Industrial Boilers Market Share Analysis Report, 2022-2030
The global industrial boilers market was valued at US$ 14.53 billion in 2021 and is expected to reach over US$ 23.5 billion by 2030, poised to grow at a noteworthy CAGR of 5.5% from 2021 to 2030.
Growth Factors:
The global industrial boilers market is driven by surging demand from the chemicals & petrochemical and the food & beverages industries. The rapid industrialization and the stringent government regulations pertaining to the harmful emissions are significantly driving the demand for the industrial boilers across the globe. The rising adoption of the industrial boilers across various industries such as chemical, food & beverages, and mining is expected to foster the market growth in the forthcoming years. The growing population and rising disposable income are encouraging the manufacturers to set up new manufacturing facilities in order to cater the demand for the food and beverages, textiles, and consumer goods. The rising investments in the growth of the industries across the globe are boosting the demand for the industrial boilers. The chemical industry has huge contributions in the global GDP, which highlights the importance of increasing demand for the industrial boilers in the chemicals industry. The growing demand in the chemical and petrochemical industry in the developing nations is expected to have a huge impact on the market growth in the foreseeable future.
The rising concerns regarding pollution, carbon emissions, and environment protection have forced the government to take strict actions regarding the industrial emissions. The stringent government norms pertaining to the harmful emissions to the environment are supporting the growth of the global industrial boilers market. Moreover, the rising investments in the thermal power owing to the rising demand for the efficient power supply are major factors that drive the growth of the industrial boilers market across the globe. The technological advancements and the rising focus of the manufacturers to increase the capacity of the boilers is supplementing the market growth. For instance, Bosch Industriekessel Gmbh provides water boilers that range up to 38 MW to the top food & beverage companies like Coca Cola, Nestle, and Daimler.
Scope of the Industrial Boilers Market
|
Report Coverage |
Details |
|
Market Size |
USD 23.5 Billion by 2030 |
|
Growth Rate |
CAGR of 5.5% from 2021 to 2030 |
|
Largest Market |
Europe |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2021 to 2030 |
|
Segments Covered |
Fuel, Type, Application, Region |
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Companies Mentioned |
AMEC Foster Wheeler PLC, Siemens AG, Thermax Limited, Harbin Electric Corporation, Bharat Heavy Electricals Limited, General Electric Company, Dongfang Electric Corporation Ltd., Babcock & Wilcox Enterprises, Inc., IHI Corporation, AC Boilers S.P.A |
Type Insights
Based on the type, the water tube segment dominated the global industrial boilers market in 2020. This is attributed the increased demand for the water tube boilers in the paper & pulp, chemical & petrochemical, and the food processing industries across the globe. The features like low carbon emissions along with the higher thermal efficiency are the major factor that has fostered the growth of the water tube boilers across industries. The growing investments on the adoption of large capacity boilers along with the replacement of conventional heating systems are further expected to propel the growth of this segment in the forthcoming future.
Application Insights
The chemical & petrochemicals segment garnered a market share of over 33% in 2020. The huge demand for the high quality steam that has utilization in the production of chemicals such as petrochemicals, alkali, chlorine, fertilizers, and pesticides has fueled the growth of this segment in the past years. The chemical industry has huge contributions in the GDP. The huge demand for huge variety of chemicals across all the industries has boosted its growth. The rising demand for the various chemical products is boosting the demand for the industrial boilers in the chemical industry across the globe. Hence, this segment is expected to sustain its significance throughout the forecast period.
Fuel Type Insights
Based on the fuel type, the oil & gas segment dominated the global industrial boilers market in 2020 with revenue share of 37%. This is attributed to the easy availability of the oil & gas across the North America and Europe. The rapid growth of the chemical and food and beverages industries in the Europe and North America has led to the growth of this segment.
Moreover, the rising industrialization and rapidly growing chemical and agricultural industries is further fueling the demand for the industrial boilers, which is expected to drive the growth of the oil & gas segment as oil & gas is the most prominently used fuel in the developing regions.
Regional Insights
Europe accounted for around 34% of the market share and dominated the global industrial oilers market in 2020. The presence of higher number of industries and manufacturing units across Europe has fostered its growth. The increased awareness regarding the carbon emissions, increased environment consciousness, and increased focus of the industries on achieving sustainability has compelled the government to implement strict regulations regarding the harmful industrial emissions. This has significantly boosted the growth of the industrial boilers market in Europe. Moreover, the higher adoption rate of advanced and innovative technologies to attain sustainability and energy efficiency across the manufacturing units in Europe, the demand for the industrial boilers has witnessed a surge in demand.
On the other hand, the Asia Pacific region is estimated to be the most opportunistic segment during the forecast period. The rapid industrialization owing to the constant government initiatives to attract FDIs is expected to propel the growth of the industrial boilers market. The availability of cheap factors of production and the favorable government policies is attracting the top manufacturers of various industries to expand their manufacturing facilities in Asia Pacific region. Thus, the demand for the industrial boilers is expected to foresee a huge growth across the Asia Pacific region especially in the countries like India and China. China and India are becoming the manufacturing hub of the world. Moreover, the presence of huge population is presenting lucrative growth opportunities to the food & beverages, consumer goods, textiles, and various other industries. This is a crucial factor that can be held responsible for the growth of the industrial boilers market in the Asia Pacific region in the forthcoming future.
Some of the prominent players in the Industrial Boilers Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Type
By Application
By Fuel Type
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Industrial Boilers Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Industrial Boilers Market
5.1. COVID-19 Landscape: Industrial Boilers Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Industrial Boilers Market, By Type
8.1. Industrial Boilers Market, by Type, 2021-2030
8.1.1. Fire Tube
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Water Tube
8.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Industrial Boilers Market, By Application
9.1. Industrial Boilers Market, by Application, 2021-2030
9.1.1. Paper & Pulp
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Food & Beverages
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Chemicals & Petrochemicals
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Metals & Mining
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Industrial Boilers Market, By Fuel Type
10.1. Industrial Boilers Market, by Fuel Type, 2021-2030
10.1.1. Oil & Gas
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Biomass
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Fossil
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. Non-Fossil
10.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Industrial Boilers Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Fuel Type (2019-2030)
Chapter 12. Company Profiles
12.1. AMEC Foster Wheeler PLC
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Siemens AG
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Thermax Limited
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Harbin Electric Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Bharat Heavy Electricals Limited
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. General Electric Company
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Dongfang Electric Corporation Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Babcock & Wilcox Enterprises, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. IHI Corporation
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. AC Boilers S.P.A
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers