WaterTube Condensing Low Temperature Industrial Boiler Market

Water-Tube Condensing Low Temperature Industrial Boiler Market Size

The global water-tube condensing low temperature industrial boiler market size was valued at USD 347.9 million in 2024 and is expected to reach USD 555 million by 2034, growing at a CAGR of 4.8% from 2025 to 2034. The upgradation of aging industrial infrastructure coupled with the rapid growth of smart boiler systems will stimulate industry expansion.

Increased investments in advanced, high-efficiency boiler designs, along with the use of corrosion-resistant and durable components, will promote business growth. Rising demand from the food and beverage sector, coupled with the need for energy-efficient systems and rapid startup capabilities will fuel the business landscape.

For instance, in 2024, Canada announced the 2030 Emissions Reductions Plan, which aims to reduce emissions by 40% compared to 2005 levels by 2030, with a goal of net-zero emissions by 2050. This strategy focuses on encouraging clean industrial development and creating long-term employment opportunities while addressing climate change.

The integration of industrial IoT, modular boiler designs and predictive maintenance will revolutionize the boiler performance and reliability. These boilers ensure temperature consistency is vital for food processing units, while reducing fuel costs and emissions, aligning global sustainability mandates and operational efficiency goals.

The increasing demand for cleaner and more environmentally friendly energy solutions coupled with the growing emphasis on environmental sustainability will accelerate the use of industrial boilers. The business dynamics will also be improved by condensing technology advancements and the integration of sophisticated control systems.

For instance, in 2024, the Canadian government proposed new regulations to limit carbon emissions from oil and gas upstream operations. The framework aims to reduce GHG emissions by 35% relative to 2019 levels by 2030. This plan also includes tax benefits aimed at lowering emissions and a cap-and-trade model to encourage emission reduction in the fossil fuel industry.

Water-Tube Condensing Low Temperature Industrial Boiler Market Trends

The industry is set for significant expansion on account of the rising demand for low-emission heating and energy-efficient solutions across diverse industrial applications. The growing need for precise and dependable temperature control systems in sectors including primary metals & food processing will positively shape the industry landscape.

Additionally, stringent environmental mandates targeting emission reductions, combined with supportive government policies and incentive programs encouraging sustainable technologies will encourage the demand for low temperature industrial boiler. Their adaptability to fluctuating loads also makes them ideal for centralized heating networks in mixed-use developments.

To illustrate, in 2025, the Federal Clean Energy Incentives Program announced a USD 235 billion investment in US manufacturing. These initiatives will encourage private investment, boost energy independence, and advance new technologies. Furthermore, federal funding will improve job opportunities across the country.

Rising investments in the chemical sector and growing demand for load balancing and thermal recovery features are reinforcing the industry outlook. These systems perform reliably under varying loads and can capture exhaust heat for reuse. In volatile environments these systems ensure both operational continuity and reduced overall fuel consumption.

Stricter energy efficiency regulations, carbon emission reduction targets and rising adoption in district heating projects will augment industry demand. The lower lifecycle costs of these systems along with fuel flexibility, government incentives and technological advancements will further enhance efficiency and operational value of these products.

For instance, in 2025, Ontario committed approximately USD 1 billion to expand its Manufacturing Investment Tax Credit, increasing the rate to 15% and broadening eligibility. The initiative, aimed at countering US tariffs and fostering local growth, supports investments in manufacturing infrastructure, creating jobs and strengthening Ontario's industrial competitiveness over the next three years.

Water-Tube Condensing Low Temperature Industrial Boiler Market Analysis

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• The water-tube condensing low temperature industrial boiler industry was estimated at USD 312.6, 328.1 & 347.9 million in 2022, 2023 and 2024 respectively. Based on fuel, the industry is segmented into natural gas, oil, coal and others.
  
• The natural gas water-tube condensing low temperature industrial boiler market will reach over 180 million by 2034. These boilers are meticulously designed for deployment across industries including chemicals, food processing, refineries, and other industrial sectors, where precise temperature regulation is vital to maintaining product quality & maximizing operational efficiency.
  
