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Industrial Electric Boiler Market Size By Voltage Rating (Low Voltage, Medium Voltage), By Capacity (>250 MMBtu/hr, 100-250 MMBtu/hr, 50-100 MMBtu/hr, 10-50 MMBtu/hr, < 10 MMBtu/hr), By Application (Food & Beverage, Paper, Chemical, Refinery), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5301
  • Published Date: Aug 2022
  • Report Format: PDF

Industry Drivers

Industrial Electric Boiler Market size valued at USD 202.8 million in 2021 and is expected to expand at over 14.8% CAGR from 2022 to 2030. Prevalent efforts to curb carbon emissions will foster the industry growth.
 

Industrial Electric Boiler Market

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Mounting demand for efficient space & water heating, along with robust development of green buildings will augment the demand for industrial electric boilers. These products provide various advantages, such as improved reliability and low installation time & costs, which will create sizable growth potential.
 

Governments across varied regions have been introducing rigorous regulations as well as emission norms, which will accelerate product adoption. Moreover, favorable policies and funding schemes will propel the electric industrial boiler industry outlook. Furthermore, companies have been focusing on research and development to advance their product functionality and efficiency, along with strategic mergers, which will stimulate market penetration.
 

High electricity costs may restrain industry progression

Escalating electricity costs are a major factor restraining the industrial electric boiler market growth. A substantial amount of electricity is used to maintain and power industrial electric boilers, which may slow down sales. Nonetheless, manufacturers have been investing highly in producing energy-efficient and environment-friendly boilers, which will benefit the business scenario.
 

Legislative norms to push low voltage industrial electric boiler demand

The low voltage segment held more than 60% of the market share in 2021. The demand for low voltage boilers will increase considerably through 2030 on account of legislative mandates focused on reducing greenhouse gas emissions (GHG), coupled with the widespread adoption of low emission heating systems.
 

Industrial electric boiler with a capacity of < 10 MMBtu/hr to gain traction

Industrial Electric Boiler Market Share, By Capacity

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With respect to capacity, the industrial electric boiler market is classified into <10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, and >250 MMBtu/hr. The <10 MMBtu/hr segment crossed more than USD 50 million revenue in 2021. Reduced energy costs, increased comfort, and low operational costs are some pivotal features that will accelerate the deployment of these units. Additionally, ongoing government mandates to limit carbon emissions will drive the segment growth.
 

Changing consumer diets to accelerate the industry statistics from food & beverage application

The food & beverage segment is estimated to progress at a rate of around 15.1% through 2030. Notable shifts in dietary habits toward high value-added foods, such as chocolates and meat, and changing consumer lifestyle trends have created a positive industry scenario. Moreover, substantial industrialization primarily across developing nations, coupled with the introduction of strict emission norms, will positively impact the market statistics.
 

Increasing consumer awareness to help Europe emerge as a prominent revenue pocket

Europe Industrial Electric Boiler Market Size, By Country

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The Europe industrial electric boiler market size is predicted to capture above 40% of the revenue share by 2030. Rising consumer awareness and environmental constraints will encourage the installation of efficient & reliable heating units, thereby fueling regional market development. Another region that may emerge as a key revenue hub is North America. The participation of private players as well as federal and state governments in the development and expansion of industrial facilities will proliferate the demand.
 

Constant research & development to strengthen the industry outlook

FERROLI, The Fulton Companies, Cleaver-Brooks, Cochrane Engineering, Thermona, Cerney, Thermon, Babcock Wanson, Danstoker, Värmebaronen, Ecotherm Austria, PARAT Halvorsen, Acme Engineering Products, Thermodyne Boilers, Slant/Fin Corporation, ACV, LACAZE ENERGIES, Precision Boilers, KOSPEL, Klöpper-Therm GmbH, and Vattenfall are key industrial electric boiler market players.
 

Major power-consuming nations are opting for energy-efficient alternatives to avoid the adverse impacts of emissions. Besides, favorable norms & initiatives to promote the use of energy-efficient products will benefit companies.
 

For instance, in July 2021, Cleaver-Brooks launched a sustainability initiative plan to support its environmental issues. The company also assessed its boiler products & services to achieve its targets. Its solutions were designed to limit its carbon footprint and enhance the plant energy efficiency, transitioning from fossil fuels to renewable energy sources, and achieve ultra-low to zero CO and NOx emissions.
 

Impact of COVID-19 on the industrial electric boiler market trends

The COVID-19 pandemic negatively impacted industry growth as a result of stringent lockdowns, halted business operations, and labor shortages. However, increasing awareness of renewable sources of energy has created massive growth potential for the development of greener solutions, which has been profitable for the product landscape.
 

This market research report on industrial electric boiler includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2018 to 2030, for the following segments:

Market, By Voltage Rating

  • Low Voltage
  • Medium Voltage

Market, By Capacity

  • < 10 MMBtu/hr
  • 10 – 50 MMBtu/hr
  • 50 – 100 MMBtu/hr
  • 100 – 250 MMBtu/hr
  • > 250 MMBtu/hr

Market, By Application

  • Food & Beverage
  • Paper
  • Chemical
  • Refinery
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Poland
    • Italy
    • Spain
    • Germany
    • Russia
    • Austria
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Philippines
  • Middle East & Africa
    • Saudi Arabia
    • Iran
    • UAE
    • Egypt
    • Nigeria
    • Kenya
    • Morocco
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Colombia
    • Chile

 

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of industrial electric boiler surpassed USD 200 million in 2021 and is set to progress at a CAGR of over 14.8% through 2030, says this GMI report.

The industrial electric boiler demand from the food & beverage application segment is set to grow at 15.1% gains up to 2030 owing to shifting consumer preference toward value-added food and changing lifestyles.

The low voltage segment held a market share of nearly 60% in 2021 owing to legislative mandates to mitigate greenhouse gas emissions (GHG) and prevalent adoption of low emission heating systems.

The Europe industrial electric boiler market is likely to account for more than 40% of the global industry revenue by 2030 driven by the growing urbanization rate and robust growth of the industrial sector.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 20
  • Tables & Figures: 925
  • Countries covered: 31
  • Pages: 530

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