U.S. Industrial Boiler Market Accelerates To Hit $1.54 Billion By 2027 | Grand View Research, Inc

U.S. Industrial Boiler Market Accelerates To Hit $1.54 Billion By 2027 | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the U.S. industrial boiler market size was valued at USD 1.24 billion in 2019 and is expected to grow at a compounded annual growth rate (CAGR) of 2.8% from 2020 to 2027.

The U.S. industrial boilers market size is anticipated to reach USD 1.54 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 2.8% from 2020 to 2027. Technological advancements and decreasing industrial boiler prices have led to increased adoption in the manufacturing sector driving demand.

The packaging segment is growing at a significant pace along with the market for pulp for hygiene products and tissues in the U.S. The demand for pulp in the textile industry is anticipated to register result in steady growth in the equipment used for the pulp and paper industry, driving the demand.

Steel has very high tensile strength along with the ability to withstand high temperatures and pressure, which makes it durable and long-lasting. Besides, maintaining and cleaning steel boilerplates is easier since they allow manufacturers to add an extra layer of protective coating, thereby increasing the durability of boilerplates.

Suppliers in the market are focusing on offering the right-quality industrial boilers and services at a suitable price with the required specifications as per the convenience of customers. Supplier selection is measured as a multiple criteria decision-making problem, which is affected by numerous conflicting factors such as quality, cost, and delivery.

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U.S. industrial boiler market size, by fuel, 2016 - 2027 (USD Billion)

End-use Insights

The chemical and petrochemical segment accounted for 36.6% of the overall revenue share in 2019. The need for high volume steam for several processes such as dilution, quenching, mechanical drive, fractionalization, and stripping and increasing chemicals production across the country is expected to drive the demand.

The large boilers provide steam to produce the pulp, whereas small and medium capacity boilers are used to supply start-up steam as well as for maintenance and emergency steam requirements. In some paper and pulp mills, steam from biomass boilers is combined with the steam from the recovery boiler and then transferred to steam turbines.

Boilers used in the food and beverage industry include brewing, distillation, cleaning or sterilizing equipment, cooking, drying, curing, neutralizing microbiological, or antigen threats in the food. Boilers in the food processing facilities are responsible for generating hot water for heating, power, sanitation, processing, and cooking. Large industrial boilers are used in the food and beverage industry for wet corn milling, pasteurization, and Ultra-high Temperature Processing (UHT).

The use of large boilers in the metals and mining industry is more concentrated in the integrated steel mills, where these boilers are used to provide steam for turbine-driven equipment, including machine drives and blast furnace fans, as well as for on-site power generation. However, the increasing adoption of electric ‘mini-mills’ is expected to replace the large steam users.

Key Takeaways from the report:

  • The oil and gas segment dominated the type of fuel used for industrial boilers and accounted for 65.1% of the overall revenue share in 2019 owing to high availability and low cost compared to other types of fuel used for industrial boilers
  • The small boilers segment accounted for 38.8% of the total revenue share in 2019 and is expected to continue the dominance over the forecast period as small boilers are ideal for stand-by operations requiring small amounts of steam during off-season periods
  • The food and beverage segment is expected to witness a CAGR of 3.4% over the forecast period of 2020 to 2027 owing to the increasing demand in microbreweries, food processing, and beverage manufacturing facilities
  • The chemical & petrochemical segment accounted for 36.6% of the overall revenue in 2019 owing to the need for high volume steam for several processes and increasing chemicals production across the country
  • In September 2019, John Zink Hamworthy Combustion (JZHC) and The Babcock & Wilcox Company signed a partnership agreement for pairing the former’s Coen burners with Babcock & Wilcox Company’s water-tube package boilers

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U.S. industrial boiler market share, by end use, 2019 (%)

Major Players:

  • Babcock & Wilcox Enterprises, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • IHI Corporation
  • Forbes Marshall
  • Hurst Boiler & Welding Company, Inc.

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Grand View Research has segmented the U.S. industrial boilers market based on fuel type, capacity, and end-use:

U.S. Industrial Boiler Fuel Type Outlook (Revenue, USD Million, 2016 – 2027)

  • Oil & Gas
  • Fossil
  • Non-Fossil
  • Biomass

U.S. Industrial Boiler Capacity Outlook (Revenue, USD Million, 2016 – 2027)

  • Small
  • Medium
  • Large

U.S. Industrial Boiler End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Chemicals & Petrochemicals
    • Small
    • Medium
    • Large
  • Paper & Pulp
    • Small
    • Medium
    • Large
  • Food & Beverages
    • Small
    • Medium
    • Large
  • Metals & Mining
    • Small
    • Medium
    • Large
  • Others
    • Small
    • Medium
    • Large

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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