Outlook on the Worldwide Industrial Boilers Market to 2025 - Players Profiled Include GE Power, Siemens AG and John Wood Group Among Others - ResearchAndMarkets.com

The "Industrial Boilers Market by Fuel Type (Natural Gas & Biomass, Oil, Coal), Boiler Type (Fire-Tube, Water-Tube), Boiler Horsepower, End-Use Industry (Chemical, Food, Refineries, Metals & Mining), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The industrial boilers market is estimated at USD 14.6 billion in 2020 and is projected to reach USD 19.3 billion by 2025, at a CAGR of 5.7% during the forecast period.

Natural gas & biomass is projected to be the fastest-growing fuel type segment in the industrial boilers market during the forecast period. Natural gas & biomass-fired boilers can either be fueled by natural gas or biomass with modifications accounting for the different characteristics of the fuels. Natural gas-fired boilers are most commonly used in western countries because of their easy availability and regulatory guidelines with respect to CO2 emissions. With increasingly stringent environmental regulations in developed countries, the natural gas & biomass segment is expected to grow at a rapid pace during the forecast period.

The chemical segment is projected to lead the industrial boilers market

The chemical segment is the largest end-use industry in the market, owing to a large number of installations across the industry. Industrial boilers in the chemical industry are primarily used to provide large quantities of high-quality, high-temperature steam for production processes. Major sectors in the chemical industry that require heat energy and power include petrochemicals, industrial gases, alkali and chlorine, synthetic rubber, synthetic organic fibers, and agricultural chemicals (fertilizers and pesticides).

10-150 BHP segment is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025

The 10-150 BHP is projected to be the fastest-growing boiler horsepower segment in the industrial boilers market during the forecast period. Industrial boilers ranging from 10 BHP to 150 BHP are small size boilers in terms of capacity. These boilers are commonly installed across end-use industries for steam and hot water applications. They are majorly available in standard designs according to their sizes, and there are very low customizations in these boilers. This range of boilers are very easy to install and are the highest manufactured industrial boilers around the world.

Based on the region, Asia Pacific is projected to grow at the highest CAGR in the industrial boilers market between 2020 and 2025

The industrial boilers market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China accounted for the major share of the global industrial boilers market in 2019, which is driving the growth of the Asia Pacific region. China, India, and Japan are expected to be lucrative markets for industrial boilers in the Asia Pacific region during the forecast period. Growth can be attributed to the increasing demand for industrial boilers from the region's chemical, food, refineries, metals & mining, among other end-use industries, particularly in China and India, which are witnessing rapid industrialization.

Market Dynamics

Drivers

  • Rising Demand for Industrial Boilers From the Food & Beverage Industry
  • High Demand for Clean Technology in the Chemical End-Use Industry
  • Increasing Demand for Electricity

Restraints

  • Significant Capital Investment and High Cost of Installation

Opportunities

  • Aging Power Generation Infrastructure
  • Increasing Use of Natural Gas
  • Increasing Demand for Compact Designs and Lean Operations

Challenges

  • Boiler Efficiency and Steam Quality
  • Strict Emission Standards

Companies Profiled

  • Babcock & Wilcox Enterprises, Inc.
  • GE Power
  • Siemens AG
  • John Wood Group PLC
  • Dongfang Electric Corporation Limited (Dec LTD.)
  • Mitsubishi Hitachi Power Systems, LTD.
  • Thermax Limited
  • Sofinter Group
  • Bharat Heavy Electricals Limited (BHEL)
  • Harbin Electric Company Limited
  • IHI Corporation
  • Alfa Laval AB
  • Andritz AG
  • Robert Bosch GmbH
  • Cleaver-Brooks, Inc.
  • Byworth Boilers Limited
  • AB&CO Group
  • Bryan Steam LLC
  • Cochran LTD
  • Forbes Marshall Private Limited
  • The Fulton Companies
  • Vapor Power International, LLC
  • Superior Boiler Works Inc.
  • Hurst Boiler & Welding Company, Inc.
  • Johnston Boiler Company
  • Parker Boiler Company
  • Rentech Boiler Systems, Inc.
  • Suzhou Hailu Heavy Industry Co. LTD.

For more information about this report visit https://www.researchandmarkets.com/r/bhp7cm

View source version on businesswire.com: https://www.businesswire.com/news/home/20200326005471/en/

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