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Industrial Boilers Market Size, Share & Trends Analysis Report By Application (Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages), By Fuel, By Region, And Segment Forecasts, 2020 - 2027

December 2020 | 150 pages | ID: IB1404F0EC90EN
Grand View Research, Inc.

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Industrial Boilers Market Growth & Trends

The global industrial boilers market size is anticipated to reach USD 18.8 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.5% from 2020 to 2027. Expansion of existing refineries, growing replacement of conventional heating systems with energy-efficient systems, and increasing government initiatives towards the expansion of key economic sectors are anticipated to surge the product demand over the forecast period.

The International Energy Agency estimates that over the next 10 years, 85.0% of the growth in the global oil production will come from the U.S. Boilers are one of the most fundamental systems of a refinery. Some refineries purchase steam to meet the steam requirements of their processes and the rest have dedicated on-site boilers in order to meet their steam needs.

Despite the decrease in the number of paper mills across the globe, a significant number of companies, such as U.S. Group Verso Corporation, are investing in restructuring paper mills by incorporating new energy-efficient and pollution-reducing equipment to meet the environmental and sustainability goals, which is expected to boost the market growth over the coming years.

Southeast Asia has become the world’s fifth-largest manufacturing economy as it offers low-cost production, thereby attracting a wide range of investors. Vietnam has made great strides as a manufacturing hub and the sector now accounts for 25% of the country’s GDP. An increase in the construction of new manufacturing sites in Southeast Asia is expected to create opportunities for industrial boiler manufacturers over the forecast period.

Industrial Boilers Market Report Highlights
  • In terms of value, the oil and gas segment is anticipated to reach USD 7.8 billion by 2027, on account of its low energy density, low costs, and ease of availability
  • Industrial boilers running on fossil fuels are expected to lose their market share as they emit a high amount of natural gases including carbon monoxide
  • The demand for industrial boilers in the chemicals and petrochemicals industry is on the rise, owing to the increase in investments in the Southeast Asian countries. As a result, the segment is expected to witness a CAGR of 3.6% over the forecast period
  • In Europe, the market accounted for the largest revenue share in 2019 and is anticipated to witness a CAGR of 3.4% over the forecast period on account of the stringent government norms to reduce carbon emissions in countries such as Germany, the U.K., Italy, and France
  • Companies in the market are establishing their manufacturing facilities in countries such as China, India, Vietnam, and Malaysia in order cater to the growing product demand in the region as well as cut down the production and logistics costs
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
  1.3.1. Purchased Database
  1.3.2. GVR’s Internal Database
  1.3.3. Secondary Sources & Third-Party Perspectives
  1.3.4. Primary Research
1.4. Information Analysis
  1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights

CHAPTER 3. MARKET VARIABLES, TRENDS, AND SCOPE

3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
  3.3.1. Raw Material Analysis
  3.3.2. Sales Channel Analysis
3.4. Regulatory Framework
3.5. Technology Overview
3.6. Market Dynamics
  3.6.1. Market Driver Analysis
  3.6.2. Market Restraint Analysis
  3.6.3. Industry Challenges
3.7. Business Environmental Tools Analysis: Industrial Boilers Market
  3.7.1. Porter’s Five Forces Analysis
    3.7.1.1. Bargaining Power of Suppliers
    3.7.1.2. Bargaining Power of Buyers
    3.7.1.3. Threat of Substitutes
    3.7.1.4. Threat of New Entrants
    3.7.1.5. Competitive Rivalry
  3.7.2. PESTLE Analysis
    3.7.2.1. Political Landscape
    3.7.2.2. Economic Landscape
    3.7.2.3. Social Landscape
    3.7.2.4. Technology Landscape
    3.7.2.5. Environmental Landscape
    3.7.2.6. Legal Landscape

CHAPTER 4. COVID-19: IMPACT ANALYSIS

CHAPTER 5. INDUSTRIAL BOILERS MARKET: FUEL ESTIMATES & TREND ANALYSIS

5.1. Industrial Boilers Market: Fuel Type Movement Analysis, 2019 & 2027
5.2. Oil & Gas
  5.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
5.3. Fossil
  5.3.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
5.4. Non-Fossil
  5.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
5.5. Biomass
  5.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)

CHAPTER 6. INDUSTRIAL BOILERS MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

6.1. Industrial Boilers Market: Application Movement Analysis, 2019 & 2027
6.2. Chemicals & Petrochemicals
  6.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
6.3. Paper & Pulp
  6.3.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
6.4. Food & Beverage
  6.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
6.5. Metals & Mining
  6.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
6.6. Others
  6.6.1. Market estimates and forecasts, 2016 - 2027 (USD Million)

CHAPTER 7. INDUSTRIAL BOILERS MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

