Industrial Boiler Market Growth Outlook withm

Industrial Boiler Market Growth Outlook with Industry Review And
Forecasts 2022-2028

The industrial
boiler market is speculated to grow substantially by 2028 on
account of rapidly expanding chemical and food processing industries.

Water conducts thermal energy quickly and maintains heat for a
longer period of time than air, making industrial boilers inherently energy
efficient. They are also less prone to system leaks because they use pipes rather
than ductwork, saving energy. In addition, the introduction of environmental
regulations to reduce emissions has augmented market expansion in recent years.

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The industrial boiler market has been segmented on the basis of
fuel, product, technology, capacity, application, and region. With respect to
product, the industrial boiler market has been bifurcated into water-tube and
fire-tube. The water-tube sub-segment is set to expand at a robust pace through
the analysis timeline owing to increasing replacement of conventional heating
systems with energy-efficient boilers.

From the capacity perspective, the industrial boiler market has
been classified into < 10 MMBtu/hr, 10 - 25 MMBtu/hr, 25 - 50 MMBtu/hr, 50 -
75 MMBtu/hr, 75 - 100 MMBtu/hr, 100 - 175 MMBtu/hr, 175 - 250 MMBtu/hr, and
> 250 MMBtu/hr. The < 10 MMBtu/hr sub-segment is projected to reach a
notable valuation by 2028 driven by extensive product application in small
& medium-scale industrial facilities.

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The 25 - 50 MMBtu/hr sub-segment is anticipated to observe
sturdy gains over the estimated period owing to rapid industrialization.
Moreover, the introduction of several emission norms is likely to bolster
segmental growth in the coming time period.

The industrial boiler market size from the 100 - 175 MMBtu/hr
sub-segment is expected to progress at approximately 5% CAGR between 2022 and
2028. The > 250 MMBtu/hr sub-segment is speculated to gain significant
traction over the assessment period. Burgeoning demand for space heating and
hot water across large-scale industries is set to fuel industry uptake over the
forthcoming years.

In terms of application, the market has been differentiated into
primary metal, food processing, refinery, pulp & paper, and chemical. The
pulp & paper sub-segment is projected to witness optimistic growth through
the analysis timeframe due to the prevailing demand for heat or steam required
at various stages.

The primary metal sub-segment is foreseen to account for a
considerable market share by the end of the forecast period. Growing population
and improvement in living standards across developing countries are estimated
to boost segmental demand.

From the technology point of view, the industrial boiler market
has been segmented into non-condensing and condensing. The non-condensing
sub-segment is slated to grow at a substantial pace over 2022-2028. The
introduction of stringent government regulations to reduce carbon emissions is
set to bolster segmental expansion in the upcoming years.

With respect to fuel, the market has been divided into coal,
natural gas, and oil. The industrial boiler market share from the coal
sub-segment is foreseen to register a steady growth rate over the review period
on account of ease of availability and competitive prices. In addition,
mounting demand for electricity is likely to support segmental expansion.

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On the regional front, the Middle East & Africa industrial
boiler industry is poised to showcase exponential progress over the assessment
period owing to the booming domestic manufacturing sector. Moreover, rising
government emphasis on the development of new industrial facilities across MEA
is expected to foster regional market development. Meanwhile, the Latin America
industrial boiler market is anticipated to observe robust expansion between
2022 and 2028 driven by widespread urbanization across the LATAM region.

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