December 13, 2024
Industrial Burner Market

Industrial Burner Market Driven By Growing Industrialization Is Estimated 

Industrial burners are combustion devices used in industrial applications for processes such as heating, drying, evaporating, and heat treating. They are used across various end-use industries such as oil & gas, chemicals, food processing, and automotive. Reciprocating industrial burners are commonly used for processes that require frequent modulation of heat input. They are primarily used in batch processes and have low fuel-air ratio control. Regenerative industrial burners are durable, flame resistant and emit lower NOx. They are ideal for continuous, steady processes requiring precise temperature control.

The global Industrial Burner Market is estimated to be valued at Us$ 11291.33 Mn in 2024 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

One of the key trends in the industrial burner market is the growing adoption of low NOx burners. Stringent emission regulations regarding NOx emissions from industries are prompting burner manufacturers to develop innovative burner technologies that can help reduce NOx emissions. For instance, Honeywell developed low NOx burner technology that can reduce NOx emissions by 30% or more. It uses advanced mixing and modulation to control flame temperature and stabilize combustion. Similarly, other players are focusing on integrating technologies like flue gas recirculation in burners. This diverts a portion of flue gases back into the combustion chamber, reducing flame temperature and subsequent NOx formation. Such innovations are expected to drive the demand for low NOx compliant burners during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as large capital investments are required to enter the market. However, the availability of new substitutes poses a threat.

Bargaining power of buyers: The bargaining power of buyers is high as the products are commoditized and buyers can switch between various suppliers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are numerous suppliers for raw materials and components.

Threat of new substitutes: The threat of new substitutes is high as producers continuously invest in R&D to develop new technologies for greater efficiency and reduced emissions.

Competitive rivalry: Competition in the market is high among existing players.

Key Takeaways

The Global Industrial Burner Market Demand is expected to witness high growth. The global Industrial Burner Market is estimated to be valued at US$ 11291.33 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Asia Pacific region dominates the market currently due to strong presence of manufacturing industries in China, India, and Japan. In Asia Pacific, China is the major market for industrial burners followed by Japan and India. Countries like China, India are experiencing rapid industrialization which is increasing the demand for industrial burners in various end use industries like petrochemicals, refinery, cement etc. North America and Europe are also significant markets however growth rate is expected to be moderate.

Key players:

Key players operating in the Industrial Burner Market are Baker Hughes Inc., Drill Master Inc, Ulterra Drilling Technologies, National Oilwell Varco Inc., Halliburton Inc., Schlumberger, Atlas Copco AB and Scientific Drilling International Inc. Baker Hughes and Drill Master collectively account for over 30% of the global market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

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