Press release
Increasing Power Generation Is Driving The Industrial Burner Market: The Driving Engine Behind Industrial Boilers Market Evolution in 2025
Industrial Boilers Market
Industrial Boilers Market Size Growth Forecast: What to Expect by 2025?
In recent times, the industrial boilers market has seen significant growth. The market, valued at $15.26 billion in 2024, is estimated to increase to $16.13 billion by 2025, with a compound annual growth rate (CAGR) of 5.7%. Factors contributing to this growth during the historic period include rapid industrialization, policies for energy efficiency, worldwide economic trends, environmental considerations, government incentives, and raw material costs.
How Will the Industrial Boilers Market Size Evolve and Grow by 2029?
The scale of the industrial boilers market is poised for substantial expansion in the forthcoming years. Projected to reach a value of $20.99 billion by 2029, the market promises a compound annual growth rate (CAGR) of 6.8%. The acceleration in market size during the forecast period is linked to rising demand for power generation, rigorous emission rules, the induction of renewable energy, industrial globalization and infrastructure investments. The market trends to look out for during this epoch involve the incorporation of IoT and automation, emphasis on energy efficiency, severe emission directives, a transition to biomass and renewable fuels as well as customization in modular designs.
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What Drivers Are Propelling the Growth of Industrial Boilers Market Forward?
The proliferation of power generation is projected to propel the Industrial boilers market in the future. The primary factor for the growing market of industrial boilers is the elevated power generation and electricity used largely in power plant installations of industrial burners within boilers. For instance, as reported in 2022 by world energy & climate statistics, an application that offers updated statistics, regional data, and related information, the BRICS nations, especially China (+9.7%), India (+4.8%), Russia (+6.4%), and Brazil (+9.5%), witnessed a considerable surge in electricity consumption. This increase was a significant contributor to the global power generation growth, which was registered at +8.5% in 2021. China's increase in power generation was primarily fueled by coal, alongside wind and solar energy. Hence, the escalation in power generation is set to boost the Industrial boilers market during the forecast period.
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What Long-Term Trends Will Define the Future of the Industrial Boilers Market?
Major firms in the industrial boilers market are concentrating on creating innovative high-efficiency industrial electric boiler technologies to increase energy performance, diminish carbon emissions, and bolster operational adaptability. These high-efficiency industrial electric boilers are engineered to transform electrical energy into thermal energy with a superior energy efficiency score, usually more than 98%. For instance, Babcock Wanson, a British firm that produces industrial boilers, introduced a new series of high-efficiency industrial electric boilers in August 2022. The goal of this new series is to boost energy efficiency and minimize environmental harm in industrial settings. The new electric boilers are designed to function at higher efficiency levels than their conventional counterparts, leading to significant energy savings for users.
What Are the Key Segments in the Industrial Boilers Market?
The industrial boilersmarket covered in this report is segmented -
1) By Boiler Type: Fire-Tube, Water-Tube
2) By Fuel: Natural Gas And Biomass, Coal, Oil, Other Fuels
3) By Boiler Horsepower: 10-150 BHP, 51-300 BHP, 301-600 BHP
4) By Applications: Chemicals And Petrochemicals, Paper And Pulp, Food And Beverages, Metals And Mining, Other Applications
Subsegments:
1) By Fire-Tube: Horizontal Fire-Tube Boilers, Vertical Fire-Tube Boilers, Packaged Fire-Tube Boilers
2) By Water-Tube: Industrial Water-Tube Boilers, Supercritical Water-Tube Boilers, High-Pressure Water-Tube Boilers
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Who Are the Key Players Shaping the Industrial Boilers Market's Competitive Landscape?
Major companies operating in the industrial boilers market include 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., John Wood Group Plc., Doosan Heavy Industries & Construction Co. Ltd., Forbes Marshall Pvt. Ltd., Sofinter SPA, AC Boilers S.P.A, Alfa Laval AB, Bosch Industriekessel GmbH, Hurst Boiler & Welding Company Inc., Miura Co. Ltd., Zhengzhou Boiler (Group) Co. Ltd., Mitsui & Co Ltd, ABB Ltd, Viessmann Boilers, Fulton, Worcester Bosch, IBurnham Commercial
What Geographic Markets Are Powering Growth in the Industrial Boilers Market?
North America was the largest region in the industrial boilers market in 2024. The regions covered in the industrial boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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