About Industrial Boilers
The industrial boilers are the closed vessel in which water or other liquid is heated from which steam is generated after which it is superheated with a combination of other components under the Vacuum or pressure. They are also used for cooling, humidification, cleaning, etc. in the production process along with power generation. The industrial boiler is of various types such as hot water boiler, steam boilers, water tube boilers, and many others. These boilers are widely used in many industries like oil & gas, chemical, food and beverage, power generation industry, etc.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.1% |
The market is highly fragmented due to the presence of several prominent vendors. Some of the leading players are adopting organic and inorganic strategies such as a merger, acquisition, product launches, among others in order to gain competitive advantage. Moreover, some of the prominent vendors are continuously focusing on technological advancements in order to offer the products as per the market necessities. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Industrial Boilers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bosch Thermotechnology (Germany), Mitsubishi Hitachi Power Systems, Ltd (Japan), General Electric Company (United States), Hurst Boiler & Welding Company, Inc. (United States), John Cockerill (Belgium), Byworth Boilers (United Kingdom), Unilux Advanced Manufacturing, LLC (United States), Cochran Energy Solutions (Scotland), Fulton Company (United Kingdom) and Danstoker A/S (Denmark) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Zhengzhou Boiler Co. Ltd. (China) and Shanghai Industrial Boiler Co., Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Boilers market by Type (Hot Water Boiler, Coal-Fired Boilers, Oil/ Gas Boilers, Vertical Boilers, Steam Boilers, Watertube Boilers, Hybris HD Boilers and Others) and Region.
On the basis of geography, the market of Industrial Boilers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Combustion System {oil, gas, coal, electricity, biomas} will boost the Industrial Boilers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Manufacturing will boost the Industrial Boilers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel, the sub-segment i.e. Solid {Wood, Coal, Briquettes, Pet Coke, Rice Husk} will boost the Industrial Boilers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System, the sub-segment i.e. Heat Distribution System will boost the Industrial Boilers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Steam Industrial Boilers, Growing Popularity of Industrial Boilers in APAC Region and Technological Advancements in Industrial Boilers
Market Growth Drivers:
Growing Industrialization Across the Developing Countries and Need for Managing Industrial Level Water, Gas or Solid Handling for Various Applications
Challenges:
Complexities with Installation of Industrial Boilers and Aggressive Competition in Industrial Boilers Market
Restraints:
Regulatory Considerations with Industrial Boilers
Opportunities:
Introduction of Various Progressive Programs Towards Technologically Advanced Installation and Upgradation of Boilers for better Industrial Operations, will Lead to Positive Impact on the Industrial Boilers Market.
Market Leaders and their expansionary development strategies
In May 2023, MIURA CO.,LTD. (Head Office: Ehime, Japan; President & CEO: MIYAUCHI Daisuke) and Modern Hydrogen Inc. (Head Office: Washington, USA; Co-founder & CEO: Tony Pan) have concluded an agreement on a strategic and equity partnership, aiming at clean hydrogen production and decarbonization of boiler operations using existing gas infrastructure.
In December 2023, Bradford White Water Heaters, an industry-leading manufacturer of water heaters, boilers and storage tanks, announces the release of its new Brute® XTR commercial boilers and volume water heaters. Brute XTR boilers and volume water heaters are available in six sizes, ranging from 399 MBH to 1500 MBH, and deliver AHRI-certified thermal efficiency of 96-plus percent.
"The National Emission Standards for Hazardous Air Pollutants (NESHAP) has given a provision that requires further particulate matter (PM) performance testing every 5 years for boilers with initial compliance tests showing that their PM emissions are equal to or less than half of the PM emission limit replaced the February 2013 final rule’s provision that eliminated further PM performance testing for such boilers. New or reconstructed boilers that commenced construction or reconstruction on or before September 14, 2016, and that previously demonstrated that their PM emissions were equal to or less than half of the PM emission limit are provided 5 years before they are required to conduct a performance test. Boilers that burn a new type of fuel, other than ultra-low-sulfur liquid fuel or gaseous fuels, are required to conduct a new performance test within 60 days of burning the new fuel type."
Key Target Audience
Industrial Boilers Manufacturers, Industrial Boilers International Traders, Industrial Boilers Distributors and Suppliers, Research and Development Institutes, Potential Investors, Upstream and Downstream Buyers, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.