Global Industrial Boilers Market Report 2023: Sector is Expected to Reach $14.6 Billion in 2028 at a CAGR of 4.8%
DUBLIN, July 6, 2023 /PRNewswire/ -- The "Industrial Boilers: Technologies and Developing Markets" report has been added to ResearchAndMarkets.com's offering.
The global industrial boilers market is expected to reach $14.6 billion by 2028 from $11.5 billion in 2023 at a CAGR of 4.8%.
The industrial boiler market is expected to grow due to the rising demand for steam in the power generation, chemical and food industries. Also, significant growth prospects in industrialization across developing economies are likely to drive the demand for industrial boilers.
Stringent government regulations to reduce carbon emissions from coal-fired boilers are anticipated to propel the demand for biomass boilers. Also, the supportive initiatives for adopting efficient heating systems and surging demand for steam and hot water for industrial applications will propel the demand for industrial boilers, which will help augment the market over the coming years.
Rapid industrialization is one of the prominent factors attributed to the demand for industrial boilers, further leveraging the market growth. After the pandemic subsided, the world witnessed growth in manufacturing production across countries and major sectors in 2021.
According to a World Manufacturing Production report, global manufacturing output saw a year-over-year growth rate of between 3% and 4% in 2021 and is projected to increase in the coming years. Industrial economies currently account for almost 91% of global manufacturing output. Thus, such growth prospects in the manufacturing sector are anticipated to likely drive the demand for boilers for various industrial processes, bolstering market growth.
Government regulations for mitigating carbon emissions from industrial activities will boost the demand for biomass boilers, wherein these boilers supply energy and at the same time help dispose of wood and other waste material. It is an effective low-carbon alternative to more traditional heating systems.
Also, supportive government policies for generating renewable energy is further augmenting the demand for biomass boilers. The growing investment in biomass boilers and rising awareness among the population to adopt energy-saving solutions for emission control are the prominent factors attributed to the demand for biomass boilers in industries, which will also help propel the market growth over the forecast period.
This report analyzes different industrial boilers by boiler type, function type, fuel type, capacity, end-use industry, and regional market development. Furthermore, the report segments the market by major countries, such as the U.S., China, Germany, India, and others, where the opportunities for industrial boilers are lucrative.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, etc. We have also included a list of other companies in global and regional markets. Also, the report includes a patent analysis for the industrial boiler market, which represents a significant investment area for investors.
The report incorporates an analysis of the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.
In this report, 2022 is used as the market's base year, estimated values are provided for 2023, and the market values are forecast from 2023 to 2028. All market values are provided in millions of dollars, and market shares and compound annual growth rates (CAGRs) are provided in percentages.
Companies Mentioned
- Alfa Laval
- Andritz Group
- Babcock & Wilcox Enterprises Inc.
- Bharat Heavy Electricals Ltd.
- Bosch Group
- Byworth Boilers
- Cleaver-Brooks
- Forbes Marshall
- Fulton Boiler Works Inc.
- Harbin Electric Co. Ltd.
- IHI Corp.
- John Cockerill
- Johnston Boiler Co.
- Mitsubishi Heavy Industries Ltd.
- Miura America Co. Ltd.
- Siemens AG
- Thermax Ltd.
Report Includes
- 67 data tables and 37 additional tables
- An overview of the global market for industrial boilers
- Analyses of global market trends, with data for 2022, estimates for 2023 and projections of compound annual growth rates (CAGRs) through 2028
- Information on history and evolution, advancements, applications and benefits of industrial boilers
- Coverage of industrial boiler technology by various categories, along with relevant market and production information, technological descriptions, issues involved, applications, and growth driving factors and potentials
- Assessment of governmental regulations regarding boiler emissions and standards, and identification of key laws that are expected to drive development of industrial boilers markets
- Examination of the moderate level of fragmentation among smaller and specialty boiler makers
- Analyses of manufacturing industries these boilers widely support, including food and food products, chemicals, paper and paper products, petroleum refining and petroleum products, and metals
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Current Market Overview
- History of Industrial Boilers
- Boiler Capacity: Key Terminology
- Classification of Boilers
- Firetube Boilers
- Watertube Boilers
- Industrial Boiler Auxiliary Systems
- Selection Criteria of Boiler
- Characteristics of a Good Boiler
- Industrial Boiler Efficiency
- Boiler Efficiency Overview
- Typical Boiler Efficiency
- Supply Chain Analysis for the Market for Industrial Boilers
- Porter's Five Forces Model
- Bargaining Power of Supplier
- Bargaining Power of Buyer
- The Threat of New Entrants
- Threat of Substitutes
- Competitive Rivalry
- PESTLE Analysis
- Impact of COVID-19 on the Global Market for Industrial Boilers
- Impact of Russia-Ukraine War on the Global Market for Industrial Boilers
- Regulatory Landscape
- North America
- North America Analysis
- U.S. EPA Boiler MACT
- U.S. EPA NESHAP
- Canadian Council of Ministries of the Environment
- Greenhouse Gas Emissions Regulations
- Europe
- European Energy Efficiency and Greenhouse Gas Emissions
- European Air Emission Standards
- Europe Analysis
- Asia-Pacific
- China
- Japan
- India and Southeast Asia
Chapter 4 Market Dynamics
- Overview
- Market Drivers
- Growing Industrialization in Developing Economies Propels the Market Growth
- Increasing Demand for Boilers from Food/ Beverage and Chemical Industries
- Market Restraints
- High Initial Cost is Expected to Restrain Market Growth
- Current Market Trends
- Upgrading and Replacement of Existing Boilers
- Stringent Regulations for Emitting Carbon Emissions
- Market Opportunities
- Increasing Demand for Biomass Boilers to Mitigate Carbon Emission
- Growing Focus on Generating Renewable Energy Sources
Chapter 5 Market Breakdown by Boiler Type
- Overview
- Firetube Boilers
- Watertube Boiler
Chapter 6 Market Breakdown by Type of Function
- Overview
- Radiation
- Convection
- Conduction
- Hot Water
- Steam
Chapter 7 Market Breakdown by Fuel Type
- Overview
- Natural Gas
- Coal
- Oil
- Biomass
- Others
Chapter 8 Market Breakdown by Capacity
- Overview
- Less Than 10 MMBtu/hr
- 11-50 MMBtu/hr
- 51-100 MMBtu/hr
- 101-250 MMBtu/hr
- Above 250 MMBtu/hr
Chapter 9 Market Breakdown by End-Use industry
- Overview
- Chemical and Petrochemical
- Food and Beverage
- Paper and Pulp
- Metal and Mining
- Power Generation
- Oil and Gas
- Others
Chapter 10 Market Breakdown by Region
Chapter 11 Emerging Technologies and Developments
- Technology Overview
- Boiler Tubes with Helical Ribs Increase the Heat Transfer Coefficient in Applications Using Fluids with Low Thermal Conductivity
- Current Technology Development
- Energy Efficiency
- Boiler Emissions
- Methods to Reduce Boiler Emissions
Chapter 12 Patent Analysis
- Overview
- Patent Descriptions for Industrial Boilers
Chapter 13 M&A and Fundings Outlook
- M&A Analysis
- Venture Capital in the Industrial Boilers Industry
Chapter 14 Competitive Landscape
- Overview
- Market Share Analysis
- Strategic Analysis
- Product Mapping Analysis
- Product Mapping Analysis by Fuel Type
- Key Developments
- Industry Organizations
Chapter 15 Company Profiles
Chapter 16 Appendix: Acronyms
For more information about this report visit https://www.researchandmarkets.com/r/2lno0s
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