Industrial Boiler Market Overview
Industrial Boiler Market size was valued at US$ 33.70 billion in 2023 and is expected to grow at 5.66% through 2024 to 2030, reaching nearly US$ 49.55 Billion.
Boilers generates steam for power generation and various other industrial heating application.Industrial Boilers are widely used in a chemical and pharmaceuticals, metal, food and beverage and mining industries. Covid 19 has significantly impacted the boiler industry. With strict orders on social distancing and lockdowns, many boiler maintenance businesses have been unable to provide Maintenance services as regularly as they once did. However, despite these challenges, now several boiler maintenance businesses have opened and provided their services by issuing protocols on COVID-19.
Industrial Boiler Market Report Scope and Research Methodology
The rapid development of industries across the globe and the increasing demand for high-quality, energy-efficient boilers are a reason to boost the industrial boiler market. Moreover, technical developments and advanced technology used to reduce carbon emissions are likely to drive the Industrial Boiler market.
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Industrial Boiler Market Regional Insights
Asia Pacific countries such as China, India, Australia, Japan, and Singapore are growing in terms of the economy due to rapid growth in industrialization. As per the IEA, Asia Pacific is expected to account for two-thirds of the global energy demand growth. Asia Pacific Industrial Boiler Market is expected to grow at the highest CAGR between the forecast period of 2024 - 2030.
Industrial Boiler Market Segmentation
By Type, The Fire-tube boiler is working on a pressure up to 20 bar. It requires more floor area and Load fluctuation cannot be handled easily so this type of industrial boiler is only used for small power plants. The water-tube boiler segment is more suited to high-pressure steam generation as small tubes can maintain high pressure better and are less vulnerable to fracturing and failure. The Water-tube boiler segment of the industrial boiler market held the highest share of 60% in 2020. This segment is projected to witness a CAGR of 6.5% in the forecast period (2024-2030).
Industrial Boiler Market Key Players
Bharat Heavy Electricals
A.O. Smith
Parker
Cleaver-Brooks
Thermax
Weil-McLain
Fulton
General Electric
Babcock and Wilcox
Forbes Marshall
Burnham
Hurst Boiler and Welding
Cochran
DEC
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Key questions answered in the Industrial Boiler Market are:
- What is Industrial Boiler ?
- What was the Industrial Boiler market size in 2023?
- What is the growth rate of the Industrial Boiler Market?
- Which are the factors expected to drive the Industrial Boiler market growth?
- What are the different segments of the Industrial Boiler Market?
- What growth strategies are the players considering to increase their presence in Industrial Boiler ?
- What are the upcoming industry applications and trends for the Industrial Boiler Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Boiler Market?
- What segments are covered in the Industrial Boiler Market?
- Who are the leading companies and what are their portfolios in Industrial Boiler Market?
- What segments are covered in the Industrial Boiler Market?
- Who are the key players in the Industrial Boiler market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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