Low Temperature Industrial Boiler Market
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Low Temperature Industrial Boiler Market size was valued at USD 2.37 billion in 2023 and is estimated to grow at a CAGR of 4.5% between 2024 and 2032. The escalating industrial activities and urbanization rates, especially in developing economies will increase the deployment for these heating technologies. For instance, the investments in the industrial sector across the Europe saw a growth of over 5% in 2023.
A low temperature industrial boiler is a type of boiler system designed to operate at relatively lower temperature range of below 180°F. These boilers are typically used in industrial settings where the process requirements do not necessitate extremely high temperatures. These units are designed with efficiency and safety in mind often incorporating features including advanced controls, insulation, and heat recovery systems to maximize energy efficiency and minimize environmental impact.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Low Temperature Industrial Boiler Market size in 2023: | USD 2.37 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.5 |
| 2023 Value Projection: | USD 3.59 Billion |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 725 |
| Tables, Charts & Figures: | 40 |
| Segments Covered: | Temperature, Fuel, Capacity, Technology, Product, Application & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Increasing demand for water and space heating systems fueled by a surging population and rising urbanization rates will positively impact the market. The introduction of supportive government policies aimed at achieving high energy efficiency particularly in developing nations will escalate the industry growth. Moreover, the rising trend of industrialization coupled with the increasing inclination toward the adoption of efficient steam generation systems will bolster the business prospects.
The > 140°F - 160°F temperature segment will exceed over USD 1.15 billion by 2032. These systems are predominantly utilized in facilities such as manufacturing plants, primary metal industries, paper and pulp mills, and refineries. The implementation and effective enforcement of governmental regulations targeting pollution control have sparked a surge in the replacement of traditional heating systems, driving the industry potential.
The fire tube industrial boiler market size will witness growth rate of over 4% by 2032. The increasing demand for specialty chemicals and the evolving consumer preference for processed food items have spurred a surge in investments in new manufacturing facilities, driving the business expansion. Additionally, the food and beverage industry has witnessed significant growth owing to shifting consumption patterns and rising disposable incomes, thereby revitalizing the business potential.
The Europe low temperature industrial boiler market is set to surpass USD 750 million by 2032. The rise of budget-friendly heating systems coupled with the increasing embrace of low-emission units, will drive the adoption of these units. The growing demand, fueled by continuous advancements in boiler designs, controls, and automation, is boosting efficiency, safety, and overall performance. This is enticing industries to invest in cutting-edge systems.
U.S. industrial boiler market will witness an upsurge owing to shifting trend toward nuclear family and paradigm shift toward the smart water heating systems. Ongoing emphasis on reducing carbon emissions and enhancing operational efficiency will positively impact the business growth. Surging adopting low temperature boilers across medium scale industries in line with extensive investment toward development and expansion of industrial buildings will favor the business scenario.
Thermax Limited is a globally renowned company specializing in energy and environment engineering. These are used for generating steam for power generation or process heating in industries including power, chemical, pharmaceuticals, and food processing. It is known for its expertise in incorporating advanced technologies into its boiler designs. Thermax incorporate features like high thermal efficiency, low emissions, and use of eco-friendly fuels, aligning with global trends towards sustainable industrial practices.
The key industry players include:
Market, By Temperature
Market, By Product
Market, By Capacity
Market, By Fuel
Market, By Technology
Market, By Application
The above information has been provided for the following regions and country:
Babcock and Wilcox Enterprises, Inc., Bharat Heavy Electricals Limited, Clayton Industries, Cleaver-Brooks, Doosan Heavy Industries & Construction., FERROLI S.p.A, Fonderie Sime S.p.A., FONDITAL S.p.A., General Electric, Groupe Atlantic, Hoval, Hurst Boiler and Welding Co, Inc. among others
The market size of low temperature industrial boiler reached USD 2.37 billion in 2023 and is set to grow at 4.5% CAGR up to 2032, led by robust industrialization and the implementation of stringent emission regulations.
Fire tube low temperature industrial boiler industry size will witness 4% CAGR from 2024 to 2032, owing to the increasing demand for specialty chemicals and the evolving consumer preference for processed food items.
The Europe market is likely to record USD 750 million by 2032, favored by the rise of budget-friendly heating systems coupled with the increasing embrace of low-emission units.