Industrial Boiler Market Overview
Stellar Market Research, an Industrial Boiler business research firm has published a report on the “Industrial Boiler Market”.
The global industrial boiler market was valued at USD 33.70 billion in 2023 and is projected to grow at a CAGR of 5.66% between 2024 and 2030, reaching nearly USD 49.55 billion by 2030. Industrial boilers, which generate steam for power generation and various industrial heating applications, are widely utilized in industries such as chemicals, pharmaceuticals, metal processing, food and beverages, and mining.
The COVID-19 pandemic had a notable impact on the boiler industry, especially in maintenance services. Social distancing and lockdown measures disrupted regular maintenance services. However, the industry has since rebounded, with businesses adopting COVID-19 protocols to continue operations.
Industrial Boiler Market Dynamics:
Drivers:
Rising Industrialization: The rapid expansion of industrial activities globally is a significant driver for the industrial boiler market. Industries such as chemicals and petrochemicals, paper and pulp, and food and beverages increasingly require high-quality, energy-efficient boilers to meet growing demands.
Technological Advancements: Advanced technology aimed at reducing carbon emissions is driving the adoption of modern industrial boilers, contributing to market growth.
Restraints:
Environmental Concerns: Industrial boilers often rely on coal as a fuel source, which contributes to high carbon emissions. This poses a significant restraint for market growth as the global push for reducing carbon footprints intensifies.
High Capital Costs: The high capital and installation costs of industrial boilers, along with logistical challenges in supplying boilers to remote locations, present obstacles for market expansion.
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Industrial Boiler Market Regional Insights
Asia Pacific: Rapid industrialization in countries like China, India, and Japan is driving the demand for industrial boilers. The region is expected to account for two-thirds of the global energy demand growth, with the market anticipated to grow at the highest CAGR from 2024 to 2030.
Industrial Boiler Market Segmentation
by Type
Fire-tube
Water-tube
by Distribution Channel
Paper & Pulp
Food & Beverages
Metals & Mining
Others.
By Technology
Condensing
Non-condensing
By Fuel
Natural Gas
Oil
Coal
Other
By Fuel
Natural Gas
Oil
Coal
Other
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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 are:
- What is Industrial Boiler?
- What was the Industrial Boiler market size in 2023?
- What is the growth rate of the Industrial Boiler Market?
- Which are the factors expected to drive the Industrial Boiler market growth?
- What are the different segments of the Industrial Boiler Market?
- What growth strategies are the players considering to increase their presence in Industrial Boiler?
- What are the upcoming industry applications and trends for the Industrial Boiler Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Boiler Market?
- What segments are covered in the Industrial Boiler Market?
- Who are the leading companies and what are their portfolios in Industrial Boiler Market?
- What segments are covered in the Industrial Boiler Market?
- Who are the key players in the Industrial Boiler market?
For further insights on this topic, explore the full report at the following link
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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