The report Industrial Burner Market is expected to grow at a CAGR of 6.1% during the forecast period, from an estimated USD 5.9 billion in 2022 to USD 7.9 billion in 2027. Increasing power generation worldwide coupled with the surging adoption of dual-fuel industrial burners to lower the imprint of depleting fossil fuels is fueling demand for industrial burners. The increasing use of biofuels, hazardous waste, and hydrogen-based industrial burners creates numerous opportunities for industrial burner manufacturers.
The oil segment, by fuel type, is expected to be the most significant industrial burner market during the forecast period
The oil segment has the largest share of the global industrial burner market owing to the ease of availability of fuel and increasing urbanization and industrialization in the developing economies. Oil is the most efficient fuel type where natural gas is not easily available. Many developing countries lack a proper distribution network for natural gas. In addition, oil-fired industrial burners emit less CO2 in comparison with coal-fired industrial burners.
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The direct-fired burner segment is anticipated to be the fastest-growing industrial burner market by burner type, during the forecast period
The direct-fired burner is expected to have the largest market share during the forecast period. A direct-fired burner can produce more heat compared to an indirect fired burner, resulting in a smaller equipment footprint. These burners are most commonly used in power plant boilers, which produce high-pressure steam in order to generate electricity. The increasing demand for boilers in the power generation sector and a variety of heating and combustion equipment are the main factors driving the demand for direct-fired burners in the industrial burner market.
Asia Pacific is expected to dominate the global industrial burner market during the forecast period
In this report, the industrial burner market has been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Asia Pacific is expected to lead the market during the forecast period.
The industrial burner market in Asia Pacific is witnessing significant developments in the power generation and manufacturing sector due to industrialization, which has supported the demand for industrial burners across countries of the region. The industrial sector in China contributes more than 50% of its GDP, and the growth of this sector has tremendously increased power production and consumption in the country. These factors have made China one of the most lucrative markets for the power industry. Moreover, the chemicals and petrochemical sectors are also well-established in the region and are expected to contribute to the growth of the industrial burner market. New policy reforms in India to support the growth of industries have made the country a very lucrative market for OEM manufacturers. This is also likely to create a huge demand for industrial burners in the region.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the industrial burner market. These include including ANDRITZ Group (Austria), NIBE Group (Sweden), Honeywell International Inc. (US), Ariston Group N.V. (Italy), Fives (France), and Riello S. p. A. (Italy). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.