As per the latest report by Market Research Future (MRFR), the global boiler control market is slated to attain a substantial valuation at a 6.01% CAGR over the assessment period. Boilers are used to generate hot water and steam that is typically used in industrial processing plants and commercial complexes. These boilers require a control system to help in smooth functioning of the boiler by integrating control function of burner and maintain safety of the boiler with accurate fuel-air ratio. The boiler control system can be controlled in two ways, namely, modulating control and on/off control.
Competitive Landscape
The
key players identified by MRFR in the global boiler control market include ABB
(Switzerland), Burnham Commercial (US), Cleaver-Brooks (US), Emerson (US), HBX
Control systems (Canada), Honeywell (US), Schneider (France), Siemens
(Germany), Spirax Sarco (UK), and Yokogawa (Japan).
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Drivers and Trends
The
growth of the global boiler control market is primarily driven by the growing
need for energy-efficient equipment to control water and steam pressure.
Moreover, the market growth is also influenced by the increasing investments
towards energy efficiency across the globe, especially in smart cities, for
improving energy security, energy cost savings, and reducing the greenhouse gas
footprint caused by global industrialization.
These initiatives are expected to have a notable impact on the demand
for boiler control systems over the review period. In addition to this, the
growing demand from the power generation industry is also a driving factor for
the market. The increasing global population has led to a significant rise in
the need for electricity and power generation. Companies in the power
generation sector are also focusing on renewable sources such as thermal, hydro
nuclear, and others, which have a significant usage for boiler control systems.
Thus, these factors are expected to contribute significantly towards the market
growth over the review period.
Segmental Analysis
The
global boiler control systems market have been segmented on the basis of type, component,
control type, and end-user.
Types
of boilers available in the market are fire-tube and water-tube boilers. Among
these, the water-tube boiler holds a relatively more significant market share,
owing to their applications in industries including chemical, metal and mining,
power generation, and oil and gas, to produce steam on a large scale.
Based
on the control type, the market has been segmented into modular and on/off. The
modular segment is estimated to dominate the market share over the review
period, driven by its broad adoption in large power plants coupled with low
energy losses.
The
end-users present in the global boiler control market are industrial and
commercial. The industrial segment is assessed as the most significant and
fastest-growing segment during the forecast period. This growth is attributed
to the broad scope of applications of boiler control systems in the industrial
sector, along with the increasing efforts being taken towards the expansion and
improvement of the industrial sector in developing countries.
Regional Analysis
Based
on the region, the global boiler control market is segmented into North
America, the Asia Pacific, Europe, and the rest of the world.
The
North American market for boiler control systems is expected to register the
largest market share, owing to the increasing need for power generation in the
region. Moreover, the governments of the developed countries in the region,
such as the US and Canada, are investing extensively towards energy efficiency,
and the emphasis on renewable energy sources. The presence of established
industries for energy and power, mining, among others, also contribute towards
the demand for boiler control systems in the region. These factors offer
favorable conditions for the growth of the North American boiler control market
over the assessment period.
The
Asia Pacific is one of the significant regions in the global boiler control
market and is predicted to witness the highest growth over the review period.
This is primarily attributed to the increasing government investments towards
power generation, in developing countries with population growth such as India,
China, Japan, among others. Additionally, the growing industrialization,
electrification, and adoption of the Industrial Internet of Things (IIoT) are
expected to impact the demand for boiler control systems and consequently fuel
the market growth.
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