North America Industrial Boiler Market

North America Industrial Boiler Market Size

The North America industrial boiler market size was estimated at USD 2 billion in 2024 and is expected to reach USD 3.1 billion in 2034, growing at a CAGR of 4.2% from 2025 to 2034.

• The widespread adoption of modular boiler design is gaining momentum owing to their flexible sizing, ease of maintenance, and faster deployment. Industries are deploying these systems for facilities where space, rapid expansion, and uptime are critical.
  
• An industrial boiler is a closed pressure vessel designed to generate steam or hot water for industrial processes, space heating, or power generation. It operates by burning fuel including natural gas, oil, coal, biomass, and electricity to heat water within the system.
  
• Growing modernization of industrial facilities or upgrading existing boiler units to comply with new codes, improving energy costs, and reducing unplanned shutdowns will proliferate business outlook. Moreover, key industry players are heavily investing in combined heat and power systems where boilers play a critical role to enhance energy independence and resilience.
  
• For reference, in the growing demand for organic intermediates, petrochemicals, plastics resin, and inorganic compounds was projected to drive a 2.5% growth in the U.S. basic chemistry industry in 2024.
  
• These boilers incorporating smart sensors, digital dashboards, and IoT capabilities for real-time diagnostics, improved asset tracking, and predictive maintenance will boost North America industrial boiler market scenario. The growing water scarcity concerns are influencing the demand for advanced blowdown control and condensate recovery units, which in turn will escalate industry dynamics.
  
• Increasing trend toward adoption of condensing units particularly in processing heating and district applications where flue gas heat recovery improves energy efficiency and reduces environmental impact will drive the demand for boilers. Rising demand for high-purity steam output, low emissions, and validated performance in the pharmaceutical and life-sciences sector will boost industry growth.
  
• The North America industrial boiler market was valued at USD 1.7 billion in 2019 and grew at a CAGR of over 7% through 2024. Supportive government framework to meet stricter air quality standards, these boilers are using modulating burners and oxygen-trim controls for optimized combustion, which in turn will fuel business landscape.
  
• For reference, in 2024, Canada introduced the 2030 Emission Reduction Plan, setting a target to cut greenhouse gas emissions by 40% from 2005 levels by 2030, with the ultimate goal of achieving net-zero emissions by 2050.
  
• The U.S. industrial boiler market is gaining traction on account of rising integration of these units with renewable energy sources, using heat storage to smooth onsite demand and reduce peak-grid dependency. In addition, the country’s incentives and procurement rules are influencing vendors to source components and fabricate units domestically, which will boost local industry and supply reliability.
  

North America Industrial Boiler Market Trends

• Surging focus on hybrid fuel flexibility which can switch fuel types are in high demand to hedge against fuel prices volatility and improve energy security. Rapid growth in packages of boiler solutions equipped with pre-assembled, skid-mounted, and ready-to-install industrial boilers which reduce onsite labor and construction timelines will foster industry scenario.
  
• The rising expansion of food & beverage industry across the region driven by stringent hygiene standards which accelerate the demand for steam sterilization and facility expansion. These boilers serve as core thermal assets in both chemical and food processing plants, providing consistent steam and hot water for various operations including cooking, drying, and chemical reactions.
  
• For instance, in August 2024, the U.S. Food and Drug Administration is set to update its Food Code to align with the implementation of the Food Safety Modernization Act at the state level.
  
• The market has emerged strongly in 2018 with new investments in food production and chemical facilities supported by reshoring and demand surges. It is anticipated to peak 2026-2029, aligned with the ramp-up of manufacturing capacities and sustainable food production goals.
  
• Steam purity and process control are critical factors in these sectors which propelling the demand for high-efficiency, low emission, and precisely controller boiler systems. Furthermore, the boom in ready-to-eat and packaged food is driving the need for new steam generation systems across the food plants in the region.
  
• Continuous demand for boilers in chemical plants for batch reaction heating, distillation columns, and solvent recovery operations, thereby fueling industry growth. Furthermore, the high-pressure and high-temperature requirements are increasing preference for water-tube boilers and custom-engineered solutions in the chemical sectors.
  