• The oil water-tube condensing low temperature industrial boiler industry will project at a CAGR of 4.7% by 2034. The growing emphasis on energy-efficient technologies coupled with the seamless integration of boilers into renewable energy frameworks will influence the business expansion.
  
• For instance, in 2024, the European Commission approved Germany's USD 2.4 billion initiative to support decarbonization in its industrial sector. The program will fund investments in electrifying industrial processes and replacing fossil fuels with renewable hydrogen, with the goal of reducing greenhouse gas emissions from production processes by 40 percent.
  
• The coal water-tube condensing low temperature industrial boiler market was valued at USD 75.8 million in 2024. Ongoing innovation in IoT-enabled predictive maintenance and remote monitoring solutions aimed at minimizing downtime and optimizing performance will boost the product deployment.

Learn more about the key segments shaping this market

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• Based on application, the industry is segmented into food processing, pulp & paper, chemical, refinery, primary metal and others. Stringent environmental mandates emphasizing emission reduction and the integration of sophisticated management systems will propel the adoption of these systems.
  
• The chemical water-tube condensing low temperature industrial boiler market holds a market share of 23.9%. The surging demand for chemical products particularly in the pharmaceutical, agrochemical, and specialty chemical sectors coupled with the growing need for efficient & dependable heating solutions will create favorable business opportunities.
  
• The pulp & paper water-tube condensing low temperature industrial boiler industry is expected to grow at a CAGR of 4.9% by 2034. These boilers feature state-of-the-art safety mechanisms, advanced monitoring tools, and automated shutdown capabilities, ensuring adherence to stringent safety regulations and enhancing operational reliability, thereby stimulating the industry landscape.
  
• For instance, in 2024, Canada pledged about USD 8 million for Kruger Wayagamack Paper and Pulp Mill's revolutionary carbon capture initiative. This scheme will be the world's first large scale carbon capture system in the industry, aiming to reduce CO2 emissions by over 1,800 tonnes per year.
  

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• The U.S. water-tube condensing low temperature industrial boiler market was valued at USD 38.9, 40.9 & 43.9 million in 2022, 2023 and 2024 respectively. The persistent emphasis on minimizing carbon emissions and enhancing operational efficiency will escalate the business potential.
  
• North America water-tube condensing low temperature industrial boiler industry will witness a CAGR of 4.9% by 2034. Aging industrial facilities are increasingly upgrading their heating systems to integrate modern boilers with advanced control mechanisms and improved fuel efficiency will amplify the product adoption.
  
• For instance, in 2024, the U.S. Department of Energy launched "The National Blueprint for a Clean & Competitive Industrial Sector" to improve manufacturing by promoting innovation, sustainability, and pollution reduction. The initiative aims to improve global competitiveness, create jobs, and transform the industrial sector towards a cleaner, more efficient future.
  
• The Europe water-tube condensing low temperature industrial boiler market was valued USD 153.5 million in 2024. The surge in urban development coupled with an increase in construction projects comprising of construction materials, steel production, and cement manufacturing will contribute the industry penetration.
  
• The Asia Pacific water-tube condensing low temperature industrial boiler industry is set to reach over USD 200 million by 2034. Significant investments in innovation, quality enhancements, and adherence to energy efficiency standards, combined with substantial capital allocation toward expanding industrial facilities will drive the industry momentum.
  
• For instance, in 2024, Australia implemented an industrial policy aimed at leveraging its resources for a cleaner energy future. This initiative highlights the government's proactive approach to industrial growth, which is consistent with global trends in strategic economic intervention. The policy seeks to position Australia as a leader in clean energy manufacturing and industrial transformation by promoting sustainable development and innovation.
  
• The Middle East & Africa water-tube condensing low temperature industrial boiler market will gain a significant momentum owing to the heightened investments in new manufacturing facilities in line with government initiatives aimed at promoting energy efficiency will accelerate the business prospects.
  
• The Latin America water-tube condensing low temperature industrial boiler industry will witness a CAGR of 4% in 2034. Growing industrialization, energy efficiency needs, and government support for cleaner technologies will augment the demand for these boilers in the region.
  

