Boiler Market to witness growth opportunities worth USD 24.45 Bn. by 2029 Research and Development, Growth Prospects and Huge Investments

Boiler Market to witness growth opportunities worth USD 24.45 Bn. by 2029 Research and Development, Growth Prospects and Huge Investments
Boiler Market
Boiler Market size was valued at USD 15.46 Bn. in 2021 and the total Boiler revenue is expected to grow at a CAGR of 5.9% from 2022 to 2029, reaching nearly USD 24.45 Bn.

Pune, 7, Dec2022: The report analysed by Maximize Market Research, the global energy and power market research firm published on Boiler Market covers an extensive competitive and pricing analysis in the report. Asia-Pacific region is expected to witness significant growth according to the report. During the Forecast period, the report expects the market to grow from USD 15.46 Billion in 2021 to USD 24.45 Billion in 2029 at a CAGR of 5.9 percent. 

Boiler Market Scope and Research Methodology

The research is a comprehensive analysis of all key players in the Boiler Industry by country, region and at a global level. Bottom-up approach has helped research analysts to analyse the micro-level factors affecting the growth and size of the Boiler MarketTo understand the factors affecting the Boiler Market, the report gives details on the drivers, challenges, opportunities and restraints prevailing in the Boiler Market.

The report has covered all the key global Boiler Market player’s profiles from a strategic perspective and also given the competitive landscape of local players by region, which will help users of the report to understand the dynamics of the market and industry to formulate the growth strategies. Total market by segments and opportunities for growth are key findings of the report that help companies to utilize their resources and focus on growth prospects.

The Boiler Market is segmented by Fuel Type, Boiler Type, Boiler Horsepower, End-Use Industry and Region, with a focus on major firms such as market leaders, followers, and new entrants. The report is an investor & guide since it provides a comprehensive picture of the competitive landscape of leading players in the Boiler Market by goods and services, revenue, financial status, portfolio, growth strategies, and geographical presence.

Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.

The market structure illustrated in each country, with market holdings by market leaders, followers, and local companies, provides a full insight into the research. The report also covers the market & mergers and acquisitions, strategic alliances, joint ventures, and partnerships by region, investment, and strategic intent. SWOT analysis was conducted to provide the strengths and weaknesses of the Boiler Market while PESTLE was employed to understand the potential impact of the macro-economic factors affecting the Boiler Market.

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Boiler Market Overview

A boiler is a closed steel vessel which contains water that is heated and converted into steam with the application of combustion. Heat and gases produced during the combustion process are used to generate steam and hot water that is then used for heating and processing. The boilers are used for domestic and industrial purposes. The ones used in households are small and compact while the industrial ones are sized up for massive heat production.

Boiler Market Dynamics

The food processing industry has been growing over the last decade on account of rising consumer demand due to the growing population. Higher quality food is being demanded with changing consumer preferences. This growth in the food processing industry is driving the growth of the Boiler Market. Since boilers generate heat/steam, they can be utilized for processes such as cooking, sanitizing, processing and packaging. Given the wide range of applications, the food processing industry is expected to increase the demand for the Boiler Market over the forecast period.

However, the fluids used in the boiler are expected to pose a risk to the environment. Depending upon the fluid, there is a high or low risk of carbon emissions. The usage of such fluids is expected to impede the growth of the Boiler Market. Efficiency can be increased by improving industrial equipment and operational efficiency.

Boiler Market Regional Insights

The largest share of the market was held by the Asia-Pacific region in 2021 and is expected to dominate the market over the forecast period. The growth in the region is driven by the increased demand for industrial boilers in developing economies like China and India. The region is also the leader in the chemical industry increased the demand for the Boiler Market. Government initiatives on attracting FDI are boosting industrialisation and increasing the demand for the Boiler Market. The increasing population in the region and rapid urbanisation is expected to drive the Boiler Market’s regional growth over the forecast period.

Boiler Market Segmentation: 

By Fuel Type:

  • Natural Gas & Biomass
  • Coal
  • Oil
  • Others

By Boiler Type: 

  • Fire-Tube
  • Water-Tube

By Boiler Horsepower:

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

By End-Use Industry: 

  • Chemical
  • Food
  • Refineries
  • Metals & Mining
  • Others

Boiler Market Key Manufacturers include: 

  • Bharat Heavy Electricals
  • A.O. Smith
  • Parker
  • Cleaver-Brooks
  • Thermax
  • Weil-McLain
  • Fulton
  • General Electric
  • Babcock and Wilcox
  • Forbes Marshall
  • Burnham
  • Hurst Boiler and Welding
  • Cochran
  • DEC
  • John Wood Group PLC
  • IHI Corporation
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Bryan Steam
  • Superior Boiler Works, Inc.
  • Vapor Power
  • Sofinter S.p.a, AB&CO GROUP
  • ZOZEN boiler Co., Ltd.

Key questions answered in the Boiler Market are: 

  • What is a Boiler? 
  • What is the current growth rate of the Boiler Market?  
  • What is the growth rate of Boiler Market for the next five years? 
  • What is the nature of competition in Boiler industry in developed and developing economies? 
  • Who are the key players in the Boiler Market?
  • Who are the market leaders in Boiler Market in Europe?
  • Who are the market leaders in Boiler Market in USA and Canada?
  • Who are the market leaders in Boiler Market in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Boiler Market? 
  • Who held the largest market share in Boiler Market? 
  • What are the factors for the growth of Asia-Pacific region in Boiler Market?

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Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Fuel Type, Boiler Type, Boiler Horsepower, End-Use Industry and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading energy and power research firm, has also published the following reports:

Steam Boiler Systems MarketThe Steam Boiler Systems Market size is expected to reach USD 21.74 billion by 2029 at a CAGR of 5.2 percent during the forecast period. The Steam Boiler Systems Market is expected to be driven by favourable government initiatives and increasing demand for electricity. 

Boiler Water Treatment Chemicals MarketThe Boiler Water Treatment Chemicals Market size is expected to reach USD 54.39 billion by 2029 at a CAGR of 8.5 percent during the forecast period. The Boiler Water Treatment Chemicals Market is expected to be driven by increasing demand for steam across various end-use industries and increasing power generation plants. 

Residential Boiler Market-The Residential Boiler Market size is expected to reach USD 11.70 billion by 2029 at a CAGR of 5.2 percent during the forecast period. The Residential Boiler Market is expected to be driven by urbanisation and favourable government initiatives. 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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