Global Industrial Boilers Market, By Tubing Methods (Fire Tube Boilers and Water Tube Boilers), Steam Pressure (High Pressure Boilers, Medium Pressure Boilers, and Low Pressure Boilers), Stream Usage (Process Boilers, Utility Boilers, and Marine Boilers), Furnace Position (Externally Fired Boilers, and Internally Fired Boilers), Shell Axis (Horizontal Boilers and Vertical Boilers), Tubes in Boilers (Multi-Tube Boilers and Single Boilers), Water and Steam Circulation in Boilers (Forced Circulation Boilers and Natural Circulation Boilers), Fuel Type (Coal-Fired Boilers, Oil Fired Boilers, Gas Fired Boilers, Biomass Boilers, and Others), Type 9Condensing Hot Water Boiler, Integrated Condensing Hot Water Boiler, Integrated Condensing Steam Boiler, Split Condensing Steam Boiler, Electric Heated Steam Boiler, Electric Hot Water Boilers, and Others), Boiler Horsepower (10 - 150 BHP, 151 - 300 BHP, 301 - 600 BHP, and Above 600 BHP), Industry (Food Industry, Breweries, Laundries And Cleaning Firm, Construction, Pharmaceutical, Automotive, Pulp And Paper, Hospitals, Refinery, Power Generation, Agriculture, Packaging, Chemicals and Petrochemicals, Metal and Mining, and Others) – Industry Trends and Forecast to 2031.
Industrial Boilers Market Analysis and Size
The industrial boilers market includes variations in boiler designs based on tubes, such as multi-tube boilers and single tube boilers. Multi-tube boilers feature multiple tubes for enhanced heat exchange, while single tube boilers have a singular tube design. These distinctions cater to diverse industrial applications, providing flexibility in meeting specific operational requirements.
Data Bridge Market Research analyses that the global industrial boilers market valued at USD 16,168.88 million in 2023, will reach USD 20,964.40 billion by 2031, growing at a CAGR of 3.3% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Industrial Boilers Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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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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Tubing Methods (Fire Tube Boilers and Water Tube Boilers), Steam Pressure (High Pressure Boilers, Medium Pressure Boilers, and Low Pressure Boilers), Stream Usage (Process Boilers, Utility Boilers, and Marine Boilers), Furnace Position (Externally Fired Boilers, and Internally Fired Boilers), Shell Axis (Horizontal Boilers and Vertical Boilers), Tubes in Boilers (Multi-Tube Boilers and Single Boilers), Water and Steam Circulation in Boilers (Forced Circulation Boilers and Natural Circulation Boilers), Fuel Type (Coal-Fired Boilers, Oil Fired Boilers, Gas Fired Boilers, Biomass Boilers, and Others), Type 9Condensing Hot Water Boiler (Integrated Condensing Hot Water Boiler, Integrated Condensing Steam Boiler, Split Condensing Steam Boiler, Electric Heated Steam Boiler, Electric Hot Water Boilers, and Others), Boiler Horsepower (10 - 150 BHP, 151 - 300 BHP, 301 - 600 BHP, and Above 600 BHP), Industry (Food Industry, Breweries, Laundries And Cleaning Firm, Construction, Pharmaceutical, Automotive, Pulp And Paper, Hospitals, Refinery, Power Generation, Agriculture, Packaging, Chemicals and Petrochemicals, Metal and Mining, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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RSA Security LLC (U.S.), Genpact (U.S.), MetricStream (U.S.), KPMG Česká republika, s.r.o. (Netherlands), BitSight Technologies, Inc. (U.S.), Ernst & Young Global Limited (U.K.), PwC (U.K.), ProcessUnity, Inc. (U.S.), Venminder, Inc. (U.S.), Resolver Inc. (Canada), NAVEX Global, Inc. (U.S.), Riskpro (India), SAI Global Pty Limited (U.S.), Rapid Ratings International Inc. (U.S.), Optiv Security Inc. (U.S.), Aravo Solutions, Inc. (U.S.), OneTrust, LLC. (U.S.), Prevalent, Inc. (U.S.)
