Product Code: CH 4817
"The industrial boilers market is projected to grow at a CAGR of 5.7% between 2020 and 2025"
The industrial boilers market is estimated at USD 14.6 billion and is projected to reach USD 19.3 billion by 2025, at a CAGR of 5.7% from 2020 to 2025. Rising demand for industrial boilers from the food & beverage industry and high demand for clean technology in the chemical end-use industry have been the major drivers for the growth of the industrial boilers market.
Natural gas & biomass segment is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025
Natural gas & biomass is projected to be the fastest-growing fuel type segment in the industrial boilers market during the forecast period. Natural gas & biomass-fired boilers can either be fueled by natural gas or biomass with modifications accounting for the different characteristics of the fuels. Natural gas-fired boilers are most commonly used in western countries because of their easy availability and regulatory guidelines with respect to CO2 emissions. With increasingly stringent environmental regulations in developed countries, the natural gas & biomass segment is expected to grow at a rapid pace during the forecast period.
The chemical segment is projected to lead the industrial boilers market
The chemical segment is the largest end-use industry in the market, owing to a large number of installations across the industry. Industrial boilers in the chemical industry are primarily used to provide large quantities of high-quality, high-temperature steam for production processes. Major sectors in the chemical industry that require heat energy and power include petrochemicals, industrial gases, alkali and chlorine, synthetic rubber, synthetic organic fibers, and agricultural chemicals (fertilizers and pesticides).
10-150 BHP segment is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025
The 10-150 BHP is projected to be the fastest-growing boiler horsepower segment in the industrial boilers market during the forecast period. Industrial boilers ranging from 10 BHP to 150 BHP are small size boilers in terms of capacity. These boilers are commonly installed across end-use industries for steam and hot water applications. They are majorly available in standard designs according to their sizes, and there are very low customizations in these boilers. This range of boilers are very easy to install and are the highest manufactured industrial boilers around the world.
Based on the region, Asia Pacific is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025
The industrial boilers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China accounted for the major share of the global industrial boilers market in 2019, which is driving the growth of the Asia Pacific region. China, India, and Japan are expected to be lucrative markets for industrial boilers in the Asia Pacific region during the forecast period. Growth can be attributed to the increasing demand for industrial boilers from the region's chemical, food, refineries, metals & mining, among other end-use industries, particularly in China and India, which are witnessing rapid industrialization.
Breakdown of primary interviews for the report on the industrial boilers market:
- By Company Type - Tier 1 - 30%, Tier 2 -60%, and Tier 3 - 10%
- By Designation - C-Level - 20%, D-Level Executives - 30%, and Others - 50%
- By Region - Europe - 40%, Asia Pacific - 30%, North America - 20%, Rest of the World - 10%
The leading manufacturers of industrial boilers profiled in this report include: Babcock & Wilcox Enterprises, Inc. (US), Siemens AG (Germany), GE Power (US), John Wood Group PLC (UK), Dongfang Electric Corporation Limited (DEC Ltd.) (China), Bharat Heavy Electricals Limited (BHEL) (India), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Harbin Electric Company Limited (China), IHI Corporation (Japan), Alfa Laval AB (Sweden), ANDRITZ AG (Austria), Thermax Limited (India), Robert Bosch GmbH (Germany), Sofinter Group (Italy), Cleaver-Brooks, Inc. (US), and Byworth Boilers Limited (UK), among others.
Research Coverage:
The report covers the industrial boilers market by fuel type (natural gas & biomass, coal, oil, and others), by boiler type (fire-tube and water-tube), by boiler horsepower (10-150 BHP, 151-300 BHP, and 301-600 BHP), by end-use industry (chemical, food, metals & mining, refineries, and others), and by region. The study aims at estimating the size and future growth potential of the market across various segments. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. With these insights, the study discusses the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, drivers, restraints, opportunities, and challenges in the industrial boilers market.
