Wilmington, Delaware, United States, April 25, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – According to TMR, the global industrial boiler market will reach US$ 18 billion by 2031. Between 2023 and 2031, the global market is predicted to grow at a CAGR of 4.4%. Increasing investment in manufacturing facilities and rapid industrialization are driving global industrial boiler sales. The emergence of large industrial boilers and a thriving food processing industry both contribute to its growth.
Households and businesses around the globe rely on heating equipment for warm air and hot water, making boilers an important market. New technologies for boiler coating are being developed by renowned boiler manufacturers to produce faster and more energy-efficient boilers. Natural gas utilization is expected to further boost the growth of the industrial boilers market in the future. Upgrades & replacements of existing boilers are expected to increase demand.
Request for a Sample PDF Report with Latest Industry Insights: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75333
The Boiler Upgrade Scheme (BUS) was launched by the U.K. government. Property owners will be provided with a cost-effective alternative to fossil fuel-based heating systems through the program. In rural areas, Rural Boiler Support provides a GBP 5,000 discount on biomass boilers.
EPA regulations complying with Mercury and Air Toxics Standards have led to a significant reduction in coal power generation. Natural gas prices decline and renewable energy sources expand, leading to another 65 GW of coal-fired generating capacity being shut down.
Key Findings of the Market Report
- Global industrialization and growing demand for energy-efficient heating systems are driving demand for water tube boilers.
- Growth trajectories in the chemical and food processing industries are expected to drive demand.
- Green energy regulations will increase demand for industrial boilers.
- Growth in e-commerce sales will boost profitability for paper and pulp businesses.
- Increased investment in research and development to expand the market.
Global Industrial Boiler: Growth Drivers
- The food and beverage industry, mining, and metal extraction industries will contribute to the growth of the small boiler market in the next decade. The petroleum industry's increasing production capacity and demand for high-capacity steam boilers will continue to grow.
- Several factors have contributed to the sustained growth of the food processing sector over the past few years. The rise in living standards, the advancement of technology, and an increase in disposable income contribute to this trend.
- Industrial emissions have been strictly regulated by the government to reduce pollution and carbon emissions. Government regulations pertaining to pollution are driving the global industrial boilers market.
- The U.S. Environmental Protection Agency estimates that new boiler regulations will prevent significant environmental pollution. It is estimated that 12.0% of the equipment will have to be upgraded or replaced in order to minimize toxic emissions.
- Growth in foreign investments and innovation of products will further expand the market. As the focus shifts toward efficient heating systems and extensive replacements of conventional boilers, there will be a high demand for efficient heating systems.
Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=75333<ype=S
Global Industrial Boiler: Regional Landscape
- Europe's rapid industrialization dominates the market for industrial boilers.
- Installing power generation facilities in the Asia Pacific will boost demand for industrial boilers.
- A rise in green energy initiatives in developing regions such as India and China is expected to increase demand.
- Rising interest in chemical and petrochemical products in Japan, China, and India to boost demand.
- Foreign direct investment policies and the efforts to strengthen domestic industries and manufacturing will likely drive demand.
Global Industrial Boiler Market: Key Players
Prominent players are gaining market share by acquiring, merging, and forming alliances with each other in order to consolidate their position. A recent trend in the market suggests that it has entered a period of intense competition.
- In January 2023, Nomos Architects revitalizes an old coal-burning boiler station into an exhibition space and retail location in the central district of Xi'an, China. TanArt Community Center introduces a holistic vision for the city by incorporating a cultural hub into an industrial heritage site. The original tall boiler operation room has been converted into an art exhibition space whereas the other smaller rooms will be used as commercial spaces to accommodate events, fundraise, and plan.
- In February 2023, the MET Group's Dunamenti Power Plant plans to use surplus green energy to generate hot water for heating using an electrode boiler power-to-heat project. PARAT, a leader in steam and heat solutions in Norway, will provide the new electrode boiler.
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75333
Global Industrial Boiler Market: Segmentation
Product Type
- Fire Tube Boilers
- HRT Boiler
- Scotch Boiler
- Firebox Boiler
- Water Tube Boilers
- Stoker Fired Boiler
- PC Fired Boiler
- FBC Boiler
- Electric Boilers
Fuel Type
- Oil
- Coal
- Biomass
- Natural gas
- Others (MSW, TDF, etc.)
Capacity
- Upto 2,00,000
- 2,00,000 to 3,00,000
- Above 3,00,000
By End-user
- Food and Beverage
- Refining
- Metal
- Paper and Pulp
- Cement
- Textile
- Energy & Power
- Others (Pharmaceuticals, Mining, etc.)
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