Water-Tube Condensing Low Temperature Industrial Boiler Market Share

• The top 5 players, including Thermax, IHI Corporation, Miura America, Clever Brooks and Babcock & Wilcox together hold a share of about 40% in the water-tube condensing low temperature industrial boiler industry. The company highlights the effectiveness, longevity, and adherence to legal frameworks including energy efficiency requirements and low-emission standards.
  
• Babcock & Wilcox Enterprises has decades of experience in steam generation and is a market leader in high-temperature industrial boilers. For industrial and utility scale boilers, the business offers full services that help clients increase dependability, maximize value across a range of energy applications, optimize performance, lower costs and prolong asset life.
  
• Thermax has extensive experience in energy and environmental solutions and is a key player in the industrial boiler sector. The company offers integrated services that enhance operational efficiency, reduce emissions, support sustainability goals and help clients meet regulatory compliance.
  
• IHI Corporation announced that they have collected a revenue of USD 4.6 billion in 2024, compared to a revenue of 2.9 billion in 2024, marking an increase of 58%. Furthermore, the orders received during the current fiscal year increased 27.2% from the previous corresponding period owing to a rebound in the temporary decreases in the previous fiscal year.
  
• In the first nine months of 2024, Thermax reported revenues of over USD 870 million, indicating strong financial momentum. USD 350 million was contributed by its industrial products division, demonstrating the company's strong market position and ongoing upward trajectory.
  
• In 2024, Babcock & Wilcox Enterprises generated USD 717.3 million, of which USD 200.8 million came in the fourth quarter, representing a 15% increase from the previous year. The backlog increased 47% to USD 540.1 million, while full-year bookings increased 39% to USD 889.6 million, demonstrating robust demand and ongoing business momentum across key segments.
  

Water-Tube Condensing Low Temperature Industrial Boiler Market Companies

Major players operating in the water-tube condensing low temperature industrial boiler industry are:

• Babcock & Wilcox
• Babcock Wanson
• Burnham Commercial Boilers
• Clayton Industries
• Cleaver-Brooks
• EPCB Boiler
• Fulton
• Hurst Boiler & Welding
• IHI Corporation
• Johnston Boiler
• Miura America
• Rentech Boilers
• Thermax
• Thermodyne Boilers
• Victory Energy Operations
  

Water-Tube Condensing Low Temperature Industrial Boiler Industry News

• In July 2024, Thermax was awarded a USD 61 million contract by an industrial company to supply two CFBC boilers for a significant energy project in Botswana. TBWES took complete responsibility for the project including testing, supervision, and engineering. This transformative project entails the construction of a 300 MW power plant, which will expand the national utility's energy capacity while reinforcing Thermax's leadership in the energy infrastructure business.
  
• In March 2024, Babcock & Wilcox awarded contracts for USD 24 million to provide three industrial boilers to Central Asian and Middle Eastern petrochemical complexes. These boilers help diversify industrial infrastructure and allow for flexible fuel consumption.
  
• In May of 2024, Miura Co., Ltd. acquired Cleaver-Brooks, integrating them to their global boiler manufacturing network. The partnership aims to increase Miura's access to industrial heating markets globally by utilizing both companies' state-of-the-art thermal technology and improving Cleaver-Brooks' customer service and sustainable boiler solutions.
  
• In March 2023, Fulton launched their Vertical Steam Boiler, capable of producing 100-300 kW. This advanced model works with oil, gas, or LPG/Propane burners, achieving efficiency of 84%. It offers a cost-efficient and versatile solution tailored to the demands of diverse industrial applications.
  

The water-tube condensing low temperature industrial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Units), capacity (MMBTU/hr) & revenue (USD Million) from 2021 - 2034, for the following segments:

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Market, By Temperature

• ≤ 120°F
• > 120°F - 140°F
• > 140°F - 160°F
• > 160°F - 180°F

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 Fuel

• Natural gas
• Oil
• Coal
• Others

Market, By Application

• Food processing
• Pulp & paper
• Chemical
• Refinery
• Primary metal
• 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
  • Philippines
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil