Due to the new technological advancement, industrial boilers are gaining more attention from consumers. The new boilers offer improved customer efficiency levels and new technologies for heat generation, such as waste heat recovery, biomass, and others. The industrial boiler has great adoption in the manufacturing businesses, food processing industries, and others.
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Global industrial boilers market is expected to reach USD 22,564.94 million by 2027 from USD 14,593.37 million in 2019 growing with the CAGR of 5.7% in the forecast period of 2020 to 2027. The major factors driving the market's growth are increasing demand for low emission industrial boilers and growing demand for advanced boiler solution from industrial verticals. In contrast, the high investment cost acts as a major restraint for the global industrial boilers market.
Growing concern for the environmentally friendly solution across the world will drive the market's growth rate
Market players are introducing new low-emission boilers and developing advanced boilers for more efficient and clean energy operations. Such advancement in boiler technology and increasing pollution standards for businesses supports the increased demand for low emission boilers. The requirement and growing concerns for environmentally friendly industrial boiler products augment 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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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2012 - 2017)
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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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Product (Software Components, Hardware Components and Standalone Platform), Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing, and Reporting), Technology (2D Barcodes, Radiofrequency Identification (RFID), and Linear/1D barcodes), End User (Pharmaceutical and Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Food and Beverage, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies, and Others), Distribution Channel (Direct Sales and Third Party Distributors)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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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. (Japan), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany), ALFA LAVAL (Sweden), General Electric (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), AB&CO GROUP (India), Suzhou Hailu Heavy Industry Co. Ltd (China), Cleaver-Brooks, Inc. (U.S.), 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 market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
Global industrial boilers market is segmented into eleven notable segments which are based 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 industrial boilers market has been segmented into carrier fire tube boilers and water tube boilers. In 2020, water tube boilers segment is expected to dominate the market with 64.50%market share owing to the factors such greater efficiency than fire tube boiler, can withstand high operation pressure, simple construction and many more.
- On the basis of steam pressure, the industrial boilers market has been segmented into high pressure boilers, medium pressure boilers and low pressure boilers. In 2020, high pressure boilers segment is expected to dominate the market with 57.68% market share owing to high demand of pressure boilers in the power plants, oil industry, food processing industry and others to improve the production capabilities. A high pressure boiler offers the improved heat and steam for the processes to complete task within low time period.
- On the basis of steam usage, the industrial boilers market has been segmented into process boilers, utility boilers and marine boilers. In 2020, process boilers segment is expected to dominate the market with 55.56% market share owing to the high adoption in the various verticals to generate or processes the steam and heat for the production activities. It is adopted by the various industrial verticals such as food, chemical, paper, pulp and others.
- On the basis of furnace position, the industrial boilers market has been segmented into externally fired boilers and internally fired boilers. In 2020, externally fired boilers segment is expected to dominate the market with 69.46% market share owing to the high adoption in the various verticals to generate or processes the steam and heat for the production activities. It is adopted by the various industrial verticals such as food, chemical, paper, pulp and others.
- On the basis of shell axis, the industrial boilers market has been segmented into horizontal boilers and vertical boilers. In 2020, horizontal boilers segment is expected to dominate the market with 66.08% market share owing to the increased space offered by the horizontal boiler over vertical boilers. In addition, the enhanced efficiency and capacity for steam and heat generation is supplementing the segment growth.
- On the basis of tubes in boilers, the industrial boilers market has been segmented into multi tube boilers and single tube boilers. In 2020, multi tube boilers segment is expected to dominate the market with 64.50% market share owing to increased capacity offered by the multiple tubes boiler over single tube boilers. In addition, the enhanced steam or heat capacity for processing application of the multi tube boilers is supplementing the segment growth.
- On the basis of water and steam circulation in boilers, the industrial boilers market has been segmented into forced circulation boilers and natural circulation boilers. In 2020, forced circulation boilers segment is expected to dominate the market with 62.86% market share owing to the faster generation of steam than natural circulation boilers. In addition, the reduced overall weight and less chances of overheating of the boilerplates are supplementing the segment growth.
- On the basis of fuel type in boilers, the industrial boilers market has been segmented into gas fired boilers, coal fired boilers, biomass boilers, oil fired boilers and others. In 2020, gas fired boilers segment is expected to dominate the market with 33.15% market share due to its favourable regulatory aspects with regards to CO2 and increase in the utilization of the gas boilers amongst the users, having high efficiency and others.
