Industrial Boilers Market

Global Industrial Boilers Market Size (2024 to 2032)

The global industrial boilers market was valued at USD 13.71 billion in 2023 and is anticipated to reach USD 14.65 billion in 2024 from USD 24.93 billion by 2032, growing at a CAGR of 6.87% from 2024 to 2032. 

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.

Market Drivers

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 COVERAGE

REGIONAL ANALYSIS

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.

KEY MARKET PLAYERS

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.

DETAILED SEGMENTATION OF THE GLOBAL INDUSTRIAL BOILERS MARKET INCLUDED IN THIS REPORT

This research report on the global industrial boilers market is segmented and sub-segmented into the following categories.

By Type

• Fire Tube
• Water Tube

By Application

• Refineries
• Primary Metal
• Chemical
• Food

By Product

• 301BHP-600BHP
• 151BHP-300BHP
• 10BHP-150BHP 

By Fuel

• Gas
• Coal
• Oil

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa