by The global Industrial Burner Market is estimated to be valued at US$ 11291.33 Mn or Bn 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 fuel burning devices used in various industrial processes for applications such as heating, drying and processing of materials. They provide reliable and cost-effective solutions for controlling combustion and heating requirements in different industries.
Market key trends:
One of the key trends in the industrial burner market is growing adoption of integrated burner management systems (BMS). Burner management systems have various functionalities such as ignition control, flame monitoring, combustion control and more. They help improve combustion efficiency, ensure reliable operation and reduce maintenance costs. Integrated BMS systems offer additional capabilities such as data logging, remote diagnostics and integration with building management systems. They help optimize burner performance and reduce emissions. Manufacturers are focusing on developing advanced integrated burner management solutions to gain competitive edge in the market.
SWOT Analysis
Strength: The industrial burner market has strong global presence with key players operating worldwide. Industrial burners find wide applications in industries such as oil & gas, chemicals, food processing etc. ensuring stable demand.
Weakness: Availability of substitutes such as electric heaters can hamper the demand for industrial burners. Stringent environment regulations regarding emissions may lead to additional compliance costs for market players.
Opportunity: Growing industrialization in developing countries offer significant growth opportunities. Technological advancements in burner design for improved efficiency and reduced emissions open up new areas of growth.
Threats: Volatility in raw material prices can impact supply chain and manufacturing costs. Economic slowdowns may negatively impact the demand from end-use industries. Stringent regulations regarding carbon emission limits pose operational challenges.
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 demand from process industries like oil & gas, chemicals, food processing etc. Rapid industrialization worldwide is the key growth driver.
Regional analysis
Asia Pacific dominates the global market and is expected to maintain its lead over the forecast period. This can be attributed to strong growth in process industries and increasing manufacturing capacity additions in nations like China and India. North America and Europe are also significant markets driven by stringent environmental norms and replacement of aging burner infrastructure.
Key players
Key players operating in the Industrial Burner Market are ANDRITZ Group, Baltur S.p.A, Bloom Engineering, Wood Group PLC (Foster Wheeler AG), Honeywell International Inc. (Maxon), Limpsfield Combustion Engineering Ltd, Mitsubishi Hitachi Power Systems, Ltd (MHPS), Oilon Group, Osaka Gas Co., Ltd, Selas Heat Technology Company, R.W. Beckett Corp, SAACKE GmbH, Industrial Combustion IC, Wesman Group, Striko Westofen, Forbes Marshall Pvt. Ltd., QED Combustion, Alzeta Corporation, Alfa Therm Limited, Weishaupt, Enertech GmbH, Power Flame (Astec), EOGB Energy Products Ltd., Babcock Wanson, Riello S.p.A, Zeeco, Inc., Alfa Laval, Corbett Industries, Inc., Faber Burner Company, AGF Burner Inc., John Zink Hamworthy Combustion, Oxilon Private Limited, Wayne Combustion Systems, SECO/WARWICK, INC., Surface Combustion, Inc., Midco International, Inc., and ELCO GmbH
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
