Home > Energy & Power > Electrical Equipment > Boilers > Gas Fired Industrial Hot Water Boiler Market
Gas Fired Industrial Hot Water Boiler Market Size
Gas Fired Industrial Hot Water Boiler Market was valued at USD 378 million in 2023 and is set to grow at a CAGR of 6.1% between 2024 and 2032. Increasing regulatory measures to reduce greenhouse gas emissions in line with improve energy efficiency and adoption of highly efficient boiler units will positively influence the market penetration. The shift toward integration of cleaner energy sources coupled with innovation in boiler systems will energize the industry landscape.
A gas fired industrial hot water boiler is a type of boiler that uses natural gas, propane, or other gaseous fuels to heat water for industrial applications. Rising demand for combustion technology and condensing capabilities in line with stringent environmental standards and codes will strengthen business overview. Continuous innovation including smart control systems, improved heat exchanger materials, and enhanced burner design combined with incorporation of building management systems and facilitating easier integration will complement the adoption of these systems.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 378 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.1% |
| 2032 Value Projection: | USD 634.8 Million |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 125 |
| Tables, Charts & Figures: | 45 |
| Segments covered: | Capacity, Application, Technology and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Gas Fired Industrial Hot Water Boiler Market Trends
The industry is anticipated to surge owing to their enhanced operational efficiency, reduce maintenance cost, and comply with updated environmental regulations. These heating systems offer flexibility and scalability which makes them ideal for industrial processes with varying heat demands. Continuous involvement of renewable energy including solar thermal and heat recovery systems in association with implementing energy efficiency & sustainability will propel the deployment of industrial boiler.
Gas Fired Industrial Hot Water Boiler Market Analysis
The < 10 MMBtu/hr capacity gas fired industrial hot water boiler industry will exceed USD 200 million by 2032. This capacity of industrial boilers is designed to maximize fuel efficiency and environmentally friendly heating solution for industrial application. Surging incorporation of smart control systems which allows predictive maintenance, real time monitoring, and improves operational efficiency will escalate the business outlook. Burgeoning investment by key private and public industry players toward modernization of their existing boiler units to meet environmental regulations and efficiency standards will further fuel the deployment for these units.
The food processing gas fired industrial hot water boiler market is projected to witness more than 5.5% CAGR through 2032, on account of increasingly focus on energy efficient and sustainable operation coupled with their lower carbon emission as compared to other fossils fuels. Rising food safety and environmental regulations in line with growing focus on cleaner combustion process, reducing harmful emissions, improving overall air quality will accelerate business growth. Furthermore, ongoing spending in modernizing and retrofitting their existing heating units to excel energy efficiency and meet the new mandates, which in turn will foster the product penetration.
Asia Pacific gas fired industrial hot water boiler market is set to surpass over USD 200 million by 2032, owing to robust urbanization growth and industrialization across key emerging economies. Rising focus on emission reduction targets and energy efficiency combined with escalating investment to expand infrastructure projects comprising of food processing, power generation, and chemical will boost the industry growth. Furthermore, ongoing supportive policies and funding schemes focusing on clean energy transition & minimizing carbon emission in association with combat climate change will proliferate the industry scenario.
U.S. gas fired industrial hot water boiler market is poised for significant growth driven by abundant availability expansion of natural gas infrastructure. Rapid adoption of advanced technologies and digitalization in boiler units along with featuring of predictive maintenance & smart monitoring capabilities to improve operational efficiency or reduce downtime will influence the industry outlook. Additionally, the EPA and other regulatory authorities have enforced strict emission mandates pertaining to reduce pollutants from industrial sources, thereby propelling the product deployment.
Gas Fired Industrial Hot Water Boiler Market Share
Thermax manufactures and design cooling and heating systems, industrial refrigeration, air conditioning & process cooling and heating. The company’s energy portfolio comprises of boiler & heater, absorption cooling, solar, cogeneration plants include coal, biomass & natural gas and waste heat recovery power. Its boiler and heater. Its boiler and heater segment includes waste to energy boilers, oil, gas & biomass fired boilers, waste heat recovery boilers & fixed plate type AFBC boilers.
Gas Fired Industrial Hot Water Boiler Market Companies
The key industry players include:
- Babcock Wanson
- Bosch Industriekessel GmbH
- California Boiler
- Cleaver-Brooks
- Cochran
- Danstoker A/S
- Ecotherm Austria GmbH
- Fulton
- HKB
- Hoval
- Hurst Boiler & Welding Co, Inc.
- Indeck Power Equipment Company
- Johnston Boiler
- Miura America Co., Ltd.
- Thermax Limited
- Thermodyne Boilers
- Thermon
- Viessmann
Gas Fired Industrial Hot Water Boiler Industry News
- In February 2024, Miura proudly unveils the innovative Miura Care Program, a preventative boiler maintenance service initiative developed in collaboration with Hartford Steam Boiler. This strategic collaboration aims to deliver Complete Steam Solutions that prioritize, reliability, safety, efficiency, and environmental sustainability. Leveraging advanced IoT technology, the program excels in both predictive and preventive maintenance, setting a new benchmark in boiler care and revolutionizing industry standards.
- In January 2023, Babcock Wanson announced the strategic acquisition of Parat and PBS Power Equipment. Parat, a renowned Norwegian company, specializes in manufacturing and designing high voltage boilers, while PBS Power Equipment excels in providing industrial boiler solutions. These acquisitions mark a pivotal move for Babcock Wanson, fortifying its presence in the European industrial boiler market and significantly enhancing its capabilities to meet the evolving demands of customers during the energy transition era.
This gas fired industrial hot water 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:
Market, By Capacity
- < 10 MMBtu/hr
- 10 - 25 MMBtu/hr
- 25 - 50 MMBtu/hr
- 50 - 75 MMBtu/hr
- > 75 MMBtu/hr
Market, By Application
- Food Processing
- Pulp & Paper
- Chemical
- Refinery
- Primary Metal
- Others
Market, By Technology
- Condensing
- Non-Condensing
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
Frequently Asked Questions (FAQ) :