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Industrial Boiler Market Analysis

  • Report ID: GMI622
  • Published Date: May 2023
  • Report Format: PDF

Industrial Boiler Market Analysis

Industrial Boiler Market Size, By Application, 2021 - 2032 (USD Billion)

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In terms of application, the industrial boiler market is classified into refinery, chemical, food processing, pulp & paper, and primary metal. The chemical segment was more than USD 2 billion in 2022. Industrial-grade boilers are widely used in the processing operations of chemical plants. As per Invest India, the country’s chemical and petrochemical sector has the potential to reach USD 300 billion by 2025. Rapid progress in the chemical industry has increased the demand for industrial boilers.

Industrial Boiler Market Share, By Fuel, 2022 (USD Million)

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Based on fuel, the oil-powered industrial boiler market size to hit USD 4.5 billion by 2032. Low running costs of oil-fueled industrial boilers are contributing to an increase in product consumption. Additionally, these systems can be used alongside renewable energy heaters and demonstrate energy efficiency when compared to their coal-based counterparts. Oil-fueled industrial boilers also serve as a feasible option for countries with limited reserves of natural gas.

Asia Pacific Industrial Boiler Market Share, By Technology, 2022 (Units)

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Asia Pacific industrial boiler market is anticipated to grow at 5% CAGR from 2023 to 2032. Growing investments in end-user industries such as chemicals, food processing, metal manufacturing plants, and others is contributing to regional growth. As per Invest India, the food processing industry in the country will cross USD 535 billion by 2025-26. Moreover, the implementation of stringent standards for emission control will create lucrative prospects for regional expansion. The market for U.S. industrial boiler is set to cross USD 1.9 billion by 2028.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of industrial boilers crossed USD 9.5 billion in 2022 and is poised to grow at over 4.5% CAGR from 2023 to 2032, driven by rapid industrialization across emerging nations.

Oil-fueled industrial boiler market size will cross USD 4.5 billion by 2032, on account of its low running costs and other beneficial properties.

Asia Pacific industrial boiler market share will grow at more than 5% CAGR from 2023 to 2032, on account of rising investments in industries such as food processing, chemicals, metal manufacturing plants, and others.

Some of the prominent industrial boiler market contenders are The Fulton Companies, Hurst Boiler and Welding, John Cockerill, Clayton Industries, Cleaver-Brooks, Bosch Industriekessel, and IHI Corporation, among others.

Industrial Boiler Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 28
  • Tables & Figures: 4502
  • Countries covered: 27
  • Pages: 2250
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