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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