Industrial Boiler Trends and Forecast
The future of the global industrial boiler market looks promising with opportunities in the chemical & petrochemical, paper & pulp, food & beverage, and metal & mining markets. The global industrial boiler market is expected to reach an estimated $17.6 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are increased manufacturing and process industries, strict regulations to control damaging emissions in the atmosphere, and growing focus on energy efficiency.
• Lucintel forecasts that fossil fuel is expected to witness the highest growth over the forecast period.
• Within this market, chemicals and petrochemicals will remain the largest segment.
• APAC is expected to witness highest growth over the forecast period.
USA: Babcock & Wilcox launches a new line of high-efficiency, lower-emission industrial boilers.
China: Chinese government allocates funding for research on advanced biomass-fueled industrial boilers.
Germany: Siemens unveils a digital platform for optimizing industrial boiler performance through remote monitoring and analysis.
India: Indian power plants plan upgrades to aging industrial boiler infrastructure to improve efficiency and meet stricter environmental regulations.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Industrial Boiler by Segment
The study includes a forecast for the global industrial boiler by fuel type, application, and region.
Industrial Boiler Market by Fuel Type [Shipment Analysis by Value from 2018 to 2030]:
• Oil & Gas
• Fossil
• Non-Fossil
• Biomass
Industrial Boiler Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemicals & Petrochemicals
• Paper & Pulp
• Food & Beverages
• Metals & Mining
• Others
Industrial Boiler Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Industrial Boiler Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial boiler companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial boiler companies profiled in this report include-
• Thermax
• Siemens
• Bharat Heavy Electricals
• Forbes Marshall
• Mitsubishi Heavy Industries
• Harbin Electric Corporation
• Cheema Boilers
• IHI Corporation
• AC Boilers
• Dongfang Electric Corporation
Recent Development in the Industrial Boiler Market
Babcock & Wilcox: Launched a new line of high-efficiency, lower-emission industrial boilers.
Siemens: Unveiled a digital platform for optimizing industrial boiler performance.
Mitsubishi Heavy Industries: Focuses on developing ultra-supercritical (USC) industrial boilers for significantly improved efficiency.
Viessmann Group: Expands its portfolio with a new line of condensing industrial boilers for improved overall efficiency.
Alfa Laval: Partners with a leading boiler manufacturer to integrate its heat exchanger technology for optimized steam production.
Bharat Heavy Industries Limited: Ramps up production capacity to meet the anticipated demand for new and modernized industrial boilers.
Hangzhou Boiler Group: Develops advanced biomass-fueled industrial boilers to contribute to clean energy goals.
Features of the Global Industrial Boiler Market
Market Size Estimates: Industrial boiler market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Industrial boiler market size by fuel type, application, and region in terms of value ($B).
Regional Analysis: Industrial boiler market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different fuel types, applications, and regions for the industrial boiler market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial boiler market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the industrial boiler market size?
Answer: The global industrial boiler market is expected to reach an estimated $17.6 billion by 2030.
Q2. What is the growth forecast for industrial boiler market?
Answer: The global industrial boiler market is expected to grow with a CAGR of 3.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the industrial boiler market?
Answer: The major drivers for this market are increased manufacturing and process industries, strict regulations to control damaging emissions in the atmosphere, and growing focus on energy efficiency.
Q4. What are the major segments for industrial boiler market?
Answer: The future of the global industrial boiler market looks promising with opportunities in the chemical & petrochemical, paper & pulp, food & beverage, and metal & mining markets.
Q5. Who are the key industrial boiler market companies?
Answer: Some of the key industrial boiler companies are as follows:
• Thermax
• Siemens
• Bharat Heavy Electricals
• Forbes Marshall
• Mitsubishi Heavy Industries
• Harbin Electric Corporation
• Cheema Boilers
• IHI Corporation
• AC Boilers
• Dongfang Electric Corporation
Q6. Which industrial boiler market segment will be the largest in future?
Answer: Lucintel forecasts that fossil fuel is expected to witness the highest growth over the forecast period.
Q7. In industrial boiler market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the industrial boiler market by fuel type (oil & gas, fossil, non-fossil, and biomass), application (chemicals & petrochemicals, paper & pulp, food & beverages, metals & mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Industrial Boiler Market, Industrial Boiler Market Size, Industrial Boiler Market Growth, Industrial Boiler Market Analysis, Industrial Boiler Market Report, Industrial Boiler Market Share, Industrial Boiler Market Trends, Industrial Boiler Market Forecast, Industrial Boiler Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.