Industrial burners are utilized in oil & gas, petrochemical, mining, and other industries for various applications such as space heating, reheating, process heating of raw materials, and incineration of industrial and hazardous wastes. Industrial burners offer advantages such as enhanced combustion efficiency, increased fuel savings, and reduced emissions.
The global Industrial Burner Market is estimated to be valued at US$ 13007.62 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing oil and gas exploration activities are expected to drive the growth of the Global Industrial Burner Market Size over the forecast period. As per BP Statistical Review of World Energy 2021, global proved reserves of oil and natural gas were estimated at 1,729.6 billion barrels and 6,048 trillion cubic feet respectively in 2020. Moreover, many countries worldwide are focusing on increasing domestic oil and gas production to reduce dependence on imports. For instance, the U.S. emerged as the top oil producer globally in 2018 owing to shale production. This is significantly driving demand for industrial burners from oil & gas industry applications such as crude distillation, fluid catalytic cracking, and alkylation.
Segment Analysis
Gas burners offer more efficient combustion and higher energy efficiency compared to other fuel types such as oil or coal. They can be controlled easily and result in lower flue gas emissions. Hence, most industrial processes have switched from conventional fuels to cleaner natural gas, which drives the demand for gas burners globally.
Key Takeaways
The global Industrial Burner Market is estimated to be valued at US$ 13007.62 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Regional analysis related content comprises
The industrial burner market in Asia Pacific region is expected to witness the highest growth during the forecast period. Rapid industrialization and growing manufacturing sector in countries such as China and India is driving the demand for industrial burners in this region. Additionally, supportive government policies that promote usage of natural gas and ease of doing business further boost the regional market. North America and Europe are also significant markets owing to well-established manufacturing industries and replacement demand.
Key players operating in the industrial burner market are Baker Hughes Inc., Drill Master Inc, Ulterra Drilling Technologies, National Oilwell Varco Inc., Halliburton Inc., and Schlumberger. These players focus on developing advanced gas and dual fuel burner technologies with improved combustion efficiency and reduced emissions. For instance, Baker Hughes launched its Bentwave burner in 2021 offering up to 8% reduction in NOx emissions for industrial heating applications.
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