Home > Energy, Mining, Oil & Gas > Industrial Boiler Market

Industrial Boiler Market Size By Product (Fire-Tube, Water-Tube), By Capacity (<10 MMBtu/hr, 10 - 25 MMBtu/hr, 25 - 50 MMBtu/hr, 50 - 75 MMBtu/hr, 75 - 100 MMBtu/hr, 100 - 175 MMBtu/hr, 175 - 250 MMBtu/hr, > 250 MMBtu/hr), By Application (Food Processing, Pulp & Paper, Chemical, Refinery, Primary Metal), By Technology (Condensing, Non-Condensing), By Fuel (Natural Gas, Oil, Coal), COVID-19 Impact Analysis, Regional Outlook, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI622
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Trends

Industrial Boiler Market size exceeded USD 9 billion in 2021 and is projected to grow at over 4.7% CAGR from 2022 to 2028. The increasing replacement of traditional heating systems with high-performance units coupled with strict government rules to curb carbon emissions will drive the market growth. Additionally, surging requirements for heat and steam across various industries in line with advancements in energy-efficient boilers will spur the industry expansion.

Get more details on this report - Request Free Sample PDF

Strict government mandates to reduce Greenhouse Gas Emissions (GHGs) and extreme climatic conditions along with ongoing investments in economic growth will boost the industrial boiler market trends. A positive outlook toward industrial establishments in line with rising demand for heating units will accelerate the industry progression. In addition, growing industrialization along with the acceptance of efficient steam generation systems will further escalate the business outlook.

The COVID- 19 pandemic has slightly influenced the industrial boiler market owing to a considerable delay in manufacturing facilities. The overall demand for boilers was affected due to a halt in industrial operations. However, the relaxation of restrictions along with the development in R&D policies for the facilitation of advanced designs will foster the industry scenario. Furthermore, government policies for a sustainable heating system coupled with continuous infrastructural development will enhance the industry demand.

Ongoing replacement of traditional boilers with advanced systems coupled with the growing industrial sector will accelerate the market progression

Get more details on this report - Request Free Sample PDF

The water-tube boiler segment in the industrial boiler market is predicted to observe a 5% growth rate till 2028. The system utilizes water or steam, which circulates inside the tubes and heat gases surrounding outside. The rising installation of efficient units across various industries including chemical, food processing, and pulp & paper owing to safe operations with minimal maintenance will surge the product adoption. The ongoing industrial sector investments that aim to propel excellent heating facilities along with increasing replacements of conventional boilers with higher capacity units will positively influence the market demand. Continuous modernization of industrial infrastructures along with the growing deployment of highly efficient boiler units across industries will augment the industry value.

Surging demand for heat and steam across industrial operations along with continuous technological advancements will stimulate the market expansion

The 100 - 175 MMBtu/hr capacity industrial boiler market is estimated to grow exponentially led by the growing installation of boilers across industrial applications including the pulp & paper industry and refineries. Continuous industrial sector investments along with rising manufacturing facilities have positively impacted the expansion of energy-efficient boiler systems. Moreover, government shift toward innovations in new facilities across various industries in line with the rapid integration of renewable energy will drive the industry dynamics.

The 175 - 250 MMBtu/hr capacity segment will witness robust growth on account of rapid industrialization coupled with stringent government mandates on energy conservation. The escalating demand for heat or steam at various stages of refinery operations along with the growing deployment of high-capacity heating systems will sway the industry revenue. Additionally, increasing development in the manufacturing sector in line with the continuous replacement of traditional boilers will accelerate the industry growth.

Favorable government incentives toward the adoption of efficient heating systems will boost the market value

The food processing industrial boiler market is anticipated to rise impelled by the positive outlook toward the food processing industry in line with rising applications of high-capacity boiler units. The increasing installation of clean energy power generation facilities coupled with continuous digitization in operations will augment the product demand. In addition, an optimistic outlook toward the development of efficient design along with a continuous reliable operation of boilers will foster the industry landscape.

The condensing technology will register significant growth on account of the rising infrastructural development, enhancement in high-capacity boilers, and rapid industrialization. Increasing concerns to reduce carbon footprints along with high efficiency, low fuel consumption, and overall reduced energy bills will surge the industrial boiler market progression. Furthermore, innovative technological advancements due to the high operational ability and effective designs will also spur the industry demand.

