As per Persistence Market Research analysis, the global high power industrial burners market is projected to be valued at around US$ 1.4 Bn in 2021, expanding at a CAGR of 4.1% over the forecast period of 2021-2031. Compact design, quite operation, coupled with low capital cost are the prime reasons adding to extensive use of high power industrial burners.
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The ongoing crisis caused by the COVID-19 pandemic has resulted in disruption of supply chain networks and manufacturing activities. Although sales of high power industrial burners is understood to have plummeted during the initial stages of the pandemic, with regional manufacturing sector operations reviving toward threshold rates, the market is expected to recover sharply over subsequent years.
Key Takeaways from Market Study
- 1 to 5 MW high power industrial burners are anticipated to observe prominent share (volume basis) owing to enhanced application in the industrial sector coupled with custom offerings by OEMs.
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- High velocity burners are being adopted extensively, thanks to their low NOx emission and high flame stability. These burners are anticipated to cross the 20% share mark by 2031 on a volume basis.
- From a manufacturing stance, a handful of high power industrial burner manufacturers may focus on adopting composite and hybrid raw materials, as their efficacy in diverse application environments remains to be tested.
- On the basis of end use, the oil & gas industry is expected to create significant opportunity for high power industrial burner suppliers over the coming years.
- Europe is currently one of the fastest-growing markets and is anticipated to observe rapid rise in industrial automation. Additionally, implementation of Industry 4.0 norms will provide lucrative opportunities for high power industrial burner manufacturers.
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