Industrial Boilers Market Size, Share, Growth | Forecast 2024-2032

(MENAFN- Meridian Market Consultants) The Reports and Insights, a leading market research company, has recently releases report titled “Industrial Boilers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Industrial Boilers Market Share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Industrial Boilers?

The industrial boiler market size reached US$ 3.4 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 4.6 billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.

What are Industrial Boilers Market?

Industrial boilers are sizeable pressure vessels that produce steam or hot water for diverse industrial operations, including manufacturing, power generation, and heating. They utilize a range of fuels like natural gas, coal, oil, biomass, and waste heat to generate the necessary energy. These boilers play a vital role in industries requiring steam or hot water for their production processes, offering a dependable and efficient heat source. They are available in various types, such as firetube boilers, water tube boilers, and electric boilers, tailored to different applications and industries.

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What are the growth prospects and trends in the Industrial Boilers Market industry?

The industrial boilers market growth is driven by various factors. The industrial boilers market is propelled by several factors, including the increasing demand for energy-efficient and eco-friendly heating solutions, strict emissions regulations, and the rapid industrialization and urban development in emerging markets. These boilers are crucial for industries such as food processing, chemicals, and refineries, where they are used for steam and hot water production. The market is seeing a transition towards cleaner fuels like natural gas and biomass, as well as the adoption of advanced technologies such as condensing boilers and integrated control systems. However, challenges such as high initial costs and the availability of alternative heating technologies may impede market growth. Hence, all these factors contribute to industrial boilers market growth

What is included in market segmentation?

The report has segmented the market into the following categories:

1. By Fuel

Natural gas
Oil
Coal

2. By Boiler

Fire-Tube
Water-Tube

3. By Function

Hot-Water
Steam

4. By Boiler Horsepower

10-150 BHP
151-300 BHP
301-600 BHP

5. North America

United States
Canada

6. Europe

Germany
United Kingdom
France
Italy
Spain
Russia
Poland
Benelux
Nordic
Rest of Europe

7. Asia Pacific

China
Japan
India
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific

8. Latin America

Brazil
Mexico
Argentina

9. Middle East & Africa

Saudi Arabia
South Africa
United Arab Emirates
Israel
Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

1. Thermax Ltd.
2. Siemens AG
3. Bharat Heavy Electricals Ltd.
4. Forbes Marshall
5. Mitsubishi Heavy Industries, Ltd.
6. Harbin Electric Corporation
7. Cheema Boilers Limited
8. IHI Corporation
9. AC Boilers
10. Dongfang Electric Corporation Ltd.

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