Industrial Burner Market Estimated to Witness Steady Growth Due to Rising Demand from Various End Us

Author : naufan cmi | Published On : 19 Jan 2024

Industrial burners are combustion devices used in boilers, furnaces, and heating systems to burn fossil fuels or other combustible materials in several industries. They are extensively used in industries like oil & gas, chemical and petrochemical, food processing, power generation, and others for applications involving heating, drying, and thermal process applications. Industrial burners ensure a clean and efficient combustion process and are available in different types based on the fuel used such as gas, oil, or dual fuel burners.

The global industrial burner market is estimated to be valued at US$ 5.2 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising demand from various end use industries: Industrial burners are widely used across various industries such as oil & gas, chemicals, energy & power, food processing, and others for thermal process applications involving heating and drying. Rapid industrialization across developing regions along with expansion of existing manufacturing facilities is augmenting the demand for industrial burners from end use industries. Furthermore, growing energy demand globally has led to increased fossil fuel combustion, thereby propelling the industrial burner market growth.

Technological advancements: Manufacturers are focusing on developing advanced and energy efficient industrial burners with improved flame stability, higher turndown ratios, and lower emissions. Ongoing technological developments are expanding the product offerings and driving the adoption of new generation industrial burners. In addition, introduction of automated and IoT enabled industrial burners is presumed to open new growth avenues for market players over the forecast period.

SWOT Analysis
Strength: The industrial burner market is expected to witness growth due to rapid industrialization globally. Burners are essential for various industrial processes requiring heat such as manufacturing, chemicals, oil & gas, and food processing industries. Technological advancements are leading to the development of burners with greater fuel efficiency and higher operational durability.

Weakness: High initial investment and maintenance costs associated with industrial burners can restrict their adoption, especially in cost-sensitive markets. Strong competition and presence of local players further intensifies the pricing pressures in the market. Increased awareness about energy conservation and transition towards cleaner fuels also impacts burner sales.

Opportunity: Shift towards decentralized power generation models is creating demand for fuel-flexible and modular burners. Widespread use of IoT-based sensors for real-time burner monitoring as well as implementation of predictive maintenance tools offer new opportunities. Expanding process industries in developing regions will drive the replacement and installation of new burners.

Threats: Stringent emission norms restricting the usage of petroleum-based fuels pose challenges. Adoption of alternate heating technologies impacts the sales of conventional burners. Economic slowdowns hamper capital expenditures of end-use industries reducing burner procurement. Trade barriers and geopolitical tensions also increase raw material costs.

Key Takeaways
The Global Industrial Burner Market Size is expected to witness high growth over the forecast period supported by rising manufacturing activities across major economies.

Asia Pacific currently dominates the market and is projected to maintain its leading position during the analysis timeframe. China, India, Japan, and South Korea are among the key manufacturing hubs experiencing rapid capacity expansions in industries like chemicals, metals, and oil & gas. This makes APAC highly lucrative for burner vendors.

Key players operating in the industrial burner market are Alzeta Corporation, ANDRITZ, Baltur S.p.A, Bloom Engineering, Cadence Inc., Forbes Marshall., Honeywell International Inc. (Maxon), Oilon, Osaka Gas Co., Ltd, and Wesman Group. They offer customized burner solutions catering to diverse process heating requirements across industries. Adopting strategies like expanding product portfolio, strengthening distribution networks, and collaborating with technology partners are helping these companies strengthen their positions in the market.

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