The report provides insights on the following:
- Market Penetration: Comprehensive information on various products of industrial boilers offered by top players operating in the market
- Product Development/Innovation: Detailed insights into upcoming developments in the industrial boilers market, R&D activities, and new applications in various end-use industries in the market
- Market Development: Comprehensive information about lucrative and emerging markets across different regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the industrial boilers market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the industrial boilers market
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.2.1 MARKET SCOPE
- 1.2.2 YEARS CONSIDERED FOR THE STUDY
- 1.3 CURRENCY
- 1.4 STAKEHOLDERS
- 1.5 LIMITATIONS
2 RESEARCH METHODOLOGY
- 2.1 MARKET DEFINITION AND SCOPE
- 2.2 BASE NUMBER CALCULATION
- 2.3 FORECAST NUMBER CALCULATION
- 2.4 MARKET ENGINEERING PROCESS
- 2.4.1 TOP-DOWN APPROACH
- 2.4.2 BOTTOM-UP APPROACH
- 2.5 ASSUMPTIONS
- 2.6 RESEARCH DATA
- 2.6.1 SECONDARY DATA
- 2.6.1.1 Key data from secondary sources
- 2.6.2 PRIMARY DATA
- 2.6.2.1 Key data from primary sources
- 2.6.2.2 Breakdown of primary interviews
- 2.6.2.3 Key industry insights
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE INDUSTRIAL BOILERS MARKET
- 4.2 INDUSTRIAL BOILERS MARKET, BY FUEL TYPE & BOILER TYPE
- 4.3 INDUSTRIAL BOILERS MARKET, BY COUNTRY
5 MARKET OVERVIEW AND INDUSTRY TRENDS
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Rising demand for industrial boilers from the food & beverage industry
- 5.2.1.2 High demand for clean technology in the chemical end-use industry
- 5.2.1.3 Increasing demand for electricity
- 5.2.2 RESTRAINTS
- 5.2.2.1 Significant capital investment and high cost of installation
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Aging power generation infrastructure
- 5.2.3.2 Increasing use of natural gas
- 5.2.3.3 Increasing demand for compact designs and lean operations
- 5.2.4 CHALLENGES
- 5.2.4.1 Boiler efficiency and steam quality
- 5.2.4.2 Strict emission standards
- 5.3 INDUSTRIAL BOILERS MARKET: TRENDS
- 5.4 VALUE CHAIN ANALYSIS
- 5.5 PORTER'S FIVE FORCES ANALYSIS
- 5.5.1 BARGAINING POWER OF BUYERS
- 5.5.2 BARGAINING POWER OF SUPPLIERS
- 5.5.3 THREAT OF NEW ENTRANTS
- 5.5.4 THREAT OF SUBSTITUTES
- 5.5.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.6 MACROECONOMIC INDICATORS
- 5.6.1 CHEMICAL
- 5.6.2 ENERGY & POWER
6 INDUSTRIAL BOILERS MARKET, BY FUEL TYPE
- 6.1 INTRODUCTION
- 6.2 NATURAL GAS
- 6.2.1 NATURAL GAS-FIRED INDUSTRIAL BOILERS ARE A MAJOR SUBSTITUTE FOR CONVENTIONAL FUEL
- 6.3 COAL
- 6.3.1 ASIA PACIFIC IS THE LARGEST MARKET FOR COAL-FIRED INDUSTRIAL BOILERS
- 6.4 OIL
- 6.4.1 HIGH AVAILABILITY OF CRUDE OIL IN ASIA PACIFIC IS EXPECTED TO DRIVE GROWTH OF THE MARKET
- 6.5 OTHERS
- 6.5.1 HIGH DEMAND FOR INDUSTRIAL BOILERS FIRED WITH PROPANE, BUTANE, AND WOOD IN ASIA PACIFIC IS EXPECTED TO DRIVE THE OTHER FUEL TYPE SEGMENT
7 INDUSTRIAL BOILERS MARKET, BY BOILER TYPE
- 7.1 INTRODUCTION
- 7.2 FIRE-TUBE
- 7.2.1 FIRE-TUBE BOILERS ARE HIGHLY PREFERRED
- 7.3 WATER-TUBE
- 7.3.1 ASIA PACIFIC IS THE LARGEST MARKET FOR WATER-TUBE INDUSTRIAL BOILERS
8 INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER
- 8.1 INTRODUCTION
- 8.2 10-150 BHP
- 8.2.1 ASIA PACIFIC IS THE LARGEST MARKET FOR 10-150 BHP INDUSTRIAL BOILERS
- 8.3 151-300 BHP
- 8.3.1 ASIA PACIFIC IS ESTIMATED TO REGISTER HIGH GROWTH DURING THE FORECAST PERIOD
- 8.4 301-600 BHP
- 8.4.1 INCREASING DEMAND FOR HIGH-PRESSURE STEAM OUTPUT IS DRIVING THE GROWTH OF THE SEGMENT
