Growth Drivers
Due to numerous requirements from governments around the world, all manufacturers are required to provide energy-efficient heating solutions. In addition to reducing emissions
from industrial furnaces, many manufacturers are now focusing on innovative technologies that reduce manufacturing costs.
With increasing emphasis on reducing emissions to minimize adverse climate change, operating with renewable fuels is becoming increasingly important. The demand for smart
heating equipment continues to grow due to technological advancements, research activities and constant developments.
Additionally, technological advancements related to the emergence of heating technologies are expected to further drive the growth of the industrial burners market over the
forecast period. Manufacturers are increasingly using combustion technology to improve heating efficiency.
2. Report segmentation
The market is primarily segmented on the basis of fuel type, burner type, operating temperature, power rating, end use, and region.
End use insights
Based on end-use, the power generation segment is expected to register the highest CAGR during the forecast period. Rising global demand for electricity has further accelerated
the demand for industrial heating products used in steam power plants, gas turbine power plants, coal-fired power plants and diesel power plant boilers.
3. Insights by fuel type
Based on fuel type, dual-fuel industrial burners are expected to witness the second largest market growth during the forecast period owing to their diverse specifications. These
products are known for their features such as ease of operation, compact design, durability, energy efficiency and enhanced performance.
Furthermore, this gas type is expected to hold a significant share in the global market. The high demand is due to the increasing use of gas heating equipment in various applications
in several industries such as bakeries and ovens, boilers, furnaces, automotive workshops, metal industries, etc., due to its characteristics of high tensile strength and long service life,
with the best performance. Excellent, reliable and durable.
4. Geographical overview
Asia Pacific is expected to dominate the global market during the forecast period. Factors such as rapid industrialization, population growth, rising power demand, and cost advantages
of low-cost labor are likely to accelerate the growth of the industry in the region during the forecast period.
Additionally, the growth in market demand is further driven by enhanced technological innovation, rising electricity consumption, and the growing presence of multiple manufacturers in the region.
Furthermore, North America is expected to hold a significant share in the global market. The industrial burner market in North America is accelerating expansion due to continued investment
in mining, liquefied natural gas, chemicals and other industries as well as the development of domestic manufacturing.
5. Competitive Insights
Some of the major players operating in the global market include Alzeta Corporation, Andritz Group, Ariston Group NV, Baltur SPA, Bloom Engineering, Ebico, Fives, Honeywell International Inc.,
Nibe Group, Oilon Group OY, Oxilon Pvt Ltd, Riello SPA, Selas Heat Technology Company, Weishaupt and Zeeco.
For example, in July 2021, ANDRITZ acquired Finnish company Enviroburners Oy, which produces advanced industrial heating equipment solutions for energy production and environmental protection.
The acquisition opens up possibilities for growth, particularly in environmentally friendly applications where hazardous substances are burned to produce new raw materials.