Boiler Control Market size is projected to witness a significant upsurge over 2021-2027, owing to the increasing investment in the manufacturing sector in emerging economies such as India and the subsequent rise in adoption of energy-efficient control systems for HVAC and other applications. For example, in 2021, the Indian government approved a PLI scheme of $2.47 billion to manufacture advanced chemical cell batteries across the country.
Boiler controllers are control systems established to maintain and monitor variables such as steam pressure and temperature to control the burner or air mixture of boilers. These boiler control systems differ in terms of form factor, user interface, and functionality, which include totalizing, control, chart recording, and data logging.
Significant introduction of varied programs and policies to replace ageing powerplants, coupled with the mounting deployment of AI and other technologies to increase the performance of the HVAC systems are among the key trends characterizing the overall boiler control market outlook. Parker's Valve Service program, for instance, was introduced to replace and refurbish ageing water and fuel control valves on 7F and 7E turbines to increase their effectiveness.
In terms of segmentation by control type, the modulating control segment is expected to expand at a considerable pace over the foreseeable future, given its capability to produce control signal from 0%-100% to deliver the required output power to ensure the temperatures remain constant. Myriad other benefits of this boiler control type include high energy efficiency, low energy losses, optimal return temperature, and low pumping costs, which are likely to boost the adoption of boiler control devices.
Regionally, the Asia Pacific boiler control market is set to account for a remarkable share by 2027. This is attributable to the robust focus on optimizing energy consumption to curb the level of carbon emission, alongside the high spending across the power sector to rapidly generate and meet its escalating demand in emerging countries such as India and China. The power sector in India, for instance, is likely to attract investments of over $128.24-$135.37 billion during the FY2019-2023 period.
Key players operating in the boiler control market include Emerson Electric Co., Burnham Commercial, Honeywell, Spirax-Sarco Engineering, Weil-McLain (SPX Corporation), Cleaver-Brooks, Inc., Yokogwa Electric Corporation, Schneider Electric, ABB Ltd., HBX Control Systems Inc., and Siemens AG, among others. These market participants are incorporating new product launches, M&A, and other strategies to gain a competitive advantage and expand their stance in the global market.
For example, in June 2021, Siemens Energy inked a cooperation agreement with Heat Management, in order to develop HISS (High Impact Sootblowing System), an optimized steam turbine and sootblowing- control solution, designed to facilitate improved energy efficiency in black liquor boilers in pulp mills.
The coronavirus outbreak has put an immediate halt on several business activities worldwide, as various countries imposed movement restrictions and lockdowns, resulting in wide-scale disturbances in manufacturing activities. Declining industrial operations and disruptions in supply chains have impacted the overall economy, which in turn, have created challenges to the adoption of the boiler control systems worldwide. Hero MotoCorp, for instance, extended the closure of its automotive manufacturing facilities in view of the prevailing coronavirus crisis in India.
However, gradual ease of lockdown and other restrictions as well as the rapid rise in power demand across numerous countries such as India will help the boiler control industry regain some momentum over the coming years. In India, for instance, electricity consumption surged by 9.3% during the 1st half of June 2021 to 55.86 billion units, indicating a steady recovery in industrial and commercial power demand.