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Market Opportunities
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Market Definition
Industrial boilers are closed vessels that generate steam or hot water for various industrial processes by harnessing the heat produced through combustion of fuel. These devices play a crucial role in providing thermal energy for heating, powering machinery, and facilitating diverse industrial operations.
Global Industrial Boilers Market Dynamics
Drivers
- Global demand for cost-effective heat generation
The pursuit of cost-effective heat generation drives the global industrial boilers market expansion. Industries seek reliable solutions that offer efficient heat production at economical rates. This quest is crucial as businesses aim to optimize operational costs and enhance competitiveness. The demand for affordable yet dependable heat sources propels the adoption of advanced and cost-efficient technologies, contributing to the growth of the industrial boilers market globally.
- Stringent environmental regulations drives market
Rigorous environmental regulations are a catalyst for embracing cleaner and compliant boiler technologies worldwide. The imperative to reduce carbon emissions and environmental impact compels industries to adopt sustainable practices. Stringent standards prompt the integration of advanced, eco-friendly boiler systems, ensuring adherence to environmental norms. This pursuit aligns with global commitments to address climate change and fosters a shift towards cleaner, more responsible industrial processes for enhanced environmental stewardship.
Opportunities
- Collaborative strategies fuelling market advancements
Strategic collaborations between technology providers and industrial sectors offer a platform for mutual progress. These ventures foster innovation by combining technological expertise with industry insights, leading to the development of advanced solutions in the industrial boilers sector. Partnerships enable the exchange of knowledge, resources, and capabilities, resulting in the creation of more efficient, sustainable, and tailored boiler technologies. Such collaborations drive synergies, accelerate research and development, and contribute to the overall evolution of industrial boiler systems.
- Technological investments transforming industrial boilers
Investments in technological advancements pave the way for heightened efficiency and performance in industrial boilers. Innovations, such as advanced control systems, predictive maintenance, and materials engineering, contribute to optimized operations. These technologies enhance energy efficiency, reduce emissions, and improve overall reliability. As industries prioritize modernization, the integration of innovative solutions not only meets evolving demands but also establishes a foundation for sustainable and cutting-edge industrial boiler systems.
Restraints/Challenges
- Limited awareness among people
Limited awareness regarding the advantages of modern boiler technologies impedes widespread adoption in certain regions. This challenge hampers market growth by restricting the potential customer base. Without a clear understanding of the benefits, industries may hesitate to invest in advanced boiler systems, hindering the overall market expansion.
- High initial costs hinders the market
High initial costs pose a significant restraint, especially for smaller enterprises, limiting their ability to invest in advanced boiler systems. This financial barrier constrains market growth by impeding the adoption of innovative technologies. Smaller businesses may opt for conventional, less expensive alternatives, slowing down the market transition towards more efficient and sustainable industrial boiler solutions.
This global industrial boilers market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global industrial boilers market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In December 2022, Bharat Heavy Electricals (BHEL) entered a Technology Licence Agreement with Sumitomo SHI FW of Finland to produce supercritical and subcritical Circulating Fluidized Bed Combustion (CFBC) boilers. This collaboration enables BHEL to engineer and sell CFBC boilers domestically and internationally, leveraging CFBC technology's advantages, including fuel flexibility, reduced emissions, and bio-mass co-firing capability
- In November 2022, Babcock & Wilcox secured a contract exceeding USD 24 million to provide advanced control technologies, two industrial package boilers, and auxiliary equipment for a petrochemical processing plant in North America. This agreement reflects B&W's expertise in delivering comprehensive solutions to enhance efficiency and reliability in industrial processes
