Industrial Boilers Market Report 2023: Replacement of Aging Boilers and Adoption of Supercritical and Ultra

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Jan 20, 2024

Industrial Boilers Market Report 2023: Replacement of Aging Boilers and Adoption of Supercritical and Ultra

Global Market Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Industrial Boilers

Global Market

Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.

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.

The stringent government regulations designed to minimize carbon emissions and maximize the use of renewable energy drives increased demand for power and food industries, as well as the use of clean technology in the chemical industry. This market is predicted to grow rapidly in the coming years.

In terms of value,water-tube accounts for the fastest-growing segment in industrial boilers market, by boiler type, during the forecast period.

The water-tube boiler segment is the fastest-growing application type of industrial boiler. In terms of value, it is projected to register a CAGR of 3.7% between 2022 and 2030. Water-tube boilers are particularly attractive in applications that require dry, high-pressure, high-energy steam, including steam turbine power generation. Water-tube industrial boilers are preferred in various industrial applications, such as chemical processing, pulp & paper, and refining units. They can be easily replaced or repaired.

In terms of value, coal is estimated to be account for sluggish growing segment in industrial boilers market, by fuel type, during the forecast period.

Coal is estimated to witness sluggish growth in the market during 2022-2030. This is attributed to the increasing demand for renewables. However, coal is widely available for industrial boilers and is more economical than other fuel types, such as nuclear energy and biomass.

In terms of value, 10-150 BHP is estimated to be third fastest-growing segment in industrial boilers market, by boiler horsepower type, during the forecast period.

The 10-150 BHP boilers segment is the third fastest-growing boiler horsepower type of industrial boiler. In terms of value, it is projected to register a CAGR of 2.9% between 2022 and 2030. Small-sized industrial boilers range from 10-150 BHP in terms of capacity and are used for steam and hot water applications in various industries like food processing & paper & pulp. They are available in standard designs based on their sizes with low customizations. These boilers are easy to install and are the highest manufactured industrial boilers worldwide. They are used in factories, schools, hospitals, and other large buildings requiring efficient heating.

In terms of value, hot-water is estimated to fastest growing segment in industrial boilers market, by function type, during the forecast period.

The hot water boilers segment is the fastest-growing function type of industrial boiler. In terms of value, it is projected to register a CAGR of 3.8% between 2022 and 2030. Hot water boilers are used in residential, commercial, and institutional buildings. These boilers are designed to operate on various fuel types such as heavy oil, light oil, gas, dual fuel, coal, husk, and other agro-waste fuels. They offer high efficiency, low maintenance, and good durability.

In terms of value, paper & pulp is estimated to be third fastest-growing segment in industrial boilers market, by end use, during the forecast period.

Paper & pulp is the third fastest growing segment by end-use during the forecast period 2022-2030. Industrial boilers generate steam for power and process systems in the paper industry. The high-pressure steam is used in steam turbines to generate electricity for the paper mill. The pulp & paper industry requires medium and low-pressure steam for various process applications, such as heating and cooking the wood chips to make wood pulp. In paper mills, steam is used in other applications such as heating chemicals, dryer drums, and other processes.

North America region accounted for the third-fastest growing segment in the industrial boilers market by value.

North America is the third-largest industrial boilers market in terms of value, in 2022. The countries in the region have already started implementing new regulations that promote the wide use of renewable fuels based boilers. North America houses many industrial boilers manufacturers. The region relies heavily on coal and gas for electricity generation. However, with the new regulations in compliance with the US Environmental Protection Agency's Mercury and Air Toxics Standards, net coal production capacity decreased by nearly 60 gigawatts (GW). It is further estimated that between 2017 and 2030, an additional 65 GW of coal-fired generating capacity would shut down due to competitively priced natural gas and increasing energy generation from renewable sources.

