The global industrial burner market is witnessing significant growth owing to the growing demand from various end-use industries such as chemicals and petrochemicals, oil and gas, power generation, and food processing among others. Industrial burners are combustion devices used in various industrial processes for applications such as steam generation, kiln firing, process heating and fluid heating among others. They provide thermal energy through combustion of gaseous, liquid and solid fuels to satisfy the temperature requirements of various industrial processes. Burners ensure complete and efficient combustion while emitting low NOx and helping industries meet stringent emission regulations.
The global industrial burner market is estimated to be valued at US$ 6.5 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing emphasis on energy efficiency and reducing emissions is a key trend spurring innovations in industrial burner technology. Burners with multipoint atomization, low-NOx combustion, and modular designs are gaining popularity as they help industries significantly lower fuel consumption and carbon footprint. Advancements in materials and combustion optimization techniques enable designing of burners for wider fuel flexibility. Digitalization is also impacting burner technology with increased use of IoT sensors and data analytics tools for remote monitoring and predictive maintenance of burners. This is helping improve plant uptime and optimize combustion processes. Further, growing demand for industrial gases like hydrogen is opening up opportunities for gas burner manufacturers to develop novel burner heads and mixers suitable for clean burning of such gases.
Porter’s Analysis
Threat of new entrants: Medium. High capital requirements for equipment manufacturing act as a deterrent for new players. However, customized offerings allow new entrants to target niche customer segments.
Bargaining power of buyers: High. Buyers have numerous options and conduct multi-vendor bidding to negotiate better prices. Increased demand from Asia-Pacific region empowers buyers.
Bargaining power of suppliers: Medium. Key components like burners, valves, and controls are supplied by global players, limiting buyer dependence. However, intellectual property rights of technology providers influence choices.
Threat of new substitutes: Low. No major substitutes available for industrial burners in core application areas like oil & gas, power generation, chemical and petrochemical plants.
Competitive rivalry: High. Presence of numerous global and regional players induces price wars. Focus on product innovation, reliability and aftersales services.
Key Takeaways
The Global Industrial Burner Market Size is expected to witness high growth.
Regional analysis: The Asia Pacific region holds the major share of the global industrial burner market and is expected to maintain its leading position during the forecast period. China, India and other emerging nations are witnessing heavy investments in process industries and power projects, driving the regional demand for industrial burners.
Key players: Key players operating in the industrial burner market are Alzeta Corporation, ANDRITZ, Baltur S.p.A, Bloom Engineering, Cortem Group, Forbes Marshall, Honeywell International Inc. (Combustion and Safety Controls Solutions), Mitsubishi Hitachi Power Systems, Oilon, Osaka Gas and Webster Combustion Technology.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
