Industrial Burner Market Growth Analysis with Investment Opportunities For 2024-2033
The Business Research Company
The Business Research Company's Industrial Burner Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The industrial burner market has experienced robust growth in recent years, expanding from $5.97 billion in 2023 to $6.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to industrial expansion, energy sector demand, stringent emission regulations, shift towards energy-efficient solutions, expansion in petrochemical and refining industries.
What Is The Estimated Market Size Of The Global Industrial Burner Market And Its Annual Growth Rate?
The industrial burner market is projected to continue its strong growth, reaching $8.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to safety and reliability considerations, global environmental concerns, demand from food processing and manufacturing.
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Growth Driver Of The Industrial Burner Market
The increasing demand for oil is expected to propel the growth of industrial burner market going forward. Oil is a thick, smooth liquid that is used as a fuel and to lubricate the moving elements of machinery. Rising oil demand spurs activity in oil refining, processing, and extraction, leading to greater use of industrial burners in crucial processes. Industries such as petrochemicals, refineries, and the energy sector heavily rely on industrial burners for applications like heating, distillation, and power generation.
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Which Market Players Are Steering The Industrial Burner Market Growth?
Key players in the market include Max Weishaupt GmbH, Honeywell International Inc., Andritz AG, Baltur S.p.A, Oilon Group OY, Selas Heat Technology Company LLC, Alzeta Corporation, Oxilon Pvt. Ltd., Limpsfield Combustion Engineering Limited, John Zink Company LLC, Forbes Marshall Private Limited, Faber Burner Company, Miura America Co. LTD., WESMAN GROUP, Webster Combustion Technology LLC, AGF Burner Inc., Bloom Engineering Company, Inc., Riello S.p.A, Hamworthy Combustion Engineering Ltd., Kromschroder, North American Manufacturing, QED Combustion Inc., Selkirk Canada Corporation, Superior Combustion Industries, Thermal Solutions Products LLC, Nationwide Boiler Inc., Aereon Inc., Babcock & Wilcox, CEC Combustion Safety LLC, Coen Company Inc.
What Are The Key Trends That Influence Industrial Burner Market Size?
Major companies operating in the industrial burner market are developing innovative products such as, eco-friendly burners, to gain a competitive edge in the market. Eco-friendly burners are designed to minimize their environmental impact by reducing emissions and improving fuel efficiency.
How Is The Global Industrial Burner Market Segmented?
1) By Fuel type: Oil, Gas, Solid fuel, Dual fuel
2) By Burner Type: Radiant Burner, Direct-fired Burner, Regenerative Burner, High Thermal Release Burner, Self-recuperative Burner and Others
3) By Operating Temperature: High Temperature (> 1, 400°F), Low Temperature (< 1, 400°F)
4) By Application: Boilers, Furnaces/Forges, Air Heating/Drying, Incineration, Other Applications
Geographical Insights: Asia-Pacific Leading The Industrial Burner Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Industrial Burner Market Definition
Industrial burner refers to a mechanical device that combines fuel and air and creates a platform for combustion using an ignition source. Boiler and furnace heating system is dependent on industrial burners to control the temperature of the whole manufacturing facility as well as other heating activities that occur during production.
Industrial Burner Global Market Report 20241 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global industrial burner market report covering trends, opportunities, strategies, and more
The Industrial Burner Global Market Report 20242 by The Business Research Company is the most comprehensive report that provides insights on industrial burner market size, industrial burner market drivers and trends and industrial burner market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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