Due to the new technological advancement, industrial boilers are gaining more attention from consumers. The new boilers offer improved customer efficiency levels and new technologies for heat generation, such as waste heat recovery, biomass, and others. The industrial boiler has great adoption in the manufacturing businesses, food processing industries, and others.
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Global industrial boilers market is expected to reach USD 22,564.94 million by 2027 from USD 14,593.37 million in 2019 growing with the CAGR of 5.7% in the forecast period of 2020 to 2027. The major factors driving the market's growth are increasing demand for low emission industrial boilers and growing demand for advanced boiler solution from industrial verticals. In contrast, the high investment cost acts as a major restraint for the global industrial boilers market.
Growing concern for the environmentally friendly solution across the world will drive the market's growth rate
Market players are introducing new low-emission boilers and developing advanced boilers for more efficient and clean energy operations. Such advancement in boiler technology and increasing pollution standards for businesses supports the increased demand for low emission boilers. The requirement and growing concerns for environmentally friendly industrial boiler products augment market growth.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2012 - 2017)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Software Components, Hardware Components and Standalone Platform), Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing, and Reporting), Technology (2D Barcodes, Radiofrequency Identification (RFID), and Linear/1D barcodes), End User (Pharmaceutical and Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Food and Beverage, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies, and Others), Distribution Channel (Direct Sales and Third Party Distributors)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Market Players Covered
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Babcock & Wilcox Enterprises, Inc. (U.S.), John Wood Group PLC. (U.K.), Bharat Heavy Electricals Limited (India), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany), ALFA LAVAL (Sweden), General Electric (U.S.), Hurst Boiler & Welding Co, Inc. (U.S.), Bryan Steam (U.S.), Superior Boiler Works, Inc. (U.S.), Vapor Power (U.S.), Sofinter S.p.a (Italy), AB&CO GROUP (India), Suzhou Hailu Heavy Industry Co. Ltd (China), Cleaver-Brooks, Inc. (U.S.), ZOZEN boiler Co., Ltd. (China) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
Global industrial boilers market is segmented into eleven notable segments which are based on the basis of tubing methods, steam pressure, steam usage, furnace position, shell axis, tubes in boilers, water and steam circulation in boilers, fuel type, product type, boiler horsepower and industry.
The condensing hot water boiler segment will dominate the product type segment of the industrial boilers market
The condensing hot water boiler segment will emerge as the dominating segment under product type with approximately 30.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors industry all around the globe will further bolster the growth of this segment.
The food industry segment will dominate the industry segment of the industrial boilers market
The food industry segment will emerge as the dominating segment industry segment. This is because of the growing number of food outlets in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in industrial boilers market: Babcock & Wilcox Enterprises, Inc. (U.S.), John Wood Group PLC. (U.K.), Bharat Heavy Electricals Limited (India), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany), ALFA LAVAL (Sweden), General Electric (U.S.), Hurst Boiler & Welding Co, Inc. (U.S.), Bryan Steam (U.S.).
Market Development
Regional Analysis
Geographically, the countries covered in the track and trace solutions market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
Europe is the dominant region in industrial boilers market during the forecast period 2020 - 2027
Europe dominates the industrial boilers market due to the swift industrialization. Furthermore, the rise in the stringent guidelines by the government regarding the harmful emissions in the environment will further boos the growth of the industrial boilers market in the region during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in industrial boilers market the forecast period 2020 - 2027
Asia-Pacific is projected to observe a significant amount of growth of the industrial boilers market due to the rise in industrialization. Moreover, the upsurge in demand for environmentally friendly and biodegradable packaging products is further anticipated to propel the growth of the industrial boilers market in the region in the coming years.
COVID-19 Impact
The COVID-19 pandemic has had a minor impact on the industrial boiler industry due to a significant delay in production facilities. The suspension of industrial operations impacted the total demand for boilers. However, the industry scenario will be aided by the easing of constraints and the advancement of R&D policies for the facilitation of sophisticated designs. Additionally, government initiatives for a green heating system combined with ongoing infrastructure development would boost market demand.
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Global Industrial Boilers Market – Industry Trends and Forecast to 2028
North America Industrial Boilers Market – Industry Trends and Forecast to 2029
Europe Industrial Boilers Market - Industry Trends and Forecast to 2027
Middle East and Africa Industrial Boilers Market – Industry Trends and Forecast to 2029
Asia-Pacific Industrial Boilers Market – Industry Trends and Forecast to 2029