• For illustration, in 2025, the Federal Clean Energy Incentives program committed USD 235 billion in investment to strengthen U.S. manufacturing. This initiative is expected to catalyze private sector investment, enhance energy independence, and accelerate the development of advanced clean technologies.
  
• Industrial customers are investing in modern and energy-efficient replacement propelled by increased fuel costs, more frequent breakdowns, and high emissions lead by aging systems. Industrial sector including pulp & paper, food & beverage, and refinery are heavily relied on continuous steam & heat supply further driving urgency in replacing outdated units to avoid downtime and penalties.
  
• New boiler systems are equipped with integrated energy recovery systems including economizers, feedwater heaters, and blowdown heat recovery will sway the industry potential. Moreover, continuous advancements in burner technology have led to broader deployment of low-NOx and ultra-low NOx burners, incentivizing replacement to meet local emission requirements.
  
• For reference, in 2023, the Government of Canada introduced draft regulations targeting a 35% reduction in emissions from the oil & gas sector by 2030. These proposed measures from a key component of the country’s border strategy to achieve net-zero emissions by 2050, reinforcing Canada’s long-term commitment to climate action and sustainable energy transition.
  
• The upgradation of existing boilers gained momentum post 2015 owing to tightening emissions rules and rising fuel costs along with accelerated post 2020 with when decarbonization mandates implemented. In addition, the peak time for the upgradation of these boilers around 2027-2030, as most legacy boilers will reach end-of-life and sustainability funding deadlines approach.
  

North America Industrial Boiler Market Analysis

• Based on application, the industry is segmented into food processing, pulp & paper, chemical, refinery, primary metal, and others. The food processing segment holds a share of 13.8% in 2024 and is expected to grow at a CAGR of over 4% through 2034.
  
• These boilers are critical in food processing for sterilization, cooking, pasteurization, and cleaning processes along with increasing production capacities will boost product installation. Surging demand for packages and ready-to-eat food in tandem with continuous innovation of compact, quick-start systems, and modular will excel industry momentum.
  
• The chemical industrial boiler market is projected at a CAGR of over 4% till 2034. Rapid growth of capacity expansion in specialty chemicals, petrochemicals, and pharmaceuticals paired with the need for high temperature & advanced control systems in boiler systems will propel business perspective.
  
• For reference, between April 2000 and March 2024, the chemical sector attracted USD 22.1 billion in foreign direct investment driven by advancements in technology, expansion of production capacity, and growing demand for chemical products. The sector is expected to see a total investment of USD 93.6 billion by 2025.
  
• The boiler systems play a critical role in high-risk zones where flame monitoring and explosion-proof components are necessary. The rapid demand for condensing units for heating, cleaning in place, and auxiliary usage in chemical campuses will energize North America industrial boiler market trajectory.
  
• The pulp & paper industrial boiler market will grow at a rate of over 3.5% till 2034. This sector is heavily relied on these units for process steam with biomass based and recovery boilers. Incorporation of digital control and automation in traditional boiler systems will enhance reliability, reduce human error, and manage large-load fluctuations.
  
• The refinery industrial boiler market will witness at a CAGR of over 4.5% through 2034. Growing integration of flue gas recirculation and selective catalytic reduction systems to meet stringent air emission standards will boost the business landscape.
  
• For illustration, in 2025, the U.S. is projected to invest over USD 230 billion in energy manufacturing, supporting the development of 920 new or upgrade facilities. This substantial investment is expected to reinforce the domestic value chain and accelerate the nation’s transition to a renewable energy-driven economy.
  
• Ongoing transition from fuel oil and coal to cleaner-burning hydrogen blends and natural gas to cater to low-carbon refining process will escalate industry dynamics. Moreover, the modular units which are used in remote parts of refinery sites to optimize process resilience and redundance will sway product adoption.
  
• The primary metal industrial boiler market will projected a growth rate of over 4% till 2034. The large steam boilers are favored for metallurgical processes including finishing in aluminum and steel parts, rolling, metal casting, and ore reduction will create favorable business scenario.
  

• Based on technology, the North America industrial boiler market is segmented into condensing and non-condensing. The non-condensing segment dominates the market with 86.5% share in 2024 and is anticipated to grow at a CAGR of over 4% from 2025 to 2034.
  
