USD 2.11 billion
Report ID:
SQMIG15A2415 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|Tables:
117
|Figures:
75
Global Boiler Control Market size was valued at USD 2.11 billion in 2022 and is poised to grow from USD 2.24 billion in 2023 to USD 3.59 billion by 2031, growing at a CAGR of 6.09% in the forecast period (2024-2031).
The developing environmental issues, approximately emissions from the strength flowers have also performed a driver inside the growing reputation of the boiler manipulate systems within the marketplace. Most governments are making attractive investments in special power era initiatives, which include the funding of the Indian government within the National Electric Plan. Such tendencies are predicted to reinforce the marketplace's growth shortly. However, the high cost of putting in these structures is projected to grow this market. Moreover, many taking part in international locations like China, India, and Australia are the leading nations and contribute to the boom of the boiler control market within the Asia-Pacific area due to sizable investments being made in the electricity era and manner industries.
Increasing investments in getting old energy vegetation and growing attention on power efficiency equipment in the commercial area are further likely to reinforce the demand for boiler management systems. There are devices that are used to suppress unpleasant news, to adjust the volume of water or to reduce the pressure at the bottom of the boiler or blower. Thus, boiler maintenance is essential to ensure proper operation of the power plant and to prevent accidental damage to equipment. Furthermore, investments in Internet of Things (IoT) and real-time data can provide lucrative market opportunities for the growth of the global boiler control market.
The Boiler Control market is segmented into Boiler Type, Control Type, Component and Application. Two types of boiler major are used: water hose boilers and fire hose boilers. The water-tube boiler is used for steam production and for power generation in many industries due to its high operating pressure. It is mainly used in heavy industrial equipment and power generation. The control type is divided into modulating control and on/off control. Monitors and controls the air and fuel supply to the burner as per load requirements.
Global Market Size
USD 2.11 billion
Largest Segment
Fire-Tube
Fastest Growth
Growth Rate
6.09% CAGR
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The market has been divided worldwide based on the type into water-tube and fore-tube boiler types. The market has been divided worldwide based on the hardware and software, which further includes SCADA control system, PLC, valves, pumps, sensors, controller, and actuator. The market has been divided worldwide based on the control type into on/off and modulating control. The market has been divided worldwide based on end-users into the commercial and industrial sectors. The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
Analysis by Type
The industrial segment of the global boiler control market is expected to grow at a rapid pace during the forecast period. This can be attributed to rapid population growth in developing countries such as the Middle East, Asia and the Pacific. The technical segment is more focused on replacing the aging electrical equipment with new and more efficient systems along with artificial intelligence in the boiler control system in the power plant for maintenance that heat, flame and carbon footprint are reduced.
The commercial segment plays a key role in the boiler control market, influencing the development, adoption and evolution of control systems designed to meet the specific requirements of commercial applications Commercial boilers are commonly used in office buildings, hotels, schools, hospitals and a variety of other non-industrial areas.
Analysis by End-User
The water-tube boiler is the dominating segment used for steam production and for power generation in many industries due to its high operating pressure. It is mainly used in heavy industrial equipment and power generation. The control type is divided into modulating control and on/off control. Monitors and controls the air and fuel supply to the burner as per load requirements.
The fire-tube boiler control is the fastest growing segment and plays an important role in the efficient, effective and safe operation of a boiler. This system controls various parameters such as temperature, pressure and fuel flow, ensuring that the boiler operates at optimal specifications. The role of each boiler component in the wider boiler control market, be it fire-tube or water-tube boiler, is to integrate advanced control systems with ease.
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During the forecast period, the Asia Pacific is expected to dominate the global boiler control market due to the developing population, mainly due to multiplied demand for the electricity era, mainly in international locations which includes India, China, Australia, and Japan. The rising percentage of renewable strength sources in Southeast Asian countries is likewise driving the market growth. Attributed to the rapid business development and an increasing amount of energy plant life, the demand for boiler manipulation has surged in some of the emerging economies in Asia Pacific.
The market in North America is likewise anticipated to witness beneficial increase due to the growing strength requirement and the increasing call for efficient boiler management answers in the developed nations inclusive of the United States, Switzerland, and Australia, among others. The location has a high variety of industries and is drastically increasing electricity generation via renewables, propelling the demand for boiler management solutions in North America. North America is experiencing significant growth in the energy and electricity industry due to expanded manufacturing industries, investments in the oil and gas sector and increasing demand for energy the United States is driven by energy generation and it’s very electric. Moreover, companies are keen to invest in boiler control system to optimize boiler performance which can create an attractive market for boiler control. European countries are developing cleaner energy sources, but there is still plenty of capacity to generate electricity in conventional power plants.
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Drivers
Rising Demand for Energy-Efficient Control Systems Propelling Market Growth
Increasing Demand for Automation
Restraints
High Manufacturing Costs
High Cost of Wastage
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The competitive environment of the global Boiler Control market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority.
Top Player’s Company Profiles
Recent Developments
Rise in Globalization
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Increasing demand for boiler managers in the power era quarter due to the extended strength of technology capacities, is a chief aspect expected to pressure increase of the worldwide boiler control market over the forecast length. In addition, the growing choice of boiler manager due to its efficiency and reduced production charges, is some other component expected to gasoline increase of the market inside the forecast years. Moreover, increasing adoption of industrial IoT for actual-time selection-making is an issue expected to create a productive opportunity for increase of the global boiler manipulate market over the forecast duration. However, excessive upgrading value of ageing power plant life and shortage of standardization of protocols are a few of the factors which can also impede call for boiler manipulate and restrain increase of the worldwide boiler manipulate marketplace over the forecast duration. There has been a rise within the demand for automation to optimize the performance of boilers accompanied by means of the improved demand for boiler control within the electricity generation area will pressure the marketplace closer to growth in the forecast duration. Boiler controls have an essential position to play in stopping any accidental damage to the device used. The growing funding within the network of factors (IoT) and actual-time records will help the marketplace enlarge at an exquisite fee within the forecast length.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.11 billion |
Market size value in 2031 | USD 3.59 billion |
Growth Rate | 6.09% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Boiler Control Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Boiler Control Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Boiler Control Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Boiler Control Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
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Report ID: SQMIG15A2415