Industrial boilers Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

The global industrial boilers market is expected to grow at a CAGR of 5.3% from 2020 to 2027 and expected to reach the market value of around US$ 20,847.0 Mn by 2027.

Industrial boilers are the close vessels, where a fluid is heated. The headed or vaporized fluid is used in different industries for a wide variety of purposes, including water heating, central heating, boiler-based power generation, cooking, and sanitation among others. The operation of industrial boilers varies as per the seasons, daily, and hourly depending on the temperature and steam demand. Furthermore, coal is primarily used as a fuel for large industrial boilers, particularly for electric power generation plants.

Market Dynamics

The rising demand for industrial boilers from the food & beverage industry is driving the market value. High demand for clean technology in the chemical end-use industry and for the electricity generation is accelerating the market value. Rapid industrialization, increasing usage of industrial boilers in various industry verticals, and stringent regulations are further supporting the market value. Furthermore, increasing demand for the renovation of power generation infrastructure, increasing usage of natural gas, and increasing demand for compact designs and lean operations across industry verticals are the factors projected to create potential opportunities over the estimated period from 2020 to 2027.

On the flip side, high capital investment coupled with the high cost of installation is the major factor expected to hamper the growth over the forecast period.

Chemicals & Petrochemicals segment accounted for the major share

On the basis of application, chemicals & petrochemicals segment accounted for the major share in the market. Rapidly growing petrochemical industries and growing investments to develop mega power projects, particularly in developing economies across the globe are driving segmental growth. Moreover, developing countries are investing in the usage of cleaner energy sources that accounts for less carbon emission is further projected to drive the segmental growth.

The market research study on “Industrial boilers Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global industrial boilers market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global industrial boilers market, its boiler type, application, fuel and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global industrial boilers market size and volume, and segment markets by boiler type, application, fuel and geography along with the information on companies operating in the market. The industrial boilers market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

Asia Pacific accounted for the dominating share in the global market

In 2019, Asia Pacific accounted for the dominating share in the global industrial boilers market and the region is projected to exhibit the fastest growth over the estimated period from 2020 to 2027. The rapid industrialization, rising focus towards the infrastructure development in power generation and industrial sector is supporting the regional market value. The rising focus of manufacturers towards the environment-friendly solutions for the manufacturing process infrastructure owing to the stringent government regulations is further accelerating the market value. The major economies of the region including China and India are contributing to the regional market growth.

The players profiled in the report include Alfa Laval AB (Sweden), ANDRITZ AG (Austria), Babcock & Wilcox Enterprises, Inc. (US), Bharat Heavy Electricals Limited (BHEL) (India), Byworth Boilers Limited (UK), Cleaver-Brooks, Inc. (US), Dongfang Electric, Corporation Limited (DEC Ltd.) (China), GE Power (US), Harbin Electric Company Limited (China), IHI Corporation (Japan), John, Wood Group PLC (UK), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Robert Bosch GmbH (Germany), Siemens AG (Germany), Sofinter Group (Italy), and Thermax Limited (India).

Market Segmentation

Market By Boiler Type

• Fire-tube
• Water-tube

Market By Applications

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

Market By Fuel

• Natural Gas & Biomass
• Coal
• Oil
• Others

Market By Geography

North America

• U.S.
• Canada

Europe

• UK.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa