TUBE CHINA 2024 News: Market Outlook of Industrial Boilers

TUBE CHINA 2024, in its report on the fire-tube industrial boiler market size, noted that the market value reached 2.9 billion USD in 2022. Due to various factors including the development of clean fuels, government focus on greenhouse gas emissions, and robust expansion of niche industries, the share of natural gas fire-tube industrial boiler market has also grown. It is projected that by 2032, the fuel boiler market will grow at a compound annual growth rate of 4.2%. Industry competition is expected to unfold around fuel prices and product installation costs.

Fire-tube boilers generate steam or hot water using heat and fire produced from combustion processes. Hot gases pass through pipes immersed in a chamber filled with water. The pipe walls convert the gases into water through heat, producing steam or hot water used for heating, power generation, or other industrial processes. Exhaust gases are emitted through a chimney, creating an airflow that can maintain combustion air flow.

Based on capacity, the fire-tube industrial boiler market is divided into <10 MMBtu/hr, 10-25 MMBtu/hr, 25-50 MMBtu/hr, 50-75 MMBtu/hr and >75MMBtu/hr categories. In 2022, the industrial boiler market with <10 MMBtu/hr occupied 25% of the market share.

The fire-tube industrial boiler market is technologically divided into condensing and non-condensing types. By 2032, it is projected that condensing fire-tube industrial boilers will exceed 800 million USD. These boilers are more popular due to their ability to reduce carbon emissions, high efficiency, and low operating costs. Government initiatives aimed at promoting energy-saving heating equipment, as well as continuous upgrades of traditional systems, will further drive business prospects.

In terms of applications, the fire-tube industrial boiler market can be divided into food processing, chemicals, pulp and paper, refining, primary metals, and others. TUBE CHINA 2024 noted that in 2022, applications in the food processing sector exceeded 300 million USD.

The rapid expansion of the food processing industry and promising prospects in the chemical field, combined with economic recovery, policy support, and booming development in the primary metal industry, have all contributed to the growth of emerging industries. More and more large industries are using boiler systems, which aids business expansion.

The increasing global demand for chemicals in industries such as pharmaceuticals, petrochemicals, and specialty chemicals, an increasing preference for processed packaged foods, and increased investment in expanding food processing units will improve the industry landscape. These units widely use fire-tube boilers in processes like baking, sterilization, food drying, and pasteurization, offering tremendous business potential.

However, fire-tube industrial boilers still face issues such as lower energy efficiency, safety concerns, and long-term price volatility. It is expected that with the future market adjustments under relevant environmental regulations, rising fuel costs, and high maintenance costs, the demand for energy-saving systems will also grow rapidly.

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