Advanced Industrial Boilers Propelling Market Growth with a 5% CAGR, says Market.us

Boilers have been widely used in the industrial sector in recent years to provide thermal heating for a variety of uses, including water heating, boiler-based power generation, central heating, and many more.

A closed vessel, such as an industrial boiler, enables the liquid to heat up to a set temperature. These boiler systems’ use of thick steel plates during welding enables them to produce pressures of 30 bar and higher. In general, the various applications determine the pressure inside an industrial boiler.

According to the latest report by Market.us,” The industrial boilers market was valued at USD 14.28 billion in 2021 and is anticipated to increase to USD 20.09 billion between 2022 and 2028 at a compound annual growth rate (CAGR) of 5.0%.”

The world market is anticipated to be driven during the projected period by rapid industrialization and the expanding food and beverage sector. Furthermore, the adoption of these systems will increase the need for industrial boilers in the upcoming years due to strict legislation regulating harmful emissions in the environment.

Anurag Sharma, a senior research analyst at Market.us, said, “The need for industrial boilers is anticipated to rise in the corresponding industries. With the expansion of power plants across the globe, the market is expanding since an industrial boiler is crucial to the creation of energy.”

Industrial boiler demand is rising due to their high energy absorption and adaptable transportability.

Several sectors, including those that deal with food and drink, including breweries, building materials, wood, paper, chemical, oil & gas, and the automobile, among others, can employ industrial boilers. Industrial boiler producers are focusing on creating huge boilers to give the end user additional capacity.

The industrial boiler market trends will be boosted by stringent government regulations to reduce greenhouse gas emissions (GHGs), extreme weather patterns, and continuous investments in economic growth. The development of the industry will be sped up by a favorable view toward industrial buildings and the expanding demand for heating systems. The commercial picture will also improve as a result of increasing industrialization and the introduction of effective steam generation systems.

These companies have concentrated on tactics including contracts, agreements, expansions, acquisitions, partnerships, and the creation of new products, which have assisted them in growing their operations in untapped and promising markets. To strengthen their current positions in the industrial boilers industry, they have also been using a variety of organic and inorganic growth tactics, such as contracts, new product innovations, acquisitions, and expansions.

Bosch Industriekessel GmbH provides heating boilers with a 19.4 MW capacity as well as hot water boilers with a range of up to 37 MW. Among the businesses that Bosch Industriekessel supplies its goods to are Nestle, Coca-Cola, Red Bull, Daimler, and many more.
To help the Chinese market’s commercial expansion, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. received an order for 200 boilers in December 2017.

Mitsubishi Hitachi Power Systems, Ltd. and CEPC signed a contract in May 2017 for an Egypt rehabilitation project. The industrial boilers market is anticipated to develop at the greatest rate during the forecast period in Asia Pacific.

The market for industrial boilers is anticipated to expand at the greatest CAGR between 2022 and 2028 in the Asia Pacific region. The strong need for industrial boilers in nations like China, India, and Japan to meet the escalating demand for thermal energy across end-use sectors should be credited with growth.