Industrial Boiler Maintenance Market Trends

Growth Drivers

• Increasing Demand for Energy Efficiency – It is expected that owing to rising environmental concerns industries are putting more emphasis on enhancing energy efficiency in their operations, which as a result increased the demand for industrial boiler maintenance. For instance, owing to outdated technology, the energy efficiency of steam boiler systems can be relatively poor since it is considered a crucial factor in industrial boiler and heating solutions in order to maintain top performance and guarantee long tube life. Therefore, a boiler should be scheduled for routine maintenance to ensure its smooth working and minimize the chance of accidents. According to recent data, the world's economy used energy over 1% more efficiently in 2022 than it did in 2021.
• Growing E-Commerce Industry – As a result, the need for warehouses is also rising which frequently requires industrial boilers for various purposes. Moreover, boilers are crucial for a variety of reasons as they supply warehouses with electricity and heating since the energy economy is important for many warehouses. Retail e-commerce sales in 2021 were over USD 5 5 trillion worldwide. Further, this value is expected to rise by more than 55% over the, reaching around USD 8 trillion by 2026.

Challenges

• Exorbitant Installation Cost of Industrial Boiler - The high installation cost is one of the major factors predicted to slow down the market growth. For instance, as site preparation, engineering, and labor expenditures are involved, the capital costs of constructing a boiler to burn waste fuel may be more than those of a straightforward gas-burning boiler. In addition, qualified personnel are needed for the installation, which is more expensive. This as a result can increase the overall cost of installation.
• Safety Concerns associated with Boilers
• Supply Chain Disruptions Leading to Delay in Maintenance and Repairs