Industrial Boiler Market: By Product, Application, Technology, Fuel, Regional Outlook & Forecast, 2024 – 2030

Industrial Boiler Market size was valued at US$ 33.70 billion in 2023 and is expected to grow at 5.66% through 2024 to 2030, reaching nearly US$ 49.55 Billion.

Format : PDF | Report ID : SMR_339

Industrial Boiler Market Overview:

Boilers generates steam for power generation and various other industrial heating application.Industrial Boilers are widely used in a chemical and pharmaceuticals, metal, food and beverage and mining industries. Covid 19 has significantly impacted the boiler industry. With strict orders on social distancing and lockdowns, many boiler maintenance businesses have been unable to provide Maintenance services as regularly as they once did. However, despite these challenges, now several boiler maintenance businesses have opened and provided their services by issuing protocols on COVID-19.

The report analyses the Global Industrial Boiler Market's Drivers, Restraints, opportunities, challenges, and segments (Product, Application, Technology, Fuel, Regional) which helps to assess the market growth. The report also shows the current situation of the Global Industrial Boiler market. Each segment is carefully analyzed on the basis of market size, CAGR, market share, consumption, revenue and other vital factors.

Industrial Boiler Market

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Industrial Boiler Market Dynamics:

The rapid development of industries across the globe and the increasing demand for high-quality, energy-efficient boilers are a reason to boost the industrial boiler market. Moreover, technical developments and advanced technology used to reduce carbon emissions are likely to drive the Industrial Boiler market.

Coal is used as a fuel to operate Boilers. The increasing demand for coal in coming years is concerned about high carbon emission which is a restraint for the Industrial Boiler market Growth.

High capital and installation costs of Industrial boilers and the faraway location of manufacturers from suppliers are the major market challenges for the industrial Boilers market growth.

Industrial Boiler Market Segment Analysis:

By Type, The Fire-tube boiler is working on a pressure up to 20 bar. It requires more floor area and Load fluctuation cannot be handled easily so this type of industrial boiler is only used for small power plants. The water-tube boiler segment is more suited to high-pressure steam generation as small tubes can maintain high pressure better and are less vulnerable to fracturing and failure. The Water-tube boiler segment of the industrial boiler market held the highest share of 60% in 2020. This segment is projected to witness a CAGR of 6.5% in the forecast period (2024-2030).

Industrial Boiler Market

By Application, the segments are Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages, Metals & Mining, and Others.

The Chemicals & Petrochemicals segment is the largest end-use industry in the Global Industrial Boiler Market and is projected to continue the growth, owing to the increasing demand for high-quality steam for the production of chemicals.

Food & Beverages industries required heat or steam at various stages including batching, processing, steaming, and cleaning. As a result, it has become a necessity to install boilers at F&B facilities, which will substantially increase the Boiler market size.

By Technology, Condensing Boilers segment is 25 % more efficient than non-condensing boilers because condensing boilers capture up to 11% more heat than non-condensing boilers.The higher efficiency of condensing boilers results in savings of up to 4250.65 USD per year, according to the Energy Saving Trust. The condensing boiler segment is expected to grow on a wide range as the industries use boilers on a larger scale.

By Fuel, the Natural gas segment is expected to lead the industrial boiler market because of their easy availability and due to low co2 emissions. In biomass fuel type Wood pellets, wood chips or plant materials are used as Biomass. The use of poor quality fuel can cause increased emissions, low efficiency, failure of a component, repair costs, high running costs and poor performance of the system.

Industrial Boiler Market Regional Insights:

Asia Pacific countries such as China, India, Australia, Japan, and Singapore are growing in terms of the economy due to rapid growth in industrialization. As per the IEA, Asia Pacific is expected to account for two-thirds of the global energy demand growth. Asia Pacific Industrial Boiler Market is expected to grow at the highest CAGR between the forecast period of 2024 - 2030.

Europe dominated the industrial Boiler Market for industrial boilers by accounting largest revenue share of 34.1% in 2020. The European government’s tight limits on hazardous emissions in the environment are likely to stimulate demand for industrial boilers.

China has replaced coal-fired boilers with natural gas boilers or electric boilers has become the latest trend in the Industrial boiler market size in China is expected to reach 3.2 billion estimated to grow at 5.66% through 2024 - 2030.

In 2020, the top exporters of Boiler Plants were china ($494M), Japan ($165M), India ($119M), and Germany ($112M).In 2020, the top importers of Boiler Plants were Indonesia ($329M), the U.S ($117M), Brazil ($115M), and Japan ($79.1M).

Industrial Boiler Market Scope

Industrial Boiler Market
Market Size in 2023	USD 33.70 Bn.
Market Size in 2030	USD 49.55 Bn.
CAGR (2024-2030)	5.66 Percent
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type Fire-tube Water-tube
Segment Scope	by Distribution Channel Paper & Pulp Food & Beverages Metals & Mining Others.
	By Technology Condensing Non-condensing By Fuel Natural Gas Oil Coal Other
	By Fuel Natural Gas Oil Coal Other
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

Industrial Boiler Market Key Players

Bharat Heavy Electricals
A.O. Smith
Parker
Cleaver-Brooks
Thermax
Weil-McLain
Fulton
General Electric
Babcock and Wilcox
Forbes Marshall
Burnham
Hurst Boiler and Welding
Cochran
DEC
John Wood Group PLC
IHI Corporation
Mitsubishi Hitachi Power Systems, Ltd.
ANDRITZ
ALFA LAVAL
Bryan Steam
Superior Boiler Works, Inc.
Vapor Power
Sofinter S.p.a, AB&CO GROUP
ZOZEN boiler Co., Ltd.

