Industrial boiler is also known as steam generator. Industrial boiler is a device used to create steam by applying heat energy to water. Rising demand for industrial boilers, owing to increasing efforts of the government towards reduces carbon foot printing and rising investment towards energy-efficient manufacturing is factor expected to drive growth of the global industrial boilers market over the forecast period. In addition, growing demand for industrial boilers, owing to increasing adoption from various industry verticals such as food, chemical, refining, and metals and mining is another factor expected to propel growth of the industrial boilers market in the near future. However, high installation cost is a major factor expected to hamper growth of the target market in the near future.
The global industrial boilers market has been segmented on the basis of type, fuel type, boiler horsepower, end-use industry, and region. On the basis of type, the target market is segmented into water-tube and fire-tube. Fire-tube segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period, owing to compact design and efficient operation of fire-tube boilers. On the basis of fuel type global industrial boilers market is segmented into natural gas and biomass, oil, and coal. On the basis of boiler horsepower target market is segmented as 10-150 BHP, 151-300 BHP, and 301-600 BHP. On the basis of end-use industry, the global industrial boilers market is segmented into food, metals and mining, chemical, and refineries.
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Based upon region, the global industrial boilers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in Asia Pacific is estimated to be highest share in terms of revenue, owing to rising demand of industrial boilers from food sector due to growing demand of processed health food, in the region.
Key players operating in the global industrial boilers market include Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation, Siemens Corporation, General Electric Company, AC Boilers S.p.A., Bharat Heavy Electricals Limited, Harbin Electric Corporation, IHI Corporation, Mitsubishi Hitachi Power Systems Ltd., and Thermax Limited.