• These boilers remain dominant in heavy industries including metals, pulp & paper, refining, and chemicals where high-temperature process steam is required. These units are typically designed to operate at elevated temperatures and pressure where condensation recovery is not thermodynamically practical.
  
• These systems are able to operate on multiple fuels including fuel oil, natural gas, biomass, and coal. For citation, according to 2024 report by the America Clean Power Association, the U.S. clean energy sector attracted over USD 500 billion in new investments over the past two years.
  
• The condensing industrial boiler segment holds 13.5% market share in 2024 with over 4.5% CAGR by 2034. This technology is growing rapidly fueled by increasing adoption across light industrial and food & beverage for their ability to recover latent heat from flue gases and high thermal efficiency.
  
• Moreover, increasing emphasis on carbon footprint reduction is making this boiler preferred where natural gas is available. These units are integrated with variable speed pumps, feedwater economizers, and smart control technologies, which in turn will bolster business growth. In addition, industrial parks and urban facilities prefer these boilers owing to cleaner emissions, compact design, and easier permitting for gas-based systems.
  

• The U.S. dominated the industrial boiler market in North America with around 82.4% share in 2024 and generated USD 1.7 billion in revenue. Rising adoption of hybrid systems is reshaping thermal systems in states aiming for industrial decarbonization will amplify industry momentum.
  
• Rapid adoption of package boilers in industrial zones for ease of compliance and faster deployment with new building codes will drive business landscape. Growing incorporation of predictive maintenance and remote diagnostics tools in food-grade and pharmaceutical boiler operations will escalate positive business scenario.
  
• For reference, in February 2024, AtmosZero secured USD 21 million in Series A funding to advance the development of its electric industrial boiler technology. This investment followed a USD 3.2 million grant from the U.S. DOE’s Industrial Efficiency and Decarbonization Office, aimed at supporting innovations that lower greenhouse gas emission across the industrial sector.
  
• The Canada industrial boiler market will project at a CAGR of over 2.5% till 2034. The rising demand for bioenergy-compatible boilers in rural industrial hubs and forestry will proliferate industry dynamics. In the region, industries are migrating toward higher-efficiency thermal systems to minimize tax exposure will sway business growth.
  
• For citation, in 2024, Canada invested over USD 350 million to upgrade its natural gas infrastructure, which in turn stimulated an additional USD 4.5 billion in related developments. This strategic investment is aimed at strengthening the country’s energy security while addressing rising demand driven by industrial expansion.
  
• Key industrial facilities across the region are moving toward cold-climate optimized condensing boilers with anti-freezing systems and corrosion resistant-resistant materials safeguard will create positive business scenario. In addition, growing regulatory efforts on boiler certification, training, and inspection are encouraging industrial users to upgrade legacy systems for compliance will drive industry trajectory.
  
• The Mexico industrial boiler market will witness at a growth rate of over 4% till 2034. Surging demand for remote-controlled boiler systems with on-board diagnostics for better user accessibility and preventive maintenance will drive business expansion. In addition, mid-sized manufacturers across the country are investing in retrofit kits to modernize old boilers with new controls and fuel flexibility will create industry dynamics.
  

North America Industrial Boiler Market Share

• The top 5 companies in the North America industrial boiler industry are IHI Corporation, Babcock & Wilcox Enterprises, Miura America, Cleaver Brooks, and Mitsubishi Heavy Industries contributing around 40% of the market in 2024.
  
• The industry is moderately concentrated, with a mix of established multinational players and regional boiler manufacturers catering to niche or custom-built solutions. Large global firms dominate high-capacity, high-pressure applications, while smaller domestic players focus on modular, package, and retrofit boiler systems.
  
• The market is seeing fragmentation in condensing segment, where new entrants and startups are emerging with decarbonization-focused technologies. Service-based models are becoming a key competitive tool, particularly among players targeting lifecycle cost savings.
  
• IHI Corporation is expanding its presence in North America by leveraging advanced, customized boiler engineering for high-pressure and high-capacity industrial application particularly in petrochemicals, refineries, and power-intensive industries.
  
• IHI is gaining momentum driven by collaboration with EPC contractors and offering co-generation-ready systems making its boiler systems attractive for facilities seeking on-site power generation and process heat.
  
