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24 August 2022

Douglas Insights Expands Its Comparision Engine With Industrial Burners Market Research Report

Douglas Insights has extended its comparison engine by including Industrial Burners Market research reports and enabling stakeholders, end-users, industry experts and investors to review the market size, share, revenue, regional and global market trends. Douglas Insights employs advanced algorithms to filter the related industry research and uses publisher rating and data to analyse pricing, market trends and strategies as per the published date and list of tables. 

 

Due to its growing LNG and chemical industry, the industrial burners market is dominated by the Asia Pacific region, specifically the ASEAN countries. India is the fastest growing industry and will lead the growth in the coming decade. North America is the second largest stakeholder in the industrial burners market because of the region's increasing demand for natural gas resources, petrochemical-based goods, and oil. The major North American power companies are looking to upgrade their outdated power plants for refined and cheaper electricity sources, leading to investments in the chemical industry and accelerating the industrial burners market.

 

The key stakeholders in the industrial burners market are Weishaupt Group, Honeywell International Inc., Andritz AG, Baltur S.p.A, OILON GROUP OY, Selas Heat, Technology Company and Webster Combustion, Limpsfield Combustion Engineering, John Zink Company, LLC, Forbes Marshall Private Limited, Faber Burner Company, Miura America Co., LTD., Wesman Group, Alzeta Corporation, Webster Combustion Technology, LLC, Oxilon Pvt. Ltd, and AGF Burner, Inc, among others. 

 

The increase in energy consumption will fuel the demand for industrial burners in power plants. The global mandate for electricity took a 1% hit in 2021 but is expected to recoup losses and grow in 2022. Asia Pacific countries like China alone will contribute to the increase in electricity demand and accumulate 50% of their market share. Additionally, India, the third largest electricity consumer, will bring the rear of the energy demand. As per the latest trends, the electricity demand will keep increasing at a steady rate of 2.1% until 2040, leading to a 5% increase in the overall energy consumption. 

 

The energy production segmentation will have the highest share of market revenue in the forecast period as industrial burners are imperative for coal-based, turbine-base, diesel-based and steam-based power plants.  

 

Developing countries of Asia Pacific are leaning toward rapid industrialisation and urbanisation, which furthers the demand for industrial boilers to meet their energy needs. South Asian countries like India are constantly growing in population, increasing their energy consumption and the demand for the industrial burners market. The rise in energy consumption can also be attributed to lifestyle improvement in the countryside as more and more areas are coming into the development fold of the country.

 

The market restraints include the high-cost boiler-based burners production and the exhaustive investment requirements to research and develop economic alternatives. Raw materials used in the industrial burners are expensive and not widely available; therefore, companies need to spend a lot on sourcing and retaining the materials, which impedes the growth of the industrial burners market. 

 

Furthermore, the technology used in the construction of industrial boilers is novel and requires skilled industry experts for execution. The non-renewable energy sources used to fuel industrial burners have quite damning consequences on the environment and are criticised for safety protocols. Budget-friendly industrial burners don't last long, and their vendors offer no or unsatisfactory customer support. The high-scale application of burners affects the industrial burners market by increasing manufacturing prices. 

 

Despite the restraints, the industrial burners market will grow steadily because of the growing energy demands and the essential industries in most countries depending on their energy consumption. 

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