Market Study on Industrial Burners: Usage of Oil Burners to Remain High Over Decade
New York, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The industrial burner market is estimated to expand at a value CAGR of 4.8% during the forecast period of 2022-2032 to reach a market growth of US$ 10.3 Bn by 2032.
Industrial burners are comparatively simple to install as compared to other equipment used for heating and burning applications across industries. Even for large-scale manufacturers with a flexible expense threshold, their upkeep remains low-budget. Furthermore, new products entering the global industrial burner market are becoming more compact, which is encouraging metal industry firms to embrace them. The efficiency of such tiny and simple-to-install industrial burners has also been maintained by manufacturers.
With increasing emphasis on lowering carbon footprint, leading companies are investing heavily in enhancing the ability of burners to reduce pollutant levels. A burner that can decrease or eliminate greenhouse gases such as NOx will generate major prospects for market players over the forecast period.
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Key Takeaways from Market Study
By burner type, the high velocity burners segment is projected to hold a market share of more than 19% on a volume basis by 2032.
The oil burners segment is expected to hold the largest market share of more than 40% in the position segment.
By end-use industry, the metal & metallurgy segment is estimated to create an absolute $ opportunity worth US$ 1.09 Bn by 2032.
By region, the market in South Asia & Pacific is projected to grow at a CAGR of 6% through the forecast period.
China and the U.S. are projected to register an absolute $ opportunity of than US$ 1.19 Bn, collectively, from 2022 to 2032.
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“Expanding manufacturing sector in South Asia & Pacific, coupled with significant government initiatives and financial assistance, will provide lucrative opportunities for industrial burner manufacturers over the coming years,” says a Persistence Market Research analyst.
The global industrial burner is moderately consolidated among tier i and tier ii players. Leading players account for 20% to 25% share of the market on a value basis.
Some of the key players in this industry include, but are not limited to, Andritz AG, Baltur S.p.A, Faber Burner Company, Forbes Marshall Private Limited, Honeywell International Inc., John Zink Company, LLC, Limpsfield Combustion Engineering, Miura America Co., LTD., and OILON GROUP OY.
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Want to Know More?
Persistence Market Research, a research and consulting firm, has published a revised market research report on the industrial burner market that contains a global industry analysis of 2017–2021 and an opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, burner type, burner design, application, fuel type, end-use industry, and region.
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