Market Insights
The market size for fire tube industrial boilers is expected to increase due to the rapidly growing food processing industry, a bright future for the chemical industry, and an increasing population. The ongoing initiatives to lower greenhouse gas emissions, along with shifting consumer preferences for replacing and upgrading existing heating systems, are anticipated to promote the expansion of the market for fire tube industrial boilers.
The global industrial boiler market is anticipated to be stimulated in the upcoming years by efforts made by governments of various countries to minimize carbon emissions as well as increased investment in the production of energy-saving goods. Additionally, it is anticipated that the worldwide industrial boiler market is being stimulated by the expanding number of mega power projects in developing countries.
Furthermore, the government's strict rules governing the emission of harmful gases and energy conservation are helping the energy sector, which is driving up demand in the market for industrial boilers around the world over the course of the forecast period. The fire tube industrial boiler market is expected to grow at a promising CAGR of more than 5% during the forecast period.
Segment Analysis
Based on the capacity type, the market is segmented into <10 MMBtu/hr, 10-25 MMBtu/hr, 25-50 MMBtu/hr, 50-75 MMBtu/hr, and >75 MMBtu/hr. Fire tube industrial boilers with a capacity <10 MMBtu/hr are expected to dominate the market during the forecast period. The market for industrial boilers with a capacity of less than 10 MMBtu/hr is expected to rise because of resurgent economic growth and supporting government policies. The adoption of the device will be further aided by changing tendencies toward multiple boiler systems and a bright prognosis for the primary metal industry.
Based on the technology type, the market is segmented into condensing and non-condensing. Condensing fire tube industrial boiler is expected to be the faster-growing segment of the fire tube industrial boiler market in the foreseen future. These boilers' ability to provide lower carbon emissions, improved energy efficiency, and lower operational costs are the key elements that will make their adoption more appealing than alternatives. Additionally, continuous government initiatives to promote energy-efficient heating systems and replace outdated heating systems will favourably impact industry growth.
Based on the fuel type, the market is segmented into natural gas, oil, coal, and others. Natural gas fuel type is expected to have the largest market share in the fire tube industrial boiler in the coming years. Government regulations and statutory requirements to reduce greenhouse gas emissions, together with fuel accessibility and clean combustion, will support industrial growth.
Based on the application type, the market is segmented into food processing, pulp & paper, chemical, refinery, primary metal, and others. The chemical industry segment dominates the market, whereas the food industry is expected to grow at the highest CAGR in the market during the forecast period. Growth in the market for fire tube industrial boilers will be aided by consumers' increasing propensity for packaged and processed foods, as well as increased investments in the development of new production facilities.
In terms of regions, Asia-Pacific is expected to be the dominant as well as the fastest-growing market for fire tube industrial boiler over the forecast period. Rapid industrialisation in the region's growing countries, such as India and China, is attributed for the region's greatest growth. The demand for industrial boilers in the Asia-Pacific region is rising as more refineries are opening across various nations in the region.
Key Players
To obtain a solid presence in the market, industry players are employing a variety of techniques such as production capacity growth, mergers and acquisitions, and new product development.
The following are some of the key players in the fire tube industrial boiler market:
- AMEC Foster Wheeler
- Babcock and Wilcox
- Bosch Thermotechnology
- Clayton
- Cleaver-Brooks
- Cochran
- Doosan
- Forbes Marshall
- Fulton
- General Electric
- Hurst Boiler
- IHI
- Mitsubishi Hitachi Power Systems
- Rentech
- Siemens
- Thermax
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fire tube industrial boiler market realities and future market possibilities for the forecast period of 2022 to 2027. the report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth Application.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The fire tube industrial boiler market is segmented into the following categories:
Fire Tube Industrial Boiler Market, by Capacity Type
- <10 MMBtu/hr (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- 10-25 MMBtu/hr (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- 25-50 MMBtu/hr (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- 50-75 MMBtu/hr (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- >75 MMBtu/hr (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Fire Tube Industrial Boiler Market, by Technology Type
- Condensing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Non-Condensing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Fire Tube Industrial Boiler Market, by Fuel Type
- Natural Gas (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Oil (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Coal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Fire Tube Industrial Boiler Market, by Application Type
- Food Processing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Pulp & Paper (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Refinery (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Primary Metal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Fire Tube Industrial Boiler Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
