The report “Industrial Boilers Market by Fuel (Natural Gas, Coal, Oil), Boiler (Fire-Tube, Water Tube), Function (Hot Water, Steam), Boiler Horsepower (10-150 BHP, 151-300 BHP, 301-600 BHP), End-Use Industry, And Region – Global Forecast to 2030 “, MarketsandMarkets: The global market size of industrial boilers is projected to grow from USD 15.3 billion in 2022 to USD 19.8 billion by 2030, at a CAGR of 3.3% during the forecast period. Stringent government regulations to minimize carbon emissions and maximize renewable energy usage, increase power and food industry demand, and use clean technology in the chemical end-use industry drive the industrial boilers market.
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• 249 Market data Tables
• 55 Figures
• 239 Pages and in-depth TOC on “Industrial Boilers Market – Global Forecast to 2030″
Some of the prominent key players are:
- 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)
Opportunity: Adoption of biomass boilers to achieve low-carbon-emissions targets
The increasing demand for renewables drives the demand for biomass boilers. The market is primarily driven by the rise in sustainable energy, increased environmental concerns, and the benefits of biofuels over conventional alternatives. Manufacturers prefer renewable energy sources such as biomass boilers as they are eco-friendly and effectively reduce emissions. Biomass boilers are carbon neutral and provide economic benefits. They use wood as the primary fuel source, a sustainable and ecofriendly option. According to EHI, 40% of the wood produced annually in Europe is used for heating purposes in European residential and nonresidential buildings.
In terms of value, fire-tube boilers are estimated to be the largest market in the global industrial boilers market, by boiler type, during the forecast period.
Fire-tube boilers are also referred to as shell & tube boilers or smoke tube boilers. Fire-tube boilers are usually preferred for industrial purpose as these boilers are fuel-efficient & and easy to operate. However, other boilers such as Fluidized bed combustion boilers are gaining traction in the market. It has emerged as a viable alternative and has significant advantages over conventional firing systems and offers multiple benefits, including compact boiler design, fuel flexibility, higher combustion efficiency and reduced emission of toxic pollutants such as SOx and NOx.
Europe accounted for second largest region, by value, during the forecast period 2022-2030
Europe accounts for a significant share in terms of consumption in the industrial boilers market. Numerous manufacturers, particularly in the chemical and food end-use industries, influence the demand for industrial boilers. Major sales of chemicals in Europe are in terms of petrochemicals and polymers. Germany is the largest producer of chemicals in Europe. The region has witnessed a rise in government initiatives for implementing clean energy in the industrial sector. Industrial boilers are an efficient and clean energy alternative to help address the energy challenges faced by the region.
