North America Enjoys One-fifth Share of Global Industrial Burner Market: Persistence Market Research Study
NEW YORK CITY, NEW YORK, UNITED STATES, August 11, 2022 /EINPresswire.com/ — The “industrial burner market” is estimated to expand at a value CAGR of 4.8% during the forecast period of 2022-2032 to reach a market valuation of US$ 10.3 Bn by 2032.
Industrial burners are comparatively simple to install as compared to other equipment used for heating and burning applications across industries.
Even for large-scale manufacturers with a flexible expense threshold, their upkeep remains low-budget. Furthermore, new products entering the global industrial burner market are becoming more compact, which is encouraging metal industry firms to embrace them. The efficiency of such tiny and simple-to-install industrial burners has also been maintained by manufacturers.
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With increasing emphasis on lowering carbon footprint, leading companies are investing heavily in enhancing the ability of burners to reduce pollutant levels. A burner that can decrease or eliminate greenhouse gases such as NOx will generate major prospects for market players over the forecast period.
Sales Analysis of Industrial Burners (2017 to 2021) Vs. Market Projections (2022 to 2032)
From 2017 to 2021, the market for industrial burners expanded at 1.7% CAGR and is anticipated to increase by 4% in 2022. This significant increase in Y-o-Y growth in 2022 is because of the sudden increase in manufacturing and other industrial activities post COVID-19 in 2020.
For decades, controlling the fuel-to-air ratio has remained a critical task while employing burners in large-scale industrial applications. Now, almost every other industrial burner is equipped with an electronic module that enables fuel-to-air ratio control functions.
Advantages of modern electronic control systems that are replacing traditional relay control include the availability of diverse functions such as the modulation of burners according to the configured fuel-to-air ratio. Industrial burners are equipped with lambda (AFR) sensors that make the monitoring of this ratio in internal combustion operations highly accurate.
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Key Takeaways from Market Study
By burner type, the high velocity burners segment is projected to hold a market share of more than 19% on a volume basis by 2032.
The oil burners segment is expected to hold the largest market share of more than 40% in the position segment.
By end-use industry, the metal & metallurgy segment is estimated to create an absolute $ opportunity worth US$ 1.09 Bn by 2032.
By region, the market in South Asia & Pacific is projected to grow at a CAGR of 6% through the forecast period.
China and the U.S. are projected to register an absolute $ opportunity of than US$ 1.19 Bn, collectively, from 2022 to 2032.
“Expanding manufacturing sector in South Asia & Pacific, coupled with significant government initiatives and financial assistance, will provide lucrative opportunities for industrial burner manufacturers over the coming years,” says a Persistence Market Research analyst.
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The global industrial burner is moderately consolidated among tier i and tier ii players. Leading players account for 20% to 25% share of the market on a value basis.
Some of the key players in this industry include, but are not limited to, Andritz AG, Baltur S.p.A, Faber Burner Company, Forbes Marshall Private Limited, Honeywell International Inc., John Zink Company, LLC, Limpsfield Combustion Engineering, Miura America Co., LTD., and OILON GROUP OY.
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