Research Coverage:

This research report categorizes the industrial boilers market based on fuel type, boiler type, function type, boiler horse type, end use, and region. Based on fuel type, the market has been segmented into coal, natural gas, oil & others. Based on boiler type, the market has been segmented into fire-tube boilers & water-tube boilers. Based on the function type, industrial boilers have been segmented into steam & hot-water boilers. Based on the boiler horsepower type, industrial boilers are segmented into 10-150 BHP, 151-300 BHP, 301-600 BHP & Above 600 BHP. Based on end-use industry, the market has been segmented into chemicals & petrochemicals, food, metals &mining, power generation and others. Based on region, the industrial boilers market has been segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches, investment & expansions, mergers & collaborations; and recent developments associated with the industrial boilers market.

Market Dynamics

Drivers

Government Policies to Increase Requirements for Industrial Boilers

Increasing Demand from Power and Food & Beverage Industries

High Demand for Clean Technology from Chemical Industries

Restraints

Significant Capital Investment and High Installation and Maintenance Cost

Opportunities

Adoption of Biomass Boilers to Achieve Low Carbon Emission Targets

Replacement of Aging Boilers and Adoption of Supercritical and Ultra-Supercritical Boilers

Increasing Demand for Compact Designs and Lean Operations

Challenges

Stringent Regulations and Emission Control

Increasing Energy Prices

Key Attributes:

Report Attribute

Details

No. of Pages

229

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$15.3 billion

Forecasted Market Value (USD) by 2030

$19.8 billion

Compound Annual Growth Rate

3.3%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industrial Boilers Market, by Fuel Type

7 Industrial Boilers Market, by Boiler Type

8 Industrial Boilers Market, by Function

9 Industrial Boilers Market, by Boiler Horsepower

10 Industrial Boilers Market, by End-Use Industry

11 Regional Analysis

12 Competitive Landscape

13 Company Profiles

14 Appendix

Companies Mentioned

Alfa Laval Ab

Andritz Ag

Babcock & Wilcox Enterprises, Inc.

Bharat Heavy Electricals Limited

Bryan Steam, LLC

Byworth Boilers Ltd.

Cleaver-Brooks, Inc.

Cochran Ltd.

Dongfang Electric Corporation Limited

Forbes Marshall Private Limited

Harbin Electric Company Limited

Hurst Boiler & Welding Company, Inc.

Ihi Corporation

John Wood plc

Johnston Boiler Company

Mitsubishi Power

Parker Boiler Company

Rentech Boiler Systems, Inc.

Robert Bosch Gmbh

Siemens Ag

Sofinter Group

Superior Boiler Works, Inc.

The Fulton Companies

Thermax Limited

Vapor Power International, LLC

For more information about this report visit https://www.researchandmarkets.com/r/eqbv9k

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Global Market

ResearchAndMarkets.com's In terms of value,water-tube accounts for the fastest-growing segment in industrial boilers market, by boiler type, during the forecast period. In terms of value, coal is estimated to be account for sluggish growing segment in industrial boilers market, by fuel type, during the forecast period. In terms of value, 10-150 BHP is estimated to be third fastest-growing segment in industrial boilers market, by boiler horsepower type, during the forecast period. In terms of value, hot-water is estimated to fastest growing segment in industrial boilers market, by function type, during the forecast period. In terms of value, paper & pulp is estimated to be third fastest-growing segment in industrial boilers market, by end use, during the forecast period. North America region accounted for the third-fastest growing segment in the industrial boilers market by value. Research Coverage: Market Dynamics Key Attributes: Report Attribute Details Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industrial Boilers Market, by Fuel Type 7 Industrial Boilers Market, by Boiler Type 8 Industrial Boilers Market, by Function 9 Industrial Boilers Market, by Boiler Horsepower 10 Industrial Boilers Market, by End-Use Industry 11 Regional Analysis 12 Competitive Landscape 13 Company Profiles 14 Appendix Companies Mentioned About ResearchAndMarkets.com Attachment