Condensing Fire Tube Chemical Boiler Market – By Fuel (Natural Gas, Oil, Coal), By Capacity, By Regional Outlook & Forecast, 2024 – 2032

Condensing Fire Tube Chemical Boiler Market Size

Condensing Fire Tube Chemical Boiler Market size in 2023 was valued at USD 235.1 million and is set to grow at a CAGR of 4.7% between 2024 and 2032. The increasing adoption of cleaner energy systems coupled with robust technological advancements in boiler design focusing on reducing emissions and enhancing efficiency will influence the industry dynamics.
 

Rapid urbanization and industrialization in key geographies in association with surging investment to expand energy infrastructure will stimulate the business prospects. For instance, as reported by the American Chemical Council Inc, the chemical industry spearheaded capital investments, pouring over USD 26 billion into new ventures in 2022.
 

A condensing fire tube chemical boiler is a type of boiler designed to efficiently generate steam or hot water by combusting fuel (typically natural gas) in a way that maximizes energy recovery from the combustion process. It is widely used in chemical processing plants to provide heat for various operations. Supportive emission standards emphasizing on energy efficiency in line with modernization and improvement of existing boiler units will positively sway the industry growth. Growing awareness of energy-efficient heating technologies in tandem with incorporation of smart digital solutions in these units will proliferate the demand for chemical boilers.
 

Condensing Fire Tube Chemical Boiler Market Trends

The industry is set for substantial growth on account of favorable environmental policies and measures pertaining to reduce GHG emissions. Surging energy and fuel prices coupled with the need for reliable heat & steam in chemical processes will foster the favorable business scenario. Rapid economic development and growing industrialization across key emerging economies in conjunction with ongoing technological innovation in boiler system will further energize the deployment of fire tube chemical boilers.
 

Condensing Fire Tube Chemical Boiler Market Analysis

The < 10 MMBtu/hr capacity condensing fire tube chemical boiler industry will exceed USD 110 million by 2032. This capacity of boilers is designed to deliver high efficiency in small applications, significantly minimizing fuel consumption and operational costs, which in turn will encourage the industry outlook. Positive inclination toward adoption of environmentally friendly and energy efficient heating systems coupled with integration of advanced control technologies will encourage the industry dynamics. Furthermore, burgeoning investment by the private and public sector to upgrade the boiler capabilities with new environmental standards and efficiency measures will bolster the deployment for these units.
 

The natural gas condensing fire tube chemical boiler market is anticipated to grow at a CAGR of over 5.5% till 2032. The industry is witnessing robust growth owing to increasing shift from coal and oil-fired boilers to natural gas-fired systems and growing demand to reduce carbon footprint and comply with emission regulation. Natural gas price is becoming more stable and affordable along with growing requirement for efficient heat and steam generation for chemical processes will create positive business scenario. Moreover, governments worldwide are enforcing stricter environmental regulations toward adoption efficient heating systems will drive the business potential.
 

Asia Pacific condensing fire tube chemical boiler market is set to surpass USD 130 million by 2032. The region is observing substantial growth due to rapid industrial growth and urbanization in line with increasing demand for chemical products. Strict government mandates pertaining toward deployment of sustainable technologies combined with advancements in boiler technology including enhanced heat exchangers, automated control systems, and improved material, thereby propelling the business prospects. In addition, ongoing expansion & development of urban areas and industrial zones in line with rising integration of renewable energy sources with traditional boiler units will amplify the industry growth.
 

U.S. market is poised for notable surge driven by rising energy cost and stringent environmental regulations. Supportive government policies, incentives programs, incorporation of advanced technological units, and modernization of industrial facilities will sway the industry landscape. Continuous innovations in boiler systems including heat exchangers and combustion systems coupled with favorable state & federal’s rebate, policies & incentives programs will encourage the business scenario.
 

Condensing Fire Tube Chemical Boiler Market Share

Thermax specializes in designing and manufacturing systems for cooling, heating, industrial refrigeration, and process air conditioning. The company's diverse energy portfolio encompasses a range of solutions: from boilers and heaters to absorption cooling, solar energy systems, and cogeneration plants powered by coal, biomass, natural gas, and waste heat recovery. Within the boiler and heater segment, Thermax offers a variety of products, including oil & gas, waste-to-energy boilers, waste heat recovery boilers, biomass-fired boilers, and fixed plate type AFBC boilers. Additionally, their extensive product lineup features steam boilers, solid fuel systems, thermic fluid heaters, hot water and air heaters, waste heat recovery boilers, and energy plants.
 

Condensing Fire Tube Chemical Boiler Market Companies

The key industry players include:

• ALFA LAVAL
• Ariston Holding N.V.
• Babcock & Wilcox Enterprises, Inc.
• Babcock Wanson
• BM GreenTech Berhad
• Bosch Industriekessel GmbH
• Clayton Industries
• Cleaver-Brooks
• Cochran
• Forbes Marshall
• Fulton
• Hoval
• Hurst Boiler & Welding Co, Inc.
• Miura America Co., LTD.
• Rakiro
• Rentech Boiler Systems, Inc.
• Thermax Limited
• Thermodyne Boilers
• Viessmann
   

Condensing Fire Tube Chemical Boiler Industry News

• In May 2024, Miura America and Daikin Industries established a strategic business and capital partnership. Daikin will acquire more than 4% of Miura's shares, while Miura will obtain a 49% stake in Daikin Applied Systems, a subsidiary of Daikin. This collaboration aims to combine the strengths of both companies' expertise, products, technologies, and business networks, with the potential to reduce energy consumption by up to 50% in factories across various industries.
   
• In February 2024, Babcock Wanson completed the acquisition of VKK Group, a leader in industrial boiler design, manufacturing, and sales across key sectors include food, energy, and chemicals. VKK Group also delivers a comprehensive suite of services, including engineering, turnkey project execution, equipment monitoring, and maintenance. This strategic move expands Babcock Wanson’s footprint in Germany, leveraging VKK’s production facility in Köthen and service operations in Duisburg to enhance its market position.
   

The condensing fire tube chemical boiler market research report includes in-depth coverage  of the industry with estimates & forecast in terms of “Units”, “MMBtu/hr” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Capacity

• < 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
• > 250 MMBtu/hr

Market, By Fuel

• Natural gas
• Oil
• Coal
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • France
  • UK
  • Poland
  • Italy
  • Spain
  • Austria
  • Germany
  • Sweden
  • Russia
• Asia Pacific
  • China
  • India
  • Philippines
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil