July 13, 2024
Industrial Burner Market

Projected Demand for Cleaner Combustion to Boost Growth of the Industrial Burner Market

The global 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 combustion devices used in industrial boilers, furnaces, and other process heating equipment to burn solid, liquid, or gaseous fuels. They help provide heat for a variety of industrial processes such as drying, curing, heating, and energy production. Various types of industrial burners used include gas, oil, and dual fuel burners. Their key advantage is ability to offer efficient, controlled, and clean combustion for different industrial heating applications. With growing industrialization and manufacturing activity, demand for industrial burners is rising globally.

Market key trends:

One of the key trends in the industrial burner market is the rising demand for clean and energy-efficient combustion systems. Stringent emission regulations aimed at curbing air pollution are driving the replacement of conventional burners with low NOx burners. Additionally, rise of industry 4.0 and focus on operational optimization is also boosting adoption of intelligent burners with advanced combustion and digital control technologies. Furthermore, growing emphasis on replacing coal and fuel oil with natural gas due to its cleaner burning nature is favoring gas burner sales. Automation and use of IoT sensors in burners is another emerging trend allowing remote monitoring and diagnostics of combustion equipment performance.

Porter’s Analysis

Threat of new entrants: New entrants face high initial setup costs to build manufacturing facilities and establish supply chains in the industrial burner market. They also face barriers from existing players who have strong brand identity and customer loyalty towards established brands.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of product alternatives and substitutes. However, switching costs for buyers are also moderate.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to diversified demand from industries and availability of component substitutes. However, suppliers need to adhere to strict emission norms.
Threat of new substitutes: Threat from new substitutes is low as burner technology has reached maturity. However renewable technologies continue to emerge as alternatives.
Competitive rivalry: Intense competition exists among existing players to gain market share and expand customer base. Players differentiate products based on fuel flexibility, emissions, and Aftermarket services.

Key Takeaways

The Global Industrial Burner Market Size is expected to witness high growth at a CAGR of 3.3% over the forecast period, driven by increasing demand from key end-use industries such as oil & gas, chemical and petrochemical.

Regionally, Asia Pacific dominates the global market and is expected to exhibit fastest growth during the forecast period due to rapid industrialization and growing manufacturing sector in China and India. China represents largest market for industrial burners in the region.

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. Key players are focused on new product launches and mergers & acquisitions to strengthen their market presence.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it