openPR Logo
Press release

Industrial Boilers Market Growth Is Attributed To The Increased Use In Power Generation

Industrial Boilers Market Growth Is Attributed To The Increased

According to Precision Business Insights (PBI), the latest report industrial boilers market size was valued at USD 15,261.8 million in 2022 and is poised to grow at a 3.1% CAGR during the forecast period 2023 to 2029. The adoption of stringent environmental regulations to maintain emission standards and carbon reduction in several countries drives the industrial boilers market. Furthermore, the advancement in boiler technology, such as better combustion systems, greater insulation, and increased control and monitoring capabilities has also propelled the market growth. Moreover, the adoption of energy storage capabilities and diverse heat sources, such as biomass, natural gas, and solar, combined with hybrid boiler systems to maximize energy efficiency and lower greenhouse gas emissions has provided opportunities for manufacturers and service providers to expand their presence in the market. Additionally, Industrial boilers are on the rise in demand to support economic growth and satisfy the escalating energy demands of enterprises due to the fast industrialization and urbanization in developing economies.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/industrial-boilers-market

The industrial boiler market is segmented based on fuel, boiler, technology, function, end-user industry, and geography.
Based on the fuel type, the market is segmented into the following:
• Natural gas
• Oil
• Coal
• Others (biomass, nuclear)

Based on the boiler type, the market is segmented into the following:
• Fire-tube
• Water-tube
• Others

Based on the technology, the market is segmented into the following:
• Condensing
• Non-Condensing

Based on the function, the market is segmented into the following:
• Hot water
• Steam

Based on the end-user industry, the market is segmented into the following:
• Chemicals & Petrochemicals
• Metal & mining
• Food
• Paper & pulp
• Power generation
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Power Generation Dominates the Industrial Boilers Market
Based on the end-user industry, the power generation industry is anticipated to show a significant growth rate over the forecasting period. Power plants employ industrial boilers to produce steam, which powers turbines linked to electricity generators. Fossil fuels including coal, natural gas, and oil make up the majority of the energy produced by industrial boilers. Industrial boilers are a dependable and effective way to generate power, which helps to support the world's energy supply. The energy environment is always changing, and adopting cleaner, more sustainable means of electricity generation is becoming more and more important. As a result, trends and policies that support renewable energy sources and low-carbon technology have an impact on the usage of industrial boilers in the production of electricity. For instance, in July 2022, Bosch introduced an electric steam boiler for sustainable steam and heat supply. It is 100% electric and fully carbon neutral. The output ranges from 350 to 7500 kilograms of steam per hour

Request Sample: https://www.precisionbusinessinsights.com/request-sample/?product_id=321125

Asia Pacific Leads Industrial Boilers Market:
Industrial Boilers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for a significant share of the Industrial boilers market. The market is expected to grow at 4.1% CAGR over the forecast years owing to China and India undergoing rapid urbanization, industrialization, and rising demand for power and process heat in numerous sectors. Significant factors in this region included China's extensive manufacturing sector and India's growing emphasis on electricity production and industrial development. North America region is anticipated to grow in the forecasting period owing to the region's emphasis on clean energy projects, energy-saving measures, and the replacement of outdated infrastructure with cutting-edge industrial boilers. Additionally, the region's interest in exploring renewable energy sources, such as solar power, influenced the market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Industrial boilers market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Key player's profiles in the industrial boilers market report are Thermax Ltd., General Electric, Babcock & Wilcox Enterprises, Inc., Andritz AG, Siemens AG, Bharat Heavy Electricals Ltd., Forbes Marshall, Hitachi Ltd., Mitsubishi Heavy Industries, Ltd., Harbin Electric Corporation, Cheema Boilers Limited, IHI Corporation, AC Boilers, and Dongfang Electric Corporation Ltd.

