Industrial burner: Key market research findings
- APAC dominates the market geographically
- Food processing segment accounts for a majority share of the market revenue
- Key vendors – Andritz, Foster Wheeler, Limpsfield, Maxon, and MHPS
Technavio’s market research analysts predict the global industrial burner market to grow at a CAGR of more than 5% between 2016 and 2020. The market’s growth is augmented by the emergence of burner management systems. A burner management system (BMS) protects boilers from exploding as it guarantees a safe, methodical operating sequence in the start-up and shutdown of fuel fire equipment and to diminish the possibility of errors significantly by following the sequential and secure operating procedure. The emergence of smart systems, such as the BMS, ensures the safety and security of the equipment as well as that of personnel. During 2015, APAC dominated the global industrial burner market by occupying almost 38% of the overall market share. Rising investments and capacity additions in the region will trigger an increase in the demand for petrochemicals and a resultant upsurge in the sales of industrial burners.
The new market research report from Technavio provides a breakdown and analysis of the industrial burner segments based on the end-user.
“Companies using burner technology are transitioning towards renewable fuel oil (RFO) due to rising threats of emissions and climate change. RFOs are a carbon-rich liquid fuel derived from biomass that is an ideal replacement for fuel oil in a boiler for heating applications. RFO can be delivered, stored, and pumped to a heating boiler like petroleum fuel oil. Besides, RFO has many other advantages beyond sustainability,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the food processing segment will continue its dominance over the global industrial burner market by accounting for almost 25% of the overall market share. Growth in the production of coarse grains, rice, and dairy-based commodities is resulting in the growth of the global food processing industry. The growth of this industry is expected to trigger an increase in the demand for industrial burners, leading to growth in the global industrial burner market for the food processing industry.
The key vendors in the global industrial burner market include Andritz, Foster Wheeler, Limpsfield, Maxon, and MHPS. The market is characterized by the coexistence of established vendors who have an international presence and smaller regional players who limited reach and, as a result, appears to be highly fragmented. Established players mainly cater to the needs of the large-scale plants owned by international giants as they prefer vendors with a greater geographical reach to get a one-stop solution for all their requirements. Whereas, local end-user industries prefer procuring their burners from regional players mainly because it ensures timely maintenance or repairs. Stringent emission regulations will compel vendors to increase their investments in R&D to develop efficient and environment-friendly burners.
A more detailed analysis is available in the Technavio report, Global Industrial Burner Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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