The global market size of industrial boilers is projected to grow from USD 15.3 billion in 2022 to USD 19.8 billion by 2030, at a CAGR of 3.3%

New York, March 23, 2023 (GLOBE NEWSWIRE) — announces the release of the report “Industrial Boilers Market by Fuel, Boiler, Function, Boiler Horsepower, End-Use Industry And Region – Global Forecast to 2030” –
This market is predicted to grow rapidly in the coming years.

In terms of value,water-tube accounts for the fastest-growing segment in industrial boilers market, by boiler type, during the forecast period.
The water-tube boiler segment is the fastest-growing application type of industrial boiler. In terms of value, it is projected to register a CAGR of 3.7% between 2022 and 2030. Water-tube boilers are particularly attractive in applications that require dry, high-pressure, high-energy steam, including steam turbine power generation. Water-tube industrial boilers are preferred in various industrial applications, such as chemical processing, pulp & paper, and refining units. They can be easily replaced or repaired.

In terms of value, coal is estimated to be account for sluggish growing segment in industrial boilers market, by fuel type, during the forecast period.
Coal is estimated to witness sluggish growth in the market during 2022-2030.This is attributed to the increasing demand for renewables.

However, coal is widely available for industrial boilers and is more economical than other fuel types, such as nuclear energy and biomass.

In terms of value, 10-150 BHP is estimated to be third fastest-growing segment in industrial boilers market, by boiler horsepower type, during the forecast period.
The 10-150 BHP boilers segment is the third fastest-growing boiler horsepower type of industrial boiler. In terms of value, it is projected to register a CAGR of 2.9% between 2022 and 2030. Small-sized industrial boilers range from 10–150 BHP in terms of capacity and are used for steam and hot water applications in various industries like food processing & paper & pulp. They are available in standard designs based on their sizes with low customizations. These boilers are easy to install and are the highest manufactured industrial boilers worldwide. They are used in factories, schools, hospitals, and other large buildings requiring efficient heating.

In terms of value, hot-water is estimated to fastest growing segment in industrial boilers market, by function type, during the forecast period.
The hot water boilers segment is the fastest-growing function type of industrial boiler. In terms of value, it is projected to register a CAGR of 3.8% between 2022 and 2030. Hot water boilers are used in residential, commercial, and institutional buildings. These boilers are designed to operate on various fuel types such as heavy oil, light oil, gas, dual fuel, coal, husk, and other agro-waste fuels. They offer high efficiency, low maintenance, and good durability.

In terms of value, paper & pulp is estimated to be third fastest-growing segment in industrial boilers market, by end use, during the forecast period.
Paper & pulp is the third fastest growing segment by end-use during the forecast period 2022-2030.Industrial boilers generate steam for power and process systems in the paper industry.

The high-pressure steam is used in steam turbines to generate electricity for the paper mill.The pulp & paper industry requires medium and low-pressure steam for various process applications, such as heating and cooking the wood chips to make wood pulp.

In paper mills, steam is used in other applications such as heating chemicals, dryer drums, and other processes.

North America region accounted for the third-fastest growing segment in the industrial boilers market by value.

North America is the third-largest industrial boilers market in terms of value, in 2022.The countries in the region have already started implementing new regulations that promote the wide use of renewable fuels based boilers.

North America houses many industrial boilers manufacturers.The region relies heavily on coal and gas for electricity generation.

However, with the new regulations in compliance with the US Environmental Protection Agency’s Mercury and Air Toxics Standards, net coal production capacity decreased by nearly 60 gigawatts (GW). It is further estimated that between 2017 and 2030, an additional 65 GW of coal-fired generating capacity would shut down due to competitively priced natural gas and increasing energy generation from renewable sources.

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the industrial boilers market, and information was gathered from secondary research to determine and verify the market size of several segments. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
• By Designation: C Level Executives– 20%, Directors – 40%, and Others – 40%
• By Region: Asia Pacific – 50%, Europe – 20%, North America – 10%, the Middle East & Africa – 10%, and South America- 10%
Babcock & Wilcox Enterprises INC (US), Siemens AG (Germany), John Wood Group PLC (UK), Dongfang Electric Corporation Limited (DEC LTD) (China), Mitsubishi Power (Japan), Thermax Limited (India), Sofinter Group (Italy), Bharat Heavy Electricals Limited (BHEL) (India), Harbin Electric Company Limited (China), IHI Corporation (Japan), Alfa Laval AB (Sweden), Andritz AG (Austria), Robert Bosch GMBH (Germany), Cleaver Brooks Inc. (US), and Byworth Boilers Limited (UK) are the key players in the industrial boilers market

Research Coverage:
This research report categorizes the industrial boilers market based on fuel type, boiler type, function type, boiler horse type, end use, and region.Based on fuel type, the market has been segmented into coal, natural gas, oil & others.

Based on boiler type, the market has been segmented into fire-tube boilers & water-tube boilers.Based on the function type, industrial boilers have been segmented into steam & hot-water boilers.

Based on the boiler horsepower type, industrial boilers are segmented into 10-150 BHP, 151-300 BHP, 301-600 BHP & Above 600 BHP.Based on end-use industry, the market has been segmented into chemicals & petrochemicals, food, metals &mining, power generation and others.

Based on region, the industrial boilers market has been segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches, investment & expansions, mergers & collaborations; and recent developments associated with the industrial boilers market.

Key Benefits of Buying the Report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the industrial boilers Insulation market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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