9 INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY
- 9.1 INTRODUCTION
- 9.2 CHEMICAL
- 9.2.1 HIGH DEMAND FOR BULK CHEMICALS IN EMERGING COUNTRIES IS DRIVING THE GROWTH OF THE CHEMICAL SEGMENT IN THE MARKET
- 9.3 FOOD
- 9.3.1 INCREASING DEMAND FOR PACKAGED FOOD IS EXPECTED TO FUEL THE GROWTH OF THE FOOD SEGMENT IN THE INDUSTRIAL BOILERS MARKET
- 9.4 REFINERIES
- 9.4.1 CFBC INDUSTRIAL BOILERS ARE WIDELY BEING ADOPTED IN REFINERIES
- 9.5 METALS & MINING
- 9.5.1 HIGH PRESSURE AND TEMPERATURE REQUIREMENTS IN THE STEEL INDUSTRY TO DRIVE THE GROWTH OF THE METALS & MINING SEGMENT
- 9.6 OTHERS
- 9.6.1 ASIA PACIFIC IS THE LARGEST MARKET FOR OTHER END-USE INDUSTRIES
IN THE INDUSTRIAL BOILERS MARKET 69
10 REGIONAL ANALYSIS
- 10.1 INTRODUCTION
- 10.2 ASIA PACIFIC
- 10.2.1 BY COUNTRY
- 10.2.2 BY FUEL TYPE
- 10.2.3 BY BOILER TYPE
- 10.2.4 BY BOILER HORSEPOWER
- 10.2.5 BY END-USE INDUSTRY
- 10.2.6 CHINA
- 10.2.6.1 Rising demand for ammonia and methanol in chemical applications drives the growth of the industrial boilers market in China
- 10.2.7 INDIA
- 10.2.7.1 Increased manufacturing activities are contributing to the growth of the industrial boilers market in India
- 10.2.8 JAPAN
- 10.2.8.1 Growing use of boilers in the chemical end-use industry to drive the growth of the industrial boilers market in Japan
- 10.2.9 SOUTH KOREA
- 10.2.9.1 Increasing presence of chemical manufacturers expected to drive the growth of the industrial boilers market in South Korea
- 10.2.10 MALAYSIA
- 10.2.10.1 Rising demand for food products is expected to drive the industrial boilers market in Malaysia
- 10.2.11 AUSTRALIA
- 10.2.11.1 Growth of the chemical industry is fueling the demand for industrial boilers in Australia
- 10.2.12 NEW ZEALAND
- 10.2.12.1 Growing demand from the chemical industry expected to fuel the industrial boilers market in New Zealand
- 10.2.13 REST OF ASIA PACIFIC
- 10.2.13.1 Growth in the manufacturing sector to drive the industrial boilers market in the Rest of Asia Pacific
- 10.3 EUROPE
- 10.3.1 BY COUNTRY
- 10.3.2 BY FUEL TYPE
- 10.3.3 BY BOILER TYPE
- 10.3.4 BY BOILER HORSEPOWER
- 10.3.5 BY END-USE INDUSTRY
- 10.3.6 GERMANY
- 10.3.6.1 Presence of leading manufacturers of industrial boilers in Germany driving the growth of the market
- 10.3.7 UK
- 10.3.7.1 Discontinuation of coal-fired industrial boilers to boost demand for natural gas-fired industrial boilers in the UK
- 10.3.8 FRANCE
- 10.3.8.1 Rising demand from the chemical industry drives the growth of the industrial boilers market in France
- 10.3.9 RUSSIA
- 10.3.9.1 Growing demand for industrial boilers in the food end-use industry expected to drive the market in Russia
- 10.3.10 ITALY
- 10.3.10.1 Growth of food end-use industry is expected to drive the industrial boilers market in Italy
- 10.3.11 BELGIUM
- 10.3.11.1 Demand for processed food products is expected to drive the industrial boilers market in Belgium
- 10.3.12 SPAIN
- 10.3.12.1 Growing demand for industrial boilers for processing dairy and meat products to fuel food segment in Spain
- 10.3.13 REST OF EUROPE
- 10.3.13.1 Demand for industrial boilers from chemical and food segments drives the market in Rest of Europe
- 10.4 NORTH AMERICA
- 10.4.1 BY COUNTRY
- 10.4.2 BY FUEL TYPE
- 10.4.3 BY BOILER TYPE
- 10.4.4 BY BOILER HORSEPOWER
- 10.4.5 BY END-USE INDUSTRY
- 10.4.6 US
- 10.4.6.1 Increasing chemical production to drive chemical end-use industry in the US industrial boilers market
- 10.4.7 CANADA
- 10.4.7.1 Significant presence of food processing companies to drive the growth of the industrial boilers market in Canada
- 10.4.8 MEXICO
