Industrial Boilers Market by Fuel Type, Boiler Type, Boiler Horsepower, End-Use Industry and Region - Global Forecast to 2025
DUBLIN, March 27, 2020 /PRNewswire/ -- The "Industrial Boilers Market by Fuel Type (Natural Gas & Biomass, Oil, Coal), Boiler Type (Fire-Tube, Water-Tube), Boiler Horsepower, End-Use Industry (Chemical, Food, Refineries, Metals & Mining), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The industrial boilers market is estimated at USD 14.6 billion in 2020 and is projected to reach USD 19.3 billion by 2025, at a CAGR of 5.7% during the forecast period.
Natural gas & biomass is projected to be the fastest-growing fuel type segment in the industrial boilers market during the forecast period. Natural gas & biomass-fired boilers can either be fueled by natural gas or biomass with modifications accounting for the different characteristics of the fuels. Natural gas-fired boilers are most commonly used in western countries because of their easy availability and regulatory guidelines with respect to CO2 emissions. With increasingly stringent environmental regulations in developed countries, the natural gas & biomass segment is expected to grow at a rapid pace during the forecast period.
The chemical segment is projected to lead the industrial boilers market
The chemical segment is the largest end-use industry in the market, owing to a large number of installations across the industry. Industrial boilers in the chemical industry are primarily used to provide large quantities of high-quality, high-temperature steam for production processes. Major sectors in the chemical industry that require heat energy and power include petrochemicals, industrial gases, alkali and chlorine, synthetic rubber, synthetic organic fibers, and agricultural chemicals (fertilizers and pesticides).
10-150 BHP segment is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025
The 10-150 BHP is projected to be the fastest-growing boiler horsepower segment in the industrial boilers market during the forecast period. Industrial boilers ranging from 10 BHP to 150 BHP are small size boilers in terms of capacity. These boilers are commonly installed across end-use industries for steam and hot water applications. They are majorly available in standard designs according to their sizes, and there are very low customizations in these boilers. This range of boilers are very easy to install and are the highest manufactured industrial boilers around the world.
Based on the region, Asia Pacific is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025
The industrial boilers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China accounted for the major share of the global industrial boilers market in 2019, which is driving the growth of the Asia Pacific region. China, India, and Japan are expected to be lucrative markets for industrial boilers in the Asia Pacific region during the forecast period. Growth can be attributed to the increasing demand for industrial boilers from the region's chemical, food, refineries, metals & mining, among other end-use industries, particularly in China and India, which are witnessing rapid industrialization.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Boilers Market
4.2 Industrial Boilers Market, By Fuel Type & Boiler Type
4.3 Industrial Boilers Market, By Country
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Industrial Boilers From the Food & Beverage Industry
5.2.1.2 High Demand for Clean Technology in the Chemical End-Use Industry
5.2.1.3 Increasing Demand for Electricity
5.2.2 Restraints
5.2.2.1 Significant Capital Investment and High Cost of Installation
5.2.3 Opportunities
5.2.3.1 Aging Power Generation Infrastructure
5.2.3.2 Increasing Use of Natural Gas
5.2.3.3 Increasing Demand for Compact Designs and Lean Operations
5.2.4 Challenges
5.2.4.1 Boiler Efficiency and Steam Quality
5.2.4.2 Strict Emission Standards
5.3 Industrial Boilers Market: Trends
5.4 Value Chain Analysis
5.5 Porter's Five Forces Analysis
5.5.1 Bargaining Power of Buyers
5.5.2 Bargaining Power of Suppliers
5.5.3 Threat of New Entrants
5.5.4 Threat of Substitutes
5.5.5 Intensity of Competitive Rivalry
5.6 Macroeconomic Indicators
5.6.1 Chemical
