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Condensing Industrial Hot Water Boiler Market Size

Report ID: GMI9604
Published Date: May 2024
Report Format: PDF

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Condensing Industrial Hot Water Boiler Market Size

Condensing Industrial Hot Water Boiler Market size in 2023 was valued at USD 312.9 million and is set to grow at a CAGR of 5.6% between 2024 and 2032. Rapid industrialization & urbanization in line with increasing environmental concern and stringent regulations to reduce carbon emission will augment the industry landscape. Continuous advancements in boiler technology comprising of materials, digital monitoring solutions, and combustion control systems will energize the product adoption. For instance, in December 2022, revisions were made to various segments of the Vermont Air Pollution Control Regulations, focusing on the regulation of air contaminant emissions originating from boiler systems.

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A condensing industrial hot water boiler is an advanced heating system designed to maximize energy efficiency by capturing and utilizing heat that would otherwise be lost in the combustion process. Increasing adoption of renewable fuel sources including biogas, biomass, and hydrogen along with growing demand of highly efficient condensing units across pulp & paper, chemical, food processing industries will propel the product penetration of industrial hot water boiler. The global shift toward implementation of economic development growth and energy policies along with growing adoption of smart building management systems will influence the industry outlook.

Condensing Industrial Hot Water Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Condensing Industrial Hot Water Boiler Market Size in 2023:	USD 312.9 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.6%
2032 Value Projection:	USD 505.6 Million
Historical Data for:	2021 to 2023
No. of Pages:	110
Tables, Charts & Figures:	54
Segments covered:	Fuel, Capacity, Application, and Region
Growth Drivers:	Robust development of chemical & food processing industries Rapid industrialization across developing nations Stringent government emission regulations
Pitfalls & Challenges:	High installation cost

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Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

Industry size for condensing industrial hot water boiler registered USD 312.9 million in 2023 and will expand over 5.6% CAGR between 2024 and 2032, driven by the rising demand for energy-efficient heating solutions and stringent environmental regulations promoting low-emission technologies.

The food processing application segment in the condensing industrial hot water boiler industry will grow at 5.5% CAGR up to 2032, primarily attributed to its high demand for precise and efficient heating solutions essential for various processes, including cooking, cleaning, and sterilization.

Europe industry size will exceed USD 180 million by 2032, fueled by stringent environmental regulations for promoting energy-efficient solutions and the strong emphasis on sustainability.

Leading condensing industrial hot water boiler industry players are Acme Engineering Products Ltd., Babcock Wanson, Bosch Industriekessel GmbH, FERROLI S.p.A., Fulton, HKB, Hoval, Hurst Boiler & Welding Co., Inc., Indeck Power Equipment Company, Maxtherm (India) Private Limited, and PARAT Halvorsen AS, among others.