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Frequently Asked Questions

What is the Type of Global Industrial Boiler Market as per segment analysis?

Fire-tube boiler and water-tube boiler are Global Industrial Boiler Market types as per segment analysis.

What is expected to drive the growth of the Global Industrial Boiler Market in the forecast period?

The rapid development of industries across the globe and the increasing demand for energy-efficient boiler systems is a reasons to boost the industrial boiler market.

What is the projected market size & growth rate of the Global Industrial Boiler Market?

Global Industrial Boiler Market size was valued at US$ 33.70 Billion in 2023 and Global Industrial Boiler Market is expected to grow at 5.6% through 2024 to 2030, reaching nearly US$ 49.55 Billion.

What segments are covered in the Global Industrial Boiler Market report?

The segments covered are Product, Application, Technology, Fuel, Region.

1.   Research Methodology
1.1   Research Data
1.1.1.   Primary Data
1.1.2.   Secondary Data
1.2.   Market Size Estimation
1.2.1.   Bottom-Up Approach
1.2.2.   Top-Down Approach
1.3.   Market Breakdown and Data Triangulation
1.4.   Research Assumption

2.   Industrial Boiler Market: Executive Summary
2.1.   Market Overview
2.2.   Market Size (2023) and Forecast (2024 – 2030) and Y-O-Y%
2.3.   Market Size (USD) and Market Share (%) – By Segments and Regions

3.   Global Industrial Boiler Market: Competitive Landscape
3.1.   SMR Competition Matrix
3.2.   Key Players Benchmarking
3.2.1.   Company Name
3.2.2.   Headquarter
3.2.3.   Product Segment
3.2.4.   End-user Segment
3.2.5.   Y-O-Y%
3.2.6.   Revenue (2023)
3.2.7.   Profit Margin
3.2.8.   Market Share
3.2.9.   Company Locations
3.3.   Market Structure
3.3.1.   Market Leaders
3.3.2.   Market Followers
3.3.3.   Emerging Players
3.4.   Consolidation of the Market
3.4.1.   Strategic Initiatives and Developments
3.4.2.   Mergers and Acquisitions
3.4.3.   Collaborations and Partnerships
3.4.4.   Product Launches and Innovations
3.5.   Industrial Boiler Industry Ecosystem
3.5.1.   Ecosystem Analysis
3.5.2.   Role of the Companies in the Ecosystem

4.   Industrial Boiler Market: Dynamics
4.1.   Industrial Boiler Market Trends by Region
4.1.1.   North America
4.1.2.   Europe
4.1.3.   Asia Pacific
4.1.4.   Middle East and Africa
4.1.5.   South America
4.2.   Industrial Boiler Market Drivers
4.3.   Industrial Boiler Market Restraints
4.4.   Industrial Boiler Market Opportunities
4.5.   Industrial Boiler Market Challenges
4.6.   PORTER’s Five Forces Analysis
4.6.1.   Intensity of the Rivalry
4.6.2.   Threat of New Entrants
4.6.3.   Bargaining Power of Suppliers
4.6.4.   Bargaining Power of Buyers
4.6.5.   Threat of Substitutes
4.7.   PESTLE Analysis
4.7.1.   Political Factors
4.7.2.   Economic Factors
4.7.3.   Social Factors
4.7.4.   Technological Factor
4.7.5.   Legal Factors
4.7.6.   Environmental Factors
4.8.   Technological Analysis
4.8.1.   Low Nox Boilers
4.8.2.   Industrial IoT
4.8.3.   Remote Monitoring
4.8.4.   Technological Roadmap
4.9.   Value Chain Analysis
4.10.   Trade Analysis
4.10.1.   Import Scenario
4.10.2.   Export Scenario
4.11.   Patent Analysis
4.12.   Regulatory Landscape
4.12.1.   Market Regulation by Region
4.12.1.1.   North America
4.12.1.2.   Europe
4.12.1.3.   Asia Pacific
4.12.1.4.   Middle East and Africa
4.12.1.5.   South America
4.12.2.   Impact of Regulations on Market Dynamics
4.12.3.   Government Schemes and Initiatives