- In August 2022, Thermax, a leader in energy and environmental solutions, introduced a pioneering multi-fuel boiler solution. Designed for industrial users transitioning from traditional to green energy, this innovative system offers flexibility by allowing seamless switching between different fuel inputs. This advancement aligns with the growing emphasis on sustainable and versatile energy solutions
- In August 2022, Thermax Babcock & Wilcox Energy Solutions introduced FlexiSource, a versatile multi-waste solution. This innovative system addresses challenges related to fuel availability arising from geopolitical changes, fluctuating prices, and environmental concerns. FlexiSource provides adaptability, ensuring reliable energy input for industries navigating dynamic global conditions and evolving environmental considerations
- In March 2021, Siemens AG launched the SICONTOP, a novel control system for industrial boilers. This innovation has proven instrumental in enhancing operational efficiency, contributing to Siemens AG's increased revenue in the industrial boilers market. The SICONTOP system addresses industry needs, positioning the company for growth and market leadership
Global Industrial Boilers Market Scope
The global industrial boilers market, is segmented on the basis of tubing methods, steam pressure, stream usage, furnace position, shell axis, tubes in boilers, water and steam circulation in boilers, fuel type, product type, boiler horsepower, and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Tubing Methods
- Fire Tube Boilers
- Water Tube Boilers
Steam Pressure
- High Pressure Boilers
- Medium Pressure Boilers
- Low Pressure Boilers
Stream Usage
- Process Boilers
- Utility Boilers
- Marine Boilers
Furnace Position
- Externally Fired Boilers
- Internally Fired Boilers
Shell Axis
- Horizontal Boilers
- Vertical Boilers
Tubes in Boilers
- Multi-Tube Boilers
- Single Boilers
Water and Steam Circulation in Boilers
- Forced Circulation Boilers
- Natural Circulation Boilers
Fuel Type
- Coal-Fired Boilers
- Oil Fired Boilers
- Gas Fired Boilers
- Biomass Boilers
- Others
Product Type
- Condensing Hot Water Boiler
- Integrated Condensing Hot Water Boiler
- Integrated Condensing Steam Boiler
- Split Condensing Steam Boiler
- Electric Heated Steam Boiler
- Electric Hot Water Boilers
- Others
Boiler Horsepower
- 10 - 150 BHP
- 151 - 300 BHP
- 301 - 600 BHP
- Above 600 BHP
Industry
- Food Industry
- Breweries
- Laundries And Cleaning Firm
- Construction
- Pharmaceutical
- Automotive
- Pulp And Paper
- Hospitals
- Refinery
- Power Generation
- Agriculture
- Packaging
- Chemicals and Petrochemicals
- Metal and Mining
- Others
Global Industrial Boilers Market Regional Analysis/Insights
The global industrial boilers market is analysed and market size insights and trends are provided by tubing methods, steam pressure, stream usage, furnace position, shell axis, tubes in boilers, water and steam circulation in boilers, fuel type, product type, boiler horsepower, and industry as referenced above.
The countries covered in the global industrial boilers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia Pacific dominates the industrial boilers market, fuelled by a growing population, increasing internet usage, and rapid industrialization. The region's demand for efficient communication networks aligns with the capabilities of industrial boilers, especially those incorporating photonic integrated circuits (PICs), making it a dominant force in the global market.
North America is expected to dominate the industrial boilers market, driven by a robust automotive infrastructure and the substantial presence of key industry players. The region benefits from a well-established foundation of manufacturing facilities, fostering a high demand for industrial boilers and solidifying its position as a dominant force in the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Industrial Boilers Market Share Analysis
The global industrial boilers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global industrial boilers market.
Some of the major players operating in the global industrial boilers market are:
- RSA Security LLC (U.S.)
- Genpact (U.S.)
- MetricStream (U.S.)
- KPMG Česká republika, s.r.o. (Netherlands)
- BitSight Technologies, Inc. (U.S.)
- Ernst & Young Global Limited (U.K.)
- PwC (U.K.)
- ProcessUnity, Inc. (U.S.)
- Venminder, Inc. (U.S.)
- Resolver Inc. (Canada)
- NAVEX Global, Inc. (U.S.)
- Riskpro (India)
- SAI Global Pty Limited (U.S.)
- Rapid Ratings International Inc. (U.S.)
- Optiv Security Inc. (U.S.)
- Aravo Solutions, Inc. (U.S.)
- OneTrust, LLC. (U.S.)
- Prevalent, Inc. (U.S.)
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