NEW YORK, May 14, 2019 /PRNewswire/ -- The global report on the industrial burners market estimates the key macroeconomic factors that are projected to drive the growth of the industrial burners market. The report on the industrial burners market also discusses the challenges/restraints that are affecting the global market, along with the potential opportunities and latest trends in the industrial burners market across the value chain.
The global industrial burners market was valued at US$ 4,708.9 Mn in 2013, and is anticipated to have been valued at US$ 5,488.5 Mn at the end of 2018. The industrial burners market is expected to grow at a CAGR of 4.4% between 2018 and 2028, and is estimated to reach a global value of US$ 8,411.8 Mn by 2028 end.
Industrial Burners Market: Segmental Analysis
By burner type segment, the customized (burner boilers) segment is estimated to grow at a considerable compound annual growth rate (CAGR), owing to significant demand from industrial sectors, as well as these burners also being used for boilers to heat water and generate steam. Furthermore, segments such as regenerative burners and thermal radiation are estimated to grow at relatively healthy growth rates over the coming years, due to continuously increasing demand from end-user industries. PMR forecasts that the customized (burner boilers) segment will account for more than 40% value share in the burner type segment throughout the forecast period.
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By burner design, the mono-block segment is projected to grow with a paramount value share in the global industrial burners market during the forecast period, due to increasing usage in medium-scale plants of metal and metallurgy, and pulp & paper, among others. The mono-block segment is further categorized into single-stage and two-stage. In these two segments, the two-stage sub-segment is expected to grow at a relatively high CAGR in the global industrial burners market, owing to the reason that it can burn all pearls of fuel efficiently and supply heat effectively to the burner or any other application.
By application, the boilers and furnace/forges segments are estimated to represent significant absolute $ opportunity in the global industrial burners market during the forecast period, owing to the substantial use of industrial burners for boilers and furnaces. Furthermore, most boiler operators are adroitly opting for automate fuel combustion management systems that can supply heat according to the demand without wastage of fuel. Therefore, these segments (boilers and furnaces/forges) are expected to grow at addressable growth rates, and are also estimated to maintain significant command in the global industrial burners market.
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By fuel type, the oil burners segment is radiating significant opportunity for industrial burner manufacturers, owing to oil burners experiencing high demand from end-user industries. The duel fuel burners segment is also expected to grow at a healthy growth rate as compared to the gas burners segment.
By end-use industry, the metal & metallurgy segment is projected to account for a high value share in the global industrial burners market. Additionally, in terms of value, this segment is expected to grow 1.8X by the end of 2028. The power generation and food processing segments are estimated to grow at healthy compound annual growth rates in the global industrial burners market over the same time period.
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By region, South Asia, East Asia, and Latin America are projected to grow at substantial CAGRs in the global industrial burners market, owing to rapid industrialization, coupled with significant growth in the GDPs and economies. Furthermore, on the scale of growth, South Asia holds the first position, followed by Latin America and East Asia.
The intensity of competition in the industrial burners market is low to medium. There are a large number of small players in this market, which makes it highly fragmented. However, ~35% of the market is held by tier-1 players. Leading companies in the industrial burners market are focused on low NOx type industrial burner launches, and entering into expansion agreements in order to meet consumer demand. Some of the key players active in the global industrial burners market are Forbes Marshall Private Limited, Baltur S.p.A., Selas Heat Technology Company, Andritz AG, OILON GROUP OY, Weishaupt Group, Wesman Group, Alzeta Corporation, Faber Burner Company, AGF Burner, Inc., Webster Combustion Technology, LLC, John Zink Company, LLC, and Oxilon Pvt. Ltd.
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