5.   Industrial Boiler Market: Global Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
5.1.   Industrial Boiler Market Size and Forecast, by Type (2023-2030)
5.1.1.   Fire-tube
5.1.2.   Water-tube
5.2.   Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
5.2.1.   Paper & Pulp
5.2.2.   Food & Beverages
5.2.3.   Metals & Mining
5.2.4.   Others
5.3.   Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
5.3.1.   Condensing
5.3.2.   Non-condensing
5.3.3.   By Fuel
5.3.4.   Natural Gas
5.3.5.   Oil
5.3.6.   Coal
5.3.7.   Other
5.4.   Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
5.4.1.   Natural Gas
5.4.2.   Oil
5.4.3.   Coal
5.4.4.   Other
5.5.   Industrial Boiler Market Size and Forecast, by Region (2023-2030)
5.5.1.   North America
5.5.2.   Europe
5.5.3.   Asia Pacific
5.5.4.   Middle East and Africa
5.5.5.   South America

6.   North America Industrial Boiler Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
6.1.   North America Industrial Boiler Market Size and Forecast, by Type (2023-2030)
6.1.1.   Fire-tube
6.1.2.   Water-tube
6.2.   North America Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
6.2.1.   Paper & Pulp
6.2.2.   Food & Beverages
6.2.3.   Metals & Mining
6.2.4.   Others
6.3.   North America Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
6.3.1.   Condensing
6.3.2.   Non-condensing
6.3.3.   By Fuel
6.3.4.   Natural Gas
6.3.5.   Oil
6.3.6.   Coal
6.3.7.   Other
6.4.   North America Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
6.4.1.   Natural Gas
6.4.2.   Oil
6.4.3.   Coal
6.4.4.   Other
6.5.   North America Industrial Boiler Market Size and Forecast, by Country (2023-2030)
6.5.1.   United States
6.5.2.   Canada
6.5.3.   Mexico

7.   Europe Industrial Boiler Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
7.1.   Europe Industrial Boiler Market Size and Forecast, by Type (2023-2030)
7.2.   Europe Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
7.3.   Europe Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
7.4.   Europe Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
7.5.   Europe Industrial Boiler Market Size and Forecast, by Country (2023-2030)
7.5.1.   United Kingdom
7.5.2.   France
7.5.3.   Germany
7.5.4.   Italy
7.5.5.   Spain
7.5.6.   Sweden
7.5.7.   Austria
7.5.8.   Rest of Europe

8.   Asia Pacific Industrial Boiler Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
8.1.   Asia Pacific Industrial Boiler Market Size and Forecast, by Type (2023-2030)
8.2.   Asia Pacific Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
8.3.   Asia Pacific Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
8.4.   Asia Pacific Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
8.5.   Asia Pacific Industrial Boiler Market Size and Forecast, by Country (2023-2030)
8.5.1.   China
8.5.2.   India
8.5.3.   Japan
8.5.4.   South Korea
8.5.5.   Australia
8.5.6.   ASEAN
8.5.7.   Rest of Asia Pacific

9.   Middle East and Africa Industrial Boiler Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
9.1.   Middle East and Africa Industrial Boiler Market Size and Forecast, by Type (2023-2030)
9.2.   Middle East and Africa Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
9.3.   Middle East and Africa Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
9.4.   Middle East and Africa Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
9.5.   Middle East and Africa Industrial Boiler Market Size and Forecast, by Country (2023-2030)
9.5.1.   South Africa
9.5.2.   GCC
9.5.3.   Egypt
9.5.4.   Nigeria
9.5.5.   Rest of the Middle East and Africa

10.   South America Industrial Boiler Market Size and Forecast by Segmentation (by Value in USD Million and Volume in Units) (2023-2030)
10.1.   South America Industrial Boiler Market Size and Forecast, by Type (2023-2030)
10.2.   South America Industrial Boiler Market Size and Forecast, by Distribution Channel (2023-2030)
10.3.   South America Industrial Boiler Market Size and Forecast, by Technology (2023-2030)
10.4.   South America Industrial Boiler Market Size and Forecast, by Fuel (2023-2030)
10.5.   South America Industrial Boiler Market Size and Forecast, by Country (2023-2030)
10.5.1.   Brazil
10.5.2.   Argentina
10.5.3.   Rest Of South America

11.   Company Profile: Key Players
11.1.   Bharat Heavy Electricals
11.1.1.   Company Overview
11.1.2.   Business Portfolio
11.1.2.1.   Product Name
11.1.2.2.   Product Details
11.1.3.   Financial Overview
11.1.3.1.   Total Revenue
11.1.3.2.   Segment Revenue
11.1.3.3.   Regional Revenue
11.1.4.   SWOT Analysis
11.1.5.   Strategic Analysis
11.1.6.   Recent Developments
11.2.   A.O. Smith
11.3.   Parker
11.4.   Cleaver-Brooks
11.5.   Thermax
11.6.   Weil-McLain
11.7.   Fulton
11.8.   General Electric
11.9.   Babcock and Wilcox
11.10.   Forbes Marshall
11.11.   Burnham
11.12.   Hurst Boiler and Welding
11.13.   Cochran
11.14.   DEC
11.15.   John Wood Group PLC
11.16.   IHI Corporation
11.17.   Mitsubishi Hitachi Power Systems, Ltd.
11.18.   ANDRITZ
11.19.   ALFA LAVAL
11.20.   Bryan Steam
11.21.   Superior Boiler Works, Inc.
11.22.   Vapor Power
11.23.   Sofinter S.p.a, AB&CO GROUP
11.24.   ZOZEN boiler Co., Ltd.