Industrial Electric Boiler Market Analysis

Industrial Electric Boiler Market Analysis

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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.