Boiler Market Prominent Key Players, Current Demand Analysis, Global Industry Outlook and Future Scope till 2029

The Global Boiler Market, valued at USD 16.37 billion in 2022, is set to experience a significant growth trajectory, with projected revenues expected to reach nearly USD 24.45 billion by 2029, showcasing a compound annual growth rate (CAGR) of 5.9% over the forecast period from 2023 to 2029.

Report Scope and Methodology:

Report Scope:
The Boiler Market Report delves into the dynamics, drivers, restraints, and regional insights that shape the landscape of this crucial industry. It examines market values, emphasizing the crucial factors influencing its growth and evolution.

Research Methodology:
This report is based on rigorous research methodologies, offering an in-depth analysis of the global Boiler Market. Our research approach combines extensive data collection and thorough analysis to provide comprehensive insights into this market.

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What are Boiler Market Dynamics ?

Drivers:

Growing Demand for Steam Boilers in Food and Beverage Industries: The food processing industry is witnessing rapid growth, making it a vital consumer of steam boilers. These boilers are instrumental in cooking, sanitizing, processing, and packaging within this industry. The need for uninterrupted operations, however, leads to reduced energy efficiency and increased fuel consumption.

High Cost of Fuel and Scarcity of Natural Resources: The diversity of fuels used in boilers presents challenges, with the world facing short-term shortages of clean fuels that comply with environmental regulations. The long-term issue revolves around the depletion of petroleum and natural gas reserves. Escalating energy costs and decreased competitiveness in industries further hinder market growth.

Restraints:
Price fluctuations and the scarcity of natural resources are among the major factors restraining market growth.

What is Boiler Market Segmentation ?

by Boiler Horsepower

1. 10-150 BHP
2. 151-300 BHP
3. 301-600 BHP

The sector's need for high-quality steam for various chemical processes, including petrochemicals, industrial gases, and more, is a key contributor to its growth
by End-Use Industry

1. Chemical
2. Food
3. Refineries
4. Metals & Mining
5. Others

By end-use industry, the chemicals sector led the Boiler market with a market share of approximately 38.45% in 2022. It is expected to maintain this dominance throughout the forecast period, exhibiting the highest CAGR of 5.4%.

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Who are Boiler Market Key Players?

1. A.O. Smith (US)
2. Parker Boiler (US)
3. Cleaver-Brooks, Inc. (US)
4. Thermax Inc (US)
5. Weil-McLain (US)
6. Fulton Boiler Works, Inc. (US)
7. General Electric (US)
8. Babcock & Wilcox Enterprises, Inc. (US)
9. BURNHAM COMMERCIAL BOILERS (US)
10. Hurst Boiler & Welding Co, Inc. (US)
11. Bryan Steam LLC (US)
12. Superior Boiler (US)
13. Vapor Power International LLC (US)
14. Siemens AG (Germany)
15. Cochran Ltd (UK)
16. John Wood Group plc (UK)
17. Vattenfall AB (Sweden)
18. Alfa Laval AB (Sweden)
19. Sofinter S.p.a (Iatly)
20. ANDRITZ AG (Austria)
21. ABB Ltd (Switzerland)

Table of content for the Boiler Market includes:

Part 01: Executive Summary

Part 02: Scope of the Boiler Market Report

Part 03: Boiler Market Landscape

Part 04: Boiler Market Sizing

Part 05: Boiler Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Boiler Market Regional Insights:

Asia-Pacific: Dominated the market in 2022, driven by increasing industrialization and the rising consumption of processed foods in countries like China, India, and Japan. Ongoing government initiatives to attract foreign investments are bolstering industrial boiler demand.

India: Expected to experience rapid growth due to industrialization across various sectors, such as automotive, oil and gas, and renewable energy, as well as the booming e-commerce industry.

Europe: Accounted for around 31% of the market share in 2022, with a CAGR of 4.1% during the forecast period. Stringent environmental regulations and a focus on sustainability have accelerated the growth of the European industrial boilers market.

Central and South America: Anticipated to grow at a CAGR of 3.5% due to increasing industrialization and a burgeoning food and beverage industry, notably in Brazil.

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