7.1. Industrial Boilers Market: Regional Movement Analysis, 2019 & 2027
7.2. North America
  7.2.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
  7.2.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
  7.2.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.2.4. U.S.
    7.2.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.2.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.2.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.2.5. Canada
    7.2.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.2.5.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.2.5.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
7.3. Europe
  7.3.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
  7.3.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
  7.3.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.3.4. Russia
    7.3.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.3.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.3.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.3.5. U.K.
    7.3.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.3.5.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.3.5.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.3.6. Italy
    7.3.6.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.3.6.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.3.6.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.3.7. France
    7.3.7.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.3.7.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.3.7.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.3.8. Spain
    7.3.8.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.3.8.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.3.8.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
7.4. Asia Pacific
  7.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
  7.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
  7.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.4.4. China
    7.4.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.4.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.4.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.4.5. India
    7.4.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.4.5.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.4.5.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.4.6. Japan
    7.4.6.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.4.6.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.4.6.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.4.7. South Korea
    7.4.7.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.4.7.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.4.7.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
7.5. Central & South America
  7.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
  7.5.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
  7.5.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.5.4. Brazil
    7.5.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.5.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.5.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
7.6. Middle East & Africa
  7.6.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
  7.6.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
  7.6.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.6.4. UAE
    7.6.4.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.6.4.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.6.4.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)
  7.6.5. Saudi Arabia
    7.6.5.1. Market estimates and forecasts, 2016 - 2027 (USD Million)
    7.6.5.2. Market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
    7.6.5.3. Market estimates and forecasts, by application, 2016 - 2027 (USD Million)

CHAPTER 8. COMPETITIVE LANDSCAPE

8.1. Key Global Players, Their Initiatives, & Its Impact on the Market
8.2. Key Company/Competition Categorization
8.3. Vendor Landscape
8.4. Public Companies
  8.4.1. SWOT Analysis
8.5. Private Companies
  8.5.1. List of Emerging Players

CHAPTER 9. COMPANY PROFILES

9.1. Thermax Ltd.
  9.1.1. Company Overview
  9.1.2. Financial Performance
  9.1.3. Product Benchmarking
  9.1.4. Strategic Initiatives
9.2. Siemens AG
  9.2.1. Company Overview
  9.2.2. Financial Performance
  9.2.3. Product Benchmarking
  9.2.4. Strategic Initiatives
9.3. Bharat Heavy Electricals Ltd.
  9.3.1. Company Overview
  9.3.2. Financial Performance
  9.3.3. Product Benchmarking
  9.3.4. Strategic Initiatives
9.4. Forbes Marshall
  9.4.1. Company Overview
  9.4.2. Financial Performance
  9.4.3. Product Benchmarking
  9.4.4. Strategic Initiatives
9.5. Babcock & Wilcox Enterprises, Inc.
  9.5.1. Company Overview
  9.5.2. Financial Performance
  9.5.3. Product Benchmarking
  9.5.4. Strategic Initiatives
9.6. Mitsubishi Heavy Industries, Ltd.
  9.6.1. Company Overview
  9.6.2. Financial Performance
  9.6.3. Product Benchmarking
  9.6.4. Strategic Initiatives
9.7. Harbin Electric Corporation
  9.7.1. Company Overview
  9.7.2. Financial Performance
  9.7.3. Product Benchmarking
  9.7.4. Strategic Initiatives
9.8. Cheema Boilers Limited
  9.8.1. Company Overview
  9.8.2. Financial Performance
  9.8.3. Product Benchmarking
  9.8.4. Strategic Initiatives
9.9. IHI Corporation
  9.9.1. Company Overview
  9.9.2. Financial Performance
  9.9.3. Product Benchmarking
  9.9.4. Strategic Initiatives
9.10. AC Boilers
  9.10.1. Company Overview
  9.10.2. Financial Performance
  9.10.3. Product Benchmarking
  9.10.4. Strategic Initiatives
9.11. Dongfang Electric Corporation Ltd.
  9.11.1. Company Overview
  9.11.2. Financial Performance
  9.11.3. Product Benchmarking
  9.11.4. Strategic Initiatives

