China Industrial Boilers Market - Forecast(2021 - 2026)

Report Code: AIR 0306 Report Format: PDF + Excel (Delivery in 48 Hrs)

China Industrial Boiler Market Overview

The China Industrial Boiler Market is estimated to surpass $4.5 billion mark by 2026 growing at an estimated CAGR of more than 6.5% during the forecast period 2021 to 2026. The growth of the demand for Industrial Boiler systems is driven mainly by increased usage of Industrial Boilers in various end-user industries. This rise can be attributed to the increase in the deployment of Industrial Boilers worldwide in the manufacturing and processing industries which is resulting in growth of both water tube boilers and fire tube boilers. In addition, new power plants are being set up to meet the growth in demand for power from the manufacturing industries, which is further increasing the demand for Industrial condensing Boilers and non-condensing boilers. According to the IEA, the Asia Pacific zone has seen an increase in primary energy usage, from 5748 million tonnes of oil equivalent in 2017 to 6185.8 million tonnes by the end of 2019. In the Asia Pacific region, the full utilisation of coal has been accomplished. The largest share of global electricity usage was owned by China in 2019, which accounted for 46.7 per cent of overall global electricity consumption in non-OECD nations. The move towards the implementation of alternate green energy sources, such as hydropower and Industrial Boiler, to meet energy scarcity and energy needs is expected to fuel demand growth in the country. Rapidly expanding industries, primarily the F&B and chemicals sectors will drive the market. Moreover, financial institutions coupled with the Chinese government have introduced initiatives to develop new industrial centers which in turn will fuel Industrial Boiler deployment.

Report Coverage

The report: “China Industrial Boiler Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the China Industrial Boiler Market.
By Type: Gas, Electric, Coal, Oil and Others
By Capacity: <10 MMBtu/hr, 10-20 MMBtu/hr, 20-50 MMBtu/hr, 50-100 MMBtu/hr, 100-200 MMBtu/hr, 200-400 MMBtu/hr, >400 MMBtu/hr
By Function:  Hot Water, Steam
By Product Type: Water Tube Boiler, Heat Tube Boiler
By Technology: Condensing, Non Condensing
By Sales Channel: Online, Offline
By End User Industry:  Commercial, Energy and Power, Chemical, Metal and Mining, Oil and Gas, Food and Beverage, Paper and Pulp and Others

Key Takeaways

  • High demand for electricity has been driven by industrialization and the rising use of electrical appliances and machinery, along with growing economic development in developing countries. This pattern is more pronounced in the population of the Asia Pacific zone, which is projected to hit 5.1 billion by 2050.
  • China has been transformed into lucrative manufacturing markets and the world's fastest growing economies by supportive industrial development policies, low-cost raw materials, ease of availability, and cheap labour costs. This is resulting in surge in demand for electricity in industrial applications.
  • Increase in power plant capacity addition set to drive demand for Industrial Boilers in the energy and power sector in the medium to long term.

China Industrial Boiler Market, By Type, 2020 ($M)

China Industrial Boiler Market

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China Industrial Boiler Market Segment Analysis - By Type

Industrial Boilers are generally categorised into Gas, Electric, Coal, Oil, Others. The demand for electricity is rising due to factors such as increasing industrialization and the increasing use of electrical equipment and machinery, along with growing economic growth. Thus, this is propelling the demand for power generation systems including Industrial Boiler systems. In addition, an increase in the addition of power plant capacity due to the building of new power plants and the reconstruction of existing ones is projected to intensify the demand. The coal segment held the highest market share in 2020. The reasons attributed to demand growth are the extensive use of fossil fuels for power production in developing countries. Easy availability and relatively low cost are some of the main factors driving demand for the coal-fired China Industrial Boiler Market. According to the IEA, coal is responsible for 40% of global power generation.