- On the basis of boiler horsepower, the industrial boilers market has been segmented into 10-150 BHP, 151 -300 BHP and 301 - 600 BHP. In 2020, 10-150 BHP segment is expected to dominate the market with 51.42% market share owing to high adoption in various verticals to generate steam or heat at efficient rate. It is adopted by the various industrial verticals such as food, chemical, paper, pulp and others as it requires low operational cost owing to great efficiency.
- On the basis of product type, the industrial boilers market has been 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. In 2020, condensing hot water boiler segment is expected to dominate the market with 29.80% market share as it offers the great efficiency at work comparing to the other boilers. It is widely adopted by food, breweries, laundry and other industries to generate steam with enhanced efficiency and quantity which is driving the segment growth.
The condensing hot water boiler segment will dominate the product type segment of the industrial boilers market
The condensing hot water boiler segment will emerge as the dominating segment under product type with approximately 30.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors industry all around the globe will further bolster the growth of this segment.
- On the basis of industry, the industrial boilers market has been segmented into food industry, breweries, laundries and cleaning firm, construction, pharmaceutical, automotive, pulp and paper, hospitals, agriculture, packaging and others. In 2020, the food industry segment is expected to dominate the market with 23.07% by adopting the steam boiler for food processing applications. To meet the steam and heat requirement for processing the large quantity of food steam boilers are becoming the prominent source which is driving the segment growth.
The food industry segment will dominate the industry segment of the industrial boilers market
The food industry segment will emerge as the dominating segment industry segment. This is because of the growing number of food outlets in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in industrial boilers market: 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. (Japan), Thermax Limited (India), ANDRITZ (Austria), Siemens (Germany), ALFA LAVAL (Sweden), General Electric (U.S.), Hurst Boiler & Welding Co, Inc. (U.S.), Bryan Steam (U.S.).
Market Development
- In May 2020, Suzhou Hailu Heavy Industry Co., Ltd, a market player, launched a Deltak technology-based new waste heat boiler. It is designed for the petrochemical plant project of KPI Company located in Kazakhstan. Through this, the company has enhanced their product portfolio for the market specifically for Kazakhstan.
- In April 2020, Babcock & Wilcox Enterprises, Inc, a market player has formed service contract with Viridor for U.K. waste-to-energy plants. A subsidiary company Babcock & Wilcox Vølund A/S (Vølund) has been awarded with USD 4 million contracts to offer service for the Frederikshavn plant's boiler.
- In June 2020, Compte.R introduced a new range of Solid Biomass boilers for the low NOx emissions application. The new biomass boiler offers higher efficiency for businesses by using renewable sources such as biomass. Industrial businesses are adopting the technology to reduce NOx emission and it offers automatic cleaning & removal of the ash.
- In January 2020, ZOZEN, an industrial boiler manufacturer, formed a partnership with LibbeyInc to develop a new boiler to improve the atmospheric environment. The company is developing the low NOx gas-fired boilers for the glassware industry and others. The technology is getting installed at Libbey (China) Co., Ltd plant for which they signed a contract with ZOZEN boiler Co., Ltd. Through this company is lowering the generation of thermal NOx and adhering concept of green manufacturing.
Regional Analysis
Geographically, the countries covered in the track and trace solutions market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
Europe is the dominant region in industrial boilers market during the forecast period 2020 - 2027
Europe dominates the industrial boilers market due to the swift industrialization. Furthermore, the rise in the stringent guidelines by the government regarding the harmful emissions in the environment will further boos the growth of the industrial boilers market in the region during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in industrial boilers market the forecast period 2020 - 2027
Asia-Pacific is projected to observe a significant amount of growth of the industrial boilers market due to the rise in industrialization. Moreover, the upsurge in demand for environmentally friendly and biodegradable packaging products is further anticipated to propel the growth of the industrial boilers market in the region in the coming years.
COVID-19 Impact
The COVID-19 pandemic has had a minor impact on the industrial boiler industry due to a significant delay in production facilities. The suspension of industrial operations impacted the total demand for boilers. However, the industry scenario will be aided by the easing of constraints and the advancement of R&D policies for the facilitation of sophisticated designs. Additionally, government initiatives for a green heating system combined with ongoing infrastructure development would boost market demand.
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