Global Industrial Boilers Market Size By Type (Fire Tube, Water Tube), By Application (Chemicals & Petrochemicals, Paper & Pulp), By Fuel Type (Oil & Gas, Biomass), By Geographic Scope And Forecast

Industrial Boilers Market Size And Forecast

Industrial Boilers Market size was valued at USD 15.3 Billion in 2022 and is projected to reach USD 19.8 Billion by 2030, growing at a CAGR of 3.27% from 2023 to 2030.

The petrochemical and chemical sectors are expected to expand quickly in developing nations like China and India, which would increase demand for industrial boilers. The Global Industrial Boilers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Industrial Boilers Market Definition

An industrial boiler is a container that holds water and converts heat from a fuel source into steam. The steam is then routed to particular areas of the boiler and used to power industrial machinery. The majority of buildings and facilities use industrial boilers, which function virtually just like home boilers but on a considerably bigger scale. Industrial hot water boiler systems come in a wide variety of designs, including high-temperature, medium-temperature, and low-temperature boilers. The temperature of the water that each of these varieties of boilers produces is what distinguishes them from one another.

Simple basic scientific principles are used to operate industrial boilers. The amount of pressure that builds up in the dome will vary depending on whether the devices are powered by pressurized steam or hot water. The safety valve that ensures that extra steam is released to prevent explosions is also included with industrial boilers. Boilers with fire tubes and those with water tubes are the two primary categories of industrial boilers. A furnace, water tank (boiler), and smokestack are the standard components of fire-tube boilers. They operate by sending hot gases through tubes inside a water-filled drum from the furnace, which serves as the heating source. Conversely, water is circulated through tubes in water-tube boilers that are encircled by hot combustion gases.

Global Industrial Boilers Market Overview

The petrochemical and chemical sectors are expected to expand quickly in developing nations like China and India, which would increase demand for industrial boilers. Due to increased funding for the construction of mega power plants all over the world, demand is anticipated to increase even more. The chemical and petrochemical industries, which hold the largest market share for industrial boilers in the application segment, frequently use these vessels. Moreover, The growing worries about pollution, carbon emissions, and environmental preservation have compelled the government to enact tight regulations regarding industrial emissions.

The development of the worldwide Industrial Boilers Market is being aided by the strict governmental regulations governing environmentally damaging emissions. Additionally, increasing investments in thermal power as a result of increased demand for an efficient power supply are significant drivers of the global Industrial Boilers Market expansion. The expansion of the market is being aided by technological developments and a growing focus on boiler capacity among producers. For instance, leading food and beverage industries like Coca-Cola, Nestle, and Daimler rely on Bosch Industriekessel Gmbh for water boilers with capacities of up to 38 MW.

Global Industrial Boilers Market Segmentation Analysis

The Global Industrial Boilers Market is Segmented on the basis of Type, Application, Fuel Type, And Geography.

Industrial Boilers Market, By Type

• Fire Tube
• Water Tube
• Others

Based On Type, The Market is Segmented into Fire Tube, Water Tube, And Others. The Water Tube Segment led the Industrial Boilers Market globally. This is explained by the rise in demand for water tube boilers in the global paper & pulp, chemical & petrochemical, and food processing industries. The main factor promoting the rise of water tube boilers across sectors is their characteristics like low carbon emissions and improved thermal efficiency. The anticipated expansion of this market will also be aided by rising investments in the adoption of big-capacity boilers and the replacement of conventional heating systems.

Industrial Boilers Market, By Application

• Chemicals & Petrochemicals
• Paper & Pulp
• Food & Beverages
• Metals & Mining
• Others

Based on Application, the Market is Segmented into Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages, Metals & Mining, Others. the segment is anticipated to maintain its leadership. Numerous companies utilize these tanks frequently for heating procedures. According to the needs, technology has been advancing continuously. The EPA’s emission regulations are being complied with by these boilers.

Industrial Boilers Market, By Fuel Type

• Oil & Gas
• Biomass
• Fossil
• Non-Fossil

Based On Fuel Type, The Market is Segmented into Oil & Gas, Biomass, Fossil, and Non-Fossil. On a global scale, the Industrial Boilers Market was dominated by the oil and gas sector. The cheap access to oil and gas in North America and Europe is blamed for this. This market has been expanding due to the North American and European chemical, food, and beverage industries rapid expansion.

Industrial Boilers Market, By Geography

•  North America
• Europe
• Asia Pacific
• Rest of the world

On the Basis of Geography, The Global Industrial Boilers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. For industrial boilers, Europe dominated the market. Due to a number of factors, including its fast industrialization and the expansion of related businesses including the FMCG, food and beverage, and power industries, the area is predicted to dominate the market. Moreover, tough environmental rules by the European government are anticipated to increase demand for industrial boilers.

Key Players

The “Global Industrial Boilers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Thermax Ltd., Siemens AG, Bharat Heavy Electricals Ltd., Forbes Marshall, Mitsubishi Heavy Industries, Ltd., Harbin Electric Corporation, Cheema Boilers Limited, IHI Corporation, AC Boilers, and Dongfang Electric Corporation Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2023, In order to manufacture clean, zero-carbon hydrogen, Babcock & Wilcox Enterprises, Inc. teamed with Fidelis, an energy transition firm that is driving decarbonization through infrastructure development and investments in renewable fuels and low- or negative-carbon products.
• In December 2022, the deal between Bharat Heavy Electricals Limited (BHEL) and Sumitomo SHI FW will increase BHEL’s capacity to fulfill emission standards and serve to the needs of power plants. It increases subcritical and supercritical boiler production and sales in India.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Industrial Boilers Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Industrial Boilers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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