- 10.4.8.1 Rising demand from the chemical segment boosts the growth of the industrial boilers market in Mexico
- 10.5 MIDDLE EAST & AFRICA
- 10.5.1 BY COUNTRY
- 10.5.2 BY FUEL TYPE
- 10.5.3 BY BOILER TYPE
- 10.5.4 BY BOILER HORSEPOWER
- 10.5.5 BY END-USE INDUSTRY
- 10.5.6 SAUDI ARABIA
- 10.5.6.1 Rising thermal energy consumption in the chemical end-use industry is expected to drive the market in Saudi Arabia
- 10.5.7 IRAN
- 10.5.7.1 Rise in the demand for chemicals and petrochemicals expected to drive the growth of the chemical end-use industry in Iran
- 10.5.8 UAE
- 10.5.8.1 Increasing demand for basic chemicals, polymers, and fertilizers is expected to fuel the growth of the chemical segment in the UAE
- 10.5.9 SOUTH AFRICA
- 10.5.9.1 The growth of the manufacturing sector is expected to drive the South Africa industrial boilers market
- 10.5.10 REST OF MIDDLE EAST & AFRICA
- 10.5.10.1 Increasing demand for industrial chemicals and fertilizers is driving the growth of the chemical segment in the industrial boilers market in the Rest of Middle East & Africa
- 10.6 SOUTH AMERICA
- 10.6.1 BY COUNTRY
- 10.6.2 BY FUEL TYPE
- 10.6.3 BY BOILER TYPE
- 10.6.4 BY BOILER HORSEPOWER
- 10.6.5 BY END-USE INDUSTRY
- 10.6.6 BRAZIL
- 10.6.6.1 Need to increase chemical output drives the market in Brazil
- 10.6.7 ARGENTINA
- 10.6.7.1 Demand from food end-use industry to drive the growth of the market in Argentina
- 10.6.8 COLOMBIA
- 10.6.8.1 Increasing demand for boilers for industrial activities to drive the growth of the industrial boilers market in Colombia
- 10.6.9 PERU
- 10.6.9.1 Growth in the manufacturing sector is expected to drive the growth of the market in Peru
- 10.6.10 REST OF SOUTH AMERICA
- 10.6.10.1 Food end-use industry is expected to drive the growth of the market in the Rest of South America
11 COMPETITIVE LANDSCAPE
- 11.1 INTRODUCTION
- 11.2 COMPETITIVE LEADERSHIP MAPPING
- 11.2.1 VISIONARY LEADERS
- 11.2.2 INNOVATORS
- 11.2.3 DYNAMIC DIFFERENTIATORS
- 11.2.4 EMERGING COMPANIES
- 11.2.5 STRENGTH OF PRODUCT PORTFOLIO
- 11.2.6 BUSINESS STRATEGY EXCELLENCE
- 11.3 MARKET SHARE OF KEY PLAYERS IN THE INDUSTRIAL BOILERS MARKET
12 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Winning imperatives, Current Focus and Strategies, Right to Win)*
- 12.1 BABCOCK & WILCOX ENTERPRISES, INC.
- 12.2 GE POWER
- 12.3 SIEMENS AG
- 12.4 JOHN WOOD GROUP PLC
- 12.5 DONGFANG ELECTRIC CORPORATION LIMITED (DEC LTD.)
- 12.6 MITSUBISHI HITACHI POWER SYSTEMS, LTD.
- 12.7 THERMAX LIMITED
- 12.8 SOFINTER GROUP
- 12.9 BHARAT HEAVY ELECTRICALS LIMITED (BHEL)
- 12.10 HARBIN ELECTRIC COMPANY LIMITED
- 12.11 IHI CORPORATION
- 12.12 ALFA LAVAL AB
- 12.13 ANDRITZ AG
- 12.14 ROBERT BOSCH GMBH
- 12.15 CLEAVER-BROOKS, INC.
- 12.16 BYWORTH BOILERS LIMITED
- 12.17 OTHER KEY PLAYERS
- 12.17.1 AB&CO GROUP
- 12.17.2 BRYAN STEAM LLC
- 12.17.3 COCHRAN LTD
- 12.17.4 FORBES MARSHALL PRIVATE LIMITED
- 12.17.5 THE FULTON COMPANIES
- 12.17.6 VAPOR POWER INTERNATIONAL, LLC
- 12.17.7 SUPERIOR BOILER WORKS INC.
- 12.17.8 HURST BOILER & WELDING COMPANY, INC.
- 12.17.9 JOHNSTON BOILER COMPANY
- 12.17.10 PARKER BOILER COMPANY
- 12.17.11 RENTECH BOILER SYSTEMS, INC.
- 12.17.12 SUZHOU HAILU HEAVY INDUSTRY CO. LTD.
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Winning imperatives, Current Focus and Strategies, Right to Win might not be captured in case of unlisted companies.
13 APPENDIX
- 13.1 EXCERPTS FROM EXPERT INTERVIEWS
- 13.2 DISCUSSION GUIDE
- 13.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
- 13.4 AVAILABLE CUSTOMIZATIONS
- 13.5 RELATED REPORTS
- 13.6 AUTHOR DETAILS
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