Product Code: ETC024164 | Publication Date: Aug 2023 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Boilers Market registered a decline of -9.59% in value shipments in 2022 as compared to 2021 and an increase of 13.92% CAGR in 2022 over a period of 2017. In Boilers Market India is becoming less competitive as HHI index in 2022 was 6060 while in 2017 it was 2698. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Boilers Market.
India is one of the largest markets for boilers in Asia. The India boilers market size was valued at $622 million in 2020, and is projected to reach $845 million by 2026, registering a CAGR of 4.6% from 2020 to 2026. Boilers find application across diverse end-use industries including power generation, food processing industry, paper & pulp industry and chemical & petrochemical industry among others. For instance, according to Department of Industrial Policy & Promotion (DIPP), total installed capacity for electricity generated from thermal sources stood at 196 GW in FY19 with majority contribution coming from coal-based power plants where boiler forms an integral part of the system.
The primary drivers for growth in demand for boilers include growing demand for energy efficient systems coupled with increasing investments towards modernization & expansion activities across manufacturing facilities especially within food processing sector due to continuously changing consumption pattern and rising disposable income among consumers throughout the country. Moreover, rapid industrialization accompanied by increased government initiatives such as Make In India program are further expected spur up development projects which will eventually lead to augmentation in installation base of boilers over the forecast period.
On contrary some major challenges faced by boiler manufacturers include stringent regulatory compliances associated with emission control norms imposed by local authorities on emissions generated during operation which results into higher capital costs involved while installing these units thereby causing hindrance towards its adoption rate amongst small scale players operating through out region who operate on limited budget constraints.. Additionally , availability issues related with raw materials such as steel used during production process might also result into frequent price fluctuation thus making it difficult for manufacturer?s planning their long term strategies efficiently .
Over past few years there has been considerable shift witnessed towards adoption renewable sources such as solar PV and wind resources as compared conventional energy sources such as coal or natural gas based systems resulting into slow down effect observed within local boiler market place . However despite this fact most large scale enterprises still prefer usage of traditional fuel types instead opting more expensive yet cleaner options owing mainly cost benefits associated with former ones along better efficiency delivered by them .
Some key players operating within India Boiler Market includes Thermax Ltd., Forbes Marshall Pvt Ltd , IBL Industrial Solutions ltd , ABB India limited , Cleaver Brooks Inc., Alfa Laval inc etc..
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Boilers Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Boilers Market Revenues & Volume, 2020 & 2030F |
3.3 India Boilers Market - Industry Life Cycle |
3.4 India Boilers Market - Porter's Five Forces |
3.5 India Boilers Market Revenues & Volume Share, By Capacity, 2020 & 2030F |
3.6 India Boilers Market Revenues & Volume Share, By Product, 2020 & 2030F |
3.7 India Boilers Market Revenues & Volume Share, By Fuel, 2020 & 2030F |
3.8 India Boilers Market Revenues & Volume Share, By Application, 2020 & 2030F |
4 India Boilers Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Boilers Market Trends |
6 India Boilers Market, By Types |
6.1 India Boilers Market, By Capacity |
6.1.1 Overview and Analysis |
6.1.2 India Boilers Market Revenues & Volume, By Capacity, 2020-2030F |
6.1.3 India Boilers Market Revenues & Volume, By <10 MMBtu/hr, 2020-2030F |
6.1.4 India Boilers Market Revenues & Volume, By 10-50 MMBtu/hr, 2020-2030F |
6.1.5 India Boilers Market Revenues & Volume, By 50-100 MMBtu/hr, 2020-2030F |
6.1.6 India Boilers Market Revenues & Volume, By 100-250 MMBtu/hr, 2020-2030F |
6.1.7 India Boilers Market Revenues & Volume, By >250 MMBtu/hr, 2020-2030F |
6.2 India Boilers Market, By Product |
6.2.1 Overview and Analysis |
6.2.2 India Boilers Market Revenues & Volume, By Fire-tube, 2020-2030F |
6.2.3 India Boilers Market Revenues & Volume, By Water-tube, 2020-2030F |
6.3 India Boilers Market, By Fuel |
6.3.1 Overview and Analysis |
6.3.2 India Boilers Market Revenues & Volume, By Natural Gas , 2020-2030F |
6.3.3 India Boilers Market Revenues & Volume, By Oil, 2020-2030F |
6.3.4 India Boilers Market Revenues & Volume, By Coal, 2020-2030F |
6.4 India Boilers Market, By Application |
6.4.1 Overview and Analysis |
6.4.2 India Boilers Market Revenues & Volume, By Residential, 2020-2030F |
6.4.3 India Boilers Market Revenues & Volume, By Commercial, 2020-2030F |
6.4.4 India Boilers Market Revenues & Volume, By Industrial, 2020-2030F |
6.4.5 India Boilers Market Revenues & Volume, By Utility, 2020-2030F |
7 India Boilers Market Import-Export Trade Statistics |
7.1 India Boilers Market Export to Major Countries |
7.2 India Boilers Market Imports from Major Countries |
8 India Boilers Market Key Performance Indicators |
9 India Boilers Market - Opportunity Assessment |
9.1 India Boilers Market Opportunity Assessment, By Capacity, 2020 & 2030F |
9.2 India Boilers Market Opportunity Assessment, By Product, 2020 & 2030F |
9.3 India Boilers Market Opportunity Assessment, By Fuel, 2020 & 2030F |
9.4 India Boilers Market Opportunity Assessment, By Application, 2020 & 2030F |
10 India Boilers Market - Competitive Landscape |
10.1 India Boilers Market Revenue Share, By Companies, 2023 |
10.2 India Boilers Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |