by Industrial burners are combustion devices used in various industrial applications such as steel, petrochemicals, glass and ceramic manufacturing and others owing to their efficiency and ability to provide controlled combustion. These burners provide flame stability, reduced NOx emissions, and enhance fuel efficiency.
The global Industrial Burner Market is estimated to be valued at US$ 11291.33 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing use of gas burners across various industries such as food processing, chemicals, refineries, and steel industries is a major driver for the industrial burner market growth over the forecast period. Gas burners are highly efficient and environment-friendly when compared to diesel or fuel oil burners. With emphasis on reducing carbon footprint, various industries are shifting from coal to natural gas as fuel. This is estimated to boost the demand for gas burners during the forecast period. Furthermore, stricter emission norms by various environmental protection agencies have necessitated the adoption of cleaner combustion technologies. This is propelling the demand for low NOx burners from the industrial sector globally.
SWOT Analysis
Strength: The industrial burner market has significant demand from various end-use industries such as oil & gas, chemical, food processing, and others. The burners help in various industrial processes and heating applications in a cost-effective manner.
Weakness: Frequent maintenance and replacement of industrial burner parts increase the overall operating costs. Moreover, stringent environment regulations regarding emissions can restrict the growth.
Opportunity: Growing demand from emerging economies due to rapid industrialization offers ample growth opportunities. Furthermore, technological advancements to improve fuel efficiency and reduce emissions will drive the market in coming years.
Threats: Volatility in raw material prices and availability can hamper the smooth supply chain of industrial burners. Spread of COVID-19 pandemic has temporarily disrupted the manufacturing activities worldwide.
Key Takeaways
The Global Industrial Burner Market Share is estimated to be valued at US$ 11291.33 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
The global industrial burner market is expected to witness high growth. The Asia Pacific region dominates the market and is expected to grow at the fastest CAGR during the forecast period. Factors such as rapid industrialization, urbanization, and growing population are fueling the regional demand.
Key players operating in the industrial burner market are ADMOTECH, Cernex Inc, Quantic Corry, DiTom Microwave, ECHO Microwave, JQL Technologies Corp, Kete Microwave, L-3 Narda, M2 Global Technology, Microwave Communications Laboratories Inc, Mercury Systems Inc., Mesa Microwave, Microwave Devices Inc., Electro Technik Industrtries, Inc, Orion Microwave Inc. and others. These companies are focusing on new product launches, capacity expansion, and mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
