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Industrial Boilers Market Growth Analysis | 2025-2030
Industrial Boilers Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2025-2030
The industrial boilers market was estimated at USD 16.2 billion in 2024 and is likely to grow at a CAGR of 3.4% during 2025-2030 to reach USD 19.91 billion in 2030.
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Industrial boilers are closed vessels in which fuel (natural gas & biomass, oil, coal, etc.) is used to heat water or generate steam for industrial heating and humidification applications.
Industrial boilers can be classified on the basis of the method of heat exchange; fire-tube boilers feed hot gases as a heat source through tubes, whereas water-tube boilers feed water through tubes, and the water gets heated from the heating elements surrounding the tubes.
The prime factor contributing to the demand for industrial boilers is mainly:
Some of the factors that drive the industrial boiler market include the need to produce heat at the lowest possible cost, the need to meet environmental standards that support clean technologies, and the expansion of industries across the globe. Technological tools like the use of predictive maintenance and materials engineering improve overall production and efficiency, as well as the reliability of the systems in use. The cooperation between technology suppliers and industries drives market growth, and investments in developments such as advanced control systems change industrial boilers.
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Some of the major industrial boiler manufacturers are:
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
|
Boiler Type Analysis |
Fire-tube, Water-tube |
The fire-tube boiler type segment is expected to remain the dominant segment. |
|
Fuel Type Analysis |
Natural Gas & Biomass, Oil, Coal, and Others |
The natural gas & biomass segment dominates the market. |
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End-Use Industry Type Analysis |
Chemical, Food, Refineries, Metals & Mining, and Others |
The chemical industry segment dominates the market. |
|
Boiler Horsepower Type Analysis |
10-150 BHP, 151-300 BHP, and 301-600 BHP |
The 10-150 BHP segment dominates the market. |
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Regional Analysis |
North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]. |
Asia-Pacific is expected to be the dominant as well as fastest-growing region in the market in the coming five years. |
"The fire-tube boiler segment accounted for the largest market share."
Based on the type of boiler, the market is segmented into firetubes and watertubes. The fire-tube boiler type segment held the largest share of the market in 2024 and is expected to remain dominant during the forecast period. The wide use of fire-tube boilers due to their compact design and higher efficiency in operation is driving the growth of the segment.
"The natural gas & biomass segment accounted for the largest market share."
Based on the fuel type, the market is segmented as natural gas & biomass, oil, coal, and others. The natural gas & biomass segment dominates the market, as natural gas-powered industrial boilers are widely used in various end-use industries such as chemical, food, and metals & mining industries. The incessant replacement of non-renewable fuel, coal, with a renewable fuel, natural gas, is likely to drive the natural gas & biomass segment of the market during the forecast period.
"The chemical industry segment accounted for the largest market share."
Based on the end-use industry type, the industrial boilers market is segmented as chemical, food, refineries, metals & mining, and others. The chemical industry segment dominates the market, whereas the food industry is expected to grow at the highest CAGR in the market during the forecast period. Increasing expansions by the food & beverage and chemical industries are fueling high growth in the market over the coming years.
"The 10-150 BHP segment accounted for the largest market share."
Based on the boiler horsepower type, the industrial boilers market is segmented as 10-150 BHP, 151-300 BHP, and 301-600 BHP. The 10-150 BHP segment dominates the market, as they are extensively used in most of the end-use industries.
"Asia-Pacific accounted for the largest market share."
In terms of regions, Asia-Pacific is expected to be the dominant as well as fastest-growing region in the market in the coming five years. The highest growth of the region is attributed to rapid industrialization in the region’s emerging economies, such as India and China. The increasing number of refineries among the various countries of the region is boosting the demand for industrial boilers in the Asia-Pacific region.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s industrial boilers market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The industrial boilers market is segmented into the following categories:
By Boiler Type
By Fuel Type
By End-Use Industry Type
By Boiler Horsepower Type:
By Region
Click here to learn the market segmentation details.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Industrial boilers are closed vessels in which fuel (natural gas & biomass or oil or coal, etc.) is used to heat water or to generate steam for industrial heating and humidification applications.
The industrial boilers market was estimated at USD 16.2 billion in 2024.
The industrial boilers market is likely to reach USD 19.91 billion in 2030.
The industrial boilers market is likely to grow at a CAGR of 3.4% during 2025-2030.
Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation, Siemens AG, General Electric Company, Amec Foster Wheeler plc, Bharat Heavy Electricals Limited, Harbin Electric Corporation, IHI Corporation, Mitsubishi Hitachi Power Systems, Ltd., and Thermax Limited are among the key players in the market.
Asia-Pacific is expected to be the fastest-growing market during the next five years.
The fire tube boiler type segment is expected to remain dominant in the market.
The prime factor contributing to the demand for industrial boilers is mainly the rapid growth in the industrial sector along with the increasing demand for eco-friendly boilers in compliance with stringent emission regulations.
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