• B&W’s growth strategy in the region is centered on boiler modernization, emission upgrades, and aftermarket support for aging installations across sectors including utilities, metals, and pulp & paper. The company emphasizes retrofit packages including low-NOx burners, SCR systems, and smart combustion controls making it a go-to vendor for clients facing regulatory pressure.
  
• B&W has introduced modular waste-to-energy and biomass boiler systems to meet demand in sustainability-focused manufacturing zones. In addition, the company’s strategy is shaped by extending the life of existing assets, which aligns with capital conservation trend in legacy sectors.
  
• Over the past 3 years, market concentration in the North America industrial boiler sector has moved from moderate to moderately fragmented owing to the entry of niche and regional players particularly in modular, electric, and condensing boiler units. The market is uptick in private-label manufacturing, local assembly partnerships, and service-focused regional companies expanding their market presence.
  

North America Industrial Boiler Market Companies

• In the first quarter of 2025, Babcock & Wilcox reported revenue of USD 181.2 million, marking a 10% year-over-year increase from USD 164.3 million in Q1 2024. The growth was primarily driven by progress on major natural gas projects contributing USD 8.5 million, higher construction activity adding USD 6 million and a USD 10 million uplift in part sales.
  
• In 2024, IHI Corporation reported revenue of USD 11.1 billion, reflecting a 23% year-over-year increase, primarily driven by a rebound from the temporary decline experienced in the previous year. Orders rose by 27.2%, reaching USD 12 billion, also supported by a recovery in demand following the prior year’s downturn.
  
• For the financial year 2024, Thermax Group reported consolidated operating revenue of USD 1.2 billion, reflecting an 11% increase over the previous years of USD 1.1 billion. Profit after tax stood at USD 73.1 million, representing a 2% decline from USD 75 million in the prior year, despite the growth in topline performance.
  

Major players operating in the North America industrial boiler market are:

• AERCO
• Babcock & Wilcox Enterprises
• Burnham Commercial Boilers
• Clayton Industries
• Cleaver-Brooks
• Doosan Enerbility
• Fulton
• Groupe Atlantic
• Hurst Boiler & Welding
• IHI Corporation
• John Cockerill
• John Wood Group
• Mitsubishi Heavy Industries
• Miura America
• Rentech Boiler Systems
• Sofinter
• Thermax
• VIESSMANN
  

North America Industrial Boiler Industry News

• In May 2025, Burnham Holding announced the decision to divest all the assets of its Thermo Pride and Norwood Manufacturing subsidiaries. This strategic move is intended to refocus the company’s efforts on strengthening its core boiler portfolio and expanding its commercial and industrial rental and service operations in line with its long-term growth objectives.
  
• In August 2024, Babcock & Wilcox’s BWCC business division secured USD 25 million contract to perform boiler upgrades, pressure part replacement, and related outage and maintenance services at a U.S.-based thermal power facility. The project is scheduled for execution during the plant’s planned outage in 2024.
  
• In February 2024, Miura America announced the expansion of its Miura Care maintenance program, introducing a new tiered service model available through its authorized representatives’ network. The program has been restructured into three service levels, Silver, Gold, and Platinum, providing customers with greater flexibility, enhanced transparency, and access to exclusive performance guarantees tailored to their specific operational needs.
  
• In January 2024, AERCO, a Watts brand, launched Sequoia, a new line of high-voltage immersed electrode hot water boilers designed for large industrial applications. This product is offered in eight capacities ranging from 2,500 kW to 65,000 kW, the Sequoia delivers 97% efficiency, zero emissions, and clean, combustion-free operation, making it well-suited for facilities prioritizing electrification and building decarbonization.
  

The North America industrial boiler market research reports include in-depth coverage of the industry with estimates & forecast in terms of volume (Units), capacity (MMBTU/hr) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Product

• Fire-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
    • Others
  • By Technology
    • Condensing
    • Non-condensing
  • By Fuel
    • Natural gas
    • Oil
    • Coal
    • Others
• 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
    • Others
  • By Technology
    • Condensing
    • Non-condensing
  • By Fuel
    • Natural gas
    • Oil
    • Coal
    • Others

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 countries:

• U.S.
• Canada
• Mexico