5.6.2 Energy & Power
6 Industrial Boilers Market, By Fuel Type
6.1 Introduction
6.2 Natural Gas
6.2.1 Natural Gas-Fired Industrial Boilers are A Major Substitute for Conventional Fuel
6.3 Coal
6.3.1 Asia Pacific is the Largest Market for Coal-Fired Industrial Boilers
6.4 Oil
6.4.1 High Availability of Crude Oil in Asia Pacific is Expected to Drive Growth of the Market
6.5 Others
6.5.1 High Demand for Industrial Boilers Fired With Propane, Butane, and Wood in Asia Pacific is Expected to Drive the Other Fuel Type Segment
7 Industrial Boilers Market, By Boiler Type
7.1 Introduction
7.2 Fire-Tube
7.2.1 Fire-Tube Boilers are Highly Preferred
7.3 Water-Tube
7.3.1 Asia Pacific is the Largest Market for Water-Tube Industrial Boilers
8 Industrial Boilers Market, By Boiler Horsepower
8.1 Introduction
8.2 10-150 BHP
8.2.1 Asia Pacific is the Largest Market for 10-150 BHP Industrial Boilers
8.3 151-300 BHP
8.3.1 Asia Pacific is Estimated to Register High Growth During the Forecast Period
8.4 301-600 BHP
8.4.1 Increasing Demand for High Pressure Steam Output is Driving the Growth of the Segment
9 Industrial Boilers Market, By End-Use Industry
9.1 Introduction
9.2 Chemical
9.2.1 High Demand for Bulk Chemicals in Emerging Countries is Driving the Growth of the Chemical Segment in the Market
9.3 Food
9.3.1 Increasing Demand for Packaged Food is Expected to Fuel the Growth of the Food Segment in the Industrial Boilers Market
9.4 Refineries
9.4.1 CFBC Industrial Boilers are Widely Being Adopted in Refineries
9.5 Metals & Mining
9.5.1 High Pressure and Temperature Requirements in the Steel Industry to Drive the Growth of the Metals & Mining Segment
9.6 Others
9.6.1 Asia Pacific is the Largest Market for Other End-Use Industries in the Industrial Boilers Market
10 Regional Analysis
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Country
10.2.2 By Fuel Type
10.2.3 By Boiler Type
10.2.4 By Boiler Horsepower
10.2.5 By End-Use Industry
10.2.6 China
10.2.6.1 Rising Demand for Ammonia and Methanol in Chemical Applications Drives the Growth of the Industrial Boilers Market in China
10.2.7 India
10.2.7.1 Increased Manufacturing Activities are Contributing to the Growth of the Industrial Boilers Market in India
10.2.8 Japan
10.2.8.1 Growing Use of Boilers in the Chemical End-Use Industry to Drive the Growth of the Industrial Boilers Market in Japan
10.2.9 South Korea
10.2.9.1 Increasing Presence of Chemical Manufacturers Expected to Drive the Growth of the Industrial Boilers Market in South Korea
10.2.10 Malaysia
10.2.10.1 Rising Demand for Food Products is Expected to Drive the Industrial Boilers Market in Malaysia
10.2.11 Australia
10.2.11.1 Growth of the Chemical Industry is Fueling the Demand for Industrial Boilers in Australia
10.2.12 New Zealand
10.2.12.1 Growing Demand From the Chemical Industry Expected to Fuel the Industrial Boilers Market in New Zealand
10.2.13 Rest of Asia Pacific
10.2.13.1 Growth in the Manufacturing Sector to Drive the Industrial Boilers Market in the Rest of Asia Pacific
10.3 Europe
10.4 North America
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies
11.2.5 Strength of Product Portfolio
11.2.6 Business Strategy Excellence
11.3 Market Share of Key Players in the Industrial Boilers Market
12 Company Profiles
12.1 Babcock & Wilcox Enterprises, Inc.
12.2 GE Power
12.3 Siemens AG
12.4 John Wood Group PLC
12.5 Dongfang Electric Corporation Limited (Dec LTD.)
12.6 Mitsubishi Hitachi Power Systems, LTD.
12.7 Thermax Limited
12.8 Sofinter Group
12.9 Bharat Heavy Electricals Limited (BHEL)
12.10 Harbin Electric Company Limited
12.11 IHI Corporation
12.12 Alfa Laval AB
12.13 Andritz AG
12.14 Robert Bosch GmbH
12.15 Cleaver-Brooks, Inc.
12.16 Byworth Boilers Limited
12.17 Other Key Players
12.17.1 AB&CO Group
12.17.2 Bryan Steam LLC
12.17.3 Cochran LTD
12.17.4 Forbes Marshall Private Limited
12.17.5 The Fulton Companies
12.17.6 Vapor Power International, LLC
12.17.7 Superior Boiler Works Inc.
12.17.8 Hurst Boiler & Welding Company, Inc.
12.17.9 Johnston Boiler Company
12.17.10 Parker Boiler Company
12.17.11 Rentech Boiler Systems, Inc.
12.17.12 Suzhou Hailu Heavy Industry Co. LTD.
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