As per a report by P&S Intelligence, the global industrial burner market generated a value of USD 6,215 million in 2022, and it will grow at a 5.5% CAGR, to touch USD 9,501 million, by 2030. This growth can be ascribed to the rising industrial sector and quick technological improvements; the rising requirement for energy generation and acceptance of standard safety rules; the growing manufacturing of automobiles; and the growing mining activities.
The requirement for industrial burners will surge with the growing utilization of burner management systems in a range of businesses. BMS controls numerous furnace components of a boiler, such as being started, functioning, and shut down securely.
A huge count of businesses is quickly accepting such systems to advance plant processes offering safe and reliable operations, which ensure better safety, save maintenance prices, and make a secure working atmosphere for plant employees. Therefore, such reasons are boosting industry development.
On the basis of type, in 2022, the high-velocity category had a significant share in the market, credited to the better effectiveness of high-velocity burners at reduced prices. Such burners also provide fast and even heat distribution, lessen the release of GHG, and are effective in drying out wetness from refractory materials. During the need for a high rate of recirculation of combustion items, these are utilized, as they offer a high grade of heat penetration while employed in a furnace.
In the coming few years, the power generation category is projected to advance at the highest CAGR, of 6.4%, credited to the growing requirement for power generation. The augmented industrial production, rising income, and quickly advancing services sector are the reasons boosting the demand for electricity. As per the International Energy Agency (IEA), in 2022, the worldwide power demand was approximately 22,500 TWh and by 2030, it is projected to surge to 25,000 TWh.
APAC is dominating the industrial burner market, and the region is projected to be in the leading position throughout the forecast period, with a worth of USD 4,276 million. This can be credited to the rising industrialization; growing petrochemical and mining doings; and governments of numerous emerging nations executing severe guidelines and numerous plans for minimizing CO2 emissions.
In APAC, the Chinese industry is dominating, and it will advance at a CAGR of above 7% in the coming few years. This is credited to the low price of labor, land, and raw materials for the growth of burners in the nation.
Hence, the rising industrial sector and quick technological improvements; the rising requirement for energy generation and acceptance of standard safety rules; the growing manufacturing of automobiles; and the growing mining activities, are the major factors propelling the industrial burner market.
