North America Steam Boiler Market Size & Share 2024 to 2032
Market Size by Capacity, by Fuel (Natural Gas, Oil, Coal), by Technology (Condensing, Non-Condensing), by Application (Residential, Commercial) & Forecast.
Report ID: GMI8752
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Published Date: March 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Shubham Chaudhary
North America Steam Boiler Market Size
North America Steam Boiler Market size was valued at USD 2.6 billion in 2023 and is estimated to grow at a CAGR of 5.6% between 2024 and 2032. Extensive investments by the public & private players across the healthcare industry along with flourishing pharmaceutical industry will positively sway the industry growth. For instance, in 2022, the total investments in healthcare industry crossed a mark of USD 4 billion across the New York.
North America Steam Boiler Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
A steam boiler is a heating device that utilizes different types of fuels to produce heat. The fundamental concept of a steam boiler includes a heat source, and a heat transfer medium, usually heat exchanger which allows water to reach its boiling point. Continued advancements in boiler design facilitating the utilization of natural gas, shale gas, and electricity as primary fuel sources are poised to propel industry expansion.
North America Steam Boiler Market Trends
Increasing applicability of these units for providing space heating across various commercial & industrial establishments will fuel the industry scenario. Rising disposable income along with improving living standard of the consumers primarily across cold climatic regions will propel the boiler market. The growing focus on reducing the aftereffects of GHG emissions is significantly increasing the demand for energy-efficient steam boilers.
North America Steam Boiler Market Analysis
The ≤ 10 MMBtu/hr steam boiler market will reach over USD 1 billion by 2032. Introduction of stringent emission norms to deploy advance heating systems coupled with increasing urbanization rate will favor the business scenario. Surging investment by the public traded firms to expand their work premises will significantly fuel the product deployment. Moreover, government & private institutions are concerning to offer space heating facilities in the buildings, which in turn will propel the technological demand.
The industrial boiler market size will predicted to record a CAGR of around 5% through 2032. Policy interventions, environmental regulations, trade facilitation, and technological advancements are some of the key tools through which respective governments are enabling their industries to meet the growing domestic demand and enter international markets. This has led to growing FDI inflows and increased domestic investments in new industrial facilities, resulting in an elevated demand for these boilers.
The U.S. boiler market is set to surpass USD 3 billion by 2032. Continuous surge in the pipeline for manufacturing plants in line with ongoing government schemes toward the development of large-scale projects and favorable regulations & policies will energize the business dynamics. The rising space heating demand, low winter temperatures along with ongoing upgradation and expansion of existing commercial facilities will further complement the industry growth.
North America Steam Boiler Market Share
Miura America specializes in the production of boilers, offering innovative solutions for various industrial and commercial applications. Its boilers are known for their compact design, which allows for space-saving installations. This feature is particularly beneficial for facilities with limited space or those seeking to optimize their layout. The company’s systems are engineered for optimal energy efficiency, helping businesses reduce their carbon footprint and operational costs.
North America Steam Boiler Market Companies
The key industry players include:
North America Steam Boiler Industry News
The North America steam boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBTU/hr” & “USD Million” from 2019 to 2032, for the following segments:
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Market, By Capacity
Market, By Fuel
Market, By Technology
Market, By Application
The above information has been provided for the following countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →