The Industrial Boiler Market to Suffer Amidst the COVID-19 Pandemic

Introduction

Industrial boilers use electricity, coal, gas, biomass, and other sources to produce steam for heating purposes. Rising adoption of boilers in the food and beverage industries, stringent government regulations, and increasing popularity of solar panels drives the market growth. However, the huge installation costhinders the market growth.

Impact of COVID-19

The demand for boiler is decelerating amidst the COVID-19 pandemic as most of the manufacturers are forced to shut down their operations. Halt in the trade activities has reduced the availability of raw materials.However, the market is projected to witness a slight growth on account of rising consumer demand for clean energy, which has compelled the manufacturers to produce electricity using boilers.

Key Highlights

• The fire tube segment is likely to hold the highest market share
• The food and beverage segment dominates the market
• North American leads Industrial boiler market on account of rapid industrialization
• Asia-Pacific is projected to hold the largest market share as several manufacturers are establishing their presence in the region due to easy access to raw materials and availability of low-cost labor

Competitive Players

1. Bosch Industriekessel GmbH
2. Ekotek Kazan Ltd.
3. SILSON
4. Unilux Advanced Manufacturing, LLC
5. Fulton
6. Nationwide Boiler Inc.
7. Cleaver-Brooks
8. Reimers Electra Steam Inc
9. VICTORY ENERGY
10. Mitsubishi Heavy Industries
11. Columbia Boiler Company

Recent Developments

Recent Developments

• In January 2022, JERA and Mitsubishi Heavy Industries initiated a pilot project to develop a novel technology to increase the co-firing rate of ammonia in coal-fired boilers.
• In March 2022, Mitsubishi Power received an order for 2 H-25 gas turbines from Uzbekistan for district heating purposes.

Segmentation

1. By Type
   1. Fire Tube
   2. Water Tube
   3. Cast Iron
   4. Combination/Hybrid
2. By Heat Source
   1. Coal
   2. Biomass
   3. Oil & Gas
   4. Electric
   5. Wood Fired
   6. Electric
3. By Application
   1. Food & Beverage
   2. Textile
   3. Heating
   4. Building Materials
   5. Chemical Industry
   6. Paper