Press release
Global Industrial Boilers Market: Detailed Analysis of Market Growth, Emerging Trends, and Market Size
What Is The Projected Market Size Of The Global Industrial Boilers Market And Its Growth Rate?
• The Industrial Boilers market was valued at $15.26 billion in 2024 is projected to grow at a CAGR of 6.6% to $16.27 billion in 2025.
• The market growth in the historical period was largely influenced by rapid industrialization, energy efficiency regulations, global economic trends, environmental concerns, government incentives, and raw material prices.
• The market is expected to reach up to $21.39 billion by 2029, growing at a CAGR of 7.1%.
• Increasing demand for power generation, stringent emission standards, renewable energy integration, globalization of industries, and investments in infrastructure will be significant growth drivers in the forecast period.
What Is Driving The Growth In The Industrial Boilers Market?
The growth in the Industrial Boilers market is set to be driven largely by the increasing power generation. The demand for industrial boilers is surging with the growing need for power generation and electricity in large-scale power plant installations of industrial burners in boilers. For instance, in 2022, The BRICS countries, specifically China (+9.7%), India (+4.8%), Russia (+6.4%), and Brazil (+9.5%) saw a noticeable increase in electricity consumption, driving the growth in global power generation (+8.5% in 2021). In China, the increase in power generation was majorly attributed to coal, wind, and solar energy. Hence, the increasing power generation is expected to stimulate the growth of the industrial boilers market in the forecasting period.
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Who Are The Key Players Driving Industrial Boilers Market Growth?
• Siemens AG
• Thermax Limited
• Harbin Electric Corporation
• Bharat Heavy Electricals Limited
• General Electric Company
• Dongfang Electric Corporation Ltd.
• Babcock & Wilcox Enterprises Inc.
• IHI Corporation
• Mitsubishi Heavy Industries Ltd.
• Cleaver-Brooks Inc.
What Are The Key Trends In The Industrial Boilers Market?
• Adoption of IoT and automation
• Focus on energy efficiency
• Stringent emission regulations
• Shift towards biomass and renewable fuels
• Customization and modular designs
What Are The Segments Of The Global Industrial Boilers Market?
• By Boiler Type:
- Fire-Tube
- Water-Tube
• By Fuel:
- Natural Gas And Biomass
- Coal
- Oil
- Other Fuels
• By Boiler Horsepower:
- 10-150 BHP
- 51-300 BHP
- 301-600 BHP
• By Applications:
- Chemicals And Petrochemicals
- Paper And Pulp
- Food And Beverages
- Metals And Mining
- Other Applications
Which Region Leads The Industrial Boilers Market?
North America was the largest region in the industrial boilers market in 2024 with the market covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Industrial Boilers Market Global Market Report?
- Market Size Analysis: Analyze the Industrial Boilers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial Boilers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial Boilers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial Boilers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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