Global Industrial Boilers Market Segments 2024, Forecast To 2033
5 Mar, 2024
The industrial boilers market has shown strong growth, increasing from $14.38 billion in 2023 to $15.37 billion in 2024, with a 6.9% CAGR. Historic growth is attributed to rapid industrialization, energy efficiency regulations, global economic trends, environmental concerns, government incentives, and raw material prices. The market is expected to see strong growth, reaching $20 billion in 2028, with a 6.8% CAGR. Forecasted growth is driven by power generation demand, stringent emission standards, renewable energy integration, globalization of industries, and infrastructure investments. Major trends in 2028 include IoT and automation adoption, energy efficiency focus, stringent emission regulations, biomass and renewable fuels shift, and customization and modular designs.
Global Industrial Boilers Market Key Driver
The industrial boilers market is set to grow with increasing power generation. The growth is fueled by a noticeable increase in electricity consumption, particularly in BRICS countries. The surge in power generation, especially from coal, wind, and solar energy, stimulates the demand for industrial boilers, supporting market growth.
Get A Free Sample Of The Global Industrial Boilers Market ReportGlobal Industrial Boilers Market Segments
The industrial boilers market 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
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the industrial boilers market in 2023. The regions covered in the industrial boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Industrial Boilers Industry Players
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; Harbin Electric Co. Ltd; Lennox; Baxi; Fulton; Worcester Bosch; Ideal Boilers; IBurnham Commercial
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AIOps Industrial Boilers Market Overview
Industrial boilers refer to the closed vessels that heat water or create steam for industrial heating and humidification purposes using a fuel source or electricity. It generates steam or heats water for space and process heating for the generation of mechanical power and electricity.
Industrial Boilers Global Market Report 2023 provides data on the global industrial boilers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial boilers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.