The industrial boilers market is witnessing significant technological advancements, resulting in various benefits. Modern industrial boilers incorporate innovations such as efficient heat recovery systems, digital controls, and low-emission burners, which enhance energy efficiency and reduce environmental impact. These advancements lead to cost savings, reduced carbon emissions, and improved industry operational reliability. Moreover, they allow companies to comply with stringent environmental regulations while ensuring a reliable and sustainable source of process heat and power in various industrial applications.
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Data Bridge Market Research analyses that the Asia-Pacific Industrial Boilers Market was valued at USD 5,617.75 million in 2021 and is expected to reach USD 10,392.50 million by 2029, registering a CAGR of 6.70% during the forecast period of 2022-2029. The maintenance and retrofitting of aging boiler systems are essential for extending their operational life and improving efficiency. This drives the demand for replacements and upgrades in the industrial boilers market as industries seek to meet evolving energy and environmental standards.
Key Findings of the Study
Industrial growth is expected to drive the market's growth rate
Expanding industries, especially in manufacturing, petrochemical, and food processing, significantly contribute to the demand for industrial boilers. These sectors require a consistent and reliable process heat and power source for their operations. As industries grow and diversify, the need for efficient and advanced boiler systems becomes more pronounced, stimulating market demand. Industrial boilers play a crucial role in supporting the operations of these expanding sectors, driving market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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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 (Carrier Fire Tube Boilers, Water Tube Boilers), Steam Pressure (High Pressure Boilers, Medium Pressure Boilers, Low Pressure Boilers), Steam 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), Industry (Food Industry, Breweries, Laundries and Cleaning Firm, Construction, Pharmaceutical, Automotive, Pulp and Paper, Hospitals, Agriculture, Packaging, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
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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. (Europe), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany), ALFA LAVAL (Sweden), General Electric Company (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), Cleaver-Brooks, Inc (U.S.) and 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 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.
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Segment Analysis:
The Asia-Pacific industrial boilers market is segmented 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.
- On the basis of tubing methods, the Asia-Pacific industrial boilers market is segmented into carrier fire tube boilers, and water tube boilers.
- On the basis of steam pressure, the Asia-Pacific industrial boilers market is segmented into high pressure boilers, medium pressure boilers, and low pressure boilers.
- On the basis of steam usage, the Asia-Pacific industrial boilers market is segmented into process boilers, utility boilers, and marine boilers.
- On the basis of furnace position, the Asia-Pacific industrial boilers market is segmented into externally fired boilers, and internally fired boilers.
- On the basis of shell axis, the Asia-Pacific industrial boilers market is segmented into horizontal boilers, and vertical boilers.
- On the basis of tubes in boilers, the Asia-Pacific industrial boilers market is segmented into multi-tube boilers, and single boilers.
- On the basis of water and steam circulation in boilers, the Asia-Pacific industrial boilers market is segmented into forced circulation boilers, and natural circulation boilers.
- On the basis of fuel type, the Asia-Pacific industrial boilers market is segmented into coal-fired boilers, oil fired boilers, gas fired boilers, biomass boilers, and others.
- On the basis of product type, the Asia-Pacific industrial boilers market is segmented into 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, and others.
- On the basis of boiler horsepower, the Asia-Pacific industrial boilers market is segmented into 10-150 BHP, 151 -300 BHP, and 301 - 600 BHP.
- On the basis of industry, the Asia-Pacific industrial boilers market is segmented into food industry, breweries, laundries and cleaning firm, construction, pharmaceutical, automotive, pulp and paper, hospitals, agriculture, packaging, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the Asia-Pacific industrial boilers market players in Asia-Pacific industrial boilers market are 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. (Europe), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany).
Market Developments
- In December 2022, Bharat Heavy Electricals (BHEL) entered into a Technology Licence Agreement with Finland's Sumitomo SHI FW. This agreement allows BHEL to engineer, design, produce, install, launch, and market supercritical and subcritical Circulating Fluidized Bed Combustion (CFBC) boilers in India and overseas regions. CFBC technology offers benefits such as fuel adaptability, enhanced operational flexibility, reduced Sox and Nox emissions, and the potential for biomass co-fired CFBC boilers.
- In November 2022, Babcock & Wilcox revealed a contract exceeding USD 24 million. This contract entails supplying advanced control technologies, two industrial package boilers, and associated equipment to a petroleum processing facility in North America. This investment underlines the importance of modernized control systems and efficient boiler solutions in optimizing operations within the North American petrochemical industry.
- In August 2022, Thermax, specializing in energy and environmental solutions, introduced an innovative multi-fuel boiler solution for industrial users looking to shift from conventional to eco-friendly energy sources. This solution offers the flexibility to switch between various fuel inputs, allowing industries to adapt to greener alternatives while maintaining operational efficiency, reducing emissions, and supporting sustainability initiatives.
- In August 2022, Thermax Babcock & Wilcox Energy Solutions introduced FlexiSource, a versatile waste solution. It addresses fuel availability challenges due to geopolitical uncertainties, fluctuating prices, and environmental concerns. FlexiSource offers adaptable energy input options, allowing users to optimize their energy sources based on changing circumstances. This innovative solution provides reliability and resilience, ensuring continuous energy supply while promoting environmental sustainability.
For more detailed information about the Asia-Pacific industrial boilers market report, click here – https://www.databridgemarketresearch.com/jp/reports/asia-pacific-industrial-boilers-market
