Water Tube Chemical Boiler Market size is estimated at USD 1.8 billion in 2024 and is predicted to cross USD 2.5 billion by 2037, growing at a CAGR of 2.8% during the forecast period from 2025 to 2037. In 2025, the industry size of water tube chemical boiler is assessed at USD 1.9 billion.
An increasing rate of industrialization and rising production of chemicals are fueling the water tube chemical boiler market expansion. In addition, the need for energy-efficient solutions in various industries is demanding fuel-efficient boilers. For instance, Bryan Boilers' BFIT introduced a 100 HP water-tube system, which is designed to meet environmental regulations with 30 to 40% annual fuel savings.
To increase the product-market fit, manufacturers are focused on reducing downtime and enhancing both performance and operating safety, digital monitoring and automation in boiler operations are being developed further. For instance, in August 2021, Prometha Connected Boiler Solutions developed apps for iOS and Android smartphones. It provides real-time data analytics and system intelligence to monitor boiler system performance remotely. Furthermore, it aims at achieving real-time monitoring and to unfold predictive maintenance of the systems.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
2.8% |
Base Year Market Size (2024) |
USD 1.8 billion |
Forecast Year Market Size (2037) |
USD 2.5 billion |
Regional Scope |
|
Technology (Non-condensing, Condensing)
The non-condensing segment consumes a significant share of 81% of the water tube chemical boiler market. The main factor for the dominance is that it tends to have relatively lower setup and maintenance costs compared to the condensing type. In addition, it comes in a simpler design making them cheaper to install and simpler to maintain in applications where consistency and reliability are major concerns. These systems can further permit use with any type of fuel, hence encouraging flexibility within the chemical industry, where the selection of fuel may be based on availability and cost.
Capacity (< 10 MMBtu/hr, 10 - 25 MMBtu/hr, 25 - 50 MMBtu/hr, 50 - 75 MMBtu/hr, 75 - 100 MMBtu/hr, 100 - 175 MMBtu/hr, 175 - 250 MMBtu/hr, > 250 MMBtu/hr)
The water tube chemical boiler market is dominated by water tube chemical boilers with less than 10 MMBtu/hr at 32.0% due to their versatility in using smaller setups for industrial operations along with specialized processes involved in some chemical applications. This capacity is especially suitable for plants with moderate heat and steam requirements owing to the increased adoption of energy-efficient and cost-effective solutions. The areas such as India, China, and Southeast Asia are rapidly industrializing and urbanizing, with a growing focus on improving the efficiency of operations.
As these economies continue to ramp up their capacities for chemical processing, the demand for <10 MMBtu/hr boilers will soar exponentially. Moreover, the growth driver includes the implementation of strict environmental regulations toward emissions so that innovative smaller, cleaner, and energy-efficient water tube boilers are made. Therefore, the <10 MMBtu/hr segment of the water tube chemical boiler market will continue to dominate in the future, following the global pace toward sustainability and optimal operational cost.
Our in-depth analysis of the water tube chemical boiler market includes the following segments
Capacity |
|
Technology |
|
Product |
|
Fuel |
|
Asia Pacific Market Statistics
Asia Pacific accounts for the largest share of the water tube chemical boiler market with 57.7%, mainly due to rapid industrialization and the presence of strong economies such as India and China, who are hugely investing in infrastructure projects and industries for advanced boiler technologies to meet demand, as well as stringent environmental regulations for power. Furthermore, ongoing urban and industrial zone expansion as well as the growing integration of renewable energy systems with current boiler units is projected to support industry growth.
China is leading, owing to its sizeable industrial base and government initiatives for carbon emissions reduction. This intent by the country to update its boiler system with newer, more energy-efficient models aligns comprehensively with lowering carbon gas emissions toward its 2060 target for carbon neutrality. Such innovations by manufacturers in China include biomass-fueled boilers and smart boiler systems. A shift from traditional coal to cleaner varieties such as natural gas and biomass is further propelling the water tube chemical boiler market.
India witnessed the trend of an increase in demand for water tube chemical boilers in energy-intensive industries and the domestic companies are focused on expanding their reach in the foreign markets. For instance, the international order booking for Thermax Limited increased from USD 13.6 billion in FY 2020-2021 to USD 18.78 billion in FY 2021-22. In addition, the local government's Make in India initiative with increased investments in infrastructure development promotes the establishment of new industrial plants with efficient and high-capacity boilers.
North America Market Analysis
The landscape of the water tube chemical boiler market in North America is influenced by stringent EPA regulations on industrial emissions such as Nitrogen oxides (NOx) and Sulfur Oxides (SOx) which push the companies to make investments in low-emission boilers. For instance, in March 2024 Babcock & Wilcox's thermal business segment signed an agreement worth USD 246 million for a significant gas conversion project at a power plant in North America. The project entails switching the plant's two coal-fired boilers, which have a combined capacity of more than 1,000 megawatts, to natural gas operation.
In the U.S., industrial energy consumption accounts for approximately about 1/3rd of total energy utilization with a remarkable portion systematically distributed into various segments such as steam generation, highlighting the significance of efficient boilers. In addition, acceleration in the adoption of boilers with the use of cleaner fuels creates lucrative opportunities in the water tube chemical boiler market. Moreover, efficiency leads to reduced operational costs and an approach towards minimizing energy expenditures.
The water tube chemical boiler market in Canada is likely to experience a surge in growth owing to the streamlined focus of provinces with a strong industrial and energy base. The nation's regulatory framework aims to achieve twofold objectives namely environmental and economic. Denoting a healthy environment and a robust economy. Key sectors contributing to the demand include oil and gas, chemicals, and power generation. Thus, industrial expansion and innovation thrust the growth.
The water tube chemical boiler market is exponentially transforming with key players that emphasize inculcating advanced technologies and smart solutions to boiler systems' operational reliability and efficacy. Additionally, these reputable businesses leverage their extensive experience and commitment to sustainability. Moreover, focusing on introducing niche applications and fostering innovation to meet the rising demand across various industries assists them in remaining competitive while striving to increase their revenue share in the market. Some of these market players are:
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?