China Industrial Boiler Market Segment Analysis - By End Use Industry

Energy and Power sector will be a major end user for Industrial Boilers in the Chinese market. The rising power plant capacity will be a major cause of this market growth. The International Energy Agency’s World Energy Investment Outlook, estimated that around USD 9.5 trillion would be spent on the construction of new power plants and in the refurbishment of existing ones across the world from 2014 to 2035. More than 30% of which is expected to be utilized for fossil-fuel based thermal power plants. Increased generation capacity is expected to be achieved mainly through thermal power plants based on fossil fuels, which act as a primary source of electricity generation in these countries. During the forecast period, the Chinese and Indian markets are expected to be among the fastest growing economies and are estimated to account for almost 70% of all the proposed addition of thermal power capacity over the same period. In order to meet economies of scale, such investments aim to lift electricity tariffs. Increased demand for the Industrial Boiler system has resulted from increasing energy prices.

China Industrial Boiler Market Drivers

Rise in Demand for Energy Efficient Boilers

Industrial Boiler manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Newly emerging low NOx regulations are designed to thwart or reduce the harmful effects of Nitrogen Oxide (NOx) gases on the environment. This highly toxic family of reactive gases is produced when fuel is combusted at high temperatures, such as with water heaters, boilers, furnaces and even from the engines of vehicles. Because of the apparent harmful effects of NOx on the environment, a growing number of boiler manufacturers are looking to get ahead of the inevitable regulations.

Penetration of IoT in Industrial Application

Most boiler system units now offer some form of Wifi capability with the ability to control the unit from virtually anywhere through an internet connection. Customers will increasingly gain the ability to control their boiler and monitor their boiler from apps on their devices. With the emergence of automation and IoT, companies are working towards introducing smart boilers that helps boiler attendants and operators to locate potential energy losses quickly and suggests concrete measures to address them. The efficiency assistant even detects critical situations immediately and analyses the state of components based on the operating mode.

China Industrial Boiler Market Challenges

High Installation Costs

Due to the design parameters and varying levels of after-sales service, the cost of Industrial Boilers differs. In contrast to traditional Industrial Boilers, budget Industrial Boilers provide shorter lifespans, shorter warranties, and a lower level of customer service. The production of boilers with improved efficiency is the result of the use of special alloys and advanced technologies. Installation of a Industrial Boiler system requires high capital, which makes it one of the production plant's most important expenses. The cost associated with Industrial Boiler construction is 15-20 percent of the overall cost of the boiler. Due to the high degree of technological expertise involved in the operation of Industrial Boilers and the separate construction of boiler houses in the utility zone, this cost is expected to remain the same.

China Industrial Boiler Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the China Industrial Boiler Market Bosch, GE, Alfa Laval, Doosan, Viessmann, Grundfos, A.O Smith, Harbin Electric, Miura and others are considered to be the key players of the China Industrial Boiler Market. New product innovations and contracts and agreements were the strategies most widely implemented by the top players. This was followed by mergers & acquisitions and investment & expansions. The increase in government initiatives to encourage the use of Industrial Boiler systems, such as the provision of rebates and subsidies for their purchase, also adds remarkably to the growth of this market

Acquisitions/Technology Launches/Partnerships

  • The International Energy Agency’s World Energy Investment Outlook, estimated that around USD 9.5 trillion would be spent on the construction of new power plants and in the refurbishment of existing ones across the world from 2014 to 2035. More than 30% of which is expected to be utilized for fossil-fuel based thermal power plants.
  • In June 2019, Joulon group acquired Harris Pye. Harris Pye had been acquired to primarily add capability in the Project Management Platform for the Joulon Group and will also have an impact in the majority of the Joulon platforms
 

