Global Industrial Boilers Market Outlook:

The anticipated Global Industrial Boilers market size is poised to reach USD XX. XX Million by 2024, with a projected escalation to USD XX.XX Million by 2032, reflecting a compound annual growth rate (CAGR) of X.X% during the forecast period.

Boilers effectively heat water or create steam in industrial environments to support different production activities. The move from basic heating solutions and stricter national pollution rules help the industry develop. Enhanced boiler technology plus growing heat and steam requirements in businesses builds up future market expectations. Growth chances in the industry will increase because customers want more heating units at their new industrial facilities. Efficient steam generation technology and industrial development create positive market opportunities. The boiler market grows because companies now invest in upgrading their industrial plants to provide better heat services while they replace their old boilers with more powerful replacements.

Market Dynamics:

Driver:

Biomass boiler sales for industry rise due to fast industrial expansion and government rules against carbon pollution from coal-fired boilers. Various industries and government support programs promote market expansion as companies need more industrial boilers throughout their sectors. Different national government departments help support renewable power and biomass boiler systems through financial advantages. The US government wants to get 20% of its power from renewable sources by 2030 which encourages sales of biomass boilers across America. The European Union works to reach its goal of obtaining 32% of its energy needs from renewable energy by 2030 which requires effective industrial boiler solutions.

Restraint:

You must spend much money at first to get and put an industrial boiler into service. The equipment demands regular service and evaluation because maintaining these boilers creates expensive maintenance costs. Setting up industrial boilers demands substantial financial input for foundation work alongside technical services and personnel tasks. The installation expenses for industrial boilers depend both on their location and how difficult the setup process turns out to be and stands as one of the key financial choices of manufacturing plants. Setting up industrial boilers uses 15 to 20% of the total boiler system expenses. These elements stop the Industrial Boilers Industry from expanding.

Opportunity:

Energy consumers want more renewable power which increases the need for biomass boilers. Growing demand for renewable energy and biofuel makes people choose these solutions more than traditional energy methods because of environmental benefits. Manufacturers select biomass boilers because they provide both environmental protection and effective emission reduction. Using biomass boilers turns carbon emissions into zero while saving money. Biomass boilers depend mostly on wood which stands as an earth-friendly and renewable fuel choice. The European Institute for Innovation claims that 40% of the entire wood harvest each year in Europe goes toward heating homes and nonresidential buildings. The renewable energy market keeps expanding since both developed and developing nations adopt carbon reduction policies. Biomass heating firms need to switch to biomass more due to government grants and regulations that promote renewable energy use among industries. As a Spain-based recycling company Saica just started to use its new biomass boiler system at its Venizelos France paper factory. The boiler at the plant burns recycled materials and wood waste from manufacturing to make steam which decreases total on-site carbon dioxide production by 71% yearly. Overall usage of natural gas will decrease by 89%.

Key Players:

·         Babcock & Wilcox Enterprises INC (US)

·          Siemens AG (Germany)

·          John Wood Group PLC (UK)

·          Dongfang Electric Corporation Limited (DEC LTD) (China)

·          Mitsubishi Power (Japan)

·          Thermax Limited (India)

·          Sofinter Group (Italy)

·          Bharat Heavy Electricals Limited (BHEL) (India)

·          Harbin Electric Company Limited (China)

·          IHI Corporation (Japan)

·          Alfa Laval AB (Sweden)

·          Andritz AG (Austria)

·          Robert Bosch GMBH (Germany)

·          Cleaver Brooks Inc. (US)

·          Byworth Boilers Limited (UK)

Recent Development:

·         In January 2023, Babcock & Wilcox Enterprises Inc agreed to team up with Fidelis which drives energy transition by creating infrastructure for renewable fuels and low or zero carbon emission products to generate pure hydrogen power.

·         In December 2022, Mitsubishi Heavy Industries collaborated with Mitsubishi Electric to expand their gas power generation business better.

·         In July 2022, Bosch launched an electric steam boiler to provide sustainable heat and steam solution. The electric boiler produces zero emissions for every part of its operation. The boiler can deliver steam output between 350 and 7500 kilograms per hour.

