The global industrial boilers market size is expected to reach USD 14.65 billion in 2024 and reach USD 20.43 billion by 2029, growing at a CAGR of 6.87%, from 2024 to 2029.
Regulations imposed by the foremost environmental regulatory bodies encourage numerous industries to check their emissions. As a result, companies are implementing measures to generate energy while decreasing emissions. Measures towards strength optimization coupled with increasing adoption of energy-efficient heating systems will propel the Industrial boilers market. In November 2015, the European Union introduced Directive (European) 2015/2193 with an intention to reduce emissions from combustion devices.
The development of ultra-mega power projects in emerging economies will drive the growth prospects for the global commercial boiler marketplace over the next few years. The use of new materials in biomass beds now not only increases the performance of the waste but also reduces the value of biomass boilers. Also, the distribution of oxygen in the boiler will enhance the performance and uniformity of combustion.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
16.73% |
Segments Covered |
By Type, Application, Product, Fuel, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Babcock & Wilcox Enterprises, Inc. (U.S.), Dongfang Electric Corporation Ltd. (China), Siemens AG (Germany), General Electric (U.S.), AC Boilers S.p.a. (Europe), Bharat Heavy Electricals Limited (India), Harbin Electric Group (China), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Thermax Limited (India) and Others. |
North America leads the Industrial Boilers market due to the presence of a large number of companies in the industry and increasing investments from the government. Asia Pacific is the fastest-growing market segment due to the growing petrochemical industries and increasing collaborations with Western companies in countries such as India and China.
Babcock & Wilcox Enterprises, Inc. (U.S.), Dongfang Electric Corporation Ltd. (China), Siemens AG (Germany), General Electric (U.S.), AC Boilers S.p.a. (Europe), Bharat Heavy Electricals Limited (India), Harbin Electric Group (China), IHI Corporation (Japan), Mitsubishi Hitachi Power Systems, Ltd. (Japan), Thermax Limited (India). Some of the market players dominate the global Industrial boilers market.
By Type
By Application
By Product
By Fuel
By Region
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