Global Industrial Boiler Market Size By Capacity (<10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr ), By Product (Fire-tube, Water-tube), By Technology (Condensing, Non-condensing), By Fuel (Natural Gas, Oil, Coal), By Application (Food, Paper, Chemical, Refinery, Primary Metals), Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Japan, South Korea, Australia, Indonesia, Philippines, Saudi Arabia, Iran, UAE, Egypt, Nigeria, Kenya, Morocco, South Africa, Brazil, Argentina, Columbia, Chile, Venezuela) , Competitive Market Analysis & Forecast, 2018 – 2024

Published Date: June 2018 | 600 Pages | Report ID: GMI622 Report Format: PDF

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Industry Trends

Industrial Boiler Market size, in 2017 was valued over USD 11 billion and is anticipated to exceed annual installation of 100 thousand units by 2024.
 

China Industrial Boiler Market size, By Application, 2017 & 2024 (USD Million)
China Industrial Boiler Market size, By Application, 2017 & 2024 (USD Million)

 

Rapid industrialization across emerging economies along with positive outlook toward chemical and food processing sector will drive the global market size. For instance, in 2017, the Government of Iran signed an agreement with TOTAL S.A for the construction of petrochemical units in the country. Rising investments toward the expansion and upgradation of existing industrial facilities will further support the industry growth.
 

Growing focus toward energy optimization in the developing economies along with installation of energy efficient steam generating systems will propel the industrial boiler market growth. Stringent regulatory norms coupled with shift toward automation will further complement the business landscape.
 

Industrial Boiler Market, By Capacity

<10 MMBtu/hr boilers, in 2017 accounted for over 15% of the global industrial boiler market share in terms of revenue. Positive outlook toward the expansion of medium scale industries along with expanding food processing sector will further strengthen the demand for these products. Robust industrial sector growth across developing countries including Indonesia, Poland and Philippines will further propel the business growth.
 

Ongoing investment toward the expansion and upgradation of refineries coupled with growing demand for primary metals will drive the 100-250 MMBtu/hr industrial boiler market. For instance, in July 2017, the Government of Nigeria issued license for 10 modular refineries with an objective to expand the country’s refining capacity.
 

Industrial Boiler Market, By Product

Fire-tube industrial boiler market is anticipated to grow over 3% by 2024. Compact design, low maintenance, simple installation, and operational suitability to meet variable steam demand are some of the underlying parameters which will thrust the product penetration across medium -scale industries.
 

Water-tube industrial boiler market will witness growth on account of positive outlook toward manufacturing sector including pulp & paper and refineries. The ability of these boilers to achieve high temperature and steam pressure will boost the deployment of these products across heavy industries.
 

Industrial Boiler Market, By Technology

Condensing industrial boilers will witness large scale adoption on account of. growing demand for energy efficient steam generating units across diverse range of industries. These systems tap latent heat generated from outgoing flue gases, thereby allowing considerably high thermal efficiency when compared to conventional heating units. In addition, legislative initiatives aimed at energy conservation and environmental sustainability will further favor the business scenario.
 

Industrial Boiler Market, By Fuel

Gas fired industrial boiler market is projected to surpass 30 thousand units by 2024. Regulatory measures toward minimizing carbon emissions along with the expansion of natural gas supply infrastructure across industrialized economies will boost the product demand. Under the 2015 COP23 conference, major economies announced their plans to reduce the impact of GHG emissions. For instance, Japan pledged 26% reduction in greenhouse gas emissions by 2030 when compared to 2013 levels.
 

Industrial Boiler Market, By Application

Chemical industrial boiler market is set to witness gains over 3% by 2024. Growing demand for bulk petrochemicals, organics and plastic resins has resulted in large investments across chemical sector which will boost the product demand. For instance, as of December 2016, the U.S. has announced 275 chemical production projects worth USD 170 billion.
 

Food processing, in 2017, accounted for over 8% of the global industrial boiler market share. Growing consumer inclination toward processed food along with expanding population base has resulted in increased investment toward the expansion of food processing units. For instance, in 2017, Snyder’s Lance announced investments exceeding USD 7 million for expansion of its Bakery facility. Ongoing government efforts toward ensuring food security will further compliment the business outlook.
 

Industrial Boiler Market, By Region

UK market is anticipated to witness growth owing to rising investment in food processing and chemical sector. Ongoing demand from overseas for manufactured products has further stimulated investments across these industries which in turn will support the business growth. For instance, Cadbury invested over USD 90 million toward the expansion of Bournville factory in 2017.
 

The U.S. industrial boiler market is set to surpass USD 1 billion by 2024. Ongoing investments toward refurbishment and upgradation of the existing units will foster the business growth. Positive outlook toward chemical sector on account of growing demand for specialty chemicals will further propel the product demand. For instance, in 2015, the FDI investment across chemical sector in the country exceeded USD 470 billion.
 

Japan industrial boiler market will witness growth on account of sizeable investments toward machinery manufacturing in the country. The industry expansion is further attributed to the escalating demand for processed food which is driven by aging population and rising per capita income.
 

Competitive Market Share

Key industry participants include General Electric, Cleaver-Brooks, Thermax, Fulton, Forbes Marshall, Bharat Heavy Electricals, Clayton, Mitsubishi Heavy Industries and Cochran. Other notable industry players include Rentech, Foster Wheeler, Hurst Boiler, Doosan Corporation Babcock and Wilcox, Parker Boilers and Saudi Boilers.
 

Industrial Boiler Industry Background
 

Industrial Boiler Market Segmentation

 

Boilers are predominantly utilized for hot water and steam generation across industries including, pulp and paper, food and beverage, refinery, primary metals, chemicals, and other manufacturing. Resurgent economic growth, development of new industrial centers coupled with shift toward optimization of manufacturing processes will fuel the industry expansion.

 


What Information does this report contain?

Historical data coverage: 2013 to 2017; Growth Projections: 2018 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


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