Segment Insights:

By Boiler Type

The Water-tube Boiler sector experiences the quickest expansion among different industrial boiler uses. The water-tube boilers market records the top growth rate of 3.7% over the coming ten years to 2030. These systems tolerate greater temperatures and pressures without needing construction wall reinforcement. FCB boilers offer superior performance compared to regular boilers and their combustion units because they provide several benefits as a single system. They support multiform fuels and optimize energy usage while limiting toxic gas discharges.

By Boiler Horsepower

Industrial boilers range between 301 BHP and 600 BHP with medium to large power capacity. This type of boiler achieves good performance under elevated thermal and pressure conditions. Manufacturing and operations rely on these boilers because they produce superior quality hot steam at high volumes. The plants produce power at the same time they create heat to generate electricity. The growing need for steam at high temperature and pressure will boost 301–600 BHP boiler market growth over the next years.

Regional Insights:

The industrial boilers market in Asia Pacific will expand the fastest at a rate of 4.1% annually over the next years. The developing chemical and petrochemical sectors of China and India will boost future industrial boiler demand levels. Gas boilers are becoming more popular across Asia Pacific because sector leaders want to make their operations greener. These machines run five times better than regular coal plants which makes them produce 65% less CO2. Companies already use hydrogen at their plants and future installations can embrace this clean fuel to make further decreases in emission. Through 2025 all these businesses plan to operate using only hydrogen fuel. Companies in the Asia Pacific are changing to gas boilers to improve power distribution throughout the region.

Segmentation:

By Fuel Type

·         Natural gas

·         Oil

·         Coal

·         Others (biomass, nuclear)

By Function Type

·         Steam

·         Hot water

By Boiler Type

·         Fire-tube

·         Water-tube

·         Others

By Boiler Horsepower

·         10-150 BHP

·         151-300 BHP

·         301-600 BHP

·         Above 600 BHP

By End-use

·         Chemicals

·         Metal

·         Plastic

·         Food & Beverage

·         Textile

·         Wood

·         Paper

·         District heating

·         Others

By Region

North America

·         USA

·         Canada

·         Mexico

Europe

·         France

·         UK

·         Spain

·         Germany

·         Italy

·         Rest of Europe

Asia Pacific

·         China

·         Japan

·         India

·         South Korea

·         Rest of Asia Pacific

Middle East & Africa

·         GCC

·         South Africa

·         Rest of the Middle East & Africa

South America

·         Brazil

·         Argentina

·         Rest of South America

What to Expect from Industry Profile?

1.       Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Industrial Boilers market in the world.

2.       Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Industrial Boilers market.

3.       Leading company profiles reveal details of key Industrial Boilers market players’ global operations, strategies, financial performance & recent developments.

4.       Add weight to presentations and pitches by understanding the future growth prospects of the Global Industrial Boilers market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) Which are the key drivers supporting the growth of the Industrial Boilers market?

·         Rising Demand for Energy-Efficient Boilers are the key drivers supporting the growth of the Industrial Boilers market.

2) What is the total CAGR expected to be recorded for the Industrial Boilers market during the forecast period?

·         The Global Industrial Boilers Market is poised to grow at a CAGR of XX.XX% from 2024 to 2032.

3) How is the shift towards green energy impacting the industrial boilers market in the United States?

·         In the United States, the trend towards green energy and lower emissions is greatly influencing the industrial boilers industry. Firms are increasingly looking for energy-efficient and low-emission boiler systems to meet Environmental Protection Agency (EPA) regulations and federal policies that seek to lower carbon footprints.

4) What role do industrial boilers play in the United Kingdom’s decarbonization efforts?

·         Industrial boilers in the United Kingdom play a crucial role in achieving the nation's ambitious decarbonization targets. This transition is part of the UK's overall strategy to cut industrial carbon emissions and promote a green economy.

5) Who are the major companies dominating the Global Industrial Boilers Market?

·         Babcock & Wilcox Enterprises INC (US), Siemens AG (Germany), Dongfang Electric Corporation Limited (DEC LTD) (China), John Wood Group PLC (UK), Mitsubishi Power (Japan).

5) What is the estimated market revenue for the Global Industrial Boilers Market in 2032?

·         The estimated revenue for the Global Industrial Boilers Market in 2032 is USD XX.XX Million.

6) Which Boiler type had the largest market share in the Industrial Boiler Market?

·         Fire tube Boiler type had the largest market share in the Industrial boiler Market.