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What's driving the Industrial Boiler Market share? Key players are General Electric, Siemens, Thermax Limited, Bosch Thermotechnology, IHI Corporation, Clayton Industries, John Cockerill, Cochran, Forbes Marshall Private Limited

03-27-2020 11:25 AM CET | Business, Economy, Finances, Banking & Insurance

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Industrial Boiler Market

Industrial Boiler Market

Industrial boiler market is projected to record significant gains over the forthcoming timeframe. Industrial boilers are mostly made by connecting together thick steel plates, enabling the production of very high pressures. The main function of industrial boiler is to produce either hot water or steam.

Based on product, the market is divided into fire-tube and water-tube. Water boilers generally pass water through the tubes, that are then heated on the exterior by hot gas from the furnace flue gas. Moreover, the heater water then rises into a steam drum, where it can then be reheated by a superheater so as to achieve a higher steam temperature. This superheated steam is a dry gas that is commonly used to drive turbine engines used in thermal power stations.

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While hot water boilers heat water for the commercial or domestic heating purpose and hot water supply. Steam boilers generate steam so as to power turbines for power generation and several other industrial applications.

Water-tube boilers are commonly used in power generation plants which require large amounts of high-pressure steam production. Since there is less water volume, a water-tube boiler could handle steam fluctuations more accurately than a firetube boiler and thereby has better turndown.

Furthermore, growing demand for sustainable heating units along with rapid industrialization will surge the water-tube boiler demand.
Subsequently, several ongoing expansion activities to enhance the production index of refinery will drive installation of industrial boiler units.
Flourishing investments across infrastructure and construction segment will drive the boiler applications in primary metal industry.
Based on technology, the industrial boiler market is divided into condensing and non-condensing. Features like lesser environmental impact along with high efficiency will drive condensing industrial boiler market share.

Based on fuel, the market is segmented into oil, natural gas, coal and others. Among these, low installation cost coupled with competitive oil prices will surge the demand for oil fired industrial boilers.

With respect to capacity, the industrial boilers are bifurcated into different types such as < 10 MMBtu/hr, 10 - 25 MMBtu/hr, 25 - 50 MMBtu/hr, 50 - 75 MMBtu/hr, 75 - 100 MMBtu/hr, 100 - 175 MMBtu/hr, 175 - 250 MMBtu/hr and > 250 MMBtu/hr. Increasing heating demand across small scale industries will drive the < 10 MMBtu/hr industrial boiler market.

Likewise, flourishing food processing sector will surge the 10 - 25 MMBtu/hr industrial boiler market growth. Growing investments across chemical & equipment manufacturing industries is likely to raise the 25 - 50 MMBtu/hr industrial boiler market.

Furthermore, the 50 - 75 MMBtu/hr industrial boilers will foresee substantial growth of over 3% during the forecast timeline. Increasing heating applications across facilities like petrochemical, pulp & paper will further fuel the demand for 75 - 100 MMBtu/hr industrial boilers.

Growing investments for expansion of the existing refinery facilities will propel the market growth for 100 - 175 MMBtu/hr industrial boiler.

Based on application, the market is segmented into food processing, refinery, chemical, primary metal, pulp & paper, and others. Among these, the global industrial boiler market from pulp & paper application segment is anticipated to witness a substantial gains of over 2% during the forecast time period.

The market revenue share for industrial boiler throughout chemical sector is set to expand by 25% in 2026.

From a regional frame of reference, flourishing refining and other manufacturing industries are likely to drive the industrial boiler market throughout Middle East & Africa.

Furthermore, owing to increasing investments across food & beverage industry, the Latin America industrial boiler market is expected to further clock in additional revenue growth.

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