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1. China Industrial Boilers Market - Overview
    1.1. Definitions and Scope
2. China Industrial Boilers Market - Executive summary
    2.1. Market Revenue, Market Size and Key Trends by Company
    2.2. Key Trends by type of Application
    2.3. Key Trends segmented by Geography
3. China Industrial Boilers Market 
    3.1. Comparative analysis
        3.1.1. Product Benchmarking - Top 10 companies
        3.1.2. Top 5 Financials Analysis
        3.1.3. Market Value split by Top 10 companies
        3.1.4. Patent Analysis - Top 10 companies
        3.1.5. Pricing Analysis 
4. China Industrial Boilers Market – Startup companies Scenario Premium Premium
    4.1. Top 10 startup company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Market Shares
        4.1.4. Market Size and Application Analysis
        4.1.5. Venture Capital and Funding Scenario
5. China Industrial Boilers Market – Industry Market Entry Scenario Premium Premium
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing business index
    5.3. Case studies of successful ventures
    5.4. Customer Analysis – Top 10 companies
6. China Industrial Boilers Market Forces
    6.1. Drivers
    6.2. Constraints
    6.3. Challenges
    6.4. Porters five force model
        6.4.1. Bargaining power of suppliers
        6.4.2. Bargaining powers of customers
        6.4.3. Threat of new entrants
        6.4.4. Rivalry among existing players
        6.4.5. Threat of substitutes 
7. China Industrial Boilers Market -Strategic analysis
    7.1. Value chain analysis
    7.2. Opportunities analysis
    7.3. Product life cycle
    7.4. Suppliers and distributors Market Share
8. China Industrial Boilers Market – By Function (Market Size -$Million / $Billion)
    8.1. Market Size and Market Share Analysis 
    8.2. Application Revenue and Trend Research
    8.3. Product Segment Analysis
        8.3.1. Hot Water
        8.3.2. Steam
9. China  Industrial Boilers Market – By Design (Market Size -$Million / $Billion)
    9.1. Fire-tube boilers
    9.2. Water-tube boilers
10. China Industrial Boilers Market – By Technology (Market Size -$Million / $Billion)
    10.1. Condensing
    10.2. Non-Condensing
11. China Industrial Boilers Market – By Capacity Specifications (Market Size -$Million / $Billion)
    11.1. < 10 MMBTU/hr
    11.2. 10-20 MMBTU/ht
    11.3. 20-50 MMBTU/hr
    11.4. 50-100 MMBTU/hr
    11.5. 100-200 MMBTU/hr
    11.6. 200-400 MMBTU/hr
    11.7. >400400 MMBTU/hr
12. China Industrial Boilers Market – By Heat Source (Market Size -$Million / $Billion)
    12.1. Coal
    12.2. Electric
    12.3. Gas-fired
    12.4. Oil-fired
    12.5. Others
13. China Industrial Boilers – By End User(Market Size -$Million / $Billion)
    13.1. Segment type Size and Market Share Analysis 
    13.2. Application Revenue and Trends by type of Application
    13.3. Application Segment Analysis by Type
        13.3.1. Commercial
        13.3.2. Energy and Power
        13.3.3. Oil and Gas
        13.3.4. Chemical Manufacturing
        13.3.5. Food and Beverages
        13.3.6. Metals & Mining 
        13.3.7. Paper and Pulp
        13.3.8. Others
14. China Industrial Boilers - By Sales Channel (Market Size -$Million / $Billion)
    14.1. Online
    14.2. Offline
15. China Industrial Boilers Market - Entropy
    15.1. New product launches
    15.2. M&A's, collaborations, JVs and partnerships
16. China Industrial Boilers Market – Industry / Segment Competition landscape Premium Premium
    16.1. Market Share Analysis
    16.2. Market Share by type of Application – Top 10 companies
    16.3. Market Share by type of Product / Product category- Top 10 companies
    16.4. Market Share at global level- Top 10 companies
    16.5. Best Practises for companies
18. China Industrial Boilers Market Company Analysis
    18.1. Market Share, Company Revenue, Products, M&A, Developments
    18.2. Babcock & Wilcox
    18.3. Dongfang
    18.4. AC Boilers
    18.5. Bharat Heavy Electricals Limited
    18.6. Harbin Electric Group
    18.7. Company 6
    18.8. Company 7
    18.9. Company 8
    18.10. Company 9
    18.11. Company 10