Growing deployment of renewable and efficient heating technologies will enhance the market growth

The oil-fired industrial boiler market is expected witness lucrative gains driven by the continuous installation of advanced products along with rising industrial sector investments. The increasing demand for efficient heating units in line with low-cost product installations will boost the industry expansion. Growing shift toward optimal heating facilities coupled with high-capacity power generation will further escalate the demand for oil-fired industrial boilers. Moreover, an extensive replacement of conventional boilers with highly efficient boilers followed by advanced designs will stimulate the business landscape.

Growing infrastructure in the industrial sector and upgrading of existing heating systems will create growth opportunities for APAC region

Get more details on this report - Request Free Sample PDF

Asia Pacific industrial boiler market is anticipated to reach USD 6.5 billion by 2028. Ongoing investment toward expansion of refining capacity along with rising demand for processed food has created a favorable business scenario. Increasing foreign investment toward industrialization along with robust macroeconomic indicators will spur the industry scenario. The ongoing replacement of traditional heating coupled with surging requirements for heat & steam across industrial operations will proliferate the industry outlook.

Strategic partnerships and collaborations including joint ventures & mergers will propel the market revenue

Major participants operating in the industrial boiler market are Babcock and Wilcox Enterprises, Bharat Heavy Electricals, The Fulton Companies, Hurst Boiler and Welding, Cleaver-Brooks, IHI Corporation, Clayton Industries, John Cockerill, John Wood Group, Cochran, Doosan Heavy Industries & Construction, Forbes Marshall, Mitsubishi Heavy Industries, General Electric, Siemens, Sofinter, Rentech Boilers, Thermax, Miura America, Hoval, Viessmann Climate Solutions, Fondital, Ferroli, Groupe Atlantic, Fonderie Sime, Bosch Industriekessel, Victory Energy Operations and Walchandnagar Industries.

Continuous product innovations, collaborations, and mergers among leading players will foster the business dynamics. In addition, inorganic growth ventures and contracts across major companies in line with the development of innovative products will sway the industry growth.

The industrial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units, MMBtu/hr. and USD from 2018 to 2028 for the following segments:

Market, By Product

  • Fire-Tube
  • Water-Tube

Market, By Capacity

  • < 10 MMBtu/hr
  • 10 - 25 MMBtu/hr
  • 25 - 50 MMBtu/hr
  • 50 - 75 MMBtu/hr
  • 75 - 100 MMBtu/hr
  • 100 - 175 MMBtu/hr
  • 175 - 250 MMBtu/hr
  • > 250 MMBtu/hr

Market, By Application

  • Food Processing
  • Pulp & Paper
  • Chemical
  • Refinery
  • Primary Metal
  • Others

Market, By Technology

  • Condensing
  • Non-Condensing

Market, By Fuel

  • Natural Gas
  • Oil
  • Coal
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Poland
    • Italy
    • Spain
    • Austria
    • Germany
    • Sweden
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Philippines
  • Middle East & Africa
    • Saudi Arabia
    • Iran
    • UAE
    • Egypt
    • Nigeria
    • Kenya
    • Morocco
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Colombia
    • Chile


Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of industrial boiler surpassed USD 9 billion in 2021 and is expected to grow at a CAGR of 4.7% between 2022 and 2028 owing to the rising replacement of traditional heating systems with high-performance units.
The food processing applications is estimated to record substantial growth through 2028 driven by the surging installation of clean energy generation facilities.
Oil-fired industrial boiler segment is surging due to the need for more efficient heating solutions along with focus on low-cost installation.
APAC market size is projected to reach USD 6.5 billion by 2028 considering the soaring demand for processed food manufacturing in the region.
Leading companies across the market are John Cockerill, Babcock and Wilcox Enterprises, Cochran, Doosan Heavy Industries & Construction, General Electric, Thermax, Clayton Industries, Miura America, and some others.

Buy Now

Immediate Delivery Available

Premium Report Details

  • Base Year: 2021
  • Companies covered: 28
  • Tables & Figures: 3456
  • Countries covered: 31
  • Pages: 2140
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount