Industrial Boilers Market is Projected to Upsurge and Reach USD 20.5 Billion by 2027
The Global Industrial Boilers Market is projected to upsurge and reach USD 20.5 Billion by 2027 with the CAGR of over 5%
Boilers are the vessels for heating fluids (mostly water) for generation of hot water or steam, which can be used for various industrial activities. It operates through heating of fluids through combustion of fuel, wherein the combustion gas is ducted within the coils or the tubes present within the boiler. This heat generated within boiler produces steam, which is then circulated for generation of heat source or power. These industrial boilers are used across energy and power, pulp & paper, food & beverage, chemical, pharmaceutical industries, among others.
Industrial Boilers Market: Drivers & Opportunity
Market Drivers:
Rise in Demand for Energy
Growing demand for energy globally for performing industrial activities is expected to drive the Industrial Boilers Market. Boilers are used in the power generation for production of highly pressurized steam for electricity production. Strong economic growth, population growth, increasing dependence on renewable energy source, rapid industrialization in the emerging nations is generating higher need for energy. U.S. Energy Information Administration (EIA) estimates the global consumption of energy is expected to rise 50% between 2018 to 2050. Additionally, countries such as China, US, and India contribute for approximately 70% of the rise in energy demand around the world, which fuels the demand for industrial boilers.
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Growing Demand from Manufacturing Sector
Industrial boilers have gained immense importance in production facilities and operations across manufacturing sector for production and supply of heat energy, steam and hot water to carry out different purpose. Growing global population, increasing demand for food, higher preference for processed food products is driving demand for industrial boilers in food and beverage industry. Increasing demand for boilers for drying, sterilizing, and purifying process, is supporting the demand for industrial boilers in pharmaceutical sector.
Market Restraint:
Regulation on Industrial Boilers
The growth of the industrial boiler market is expected to hamper in the years to follow owing to strict regulation imposed by the regulatory authorities regarding CO2 and NOx emission. The US Environmental Protection Agency (EPA) has imposed stringent standard numerical limits for mercury, acid gas and other emissions to curb pollution.
Industrial Boilers Market: Key Segments
- On the basis of type: Fire-tube Boilers, Water-tube Boilers, Cast Iron Boiler
- On the basis of heat source: Coal, Biomass, Gas, Oil, Hydraulic, Wood and Others
- On the basis of application: Agriculture, Pulp and Paper, Food and Beverage, Chemical, Pharmaceutical and Energy & Power
- On the basis of region: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Industrial Boilers Market: Report Scope
The report on the Industrial Boilers Market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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List of the leading companies operating in the Industrial Boilers Market include:
- Thermax Global (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Siemens
- Forbes Marshall
- Babcock & Wilcox Enterprises, Inc.
- Mitsubishi Hitachi Power Systems, Ltd.
- IHI Corporation
- General Electric
- Amec Foster Wheeler
- DEC
- Robert Bosch GmbH
- Other Key Companies
Industrial Boilers Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Boilers Market, by Type
- Fire-tube Boilers
- Water-tube Boilers
- Cast Iron Boiler
Industrial Boilers Market, by Heat Source
- Coal
- Biomass
- Gas
- Oil
- Hydraulic
- Wood
- Others
Industrial Boilers Market, by Application
- Agriculture
- Pulp and Paper
- Food and Beverage
- Chemical
- Pharmaceutical
- Energy & Power
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Industrial Boilers Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- INTRODUCTION
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- GLOBAL INDUSTRIAL BOILERS MARKET BY TYPE, Market Size in USD Million (2019–2027)
- GLOBAL INDUSTRIAL BOILERS MARKET BY HEAT SOURCE, Market Size in USD Million (2019–2027)
- GLOBAL INDUSTRIAL BOILERS MARKET BY APPLICATION, Market Size in USD Million (2019–2027)
- Introduction GLOBAL INDUSTRIAL BOILERS MARKET BY REGION, Market Size in USD Million (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
- APPENDIX
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