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Industrial Boilers Market | Covid-19 Impact Analysis
The Industrial Boilers Market is Segmented by Boiler Type (Fire-tube, Water-tube), by Fuel Type (Natural Gas & Biomass, Oil, Coal, and Others), ), by End-Use Industry Type (Chemical, Food, Refineries, Metals & Mining, and Others), by Boiler Horsepower Type (10-150 BHP, 151-300 BHP, and 301-600 BHP),), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Industrial Boilers market is likely to witness an impressive CAGR of 5.9% during the forecast period. The prime factor contributing to the demand for industrial boilers is mainly the rapid growth in industrial sector along with the increasing demand for eco-friendly boilers in compliance with stringent emission regulations.
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Industrial Boilers Market - Snapshot |
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Growth |
5.9% for the next five year |
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Major Boiler Type |
Fire-tube |
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Dominant Fuel Type |
Natural Gas & Biomass |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation, Siemens AG, General Electric Company, Amec Foster Wheeler plc, Bharat Heavy Electricals Limited, Harbin Electric Corporation, IHI Corporation, Mitsubishi Hitachi Power Systems, Ltd., and Thermax Limited. |
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Based on the boiler type, the market is segmented as fire-tube and water-tube. The fire-tube boiler type segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The wide use of fire-tube boilers due to their compact design and higher efficiency in operation is driving the growth of the segment.
Based on the fuel type, the industrial boilers market is segmented as natural gas & biomass, oil, coal, and others. The natural gas & biomass segment dominates the market, as natural gas-powered industrial boilers are widely used in various end-use industries such as chemical, food, and metals & mining industries. Incessant replacement of non-renewable fuel, coal; with a renewable fuel, natural gas; is likely to drive the natural gas & biomass segment of the market during the forecast period.
Based on the end-use industry type, the industrial boilers market is segmented as chemical, food, refineries, metals & mining, and others. The chemical industry segment dominates the market, whereas the food industry is expected to grow at the highest CAGR in the market during the forecast period. Increasing expansions by the food & beverage and chemical industries is fueling high growth in the market over the coming years.
Based on the boiler horsepower type, the industrial boilers market is segmented as 10-150 BHP, 151-300 BHP, and 301-600 BHP. The 10-150 BHP segment dominates the market, as they are extensively used in most of the end-use industries.
In terms of regions, Asia-Pacific is expected to be the dominant as well as fastest-growing region in the market in the coming five years. The highest growth of the region is attributed to rapid industrialization in the region’s emerging economies such as India and China. Increasing number of refineries among the various countries of the region is boosting the demand for industrial boilers in the Asia-Pacific region.
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Some of the major industrial boiler manufacturers are-
Industrial boilers are closed vessels in which a fuel (natural gas & biomass or oil or coal, etc.) is used to heat water or to generate steam for industrial heating and humidification applications.
Industrial boilers can be classified on the basis of method of heat exchange; fire-tube boilers feed hot gases as a heat source through tubes, whereas water-tube boilers feed water through tubes and the water gets heated from the heating elements surrounding the tubes.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Industrial Boilers Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
13 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The industrial boilers market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The industrial boilers market is expected to witness an impressive growth of 5.9% CAGR in the foreseeable future.
Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation, Siemens AG, General Electric Company, Amec Foster Wheeler plc, Bharat Heavy Electricals Limited, Harbin Electric Corporation, IHI Corporation, Mitsubishi Hitachi Power Systems, Ltd., and Thermax Limited are among the key players in the Industrial Boilers Market.
Asia-pacific is expected to be the fastest growing industrial boilers market during the next five years.
The fire tube boiler type segment is expected to remain dominant in the industrial boilers market in the coming years.
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