LIST OF TABLES

Table 1 List of Abbreviations
Table 2 List of key regulations/standards/guidelines
Table 3 Global industrial boilers market estimates and forecasts, by application, 2016 - 2027 (USD Million)
Table 4 Global Industrial Boilers Market estimates and forecasts, in chemicals & petrochemicals, 2016 - 2027 (USD Million)
Table 5 Global Industrial Boilers Market estimates and forecasts, in chemicals & petrochemicals, by region, 2016 - 2027 (USD Million)
Table 6 Global industrial boilers market estimates and forecasts, in paper & pulp, 2016 - 2027 (USD Million)
Table 7 Global industrial boilers market estimates and forecasts, in paper & pulp, by region, 2016 - 2027 (USD Million)
Table 8 Global industrial boilers Market estimates and forecasts, in food & beverages, 2016 - 2027 (USD Million)
Table 9 Global industrial boilers Market estimates and forecasts, in food & beverages, by region, 2016 - 2027 (USD Million)
Table 10 Global industrial boilers market estimates and forecasts, in metals & mining, 2016 - 2027 (USD Million)
Table 11 Global industrial boilers market estimates and forecasts, in metals and Mining, by region, 2016 - 2027 (USD Million)
Table 12 Global industrial boilers market estimates and forecasts, in other applications, 2016 - 2027 (USD Million)
Table 13 Global industrial boilers Market estimates and forecasts, in other applications, by region, 2016 - 2027 (USD Million)
Table 14 Global industrial boilers market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
Table 15 Global industrial boilers Market estimates and forecasts, in oil & gas, 2016 - 2027 (USD Million)
Table 16 Global industrial boilers Market estimates and forecasts, in oil & gas, by region, 2016 - 2027 (USD Million)
Table 17 Global industrial boilers Market estimates and forecasts, in fossil, 2016 - 2027 (USD Million)
Table 18 Global industrial boilers Market estimates and forecasts, in fossil, by region, 2016 - 2027 (USD Million)
Table 19 Global industrial boilers Market estimates and forecasts, in non-fossil, 2016 - 2027 (USD Million)
Table 20 Global industrial boilers Market estimates and forecasts, in non-fossil, by region, 2016 - 2027 (USD Million)
Table 21 Global industrial boilers Market estimates and forecasts, in biomass, 2016 - 2027 (USD Million)
Table 22 Global industrial boilers Market estimates and forecasts, in biomass, by region, 2016 - 2027 (USD Million)
Table 23 North America industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 24 North America industrial boilers market estimates and forecasts, by application, 2016 - 2027 (USD Million)
Table 25 North America industrial boilers market estimates and forecasts, by fuel, 2016 - 2027 (USD Million)
Table 26 U.S. industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 27 U.S. industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 28 U.S. industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 29 Canada industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 30 Canada industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 31 Canada industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 32 Europe industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 33 Europe industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 34 Europe industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 35 France industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 36 France industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 37 France industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 38 U.K. industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 39 U.K. industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 40 U.K. industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 41 Russia industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 42 Russia industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 43 Russia industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 44 Italy industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 45 Italy industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 46 Italy industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 47 Spain industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 48 Spain industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 49 Spain industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 50 Asia Pacific industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 51 Asia Pacific industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 52 Asia Pacific industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 53 China industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 54 China industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 55 China industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 56 India industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 57 India industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 58 India industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 59 South Korea industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 60 South Korea industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 61 South Korea industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 62 Japan industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 63 Japan industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 64 Japan industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 65 Middle East & Africa industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 66 Middle East & Africa industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 67 Middle East & Africa industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 68 Saudi Arabia industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 69 Saudi Arabia industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 70 Saudi Arabia industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 71 UAE industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 72 UAE industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 73 UAE industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 74 Central & South America industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 75 Central & South America industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 76 Central & South America industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
Table 77 Brazil industrial boilers market estimates and forecasts, 2016 - 2027 (USD Million)
Table 78 Brazil industrial boilers market estimates and forecasts, by Application, 2016 - 2027 (USD Million)
Table 79 Brazil industrial boilers market estimates and forecasts, by Fuel, 2016 - 2027 (USD Million)
LIST OF FIGURES

Fig. 1 Global Industrial Boilers Market: Segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market Formulation & Data Validation
Fig. 5 Data Publishing
Fig. 6 Market Outlook
Fig. 7 Segmental Outlook
Fig. 8 Competitive Outlook
Fig. 9 Global Boilers Outlook
Fig. 10 Global Industrial Boilers Market Outlook
Fig. 11 Penetration and growth prospect mapping (USD Million), 2014-2025
Fig. 12 Value Chain Analysis
Fig. 13 Global Industrial Boilers Market: Market Dynamics
Fig. 14 Trade Analysis
Fig. 15 Industry Analysis - Porter’s
Fig. 16 PESTEL Analysis
Fig. 17 Application Movement Analysis, (% Share) 2019 & 2027
Fig. 18 Fuel Movement Analysis, (% share) 2019 & 2027
Fig. 19 Regional Movement Analysis, (% Share), 2019 & 2027
Fig. 20 Industrial Boilers Market: Regional Overview
Fig. 21 SWOT (Top 3 Companies)


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