India Process Boiler and Heating Equipment Market is expected to grow at a robust CAGR
India Process Boiler and
Heating Equipment Market is expected to grow owing to focus on sustainability
and energy efficiency throughout the forecast period.
According to TechSci
Research report, “India Process
Boiler and Heating Equipment Market – By Region, Competition, Forecast and Opportunities, 2019-2029”,
the India Process Boiler and Heating Equipment Market is expected to register
robust growth during the forecast period. The market growth can be attributed
to the increasing demand for industrial heating equipment in diverse process
industries. Furthermore, government initiatives like Make in India, National
Manufacturing Policy, and the promotion of renewables and clean fuel usage are
expected to drive the demand for process boilers and heating equipment across
the country during the forecast period. There is a notable
opportunity to integrate renewable energy sources into the India Process Boiler
and Heating Equipment Market. As India continues to make investments in
renewable energy infrastructure, industries can explore the utilization of
solar thermal, geothermal, and biomass heating systems to decrease their
dependence on fossil fuels. Government incentives and subsidies for renewable
energy projects further augment this opportunity. Manufacturers specializing in
renewable energy-compatible heating solutions are poised to benefit from this
expanding market segment.
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Based on type, the Steam Boiler segment is expected to
dominate the market during the forecast period. Steam boilers are extensively
utilized in various industrial applications throughout India. Industries
including power generation, manufacturing, textiles, chemicals,
pharmaceuticals, and food processing rely on steam boilers for crucial
processes such as power generation, heating, sterilization, and drying. The
demand for steam boilers is closely intertwined with the growth of these
industrial sectors. Energy efficiency serves as a pivotal factor driving the
steam boiler segment. Industries are increasingly prioritizing the reduction of
operational costs and minimizing their carbon footprint. Consequently, there is
a mounting demand for high-efficiency steam boilers that can optimize fuel
consumption and minimize energy wastage. Steam boilers equipped with advanced
combustion systems, heat recovery mechanisms, and intelligent controls are
gaining significant popularity. The steam boiler segment is greatly influenced
by stringent environmental regulations and emissions standards. Industries must
ensure that their steam boilers adhere to emissions limits to minimize the
environmental impact. This has resulted in the adoption of technologies like
selective catalytic reduction (SCR) systems and flue gas desulfurization (FGD)
units in steam boilers to reduce the emissions of pollutants such as NOx and
SOx. A considerable number of existing steam boilers in India are aging and
exhibit lower energy efficiency. Industries are actively seeking to replace or
upgrade their older boilers with newer, more efficient models. This presents a
significant opportunity for steam boiler manufacturers and service providers to
offer advanced, energy-efficient steam boilers, as well as retrofit solutions.
Based on Fuel Type, the Oil
& Gas segment is projected to dominate the market throughout the forecast
period. The oil and gas industry is increasingly prioritizing energy efficiency
and sustainability. Consequently, there is a rising demand for heating
equipment that not only meets energy requirements but also optimizes energy
consumption. Manufacturers are actively developing energy-efficient boilers
with advanced combustion systems, heat recovery capabilities, and intelligent
controls to satisfy these demands while reducing operational costs. To improve
efficiency, safety, and emissions control, the aging infrastructure within the
oil and gas sector necessitates retrofitting and upgrading. Manufacturers and
service providers in this sector can offer retrofit solutions to enhance the
performance of existing heating equipment and ensure compliance with
regulations. This entails integrating modern control systems, safety features,
and emission control technologies. Indian manufacturers of heating equipment
for the oil and gas sector have export opportunities in countries with similar
industry requirements. Establishing a presence in international markets can
expand the customer base and provide access to regions with growing oil and gas
operations. Technological advancements play a crucial role in the oil and gas
segment. Manufacturers are incorporating digitalization, automation, and remote
monitoring capabilities into heating equipment to enhance operational
efficiency, safety, and regulatory compliance. These innovations contribute to
better control over heating processes and adherence to industry regulations.
Key market players in the
India Process Boiler and Heating Equipment Market are:-
- Thermax Limited
- Cheema Boilers Limited
- Forbes Marshall Pvt. Ltd.
- Industrial Boilers Limited
- Thermodyne Engineering
System
- Thermotech Systems Ltd.
- Aero Therm Systems Pvt. Ltd.
- Southern Boilers &
Equipment’s Pvt. Ltd.
- Energypack Boilers Pvt. Ltd.
- Shanti Boilers &
Pressure Vessels Pvt. Ltd.
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“The India Process Boiler
and Heating Equipment Market in South India is poised to be the dominant force
in the industry. The region boasts a robust presence of esteemed engineering
colleges and renowned research institutions, cultivating an environment of
innovation and technological advancements. Manufacturers have the opportunity
to forge collaborations with these esteemed institutions to develop
state-of-the-art heating solutions, including smart boilers equipped with
advanced control systems and integrated IoT capabilities. By remaining at the
forefront of technology, companies in South India can effectively distinguish themselves
in the market.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“India Process Boiler and
Heating Equipment Market Segmented By Type (Steam Boiler, Thermic Fluid Heater,
Hot Water Generator, Hot Air Generator and Waste Heat Recovery Boilers), By
Compliance (IBR and Non-IBR), By Fuel Type (Oil & Gas, Fossil Fuel and
Non-Fossil Fuel), By Region, and By Competition, 2019-2029F,” has evaluated the future growth
potential of India Process Boiler and Heating Equipment Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Process Boiler and Heating Equipment
Market.
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