• Table 131: Annual Sales Analysis: 2004-2005 (In US$ million) IV-317
• Table 132: Annual Sales Analysis by Quarter: 2004-2005 (In US$ million) IV-317
• Table 133: Annual Sales Analysis by Segment: 2004-2005 (In US$ million) IV-317
• Table 134: Annual Sales Analysis by Geographic Region: 2004-2005 (In US$ million) IV-318
• 269. Standard Fasel BV (The Netherlands) IV-321
• 270. Standardkessel Lentjes-Fasel GmbH (Germany) IV-321
• 271. Star Unity AG (Germany) IV-322
• 272. Steam Storage Engineering Ltd. (UK) IV-323
• 273. Storey & Keers (Kembla) Pty., Ltd. (Australia) IV-323
• 274. Stork NV (The Netherlands) IV-324
• Table 135: First Quarter Sales Analysis: 2005-2006 (In € million) IV-326
• Table 136: Annual Sales Analysis: 2004-2005 (In € million) IV-326
• Table 137: Annual Sales Analysis by Segment: 2004-2005 (In € million) IV-326
• Table 138: Annual Sales Analysis by Geographic Region: 2004-2005 (In € million) IV-326
• 275. Sugimat SL (Spain) IV-331
• 276. Superior Boiler Works, Inc. (USA) IV-331
• 277. Sussman-Automatic Corporation (USA) IV-332
• 278. Swisscondens AG (Switzerland) IV-332
• 279. Takuma Company Ltd. (Japan) IV-333
• Table 139: Annual Sales Analysis: 2004-2005 (In ¥ billion) IV-334
• Table 140: Annual Sales Analysis by Segment: 2004-2005 (In ¥ billion) IV-334
• 280. Talleres Gometegui SL (Spain) IV-334
• 281. Talleres Lominchar SL (Spain) IV-335
• 282. Taylors Manufacturing Limited (New Zealand) IV-335
• 283. Tecnositer Srl (Italy) IV-336
• 284. Termet SA (Poland) IV-337
• 285. Termopoint Oy (Finland) IV-338
• 286. Termovana Uno Srl (Italy) IV-338
• 287. Teyvi SL (Spain) IV-339
• 288. Therma SpA (Italy) IV-339
• 289. Thermal Engineering International Ltd. (UK) IV-340
• 290. Thermax Limited (India) IV-341
• Table 141: Annual Sales Analysis: 2005-2006 (In INR million) IV-343
• Table 142: Annual Sales Analysis by Segment: 2005-2006 (In INR million) IV-343
• Thermax Babcock & Wilcox Ltd. (India) IV-345
• ME Engineering Ltd. (UK) IV-346
• 291. Thermecon Boilers (UK) IV-347
• 292. Thermia Värme AB (Sweden) IV-347
• 293. Thermo-Dynamics Boiler Company (USA) IV-348
• 294. Thermomatic Srl (Italy) IV-349
• 295. Thermona Spol. Sro (Czech Republic) IV-349
• 296. Thermorossi SpA (Italy) IV-350
• 297. Tonon SpA (Italy) IV-350
• 298. Trebema AB (Sweden) IV-351
• 299. Trinity Industries, Inc. (USA) IV-352
• Table 143: Half Yearly Sales Analysis: 2005-2006 (H1) (In US$ million) IV-354
• Table 144: Half Yearly Sales Analysis by Segment: 2005-2006 (H1) (In US$ million) IV-354
• Table 145: Annual Sales Analysis: 2004-2005 (In US$ million) IV-354
• 300. Unical A.G. SpA (Italy) IV-356
• 301. Utica Boilers (USA) IV-356
• 302. VA Technologie AG (Austria) IV-357
• 303. Vaillant GmbH (Germany) IV-359
• Vaillant Ltd. (UK) IV-360
• Vaillant SL (Spain) IV-361
• Vaillant Sarl (France) IV-362
• Saunier Duval Eau Chaude Chauffage Industrie (SDECCI) (France) IV-362
• Saunier Duval UK Ltd. (UK) IV-362
• Protherm Spol. Sro (Czech Republic) IV-363
• Nuova BPK Srl (Italy) IV-363
• 304. Verner AS (Czech Republic) IV-366
• 305. Viessmann (Switzerland) AG (Switzerland) IV-367
• Viessmann Manufacturing Company, Inc. (USA) IV-367
• Viessmann (UK) Ltd. (UK) IV-368
• Viessmann Srl (Italy) IV-368
• Viessmann Werke GmbH & Co., KG. (Germany) IV-370
• 306. Vítkovice AS (Czech Republic) IV-371
• 307. Vulcano Sadeca SA (Spain) IV-371
• 308. Vyncke Energietechniek NV (Belgium) IV-372
• 309. W.K. Crone BV (The Netherlands) IV-372
• 310. Walchandnagar Industries Ltd. (India) IV-373
• Table 146: Annual Sales Analysis: 2004-2005 (In INR million) IV-375
• Table 147: Annual Sales Analysis by Segment: 2004-2005 (In INR million) IV-375
• 311. Wanson Industries (Belgium) IV-376
• 312. Wehrle-Werk AG (Germany) IV-376
• 313. Weishaupt AG (Switzerland) IV-376
• 314. Weiss Kessel-, Anlagen- Und Maschinenbau GmbH (Germany) IV-377
• Weiss France (France) IV-377
• 315. Wellman Robey Limited (UK) IV-378
• 316. Wembley Industries Holdings Berhad (Malaysia) IV-378
• 317. Whelan Industries (Australia) IV-379
• 318. Wuason SA (Spain) IV-379
• 319. Ygnis Italia Srl (Italy) IV-379
• 320. YIT Corporation (Finland) IV-380
• Table 148: Nine Months Sales Analysis: 2005-2006 (Nine Months Ended, September) (In EUR million) IV-381
• Table 149: Nine Months Sales Analysis by Segment: 2005-2006 (Nine Months Ended, September) (In EUR million) IV-381
• Table 150: Annual Sales Analysis: 2004-2005 (In EUR million) IV-381
• Table 151: Annual Sales Analysis by Quarter: 2004-2005 (In EUR million) IV-382
• Table 152: Annual Sales Analysis by Segment: 2004-2005 (In EUR million) IV-382
• Table 153: Annual Sales Analysis by Geographic Region: 2004-2005 (In EUR million) IV-382
• 321. Zip Heaters (Australia) Pty., Ltd. (Australia) IV-384