The Industrial Burner Market is estimated to be valued at US$ 11291.33 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial burners are heating appliances used in various industrial processes such as metal processing, food processing, petrochemicals etc. to provide heat through combustion of fuels such as natural gas, oil and biomass. Key types of industrial burners include process burners, thermal spray/flame spray burners, glass working burners and general purpose industrial burners. Process burners are used in processes like annealing, tempering, brazing etc. while glass working burners are used in glass production. Major end-use industries include oil & gas, petrochemicals, food processing, metal processing among others.
Market Dynamics:
Increasing energy demand from industries is a key driver for the industrial burner market. With rapid industrialization worldwide, demand for energy intensive industrial processes is on the rise. This is increasing the demand for efficient and advanced industrial burners. Additionally, growing focus on green energy and shift towards biofuels is another factor fueling the demand. Various governments are providing subsidies and incentives for usage of biomass and biofuels in industrial applications to reduce dependence on fossil fuels. This is encouraging industries to adopt biomass fired industrial burners. Furthermore, rising investments in technological advancements of industrial burners for improved efficiency, reduced emissions and flexible fuel usage is positively impacting the market growth over the forecast period.
Segment Analysis
The industrial burner market is segmented into oil, gas, and dual fuel. The gas segment dominates the market and accounts for over 50% share owing to lesser emissions compared to oil and dual fuel burners. Gas burners produce lower carbon dioxide and nitrogen oxide emissions which make them more environment friendly.
PEST Analysis
Political: Favorable government policies and regulations regarding energy efficiency and emission control standards are driving the demand for gas burners. Most countries have implemented stringent norms to control air pollution.
Economic: Recovering global economic conditions are improving manufacturing activities worldwide which is increasing the demand for industrial burners from end-use industries. The rising industrialization in developing nations is also supporting the market growth.
Social: Growing awareness about environmental protection and sustainable industrialization is positively impacting the adoption of clean fuel burning technology. Customers prefer burners with lower carbon footprint.
Technological: Advancements in burner design, combustion technology, and flow control systems have enhanced combustion efficiency, reduced emissions, and improved overall performance. Integration of IoT and automation is also gaining traction.
Key Takeaways
The Global Industrial Burner Market Size is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing industrialization and manufacturing activities worldwide.
The Asia Pacific region dominated the global market in 2023 with over 35% share owing to strong growth in Chinese, Indian and Southeast Asian economies. Rapid expansion of manufacturing sector and construction industry in the region is driving the demand for industrial burners in various end-use industries.
Key players operating in the industrial burner market are ANDRITZ Group, Baltur S.p.A, Bloom Engineering, Wood Group PLC, Honeywell International Inc., Limpsfield Combustion Engineering Ltd, Mitsubishi Hitachi Power Systems, Ltd., Oilon Group, Osaka Gas Co., Ltd, Selas Heat Technology Company, R.W. Beckett Corp, SAACKE GmbH, Industrial Combustion IC, Wesman Group, and Striko Westofen. Major players are focusing on new product development, mergers, acquisitions, and geographical expansion to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
