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North America 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, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI5240
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Trends

North America Industrial Boiler Market size valued at USD 1.5 billion in 2021 and is projected to expand at over CAGR of 4.9% from 2022 to 2028. The increasing adoption of innovative heating systems coupled with favorable government regulations to reduce carbon emissions will positively influence the market growth.
 

North America Industrial Boiler Market Overview

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Strict government regulations to limit greenhouse gas emissions along with a rising focus on optimizing fuel consumption will augment the business landscape. Robust development of industrial facilities in line with state & federal government initiatives toward expansion will stimulate the industry spectrum. Moreover, the growing demand for the replacement of aged boilers or units over the average operating life will institute a favorable business scenario.
 

The COVID-19 outbreak has delayed a wide array of projects including infrastructural development, restructuring & renovation projects. Increasing government focus on over-compensating the impacts by improving operations as the opportunity arises will escalate the industry expansion. However, respective government measures to resume operations across major industries, manufacturing facilities, and infrastructure projects will complement the business growth.
 

Ongoing replacement of traditional boilers will boost the market progression

North America Industrial Boiler Market size

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North America industrial boiler market for water-tube boiler segment is predicted to observe a 5.1% growth rate till 2028 due to the ongoing investments in the expanding manufacturing facilities in line with rising industrialization.
 

In addition, the growing acceptance of efficient units across the chemical industry owing to safe operations, high efficiency, and low maintenance will spur product adoption. Shifting consumer awareness toward the usage of reliable and sustainable heating units in line with favorable government reforms to promote the installation of efficient boiler systems will propel the industry growth.
 

Increasing heating demand across industrial operations will drive the North America industrial boiler market expansion

The 50 - 75 MMBtu/hr. capacity boiler market is anticipated to reach USD 270 million by 2028 impelled by the rising demand for water heating boilers across applications including warehouses and medium-size industrial establishments. Moreover, food processing and chemical plants are some of the prime industries to deploy these units for steam generation processes.
 

North America industrial boiler market for <10 MMBtu/hr. capacity boilers will witness significant growth on account of favorable government incentives and schemes for the usage of energy-efficient systems. Rising applicability across small industries along with growing consumer awareness toward the adoption of efficient heating units will proliferate the product demand. The product offers key advantages including low initial investments, reduce operational costs, and easy installations, accelerating the industry demand.
 

The flourishing industrial sector will positively foster the North America industrial boiler market revenue

The industrial boiler market is poised to register substantial gains is attributed to the continuous investments in expansion, followed by modernization and retrofitting of existing refineries. The wide-scale utilization of these units for captive power generation and distillation purposes will stimulate the demand for the industrial boilers. The deregulatory measures undertaken by the federal government along with varying consumer lifestyle trends will further institute a favorable industry scenario.
 

The condensing technology in the North America industrial boiler market is expected to showcase robust growth driven by the increasing focus on the reduction of carbon emissions and government norms pertaining to energy conservation. The key advantages including lower heating costs, operational safety, and energy efficiency will escalate the deployment of these heating systems.  Additionally, the introduction of national standards to monitor boiler emissions will surge the replacement of traditional boiler units.
 

Ongoing development in the gas supply infrastructure will amplify the market share of North America region

North America Industrial Boiler Market Share

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The gas-fired industrial boiler market held a 45% of revenue share in 2021. The robust expansion of gas supply infrastructure along with easy extraction makes will energize the industry dynamics. In addition, the recent competitive natural gas prices, followed by a growing inclination toward the acceptance of sustainable solutions will encourage the product deployment. Furthermore, strict government policies and mandates pertaining to the installation of low-emission fuels systems will favor the industry progression.
 

Upgrading existing industrial facilities will accelerate the market in United States

The U.S. industrial boiler market is estimated to grow at more than 5.1% CAGR by 2028 due to the positive outlook toward the chemical, refining, and petrochemical sectors along with favorable policies to reduce carbon footprints. The growing prominence of the primary metal manufacturing sector, led by the refurbishment of refineries, will enhance the industry value. Rising space heating demand and low winter temperatures along with the rising tourism sector will augment the market demand.
 

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

Major players operating in the North America industrial boiler market are The Fulton Companies, Babcock & Wilcox Enterprises, Cleaver-Brooks, Clayton Industries, John Cockerill, IHI Corporation, Hurst Boiler and Welding Co., General Electric, Doosan Heavy Industries & Construction, John Wood Group, Mitsubishi Heavy Industries, Forbes Marshall, Sofinter, Siemens, Thermax Limited, Rentech Boilers, Viessmann Climate Solutions, Miura America, Victory Energy Operation, and Groupe Atlantic.
 

The North America 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 region and countries:

  • North America
    • U.S.
    • Canada

 

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Market size of North America industrial boiler reached $1.5 billion in 2021 and is projected to register more than 4.9% CAGR during the forecast timeline of 2022-2028.

The water-tube boiler segment is expected to witness 5.1% CAGR through 2028 as the product has observed substantial adoption from the region’s chemical sector.

The 50-75 MMBtu/hr. capacity industrial boiler market share is predicted to reach $270 million by 2028 due to the rising demand for water heating boilers across warehouses, food processing factories, and chemical plants.

Natural gas held 45% of North America market share in 2021 as the fuel is widely available at an affordable price and the gas supply infrastructure is witnessing a rapid expansion.

The U.S. industrial boiler market size is estimated to showcase more than 5.1% CAGR through 2028 as the petrochemical, refining, and chemical sectors are expanding at a promising rate and there is a high need to upgrade the existing industrial facilities.

The Fulton Companies, Cleaver-Brooks, Babcock & Wilcox Enterprises, IHI Corporation, John Cockerill, and Clayton Industries, among many others, are the main players in this market.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 20
  • Tables & Figures: 276
  • Countries covered: 2
  • Pages: 230

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