PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1700509
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1700509
The industrial boiler market is projected to reach USD 20.75 billion by 2030 from USD 17.22 billion in 2025, at a CAGR of 3.8% during the forecast period. As industries expand across sectors such as power generation, chemicals, food processing, and manufacturing, the need for reliable and high-capacity steam and hot water boilers continues to surge. Developing economies, particularly in Asia-Pacific, are witnessing significant investments in industrial infrastructure, further fueling market expansion. Additionally, government initiatives promoting cleaner energy sources and stricter environmental regulations are pushing industries to upgrade their boiler systems to more efficient and low-emission models. The transition from coal-fired boilers to natural gas, biomass, and hydrogen-based alternatives is another major factor driving market growth, as companies seek to comply with stringent emission norms such as the EPA's Boiler MACT standards and the EU Industrial Emissions Directive (IED). Moreover, advancements in boiler technology, including automation, smart monitoring, and waste heat recovery systems, are enhancing efficiency and reducing operational costs, making modern boilers a more attractive investment. The increasing adoption of cogeneration (combined heat and power) systems in industrial settings is also propelling demand, as these systems optimize fuel usage while reducing energy waste. Additionally, aging boiler infrastructure in developed nations is creating opportunities for market players offering retrofitting and modernization services.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million), Volume (Units) |
Segments | Fuel , Boiler Type, Boiler Horsepower, Function, End-use Industry and Region |
Regions covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa |
"Natural gas is the second fastest-growing segment in the industrial boiler market during the forecast period."
Natural gas-fired boilers are widely used in industrial applications due to their high efficiency, lower emissions, and cost-effectiveness compared to traditional coal-fired systems. These boilers utilize natural gas as the primary fuel source to generate steam or hot water, making them a preferred choice for industries such as power generation, chemicals, food processing, and manufacturing. The increasing availability of natural gas, stringent environmental regulations, and the global push for cleaner energy have significantly driven the adoption of natural gas-fired boilers across various sectors. One of the major advantages of natural gas-fired boilers is their low emissions profile. Unlike coal-fired boilers, they produce fewer greenhouse gases, lower sulfur dioxide (SO2), nitrogen oxides, and particulate matter emissions. This makes them compliant with strict environmental standards such as the EPA's Boiler MACT regulations and the European Industrial Emissions Directive (IED). Additionally, natural gas-fired boilers offer higher combustion efficiency, lower maintenance costs, and faster startup times compared to conventional solid-fuel boilers. The market for natural gas-fired boilers is expanding rapidly due to industrialization, the shift towards low-carbon energy sources, and government incentives promoting cleaner fuels.
"Water tube is the fastest-growing structure in the industrial boiler market during the forecast period."
Water-tube boilers are high-performance steam-generating systems where water flows through tubes while hot gases from the combustion process surround them. This design allows these boilers to handle higher pressures and temperatures, making them ideal for industries that require large steam outputs, such as power generation, chemical processing, refineries, and heavy manufacturing. Unlike fire-tube boilers, where hot gases pass through tubes surrounded by water, water-tube boilers offer better heat transfer efficiency, faster steam generation, and the ability to operate at extreme conditions. One of the key advantages of water-tube boilers is their ability to withstand pressures up to 160 bar and temperatures exceeding 550°C. This makes them essential in thermal power plants and industrial applications requiring superheated steam. Additionally, they have a small water content, which enables quick response to load changes, making them more efficient and safer. Their design can accommodate multiple burners, allowing for horizontal or vertical firing configurations, which is beneficial for temperature control and optimizing performance. Water-tube boilers can be either naturally circulated or forced circulation systems. In naturally circulated boilers, steam and water movement is driven by density differences, while forced circulation systems use pumps to enhance steam production. To improve efficiency, modern water-tube boilers are often integrated with waste heat recovery systems, automation, and digital monitoring technologies.
"The Middle East and Africa (MEA) market is projected to register the second fastest growing market for industrial boiler during the forecast period."
The Middle East & Africa (MEA) industrial boiler market is experiencing growth due to rapid industrialization, rising energy demand, and expanding oil & gas, petrochemical, and power generation sectors. Countries like Saudi Arabia, the UAE, South Africa, and Egypt are witnessing significant infrastructure development, driving the demand for high-efficiency industrial boilers. The region's focus on diversifying economies beyond oil exports has led to increased investments in manufacturing, food processing, and chemical industries, further fueling the need for advanced boiler systems.
A key growth driver is the expansion of the power sector to meet the rising electricity demand. Many countries are investing in thermal power plants, cogeneration (combined heat and power) systems, and renewable energy projects, all of which require high-performance boilers. Additionally, the oil & gas industry remains a major contributor, with refineries and petrochemical plants utilizing industrial boilers for steam generation and process heating. Environmental regulations and the shift towards cleaner fuels are also influencing the market. Governments in the region are implementing emission control policies to reduce reliance on heavy fuels, prompting industries to adopt natural gas-fired and biomass boilers. The push for energy efficiency and sustainability, supported by incentives and regulatory frameworks, is encouraging the adoption of modern, low-emission boiler technologies.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.
Babcock & Wilcox Enterprises,. (US), Siemens (Germany), Wood (UK), Dongfang Electric Corporation Limited (DEC LTD.) (China), Robert Bosch GmbH (Bosch) (Germany), Mitsubishi Heavy Industries, Ltd. (MHI) (Japan), Thermax Limited (India), Sofinter (Italy), Bhel (India), Cleaver-Brooks, Inc. (US) among others are some of the key players in the industrial boilers market.
The study includes an in-depth competitive analysis of these key players in the authentication and brand
protection market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The market study covers the industrial boiler market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on material, application, structure, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the industrial boiler market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall industrial boiler market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial boiler market