Home > Energy & Power > Electrical Equipment > Boilers > U.S. Industrial Boiler Market
U.S. Industrial Boiler Market size surpassed USD 1.5 billion in 2023 and is projected to witness 4.4% CAGR from 2024 to 2032. Improved safety along with low emission content will further favor the product penetration.
The industrial boiler market is likely to witness 4.8% CAGR during the forecast timeframe owing to increasing industrialization and extensive investments toward the development of manufacturing facilities. Involvement of private companies and federal government toward the expansion of existing industries will favor the business scenario. Furthermore, the introduction of emission reduction regulations aimed at limiting Greenhouse Gas (GHG) emissions has led to a rising trend of replacing traditional steam generating units with energy-efficient boilers.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
U.S. Industrial Boiler Market Size in 2023: | USD 1.5 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 4.4% |
2032 Value Projection: | USD 2.2 Billion |
Historical Data for: | 2019 to 2023 |
No. of Pages: | 950 |
Tables, Charts & Figures: | 2,594 |
Segments covered: | Capacity, Fuel, Technology, Application |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
The COVID- 19 has impacted the industry at a certain margin. The boiler units are expected to witness an elevated demand owing to robust heating demand across the several states. Slow economic rebounds and limited manufacturing across various industries, and potentially less demand for water heating technologies have challenged the demand for these boiler systems.
The gas fired boiler industry will witness growth rate of 5.2% by 2032. Competitive natural gas prices coupled with growing inclination towards adopting sustainable technologies will positively sway the industry potential. Stringent government regulations regarding the adoption of low-emission fuels coupled with abundant availability of gas supply networks across the nation will further institute a favorable outlook for U.S. industrial boiler market.
The 10 - 50 MMBtu/hr industrial boiler market captured share of over 25% in 2022. Increasing applicability of these systems across food & beverage and pulp & paper industry will positively impact the industry landscape. The product offers key advantages including low initial investment & maintenance cost and ease-of-installation, which in turn will drive the business growth.
The increasing emphasis on reducing carbon footprints and conserving energy is playing a positive role in the adoption of condensing boilers. The Environmental Protection Agency (EPA) has implemented the National Emission Standards for Hazardous Air Pollutants (NESHAP) to regulate emissions from boilers resulting into replacement of existing boiler units with condensing systems. The penetration of these heating units is determined by evaluating key parameters comprising of lower heating costs, energy efficiency, and operational safety.
The refinery application was valued at over USD 100 million in 2022. These systems are deployed across this application area for the distillation and captive power generation purpose. In addition, increasing demand for chemicals across wide tandem of application areas along with ongoing retrofitting and modernization of existing refineries will energize the U.S. industrial boiler market dynamics.
The West South Central industrial boiler market is set to surpass USD 400 million by 2032 due to the positive outlook towards the chemical, refining, and petrochemical sectors. The region will witness increased demand for these systems owing to surging investments in refurbishment of refineries and robust growth of the primary metal manufacturing sector. Moreover, ongoing investment in the chemical industry and the rising disposable income will complement the industry growth.
The key companies operating in the United States industrial boiler industry include
Click here to Buy Section of this Report
Market, By Fuel
Market, By Capacity
Market, By Technology
The above information has been provided for the following regions and states: