Industrial Boiler Market revenue to cross USD 12 Bn by 2028: Global Market Insights Inc.

Selbyville, Delaware, April 11, 2022 (GLOBE NEWSWIRE) —

The industrial boiler market size is expected to record a valuation of USD 12 billion by 2028, according to the most recent study by Global Market Insights Inc.  The market is slated to witness significant gains on account of increasing industrialization and rising demand for thermal efficient power generation systems.

Ongoing investments toward development of new industrial centers along with focus toward upgradation of supporting infrastructure will accelerate the industrial boiler market growth. Rising concerns pertaining to carbon emissions along with achieving energy efficiency have compelled the regulators to formulate stringent norms, enhancing the industry expansion.

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Continuous technological advancements across industries along with surging requirements for high-capacity steam generation systems will augment the industry landscape. Rising inclination toward the enhancement of efficient heating systems in line with government focus toward the deployment of low emission heating units will fuel the product demand. Ongoing modernization coupled with the revival of commercial and industrial sectors will sway the business landscape. Moreover, the enactment of strict government mandates to reduce greenhouse gas emissions along with the development of clean heat generation utilities will foster the market progression.

The 50-75 MMBtu/hr capacity boiler is poised to register substantial growth attributed to the rapid industrialization in line with the growing focus toward the expansion of industrial facilities. Favorable government initiatives toward efficient energy conservation coupled with the growing installation of innovative steam generation boilers will propel the market expansion. In addition, continuous demand for heat and steam across various industry operations along with the development of industries across growing economies will boost the market value.

Chemical application in the industrial boiler market is predicted to showcase admirable growth owing to the increasing regulatory norms toward reduced carbon emission facilities and the growing replacement of traditional systems. Declining crude oil prices along with rising per capita income across developing countries has stimulated the demand for refined petroleum product, which in turn will spur the industry progression. The ongoing infrastructural expansion due to the resurgent construction sector along with increasing space heating demand will positively impact the industry growth.

Europe industrial boiler market is anticipated to observe a 3.5% growth rate till 2028 impelled by the stringent government laws & policies to reduce carbon footprints along with favorable partnerships across major industries. For instance, in June 2021, Vattenfall, one of the largest retailers of heat & electricity, was awarded a permit to build a 150-megawatt E-boiler, which is estimated to be the largest in Europe. Additionally, escalating demand for increased capacity utility boilers along with the adoption of zero-emission power generation systems will positively influence the industry value.

Eminent players operating in the market include Babcock and Wilcox Enterprises, Bharat Heavy Electricals, The Fulton Companies, Hurst Boiler and Welding, Cleaver-Brooks, IHI Corporation, Clayton Industries, John Cockerill, John Wood Group, Cochran, Doosan Heavy Industries & Construction, Forbes Marshall, Mitsubishi Heavy Industries, General Electric, Siemens, Sofinter, Rentech Boilers, Thermax, Miura America, Hoval, Viessmann Climate Solutions, Fondital, Ferroli, Groupe Atlantic, Fonderie Sime, Bosch Industriekessel, Victory Energy Operations and Walchandnagar Industries.

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Some of the key findings of the industrial boiler market report include:

  • A paradigm shift toward the replacement of conventional boilers coupled with increasing government investments in the development of manufacturing units will increase the market demand.
  • A positive outlook toward the development of industries including food processing and pulp & paper along with increasing technological advancements will surge the business scenario.
  • Ongoing government mandates & regulations on reducing carbon footprints in line with growing research & development activities toward sustainable solutions will drive the industry revenue.

Table of Contents (ToC) of the report

Chapter 3   Industrial Boiler Market Insights
3.1    Industry ecosystem analysis
3.2    Innovation & technology landscape
3.3    Regulatory landscape
3.4    COVID- 19 impact on the industry outlook
3.5    Industry impact forces
3.5.1    Growth drivers
3.5.2    Industry pitfalls & challenges
3.6    Growth potential analysis
3.7    Porter’s Analysis
3.8    Competitive landscape, 2021
3.9    PESTEL Analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.