Contact:
Mr. Satya
Precision Business Insights | Toll-Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Industrial Boilers Market Growth Is Attributed To The Increased Use In Power Generation here

News-ID: 3170186 • Views:

More Releases from Precision Business Insights

Gaming Controller Market Rising Demand for Gaming Stations and eSports
Gaming Controller Market Rising Demand for Gaming Stations and eSports
According to the Precision Business Insights (PBI), latest report the gaming controller market size was valued at USD 2,382.1 million in 2023, growing at an 8.5% CAGR from 2024 to 2030. The key drivers of the expansion of the global gaming controller include the enhanced gaming experience, technology advancements, consumer preferences and ergonomics, competitive gaming and esports, intuitiveness, and portability of the gaming controllers. View Full Report: https://www.precisionbusinessinsights.com/market-reports/gaming-controller-market
Next Generation Dietary Supplements Market Size, Growth Opportunities 2024-2030
Next Generation Dietary Supplements Market Size, Growth Opportunities 2024-2030
According to Precision Business Insights (PBI), the latest report, the global next-generation dietary supplements market was valued at USD 10,752.3 million in 2023 and is expected to grow at a CAGR of 8.8% from 2024-2030. The primary factors that drive the market are the growing demand for rising consumer knowledge of the various health benefits of Next Generation Dietary Supplements, as well as rising disposable income levels, fuel market expansion
Catamaran Market Increasing Popularity Of Water Sports And Fishing Activities
Catamaran Market Increasing Popularity Of Water Sports And Fishing Activities
According to Precision Business Insights (PBI), the latest report, the catamaran market is valued at USD 1,635.7 million in 2023 and is anticipated to grow a CAGR of 4.9% over the forecast period. The primary factors that drive the market are the growing demand for Catamaran pushes the market to enhance efficiency, minimize time consumption, and reduce post-harvest operating losses. Catamaran are good solutions for reducing high labour costs since
Refrigerated Display Cases Market Size, Share, Growth Trends and Forecast 2024-2030
Refrigerated Display Cases Market Size, Share, Growth Trends and Forecast 2024-2 …
According to Precision Business Insights (PBI), latest report, the refrigerated display cases market was valued at USD 8,248.5 million in 2023 and is expected to grow at a 5.1% CAGR from 2024 to 2030. The primary drivers of the expansion of the global refrigerated display cases market include the increasing demand for frozen food and drinks among urban consumers. In addition, growing awareness about environment sustainability and energy efficiency is

All 5 Releases


More Releases for Industrial

Global Industrial Uavs Market, Global Industrial Uavs Industry, Global Industria …
The Industrial Uavs market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. The Global Industrial Uavs Market report is a comprehensive research that focuses on the overall consumption structure, development trends, sales models and sales of top countries in the global Industrial Uavs market. The report focuses on well-known providers in the global
RDM Industrial Products - Laboratory and Industrial Furniture Supplier
RDM Industrial Products Inc. is one of the most reputed and leading laboratory and industrial furniture solutions supplier and manufacturer. The company was established in 1977 and has been serving their growing clientele proudly for over 40 years. Their quality products cater to industries including healthcare, electronics, biotechnology, laboratory, industrial and more. The company is based out of California and their shipments are done all across the globe. QUALITY-SERVICE-TIMING are
Industrial Fasteners Market # industrial fasteners and supply # industrial faste …
An insightful study, titled “Global Industrial Fasteners Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). The research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report. Get
Global Industrial PC Market To Reach Us$8,784.2 Mn By 2025: By Type - Panel Indu …
Researchmoz added Most up-to-date research on "Global Industrial PC Market To Reach Us$8,784.2 Mn By 2025: By Type - Panel Industrial PC, Box Industrial PC And Embedded Industrial PC" to its huge collection of research reports. Industrial PC is a ruggedized system designed to perform computing applications for various industries. Industrial PC is a PC-based computing podium mainly used for data acquisition or process control, and in some cases, it is
Industrial Machinery & Industrial Equipment Production Market Research Report
Latest industry research report on: Global and United States Industrial Machinery & Industrial Equipment Production Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts This report studies the Industrial Machinery & Industrial Equipment Production market status and outlook of global and United States, from angles of players, regions, product types and end industries; this report analyzes the top players in global and United States market, and
Industrial PC Market By Type - Panel Industrial PC, Box Industrial PC, Embedded …
Albany, NY, 19th September : Recent research and the current scenario as well as future market potential of "Recent research and the current scenario as well as future market potential of "" globally." globally. Industrial PC is a ruggedized system designed to perform computing applications for various industries. Industrial PC is a PC-based computing podium mainly used for data acquisition or process control, and in some cases, it is simply used