Industrial Boiler Market Growing Demands and Forecast 2029

[manisha]

Boilers produce steam for use in power generation and a variety of other industrial heating applications.Industrial boilers are widely employed in the chemical and pharmaceutical sectors, as well as in the metal, food and beverage, and mining industries. The boiler business has been adversely damaged by Covid 19. Many boiler maintenance businesses have been unable to conduct maintenance services as frequently as they once did due to severe rules on social separation and lockdowns. Despite these obstacles, some boiler maintenance companies have emerged and are currently offering their services by providing COVID-19 protocols.

Industrial Boiler Market Report Scope and Research Methodology:

The Market report provides historical data as well as revenue growth estimates at the regional, and national levels, as well as a full analysis of Industrial Boiler market trends in each of the key segments and their sub-segments from 2022 to 2029. The Stellar Market Research team's major research approach is data triangulation, which includes an investigation of the impact of data variables on the Industrial Boiler  market, data mining, and primary (industry expert) validation. The research report covers the market's past and present state, as well as predicted trends and size. The report provides an easy-to-understand examination of the Industrial Boiler market's intricate statistics. report. SWOT analysis was utilised to identify the strengths, weaknesses, opportunities, and threats for major players in the Industrial Boiler industry, and a bottom-up technique was employed to estimate market size.

Industrial Boiler Market Report Overview:

The forecast was created mostly by analysing past data and current industry trends in the Industrial Boiler Market. It includes market size, share, regional analysis, dynamics, CAGR, ad future trends, making the study a guide for investors as it provides a futuristic view of the Industrial Boiler Industry.

Industrial Boiler Market size was valued at US$ 31.9 billion in 2022 and is expected to grow at 5.66% through 2023 to 2029, reaching nearly US$ 46.9 Billion.

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Industrial Boiler Market Dynamics:

The fast development of companies around the world, as well as the growing demand for high-quality, energy-efficient boilers, are driving the industrial boiler market. Furthermore, technological advancements and improved technology used to reduce carbon emissions are expected to fuel the Industrial Boiler market.

Industrial Boiler Market Segmentation:

The fire-tube boiler operates at a pressure of up to 20 bar. Because it takes more floor space and cannot handle load fluctuations readily, this type of industrial boiler is only employed in small power plants. Because short tubes can hold high pressure better and are less prone to fracturing and failure, the water-tube boiler portion is better suited to high-pressure steam generation. In 2020, the water-tube boiler sector accounted for 60% of the industrial boiler market. This segment is expected to grow at a 6.5% CAGR over the projection period (2021-2027).

Chemicals and petrochemicals, paper and pulp, food and beverages, metals and mining, and others are the application segments.

The Chemicals & Petrochemicals category is the largest end-use industry in the Global Industrial Boiler Market and is expected to grow further due to rising demand for high-quality steam for chemical production.

Heat or steam was necessary at many stages in the food and beverage industries, including batching, processing, steaming, and cleaning. As a result, installing boilers in F&B establishments has become a requirement, significantly increasing the size of the boiler market.

Condensing boilers are 25% more efficient than non-condensing boilers in terms of technology because condensing boilers collect up to 11% more heat than non-condensing boilers.According to the Energy Saving Trust, the improved efficiency of condensing boilers leads in annual savings of up to $4250.65 USD. As enterprises use boilers on a bigger scale, the condensing boiler industry is likely to develop across the board.

Natural gas is predicted to lead the industrial boiler market in terms of fuel due to its ease of availability and low CO2 emissions. Biomass fuels are made from wood pellets, wood chips, or plant resources. The use of low-quality gasoline can result in higher emissions, low efficiency, component failure, repair costs, and high operating costs.

Industrial Boiler Market Key Players:

Bharat Heavy Electricals
A.O. Smith
Parker
Cleaver-Brooks
Thermax
Weil-McLain
Fulton
General Electric
Babcock and Wilcox
Forbes Marshall
Burnham
Hurst Boiler and Welding
Cochran
DEC
John Wood Group PLC
IHI Corporation
Mitsubishi Hitachi Power Systems, Ltd.
ANDRITZ
ALFA LAVAL
Bryan Steam
Superior Boiler Works, Inc.
Vapor Power
Sofinter S.p.a, AB&CO GROUP
ZOZEN boiler Co., Ltd.

Key Questions answered in the Industrial Boiler Market Report are:

What are the Industrial Boiler market segments?

Which region of the Industrial Boiler  market is expected to grow at a high rate during the forecast period?

What is the expected CAGR of the Industrial Boiler  market during the forecast period?

What are the emerging trends in the Industrial Boiler market?

What are the factors restraining the Industrial Boiler market growth?

Key offerings:

• Past Market Size and Competitive Landscape 
• Past Pricing and price curve by region 
• Market Size, Share, Size & Forecast by different segment 
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segments and sub-segments
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective 
• PESTLE Analysis 
• PORTER’s analysis 
• Value chain and supply chain analysis 
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis 
• Recommendations 

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About Stellar Market Research

Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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