Industrial Electric Boiler Market - By Voltage Rating (Low Voltage, Medium Voltage), By Capacity (< 10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, >250 MMBtu/hr), By Application (Food & Beverages, Paper, Chemical, Refinery), & Forecast, 2024 – 2032

Industrial Electric Boiler Market Size

Industrial Electric Boiler Market size valued at USD 255.7 million in 2023 and is estimated to exhibit over 17% CAGR between 2024 and 2032. The increasing emphasis on sustainability, energy efficiency, and carbon reduction will drive the demand for these units.

Furthermore, technological advancements in electric boiler technology have improved their efficiency, reliability, and overall performance, further boosting their adoption. The industry has experienced significant growth owing to government mandates and emission regulations aimed at reducing greenhouse gas emissions. Industries, which are among the highest emitters of GHGs, are adopting these boilers to reduce their carbon footprint, augmenting the business growth.

COVID– 19 Impact

The world economy has been significantly impacted by an unanticipated outbreak of the COVID-19. The pandemic has resulted into significant decline in the overall capital expenditure across upgradation & expansion of the industries. Moreover, respective government policies to restart the operations across major industries, and manufacturing facilities has complemented the business outlook.  

Industrial Electric Boiler Market Analysis

Based on the application, the food & beverage segment of the industrial electric boiler market is expected to witness 14.3% growth rate through 2032. Shifting dietary habits toward high value-added foods including meat and chocolate coupled with changing consumer lifestyle trend will foster the business outlook. The growing demand for processed food is set drive the capacity expansion of food processing units, which in turn will fuel the product penetration.

Chemical application is projected to grow on account of growing demand for chemicals across various consumer product industries & metal processing industries. The government mandates aimed at limiting industrial pollution has resulted into an increase in the replacement of traditional heating systems, stimulating the business growth. Similarly, transition of energy systems from fossil fuels to decarbonized alternatives along with surging deployment of clean energy technologies will positively impact the industrial electric boiler market growth.

Based on the voltage rating, the low voltage segment dominated approximately 65% of the market share in 2022. This growth can be attributed to governmental regulations aimed at decreasing greenhouse gas emissions (GHG) and the widespread acceptance of heating systems with low emissions. Additionally, increasing investments in manufacturing facilities and the replacement of traditional boilers with energy-efficient ones are also contributing to the growth of the industry.

Based on the 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 capacity electric boiler market is set to surpass USD 160 million by 2032.  The developed nations with strict regulations aimed at reducing dependence on fossil fuels will offer significant business opportunities. The cost competitiveness of these boilers when compared to its counterparts make them a preferrable option. The product offers key benefits including quiet operation, ease of installation, fast start up & shut down time and more safety, accelerating the industry potential.

50-100 MMBtu/hr capacity industrial electric boiler market will observe an appreciable momentum owing to government mandates, incentives, and subsidies for the adoption of low-carbon technologies. Increasing applicability of these units across chemical and food processing units will positively sway the business growth. Robust deployment of energy-efficient technologies consuming less fuel and delivering high energy will escalate the business landscape.

Europe boiler market is anticipated to register gains at nearly 13.8% up to 2032. Implementation of carbon emissions norms and the increasing replacement of traditional heating systems will favor the industry scenario. The member nations of the EU are committed to achieving climate neutrality by 2050, which requires a significant reduction in dependence on fossil fuels. As a result, industrialists are increasingly turning to electric or gas-based central heating systems during the winter season. In addition, paradigm shift toward sustainable heating technologies along with robust industrial sector growth will augment the business landscape.

North America industrial electric boiler market will witness an upsurge on account of strict emission regulations and increased investments toward infrastructure developments. The involvement of private players and federal & state governments in developing and expanding industrial facilities has created a favorable business environment. Furthermore, the resurgence of the construction sector and the ongoing infrastructural expansion have led to an increase in demand for electric boilers in the region. The rising demand for heating in medium and large-scale industries will continue to support the growth.

Industrial Electric Boiler Market Share

The major companies are focusing on marketing strategies, technological advancements, brand recognition and economies of scale to meet the competition prevailing in the industry. Leading companies in the industrial electric boiler market include:

• FERROLI S.p.A
• The Fulton Companies
• Cleaver-Brooks
• Cochrane Engineering
• Thermona, spol. s.r.o.
• Cerney, S.A.
• Thermon
• Babcock Wanson
• Danstoker A/S
• Värmebaronen
• Ecotherm Austria GmbH
• PARAT Halvorsen AS
• Acme Engineering Products Ltd.
• Thermodyne Boilers
• Slant/Fin Corporation
• ACV
• LACAZE ENERGIES
• Precision Boilers
• KOSPEL
• Klöpper-Therm GmbH & Co. KG
• Vattenfall AB

Industrial Electric Boiler Industry News

In June 2022, PARAT Halvorsen announced the delivery of high-quality HV electrode steam boilers with 10 MW capacity to GE Healthcare in Lindesnes, Norway. The system has various features including 13 barg design pressure, 195°C design temperature, and 22kV connection. Moreover, the supply also included feedwater pump, blowdown tank, and circulation pump along with its operation of installation, start-up, piping, and training from the third quarter of 2022.

• In March 2022, The Fulton Companies introduced the hydronic boilers, Endura boilers, the latest addition to the company’s diversified product spectrum of heating solutions. In addition, Endura is a designed vertical fire-tube boiler with compact footprints of the sizes 2,000,000 Btu/hr. (EDR-2000) and 1,500,000 BTU/hr. (EDR-1500). The high-quality boiler is made of duplex stainless steel with three-pass heat exchanger in line, enhanced fireside surfaces, and 120V of single-phase power supply. Endura caters to its customers with premium solutions of performance, product design, and flexibility in applications.
   

This industrial electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032 for the following segments:

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By Voltage Rating

• Low Voltage
• Medium Voltage

By Capacity

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

By Application

• Food & Beverages
• Paper
• Chemical
• Refinery
• Others

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

• 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 Korea
• Latin America
  • Brazil
  • Argentina
  • Colombia
  • Chile