Global Industrial Boilers Market to 2028:
Increasing Demand for Biomass Boilers to Mitigate Carbon Emission Presents Opportunities – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Industrial Boilers: Technologies and Developing Markets” report has been added to ResearchAndMarkets.com’s offering.
The global industrial boilers market is expected to reach $14.6 billion by 2028 from $11.5 billion in 2023 at a CAGR of 4.8%.
The industrial boiler market is expected to grow due to the rising demand for steam in the power generation, chemical and food industries. Also, significant growth prospects in industrialization across developing economies are likely to drive the demand for industrial boilers.
Stringent government regulations to reduce carbon emissions from coal-fired boilers are anticipated to propel the demand for biomass boilers. Also, the supportive initiatives for adopting efficient heating systems and surging demand for steam and hot water for industrial applications will propel the demand for industrial boilers, which will help augment the market over the coming years.
Rapid industrialization is one of the prominent factors attributed to the demand for industrial boilers, further leveraging the market growth. After the pandemic subsided, the world witnessed growth in manufacturing production across countries and major sectors in 2021.
According to a World Manufacturing Production report, global manufacturing output saw a year-over-year growth rate of between 3% and 4% in 2021 and is projected to increase in the coming years. Industrial economies currently account for almost 91% of global manufacturing output. Thus, such growth prospects in the manufacturing sector are anticipated to likely drive the demand for boilers for various industrial processes, bolstering market growth.
Government regulations for mitigating carbon emissions from industrial activities will boost the demand for biomass boilers, wherein these boilers supply energy and at the same time help dispose of wood and other waste material. It is an effective low-carbon alternative to more traditional heating systems.
Also, supportive government policies for generating renewable energy is further augmenting the demand for biomass boilers. The growing investment in biomass boilers and rising awareness among the population to adopt energy-saving solutions for emission control are the prominent factors attributed to the demand for biomass boilers in industries, which will also help propel the market growth over the forecast period.
This report analyzes different industrial boilers by boiler type, function type, fuel type, capacity, end-use industry, and regional market development. Furthermore, the report segments the market by major countries, such as the U.S., China, Germany, India, and others, where the opportunities for industrial boilers are lucrative.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, etc. We have also included a list of other companies in global and regional markets. Also, the report includes a patent analysis for the industrial boiler market, which represents a significant investment area for investors.
The report incorporates an analysis of the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.
In this report, 2022 is used as the market’s base year, estimated values are provided for 2023, and the market values are forecast from 2023 to 2028. All market values are provided in millions of dollars, and market shares and compound annual growth rates (CAGRs) are provided in percentages.
Report Includes
- 67 data tables and 37 additional tables
- An overview of the global market for industrial boilers
- Analyses of global market trends, with data for 2022, estimates for 2023 and projections of compound annual growth rates (CAGRs) through 2028
- Information on history and evolution, advancements, applications and benefits of industrial boilers
- Coverage of industrial boiler technology by various categories, along with relevant market and production information, technological descriptions, issues involved, applications, and growth driving factors and potentials
- Assessment of governmental regulations regarding boiler emissions and standards, and identification of key laws that are expected to drive development of industrial boilers markets
- Examination of the moderate level of fragmentation among smaller and specialty boiler makers
- Analyses of manufacturing industries these boilers widely support, including food and food products, chemicals, paper and paper products, petroleum refining and petroleum products, and metals
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 285 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $11.5 Billion |
| Forecasted Market Value (USD) by 2028 | $14.6 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growing Industrialization in Developing Economies Propels the Market Growth
- Increasing Demand for Boilers from Food/ Beverage and Chemical Industries
Restraints
- High Initial Cost is Expected to Restrain Market Growth
Current Market Trends
- Upgrading and Replacement of Existing Boilers
- Stringent Regulations for Emitting Carbon Emissions
Opportunities
- Increasing Demand for Biomass Boilers to Mitigate Carbon Emission
- Growing Focus on Generating Renewable Energy Sources
Companies Mentioned
- Alfa Laval
- Andritz Group
- Babcock & Wilcox Enterprises Inc.
- Bharat Heavy Electricals Ltd.
- Bosch Group
- Byworth Boilers
- Cleaver-Brooks
- Forbes Marshall
- Fulton Boiler Works Inc.
- Harbin Electric Co. Ltd.
- IHI Corp.
- John Cockerill
- Johnston Boiler Co.
- Mitsubishi Heavy Industries Ltd.
- Miura America Co. Ltd.
- Siemens AG
- Thermax Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/10ba4l
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