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Industrial Electric Boiler Market Size
Industrial Electric Boiler Market size was valued at USD 255.7 million in 2023 and is estimated to grow at a rate of 17% from 2024 and 2032. The industry will witness substantial growth owing to government mandates and emission regulations designed to reduce greenhouse gas emissions. For instance, in 2023, the share of Asian investors in the industrial sector has risen sharply, increasing from 10% in 2019 to 18%.
Industrial electric boilers are pivotal components in modern manufacturing and processing industries, offering efficient and reliable heating solutions. These boilers utilize electricity to generate heat providing a clean and sustainable alternative to traditional fuel-based systems. Their versatility allows them to be easily integrated into various industrial processes, ranging from food production and chemical processing to textile manufacturing and beyond. They offer precise temperature control, ensuring consistent performance and minimizing energy wastage. As industries continue to prioritize sustainability and operational excellence, the adoption of electric boilers is expected to increase further shaping the future of industrial heating solutions.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 255.7 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 17% |
| 2032 Value Projection: | USD 992.6 Million |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 125 |
| Tables, Charts & Figures: | 54 |
| Segments covered: | Voltage Rating, Capacity, Application & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Industrial Electric Boiler Market Trends
The industries being among the largest GHG emitters are adopting these boilers to lower their carbon footprint, thereby driving business growth. Shifting dietary habits toward high-value-added foods including meat and chocolate along with evolving consumer lifestyle trends will enhance the industry outlook. The increasing demand for processed foods is set to drive the expansion of food processing units, thereby boosting the product penetration. Government mandates aimed at reducing industrial pollution have led to an increase in the replacement of traditional heating systems, thereby stimulating the industrial boiler market.
Industrial Electric Boiler Market Analysis
The low voltage segment will reach over USD 600 million by 2032. The shift from fossil fuels to decarbonized energy systems along with the rapid deployment of clean energy technologies, will significantly boost the business scenario. The industry is further driven by rising investments in manufacturing facilities and the replacement of traditional boilers with energy-efficient models. Implementation of stringent government regulations to limit GHG emissions along with robust adoption of advanced heating systems will fuel the product penetration.
The < 10 MMBtu/hr industrial electric boiler market size will witness growth rate of over 14% by 2032. The developed nations with stringent regulations aimed at reducing reliance on fossil fuels will present substantial business opportunities. These boilers are preferred due to their cost competitiveness compared to alternatives. The product offers significant advantages such as quiet operation, easy installation, rapid start-up and shutdown times, and enhanced safety, thereby accelerating industry potential.
The Europe industrial electric boiler market is set to exceed USD 400 million by 2032. The implementation of carbon emissions regulations along with the growing adoption of alternative heating systems are set to benefit the industrial sector. EU member states have committed to achieving climate neutrality by 2050, necessitating substantial reductions in fossil fuel reliance. Consequently, industries are increasingly opting for electric powered central heating systems in winter. Moreover, a shift towards sustainable heating technologies alongside strong industrial sector expansion will enhance the business environment.
The collaboration between private enterprises and federal as well as state governments to develop and expand industrial facilities will foster the U.S. industrial electric boiler market. The revitalization of the construction sector along with the ongoing expansion of infrastructure have generated heightened the product demand. The increasing need for heating solutions in medium and large-scale industries is set to sustain the industry growth.
Industrial Electric Boiler Market Share
Slant/Fin Corporation is renowned in the industrial sector for its comprehensive range of electric boilers, catering to various industrial heating needs. The company excels in producing efficient and reliable electric boilers designed to deliver consistent performance and energy efficiency. Its products are widely recognized for their robust build quality and innovative features, ensuring they meet stringent industrial standards and requirements. Slant/Fin Corporation commitment to technological advancement and customer satisfaction underscores its position as a preferred choice for industrial electric boilers, offering solutions that blend durability with cutting-edge engineering for optimal heating solutions in diverse industrial applications.
Industrial Electric Boiler Market Companies
The key industry players include:
- Acme Engineering Products Ltd.
- ACV
- Babcock Wanson
- Cerney
- Chromalox
- Cleaver-Brooks
- Cochrane Engineering
- Danstoker A/S
- Ecotherm Austria GmbH
- Electro-Steam Generator Corp.
- FERROLI S.p.A
- Klöpper-Therm GmbH & Co. KG
- KOSPE
- LACAZE ENERGIES
- PARAT Halvorsen AS
- Precision Boilers
- Reimers Electra Steam, Inc.
- Slant/Fin Corporation
- The Fulton Companies
- Thermodyne Boilers
- Thermon
- Thermona
- Värmebaronen
- Vattenfall AB
Industrial Electric Boiler Industry News
- In 2023, ACV has introduced the EVO S series of stainless steel wall hung boilers, replacing their previous Prestige line. The new boilers are offered in seven models ranging from 40 to 150 kW, featuring stainless steel plate heat exchange technology to ensure optimal performance. To cater to larger buildings or those with intricate layouts, optional low height frame and header kits are available, enhancing the cascade capability of the system to over 900 kW.
- In March 2022, The Fulton Companies has launched the Endura boiler, an innovative condensing hydronic boiler. Considered as a vertical fire-tube industrial boiler, it ranges in size from 2,000,000 Btu/hr to 1,500,000 BTU/hr boasting compact footprints. The Endura provides premium solutions in performance, product design, and application flexibility, significantly enhancing the company's product range and market presence in the electric boiler segment.
The industrial electric boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:
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Market, By Voltage Rating
- Low Voltage
- Medium Voltage
Market, By Capacity
- < 10 MMBtu/hr
- 10-50 MMBtu/hr
- 50-100 MMBtu/hr
- 100-250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Application
- Food & Beverages
- Paper
- Chemical
- Refinery
- Others
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Poland
- Italy
- Spain
- Germany
- Russia
- Austria
- Sweden
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Philippines
- Middle East & Africa
- Saudi Arabia
- Iran
- UAE
- Egypt
- Nigeria
- Kenya
- Morocco
- South Korea
- Latin America
- Brazil
- Argentina
- Colombia
- Chile
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