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Gas Fired Chemical Boiler Market Size
Gas Fired Chemical Boiler Market was valued at USD 720.4 million in 2023 and is set to grow at a CAGR of 5% from 2024 to 2032. The paradigm shift toward efficient cleaner energy sources along with growing advancement in boiler systems aimed at improving efficiency and reducing emissions will stimulate business growth. Robust industrialization and urbanization growth in emerging economies combined with increasing investment in energy infrastructure will influence the business potential.
A gas fired chemical boiler is a type of industrial boiler that is specifically designed to generate heat and steam for chemical processes using natural gas fuels as the primary energy source. Strict environmental mandates and codes toward adoption of energy efficient units in line with upgradation of existing boiler systems will proliferate the industry outlook. The growing focus on energy-efficient heating systems in conjunction with incorporation of advanced digital technological units will cater favorable business scenario. Additionally, the ongoing expansion and refurbishment of industrial activities combined with rising demand for dependable and efficient steam generation systems will bolster the chemical boiler market.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 720.4 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 1.12 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 45 |
| Segments covered: | Capacity, Product, Technology & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Gas Fired Chemical Boiler Market Trends
The industry is poised for significant growth on account of favorable environmental policies, incentives program, and regulations toward GHG emissions reductions. Surging energy prices coupled with the shift toward cleaner energy sources are increasingly pursuing energy-efficient solutions, thereby stimulating the business landscape. Furthermore, rapid industrialization and economic expansion in emerging economies along with ongoing innovation in boiler units will drive the adoption of industrial boilers.
Gas Fired Chemical Boiler Market Analysis
The < 10 MMBtu/hr capacity gas fired chemical boiler industry will exceed USD 350 million by 2032. These boilers are designed for high efficiency in small-scale applications which offers operational costs and reduce fuel consumption. The industry shift toward eco-friendly technologies coupled with the integration of smart control units will energize business growth. Furthermore, significant investment from both public and private sector to upgrade existing boiler capabilities ensuring compliance with new environmental regulations and efficiency standards, thereby driving demand for these units.
The water tube gas fired chemical boiler market is anticipated to grow at a CAGR of over 4.5% through 2032, driven by improved operational efficiency and adoption of advanced technological systems. Government initiatives aimed at air quality and reducing emissions combined with innovation in predictive maintenance and remote monitoring technologies will boost the product deployment. Additionally, the rise of small and medium-sized enterprises in the chemical industry will encourage the demand for these units.
Asia Pacific gas fired chemical boiler market is set to surpass USD 400 million by 2032, on account of increasing focus on energy efficiency in industrial operations. Stringent regulations promoting cleaner technologies in association with government policies mandating reduced emission, are bolstering the industry landscape. Furthermore, the expansion of industrial zones and urban areas along with integration of renewable energy systems with boiler systems will augment the industry potential.
U.S. gas fired chemical boiler market is set to grow owing to stringent government regulations and rising energy cost. Supportive government incentives program, rapid technological advancements and refurbishment of industrial infrastructure will propel the adoption of these efficient boilers. Continuous enhancement in boiler technology including combustion systems and heat exchangers combined with federal and state-level rebate and incentives programs will invigorate the industry outlook.
Gas Fired Chemical Boiler Market Share
Viessmann manufactures intelligent, efficient systems for cooling, heating, refrigeration, air conditioning, and decentralized power supply. The company operates through its three divisions: Refrigeration Systems, Heating Systems, and Industrial Systems. The Industrial Systems division includes industrial boilers, steam boilers, and wood combustion systems. Viessmann also provides solar thermal systems with vacuum tubes and flat plate collectors, various heating solutions, gas-fired condensing and non-condensing heating technologies, advanced biomass heating, wood-fired boilers, and storage tanks, control technologies, indirect-fired domestic hot water tanks, and controls.
Gas Fired Chemical Boiler Market Companies
The key industry players include:
- ALFA LAVAL
- Ariston Holding N.V
- Babcock & Wilcox Enterprises, Inc.
- Babcock Wanson
- BDR Thermea Group
- Bosch Industriekessel GmbH
- Clayton Industries
- Cochran
- DAIKIN INDUSTRIES, Ltd.
- Danstoker A/S
- FERROLI S.p.A
- Forbes Marshall
- Fulton
- Hurst Boiler & Welding Co, Inc.
- Miura America Co., LTD.
- Rentech Boiler Systems, Inc.
- Thermax Limited
- Thermodyne Boilers
- Vaillant Group
- VIESSMANN
Gas Fired Chemical Boiler Industry News
- In February 2024, UL Standards & Engagement launched the ninth edition of UL 795, now known as ANSI/CAN/UL 795:2024, for Industrial-Commercial Gas-Fired Package Boilers. This updated bi-national standard is the first in North America to provide a certification pathway for boilers incorporating up to 25% hydrogen blending, setting a new industry benchmark.
- In February 2024, Miura introduced the Miura Care Program, a state-of-the-art preventative maintenance initiative developed in partnership with Hartford Steam Boiler. This program provides a thorough and streamlined maintenance experience, offering exceptional protection for boiler systems. Additionally, Miura and its partners have integrated advanced Internet of Things (IoT) technology into the program, enhancing both preventive and predictive maintenance capabilities.
This gas fired 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 Product
- Fire-Tube
- Water-Tube
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
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