The increasing investments being made in the industrial sector in many countries, especially emerging economies such as India and China, are fueling the rapid growth of numerous industries such as the petrochemical industry in those countries. The boom of the industrial sector is a major factor responsible for the soaring requirement for boilers across the globe. Moreover, the growing requirement for energy efficient devices and systems is further pushing up the sales of boilers in several countries around the world.

Besides the aforementioned factors, the flourishing food processing industry is also boosting the sales of boilers all over the globe. Moreover, the rising initiatives being taken by various governments for promoting the progress of the food processing industry are positively impacting the demand for boilers. For example, the Indian government is providing numerous tax incentives to the small and medium enterprises (SMEs) operating in the food processing industry for setting up plants and expanding their business operations, which is, in turn, propelling the requirement for boilers in the country.

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Between the two boiler variants, the usage of the fire tube boilers is presently being observed to be significantly higher mainly because of their lower initial costs, easier handling, and higher fuel efficiency. Furthermore, the fire tube boilers have numerous applications in multiple sectors, owing to which, the sales of these boilers are considerably higher than the water tube variants, which are mainly used in the applications requiring less capacity section boilers.

Commercial and industrial (C&I) and residential are the two major application areas of boilers. Of these, the utilization of the boilers is currently being observed to be higher in the C&I applications. This is ascribed to the large-scale usage of these systems in various industries such as food and beverages and chemical. On the other hand, the residential sector is witnessing soaring usage of these systems, primarily due to the rising concerns being raised over the increasing carbon emission levels and the ballooning need for energy-efficient space heating solutions.

Speaking of end-users, food and beverages, oil and gas, chemical, textile, and power are the major industries in which the boilers are extensively used. Out of these, the usage of these systems is presently very high in the chemical industries. This is credited to the huge demand for boilers in these industries, mainly for managing the heat requirements in the various ongoing operations and processes. In addition to this, boilers are extremely affordable and enhance the operational safety in the chemical industries and are thus, widely used in these industries.

Globally, the Asia-Pacific (APAC) boiler market will register rapid advancement in the coming years, as per the estimates of P&S Intelligence, a market research firm based in India. This is attributed to the swift expansion of numerous industries such as food and beverages, power, and chemical in the APAC nations, especially China, Japan, and India. Apart from this region, the sales of boilers will also rise sharply in North America in the forthcoming years, on account of the mushrooming requirement for various end-use systems.