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Global Industrial Boiler Market Size By Capacity (≤10 MMBtu/hr, 10-50 MMBtu/hr, 50-100 MMBtu/hr, 100-250 MMBtu/hr, ≥250 MMBtu/hr ), By Product (Fire-tube, Water-tube), By Technology (Condensing, Non-condensing), By Fuel (Natural Gas, Oil, Coal), By Application (Food, Paper, Chemical, Refinery, Primary Metals), Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, India, Japan, South Korea, Australia, Indonesia, Philippines, Saudi Arabia, Iran, UAE, Egypt, Nigeria, Kenya, Morocco, South Africa, Brazil, Argentina, Columbia, Chile, Venezuela) , Competitive Market Analysis & Forecast, 2017 – 2024

Published Date: August 2017 | 500 Pages | Report ID: GMI622 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Industrial Boiler Market size in 2016 was valued over USD 4 billion and the annual shipment is set to exceed 170 thousand units by 2024.

Europe Industrial Boiler Market Size, By Application, 2016 & 2024 (USD Million)
Europe Industrial Boiler Market Size, By Application, 2016 & 2024 (USD Million)


Positive outlook towards food processing and chemical sector coupled with rapid industrialization across developing and emerging economies will drive the industrial boiler market size. In July 2017, TOTAL S.A. and the Government of Iran signed preliminary agreement towards construction of three petrochemical units in the country. Ongoing investments toward upgradation and expansion of existing facilities will further complement the business outlook.

Measures toward energy optimization coupled with increasing adoption of energy efficient heating systems will fuel the industrial boilers market share. Intelligent regulatory system and control along with shift towards industrial automation are some of the major factors which will stimulate the product penetration.

Directives toward limiting greenhouse gas emissions along with replacement of existing heating units with energy efficient systems will drive the industrial boiler market. In November 2015, European Union introduced Directive (EU) 2015/2193 with an aim to reduce emissions from medium capacity combustion plants. However, high initial investment may act as an industry restraint.

Industrial Boiler Market, By Capacity

≤10 MMBtu/hr industrial boiler market is predicted to exceed 90 thousand annual installations owing to its increasing adoption across small and medium scale industries requiring low pressure steam. Food processing and chemical are some of the prominent sectors where these units are installed.

Growing demand for refined petroleum products along with increasing consumption of other petroleum distillates will fuel the ≥250 MMBtu/hr industrial boiler market. Asia-Pacific and Middle East are investing towards expansion of refining capacity and greenfield projects to meet the growing demand. Resurgent primary metals demand across emerging economies will further enhance the business growth.

Industrial Boiler Market, By Product

Water-tube industrial boiler market is predicted to witness gain over 6% by 2024. Ability to achieve higher temperature with high-pressure handling capacity are some of the key attributes which makes adoption of these products preferable. Applications across heavy industries including refineries and pulp & paper will further complement the business outlook.

Fire-tube industrial boiler market share will grow owing to its ease of installation and maintenance. Low operating cost, ability to meet fluctuating demand for steam and compact design are some of the key parameters which will boost the product penetration across small scale industries.

Industrial Boiler Market, By Technology

Condensing industrial boiler market in 2016, was valued over USD 1 billion and will witness strong growth owing to its ability to provide high efficiency. These products allow utilization of latent heat from water vapors thus allowing thermal efficiency to exceed 100% in some cases. Favorable government initiatives toward adoption of energy efficient heating units will positively impact the business growth.

Non-condensing industrial boiler market volume is set to witness gain over 6% owing to its ease of installation along with low maintenance cost. Compact design and its wide-ranging operability will further embellish the industry size.

Industrial Boiler Market, By Fuel

Natural gas in 2016, accounted for over 25% of global industrial boilers market share. Stringent government regulations towards boiler installations along with efforts toward reducing carbon footprint will complement the business landscape. Under the 2015 United Nations Climate Change Conference held in Paris, many countries have announced plans to mitigate the global warming impact of greenhouse gas emissions. In 2015, South Korea pledged a 37% reduction in carbon emission by 2030.

Resurgent industrial sector growth coupled with affordability of coal across Asia-Pacific and Africa region will foster the coal fired heating units. These systems are primarily deployed across chemical plants in combination with biomass boilers. Its wide-ranging applications across cement and refinery plants will further stimulate the product demand.

Industrial Boiler Market, By Application

Food processing in 2016, accounted for over 18% of industrial boiler market revenue. Growing population coupled with shifting consumer preference towards processed food will positively impact the industry growth. In July 2017, Snyder’s Lance announced to invest USD 7.8 million towards expansion of its Baptista’s Bakery facility. Growing focus towards ensuring food security across poor and emerging economies will further enhance the business growth.

Chemical industrial boiler market revenue is set to exceed USD 1.6 billion by 2024. Growing demand for plastic resins, bulk petrochemicals and organics will urge the installation and expansion of heating units which will in turn will stimulate the product demand. As of December 2016, over 275 chemical production projects have been announced in the U.S. valuing over USD 170 billion.

Industrial Boiler Market, By Region

U.S. in 2016, accounted for over 80% of the North America industrial boiler revenue. Investments toward upgradation and refurbishment of the existing heating units across will drive the industrial boiler market growth. In 2015, country’s chemical sector accounted for over USD 470 billion FDI investment. Competitive pricing of natural gas when compared to other fossil fuels will further embellish the business growth.

UK industrial boiler market will witness robust growth owing to rising investment across chemical and food processing sector. Growing overseas demand for manufactured products has fostered investments toward capacity expansion which will further fuel the business growth. In July 2017, Cadbury invested USD 96 million towards expansion of its Bournville factory.

Japan industrial boilers market in 2016 was valued over USD 120 million. Positive outlook towards food processing coupled with investment towards machinery manufacturing will stimulate the product demand. Growing focus towards healthy lifestyle coupled with aging population has resulted in increased demand for processed health food across the country. In 2015, processed health foods revenue in the country exceeded USD 9.1 billion representing growth over 5% from the previous year.

Competitive Market Share

Key industry participants include Cleaver-Brooks, General Electric, Fulton, Thermax, Bharat Heavy Electricals, Forbes Marshall, Clayton, Cochran and Mitsubishi Heavy Industries. Other notable market players include Foster Wheeler, Rentech Boilers, Doosan Corporation, Hurst Boiler and Welding, Electric, Babcock and Wilcox, Saudi Boilers and Parker Boilers.

Robust growth across industries including chemicals and primary metals manufacturing has resulted in increased investment towards capacity addition by manufacturers which will stimulate the product demand.

Industrial Boiler Industry Background

Industrial Boiler Market Segmentation

These systems are primarily utilized for heat generation across applications including food and beverage, pulp and paper, refinery, chemicals, primary metals and other manufacturing. Rising investment towards capability addition and energy efficient manufacturing will boost the demand for these products. Government efforts towards reducing carbon footprint will further complement the business growth.

What Information does this report contain?

What was the historic market data from 2013 to 2016, what is the industry growth forecast from 2017 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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