Water Tube Industrial Boiler Market Report
Water Tube Industrial Boiler Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028 See less
Water Tube Industrial Boiler Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
Water Tube Industrial Boiler Market is Segmented by Capacity Type (<10 MMBtu/hr, 10-25 MMBtu/hr, 25-50 MMBtu/hr, 50-75 MMBtu/hr, 75-100 MMBtu/hr, 100-175 MMBtu/hr, 175-250 MMBtu/hr, and >250 MMBtu/hr), by Application Type (Food Processing, Pulp & Paper, Chemical, Refinery, Primary Metal, and Other Manufacturing), by Technology Type (Condensing and Non-Condensing), by Fuel Type (Natural Gas, Oil, Coal, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
A boiler that runs on fuel such as coal, biomass, natural gas, or oil is known as an industrial boiler. Industrial boilers use pipe networks to perform the tasks of heating or evaporating the water they contain and transferring it to users. Due to their simplicity of use, small design, and improved efficiency, industrial boilers are utilised in a variety of industries, including textiles and food and beverage production. The industrial boiler market is anticipated to increase globally as a result of these major driving factors.
The rising demand from the food and beverage and petrochemical industries is what is driving the global market for industrial boilers. Global demand for industrial boilers is mostly being driven by the rising industrialization and strict regulatory laws relating to dangerous emissions. In the upcoming years, it is anticipated that increasing use of industrial boilers across a range of industries, including mining, food & beverage, and chemical, will promote market expansion. To meet the demand for food and drink, textiles, and consumer products, manufacturers are prompted by increased disposable income and a growing population to build new factories. Overall, the water tube industrial boiler market is likely to grow at a healthy CAGR of 4.2% during the forecast period.
The market is segmented as <10 MMBtu/hr, 10-25 MMBtu/hr, 25-50 MMBtu/hr, 50-75 MMBtu/hr, 75-100 MMBtu/hr, 100-175 MMBtu/hr, 175-250 MMBtu/hr, and >250 MMBtu/hr. The <10 MMBtu/hr segment is expected to remain the largest and the fastest-growing capacity type in the market during the forecast period. The market for boilers that produce 10 MMBtu/hr is expected to rise by more than 4%. Energy-efficient heating systems have been implemented as a result of strict regulations to reduce carbon emissions and attempts to optimise energy use across manufacturing plants. The market for low-capacity boilers will also be fuelled by the recovery of the commercial and industrial sectors, the worldwide recession of 2008, and the rising need for space heating boilers. The majority of industrial facilities, such as primary metal manufacture, the paper & pulp sector, and refineries, install boilers that produce 100-250 MMBtu/hr. The Middle East and Africa's expanding manufacturing sectors, together with Asia Pacific's rapid industrialisation, will influence the industry landscape.
The market is segmented as food processing, pulp & paper, chemical, refinery, primary metal, and other manufacturing. Food processing is expected to remain the dominant as well as the fastest-growing application type in the market during the forecast period. The need for processed food will increase as consumer lifestyles change and dietary preferences shift toward high value-added meals, which, in turn, will drive the installation of these steam-producing units. The expansion of refining units along with a positive outlook for the chemical industries will fuel the market for water tube industrial boilers. The industry's growth is linked to rising per capita income in developing economies, which has significantly increased the addition of refining capacity. The need for large industrial boilers will increase as refineries throughout the world concentrate on increasing capacity and efficiency.
The market is segmented as condensing and non-condensing. Condensing is expected to remain the dominant as well as the faster-growing technology type in the market during the forecast period. Product deployment is preferred over other options because of factors including lower heating costs, higher efficiency, and lower environmental pollution. The industry's expansion will also be fuelled by continued government pushes to embrace low emission technology. Over the years, non-condensing boilers have significantly penetrated a variety of industrial sectors, including metal manufacturing, chemical, food processing, and refining. The main characteristics that will increase the demand for the product are its low price, ease of installation, and capacity to tolerate extreme temperature variations.
North America is expected to remain the largest market for water tube industrial boilers during the forecast period due to rising investments in industrial facility expansion and the replacement of conventional heating units; the market for water tube industrial boilers in the United States will expand. Government initiatives targeted at maximising the nation's manufacturing capabilities along with significant expansion in refining capacity to meet the rising demand for petroleum products will further encourage industrial growth. The market for industrial water tube boilers in Europe will expand significantly as a result of favourable legislative conditions and increased investments in the commercial and industrial sectors. The implementation of strict standards and regulations for reducing carbon emissions, coupled with the replacement, and retrofitting of existing heating systems, will promote industry growth. The business environment will be further supported by the replacement of old boilers in order to fulfil pollution regulations.
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the water tube industrial boiler market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s water tube industrial boiler market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both 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:
Water Tube Industrial Boiler Market, by Capacity Type
Water Tube Industrial Boiler Market, by Material Type
Water Tube Industrial Boiler Market, by Technology Type
Water Tube Industrial Boiler Market, by Fuel Type
Water Tube Industrial Boiler Market, by Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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The water tube industrial boiler market is estimated to grow at a CAGR of 4.2% by 2028, driven by the rising demand from the food and beverage and petrochemical industries.
Clayton Industries, Babcock and Wilcox Enterprises, Inc.., Fulton Boiler Works, Inc. SA, IHI Corporation, Bharat Heavy Electricals Limited, and Cleaver-Brooks, Inc. are the leading players in the water tube industrial boiler market.
North America is estimated to remain dominant in the water tube industrial boiler market in the foreseen future due to rising investments in industrial facility expansion and the replacement of conventional heating units.
Food processing is estimated to remain dominant in the water tube industrial boiler market in the foreseeable future as the need for processed food will increase as consumer lifestyles change and dietary preferences shift toward high value-added meals, which in turn, will drive the installation of steam-producing units.
Condensing is expected to remain the dominant as well as the faster-growing technology type in the market during the forecast period. Product deployment is preferred over other options because of factors including lower heating costs, higher efficiency, and lower environmental pollution.