In accordance with a report from TechSci Research titled "Global Industrial Boilers Market - Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028," the global industrial boilers market is poised for substantial growth in the forecast period. Factors contributing to this growth include increased demand for industrial boilers in the food and beverage industry, the adoption of clean technology in the chemical sector, and a rising requirement for electricity. Moreover, the escalating use of natural gas is expected to open up potential opportunities for the expansion of the industrial boilers market in the coming years.

Government initiatives in both developed and developing nations are geared towards promoting renewable energy sources to reduce carbon emissions. These policies not only foster market growth but also serve as regulatory frameworks, offering government grants to incentivize industries to embrace renewables. As a result, companies in the biomass heating sector are transitioning towards biomass utilization. An illustrative case is Saica, a recycling company based in Spain, which recently installed a biomass boiler at its paper mill in Venizelos, France. This innovative boiler effectively utilizes excluded materials from paper products and recycled wood, leading to a noteworthy annual reduction of onsite carbon dioxide emissions by 71%. Furthermore, the anticipated decrease in natural gas consumption is estimated at 89%.

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The Global Industrial Boilers Market is categorized based on component, application, end-user, and region. Component-wise, the market is divided into hardware, software, and services. Application segments include transmission lines and distribution lines, while end-users are classified as public utility and private utility. Geographically, the market is further segmented into North America, Asia-Pacific, Europe, South America, the Middle East, and Africa.

In terms of type, the Water-tube segment is anticipated to dominate the market throughout the forecast period. Water-tube boilers offer superior control over steam quality and quantity, making them critical in industries such as power generation and chemical processing. These boilers find applications in various sectors, including oil and gas, paper and pulp, food and beverage, and textile manufacturing. Their adaptability allows the use of a wide range of fuel types, such as coal, oil, natural gas, biomass, and waste materials.

Regarding function, the Hot Water segment is projected to lead the market consistently. Hot water boilers can operate on diverse fuel sources, including natural gas, oil, biomass, and waste materials, offering industries flexibility in choosing the most suitable and cost-effective fuel. Designed for optimal energy efficiency, hot water boilers use heat exchangers to minimize energy waste and ensure higher utilization of the fuel's energy content. Industries like food and beverage and healthcare heavily rely on hot water for various processes.

Key market players in the Global Industrial Boilers Market are:

  • Mitsubishi Heavy Industries Marine Machinery & Equipment Co. Ltd.

  • General Electric Company

  • Harbin Power Equipment Co. Ltd.

  • IHI Corporation

  • Babcock & Wilcox Co.

  • Thermax Ltd.

  • Doosan Heavy Industries & Construction

  • Dongfang Electric Corporation Ltd.

  • Bharat Heavy Electricals Ltd.

  • Robert Bosch GMBH

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“Europe is anticipated to dominate the market in the forecast period. The region prioritizes the implementation of combined heat and power (CHP) systems, enhancing energy efficiency by utilizing waste heat to generate electricity. Industry 4.0 principles, such as digitalization and automation, provide opportunities to optimize boiler performance, improve maintenance strategies, and further decrease energy consumption,” stated Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm.

The report titled "Industrial Boilers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Fire-tube, Water-tube and Others), By Function (Hot Water and Steam), By Fuel Type (Natural Gas & Biomass, Oil and Coal), By End User (Food & Beverages, Chemical, Oil & Gas, Manufacturing and Others), By Region, Competition" evaluates the future growth potential of the Global Industrial Boilers Market, providing statistics and information on market size, structure, and future growth. The report aims to offer cutting-edge market intelligence to assist decision-makers in making informed investment decisions, identifying emerging trends, and analyzing essential drivers, challenges, and opportunities in the Global Industrial Boilers Market.

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