Global Industrial Boilers Market is expected to grow at a robust CAGR.
Global Industrial Boilers Market is expected to grow owing to stringent
government regulations to minimize carbon emissions and maximize renewable
energy usage throughout the forecast period.
According to TechSci Research report, “Industrial Boilers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”,
the Global Industrial Boilers Market is expected to register robust growth during the forecast period owing to
the growth of the industrial boilers market in the forecast period include the
growing demand for industrial boilers in the food and beverage industry, the
increasing adoption of clean technology in the chemical sector, and the rising
need for electricity. Additionally, the growing utilization of natural gas is
anticipated to create potential opportunities for the expansion of the industrial
boilers market in the forthcoming years.
Several government policies
in developed and developing countries aim to promote the reliance on renewable
energy sources, thereby reducing carbon emissions. These policies not only
contribute to market growth but also serve as regulatory frameworks and provide
government grants to incentivize industries to adopt renewables. Consequently,
biomass heating companies are increasingly transitioning to biomass as a
result. A notable example is Saica, a recycling company based in Spain, which
recently installed a biomass boiler at its paper mill in Venizelos, France.
This boiler effectively utilizes excluded materials from paper products and
recycled wood to generate steam, resulting in an impressive annual reduction of
onsite carbon dioxide emissions by 71%. Furthermore, the consumption of natural
gas is estimated to decrease by 89%.
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The Global Industrial
Boilers Market is segmented based on component, application, end-user and
region. Based on component, the market is bifurcated into hardware, software
& services. Based on application, the market is bifurcated into transmission
lines, distribution lines. Based on end-user, the market is bifurcated into public
utility, private utility. Based on region, the market is further bifurcated
into North America, Asia-Pacific, Europe, South America, Middle East &
Africa.
Based on type, Water-tube segment is expected to dominate the market during the forecast period. Water-tube
boilers provide superior control over steam quality and quantity. The
segregated steam and water spaces within the tubes enable precise regulation of
steam purity, which is critical in industries like power generation and
chemical processing. Water-tube boilers find application in both upstream and
downstream operations of the oil and gas sector, encompassing refining,
enhanced oil recovery, and steam-assisted gravity drainage (SAGD) processes.
Additionally, industries such as paper and pulp, food and beverage, and textile
manufacturing employ water-tube boilers for steam generation in diverse
production processes. The versatility of water-tube boilers allows for the
utilization of a wide range of fuel types, including coal, oil, natural gas,
biomass, and even waste materials. This adaptability empowers industries to
select the most cost-effective and environmentally friendly fuel source tailored
to their specific requirements.
Based on function, Hot
Water segment is projected to dominate the market throughout the forecast
period. Hot water boilers can be designed to operate on various fuel sources,
including natural gas, oil, biomass, and waste materials. This versatility
enables industries to choose the most suitable and cost-effective fuel type
based on availability and environmental considerations. The design of hot water
boilers focuses on optimizing energy efficiency through the use of heat
exchangers, which transfer heat from combustion gases to the water. This
efficient heat transfer minimizes energy waste and ensures a higher utilization
of the fuel's energy content for water heating. Hot water plays a vital role in
the food and beverage industry, where it is used for cleaning, sanitation, and
cooking purposes. Processes such as pasteurization and sterilization heavily
rely on hot water. Similarly, hospitals and healthcare facilities depend on hot
water for sanitation, sterilization, and the comfort of patients.
Key market players in the Global Industrial
Boilers Market are:-
- Mitsubishi
Heavy Industries Marine Machinery & Equipment Co. Ltd.
- General
Electric Company
- Harbin
Power Equipment Co. Ltd.
- IHI
Corporation
- Babcock
& Wilcox Co.
- Thermax
Ltd.
- Doosan
Heavy Industries & Construction
- Dongfang
Electric Corporation Ltd.
- Bharat
Heavy Electricals Ltd.
- Robert
Bosch GMBH
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“Europe
is expected to dominate the market during the forecast period. Europe
prioritizes the implementation of combined heat and power (CHP) systems that generate
heat and electricity from a single energy source. The integration of industrial
boilers with CHP systems enhances energy efficiency by utilizing waste heat to
generate electricity, resulting in reduced overall energy consumption. The
adoption of Industry 4.0 principles, such as digitalization and automation,
offers opportunities to optimize boiler performance, improve maintenance
strategies, and further decrease energy consumption.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Industrial Boilers Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Type (Fire-tube, Water-tube
and Others), By Function (Hot Water and Steam), By Fuel Type (Natural Gas &
Biomass, Oil and Coal), By End User (Food & Beverages, Chemical, Oil &
Gas, Manufacturing and Others), By Region, Competition,” has evaluated the future growth potential of Global Industrial Boilers 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 Global Industrial Boilers Market.
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