Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Industrial Boilers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Boilers Market to Reach $25.8 Billion by 2030
The global market for Industrial Boilers estimated at US$18.4 Billion in the year 2023, is projected to reach a revised size of US$25.8 Billion by 2030, growing at a CAGR of 5% over the analysis period 2023-2030.
The industrial boiler market is characterized by reliable, efficient systems providing a wide range of performance possibilities. Major trends include the growing prominence of smart boilers, which offer reduced emissions, decreased maintenance costs, and improved reliability, driving healthy market growth. Recent market activities show an increasing adoption of advanced technologies, with the global market outlook remaining positive as economic conditions improve.
Fire-Tube Boilers, one of the segments analyzed in the report, is expected to record 5.5% CAGR and reach US$16.1 Billion by the end of the analysis period. Growth in the Water-Tube Boilers segment is estimated at 4.1% CAGR for the next 7-year period.
Key competitors' market shares are expected to be outlined by 2024, reflecting the competitive landscape. The development of novel smart technologies to monitor boiler water levels and achieve efficiency in fruit and vegetable processing plants highlights the industry's focus on innovation. Sustainability and energy efficiency initiatives are driving boiler replacement projects worldwide, with many opting to retrofit existing boilers with advanced components to enhance performance and meet environmental standards.
The U.S. Market is Estimated at $5.5 Billion, While China is Forecast to Grow at 4.7% CAGR
The Industrial Boilers market in the U.S. is estimated at US$5.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2030 trailing a CAGR of 4.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $18.4 Billion |
| Forecasted Market Value (USD) by 2030 | $25.8 Billion |
| Compound Annual Growth Rate | 5.0% |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Industrial Boilers: Reliable, Efficient, and Providing an Incredible Level of Performance Possibilities
- Major Industrial Boiler Trends Summarized
- Recent Market Activity
- Global Market Outlook
- While Fiscal Cliff Concerns Recede to Background, Improving Economy Bodes Well for Market Adoption
- Industrial Boilers - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Prominence of Smart Boilers with Reduced Emissions, Decreased Maintenance Costs, and Improved Reliability Drives Healthy Market Growth
- Novel Smart Technology to Monitor Boiler Water Level
- Smart Way to Achieve Boiler Efficiency in Fruit/Vegetable Processing Plants
- Focus on Sustainability and Energy Efficiency Drive Boiler Replacement Initiatives across the World
- Retrofitting Existing Boilers with Advanced Components
- Migrating towards Liquid Wood
- Limiting NOx Emissions
- Using Fully Metered or Parallel Positioning Systems
- O2 Trim System and Variable Frequency Fan Drive (VFD)
- Benefits of Fully Metered or Parallel Positioning Systems
- Improving Iron and Steel Production Drives Demand for Industrial Boilers
- Growing Construction Activity Worldwide Boost Prospects for Boilers in Building Materials Production
- Stability in Global Manufacturing PMI Signals Growth Opportunities
- Safety Attribute of Water Tube Boilers Drive Higher Adoption than Conventional Fire Tube Boilers
- Increasing Global Investments on Oil & Gas Infrastructure Provides the Perfect Platform for Market Expansion
- Superior Attributes of Circulating Fluidized Bed (CFB) Boilers over Pulverized Coal (PC) Technology Drive Demand
- Benefits of CFB Boiler Technology
- CFB Technology's Place in the Global Renewables Landscape
- CFB Option Provides Optimal Value
- Asia-Pacific: The CFB Boiler Market with the Highest Growth Potential
- Spearheaded by China, Waste Heat Boilers Make a Strong Comeback
- Energy Efficiency Remain Major Cost Driver for Industrial Boilers
- Fuel Diversification Trend to Strongly Influence Industrial Boiler Market
- Developing Countries: Primary Drivers of Growth
- Migration from Coal to Natural Gas Fuel Presents Numerous Challenges
- Multi-Fuel Boilers Become a Necessity for Optimizing Power Consumption
- Multi-fuel Operation Poses Challenges for Boiler Operators
- Heating Equipment in Key High Growth
- Application Industries
- Chemical Industry
- Food Industry
- Breweries & Distilleries
- Paper & Pulp Industry
- Laundries
- Sewer Pipe Rehabilitation
- Pharmaceuticals
- Fertilizers
- Textiles
- Technology Advancements Enhance Boiler Energy Efficiency
- Condens 7000 F: Innovative Simplification of Commercial Boiler Installations
- New Innovative Boilers with On-Demand Technology and QSX Program
- Innovative Digital Efficiency Assistant for Steam Boilers
- New Boiler Technologies from Bosch
- Connectivity and Control
FOCUS ON SELECT PLAYERS
- Babcock & Wilcox Enterprises, Inc. (USA)
- Bharat Heavy Electricals Limited (BHEL) (India)
- Bosch Industriekessel GmbH (Germany)
- Cannon Far East (China)
- China Western Power Industrial Co., Ltd. (China)
- Clayton Industries, Inc. (USA)
- Doosan Power Systems Holdings Limited (UK)
- GE Power (USA)
- Wuhan Boiler Co., Ltd. (China)
- Grundfos A/S (Denmark)
- Hangzhou Boiler Group Co., Ltd. (China)
- Harbin Boiler Company Limited (China)
- IHI Corporation (Japan)
- Kawasaki Heavy Industries, Ltd. (Japan)
- LOINTEK (Spain)
- Mitsubishi Hitachi Power Systems, Ltd. (MHPS) (Japan)
- Miura Co., Ltd. (Japan)
- Shanghai Electric Group Company Limited (China)
- Sichuan Dongfang Boiler Group Co., Ltd. (China)
- Sumitomo SHI FW (Japan)
- Taishan Group Taian Boao International Trade Co., Ltd. (China)
- Takuma Co., Ltd. (Japan)
- Thermax Limited (India)
- Danstoker A/S (Denmark)
- Valmet Oyj (Finland)
- Victory Energy Operations LLC (USA)
For more information about this report visit https://www.researchandmarkets.com/r/1akisd
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