Industrial Boilers Market Business Analysis, Swot Profile, Current Developments, Strategies To Boost Industry Growth

The industrial boilers market is set to grow as industries prioritize energy efficiency and eco-friendly solutions. Demand for high-capacity boilers, coupled with rising investments in clean energy, positions the market for steady expansion, with Asia-Pacific emerging as a leading region.
The global Industrial Boilers market [https://www.marketsandmarkets.com/Market-Reports/industrial-boiler-market-130210505.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=industrialboiler] size is projected to grow from USD 15.3 billion in 2022 to USD 19.8 billion by 2030, at a CAGR of 3.3% during the forecast period. Stringent government regulations to minimize carbon emissions and maximize renewable energy usage, increase power and food industry demand, and use clean technology in the chemical end-use industry drive the industrial boilers market. The rapid industrialization and stringent government regulations concerning carbon emissions from coal-fired boilers fuel the growth of the industrial biomass boilers market. The increasing demand for industrial boilers across various industry verticals and government initiatives to develop large-capacity industrial boilers are spurring market growth.

The food and beverage industry requires a large amount of steam and hot water for various processes such as steam generation, heating & drying, and sanitation. Boilers are used in this industry to generate steam for various applications, such as cooking, cleaning, and sterilization. Moreover, the increasing population, rising disposable income, and changing dietary habits fuel the demand for processed food and beverages, leading to the expansion of food and beverage facilities in different regions. This expansion of the facilities increases the demand for heat and power in the food and beverage industry, resulting in high demand for industrial boilers.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130210505 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130210505&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=industrialboiler]

The industrial boilers market is dominated by major players such as Babcock & Wilcox Enterprises, Inc. (US), Siemens AG (Germany), and John Wood PLC (UK). The threat of new entrants is low due to the significant capital investment & high installation, maintenance cost, and technical expertise required. As the capital required for developing a new production facility and the investment for research & development for manufacturing industrial boilers is markedly high, it is difficult for new players to enter the market.

Babcock & Wilcox Enterprises, Inc.

Babcock & Wilcox (B&W) Enterprises, Inc. offers renewable, thermal, and environmental technologies. The company's diversified energy and emissions control solutions cater to various industrial, electrical utility, municipal, and other customers. Babcock & Wilcox operates through B&W Renewable, B&W Environmental, and B&W Thermal verticals. The company offers industrial boilers under the B&W Thermal segment. The B&W segment is further sub-segmented into retrofits, new build utility and environmental, aftermarket parts and field engineering services, and industrial steam generation. Babcock & Wilcox Enterprises, Inc. has a global presence with manufacturing facilities in Europe, North America, and Asia Pacific.

Siemens AG

Siemens AG is one of the largest industrial manufacturing companies in Europe. The company provides diversified technological solutions for energy, healthcare, industrial automation, infrastructure, and financial sectors. The company has strengthened its position due to its varied business segments, including digital industries, smart infrastructure, siemens, mobility, portfolio companies, and financial services. The company offers industrial boilers under the smart infrastructure segment. Siemens AG has production and manufacturing plants, office buildings, warehouses, research & development facilities, and sales offices in more than 200 countries worldwide.

Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=130210505 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=130210505&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=industrialboiler]

Mitsubishi Hitachi Power Systems Ltd.

Mitsubishi Hitachi Power Systems Ltd. is a joint venture between the thermal power divisions of Mitsubishi Heavy Industries (Japan) and Hitachi Ltd. (Japan). The company is a global leader providing thermal power generation systems and environmental technology. It is involved in the production process, including developing, designing, manufacturing, construction, and after-sales services for thermal power plants. It offers various products, such as steam power plants, geothermal power plants, gas turbines, steam turbines, boilers, air quality control systems, generators, gas turbine combined cycle (GTCC) power plants, and fuel cells. Mitsubishi Hitachi Power Systems Ltd. is a part of the thermal power subsegment of the power systems segment business of Mitsubishi Heavy Industries Ltd.

In terms of value, fire-tube boilers are estimated to be the largest market in the global industrial boilers market, by boiler type, during the forecast period.

Fire-tube boilers are also referred to as shell & tube boilers or smoke tube boilers. Fire-tube boilers are usually preferred for industrial purpose as these boilers are fuel-efficient & and easy to operate. However, other boilers such as Fluidized bed combustion boilers are gaining traction in the market. It has emerged as a viable alternative and has significant advantages over conventional firing systems and offers multiple benefits, including compact boiler design, fuel flexibility, higher combustion efficiency and reduced emission of toxic pollutants such as SOx and NOx.

Natural gas to be the largest market in the global industrial boilers market, by fuel type, during 2022 to 2030.

Natural gas is the best fuel choice for industrial boiler production and accounted for more than quarter of the total market in 2022. Natural gas can be piped directly into the natural gas-fired boilers. These boilers require a relatively small boiler space with a compact and simple design. Natural gas-fired boilers are widely used in western countries due to their easy availability and regulatory guidelines concerning CO2 emissions.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=130210505 [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=130210505&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=industrialboiler]

Steam boilers to be the largest market in the global industrial boilers market, by function type, during 2022 to 2030

The steam boilers segment accounted for more than half of the total market, in terms of value, and is projected to register a CAGR of 3.1%during the forecast period. Steam boilers can be used in power turbines that generate electricity. However, due to the vertical design of the steam boiler, less steam is emitted. Steam boilers are used in various industries, including power, food, and cement.

Europe accounted for second largest region, by value, during the forecast period 2022-2030

Europe accounts for a significant share in terms of consumption in the industrial boilers market. Numerous manufacturers, particularly in the chemical and food end-use industries, influence the demand for industrial boilers. Major sales of chemicals in Europe are in terms of petrochemicals and polymers. Germany is the largest producer of chemicals in Europe. The region has witnessed a rise in government initiatives for implementing clean energy in the industrial sector. Industrial boilers are an efficient and clean energy alternative to help address the energy challenges faced by the region.

About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=industrial-boilers-market-business-analysis-swot-profile-current-developments-strategies-to-boost-industry-growth]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/industrial-boiler-market-130210505.html



This release was published on openPR.