The Global Industrial Boilers Market is Anticipated to reach USD 26.34 Billion by 2030 from an estimated USD 18.11 Billion in 2023, at a CAGR of 5.50% in the forecast period.

Overview of the global industrial Boilers Market

The global Industrial Boilers Market is a rapidly growing market that is driven by the increasing demand for energy-efficient and clean technologies across various industries. Industrial boilers are large vessels that are used to generate steam or hot water for industrial processes. They are widely used in various industries, such as power generation, oil and gas, chemical, food and beverage, and others.

The market for industrial boilers is expected to grow at a significant rate in the coming years due to the increasing demand for energy-efficient and clean technologies, as well as the growing demand for electricity and heat from various industries. Additionally, stringent regulations on emissions and increasing awareness regarding the benefits of using clean technologies are expected to further boost the market growth.

The market is segmented based on type, fuel type, end-use industry, and region. The most common types of industrial boilers are fire-tube boilers, water-tube boilers, and others. The fuel types used for industrial boilers include coal, natural gas, oil, and others. The end-use industries for industrial boilers include power generation, oil and gas, chemical, food and beverage, and others.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is expected to dominate the market due to the presence of emerging economies like China and India, which are major consumers of industrial boilers. The market in Europe and North America is also expected to grow due to the increasing demand for energy-efficient technologies and the adoption of renewable energy sources.

The major players operating in the global Industrial Boilers Market include

• Thermax Ltd.
• Siemens AG
• Bharat Heavy Electricals Ltd.
• Forbes Marshall
• Mitsubishi Heavy Industries, Ltd.
• Harbin Electric Corporation
• Cheema Boilers Limited
• IHI Corporation
• AC Boilers
• Dongfang Electric Corporation Ltd.

Global Industrial Boilers Market Segmentation

By Type

• Fire-Tube
• Water-Tube

By Fuel Type

• Natural Gas & Biomass
• Oil
• Coal

By Boiler Horsepower

• 10-150 HP
• 151-300 HP
• 301-600 HP

End-User

• Chemical
• Food Processing
• Refineries
• Metals & Mining

Industrial Boilers Market Major Developments

• Increasing adoption of clean energy sources: The adoption of clean energy sources such as natural gas, biomass, and solar energy has been increasing in the industrial boilers market. This trend is driven by the growing demand for energy-efficient and sustainable technologies.
• Technological advancements: The industrial boilers market has seen significant technological advancements in recent years, particularly in the areas of efficiency, emissions control, and automation. For instance, the use of advanced control systems and sensors is enabling better control over the combustion process, leading to greater efficiency and reduced emissions.
• Mergers and acquisitions: The industrial boilers market has seen a number of mergers and acquisitions in recent years, with major players acquiring smaller companies to expand their market presence and improve their product offerings. For instance, in 2020, Mitsubishi Hitachi Power Systems acquired the assets of GE Power's industrial boiler business, strengthening its position in the market.
• Increasing demand from emerging economies: The industrial boilers market is witnessing significant growth in emerging economies such as China, India, and Brazil, which are major consumers of industrial boilers. This trend is driven by the growing industrialization and urbanization in these countries, which is leading to an increase in demand for energy.
• Focus on sustainability: There is a growing focus on sustainability in the industrial boilers market, with companies investing in technologies that reduce emissions and improve efficiency. For instance, many companies are adopting technologies such as flue gas desulfurization and selective catalytic reduction to reduce emissions of sulfur dioxide and nitrogen oxides.

Industrial Boilers Market Regional Insights

• The North American region, comprising the United States and Canada, is one of the largest markets for industrial cleaning chemicals. The region's demand is driven by various end-use industries, including manufacturing, healthcare, and food and beverage. The increasing emphasis on maintaining hygiene and cleanliness in these industries is driving the market's growth. The North American industrial boilers market is expected to grow at a moderate rate due to the growing demand for energy-efficient and clean technologies. The market is primarily driven by the presence of major players such as General Electric Company, Babcock & Wilcox Enterprises, and Fulton Boiler Works. Additionally, the implementation of stringent regulations on emissions is driving the adoption of cleaner technologies in the region.
• The European industrial boilers market is expected to grow at a significant rate due to the increasing focus on reducing carbon emissions and improving energy efficiency. The market is driven by the presence of major players such as Siemens AG, Amec Foster Wheeler plc, and Thermax Ltd. Additionally, the increasing adoption of renewable energy sources is expected to further boost the market growth in the region.
• The Asia Pacific industrial boilers market is expected to dominate the global market due to the presence of emerging economies such as China and India, which are major consumers of industrial boilers. The market is primarily driven by the increasing demand for electricity and heat from various industries such as power generation, oil and gas, and food and beverage. Additionally, the growing adoption of clean energy sources and the implementation of government initiatives for reducing emissions are expected to further boost the market growth in the region.
• The Latin American industrial boilers market is expected to grow at a moderate rate due to the increasing demand for energy-efficient technologies and the adoption of renewable energy sources. The market is primarily driven by the presence of major players such as Cleaver-Brooks, Inc. and Victory Energy Operations, LLC.
• The Middle East and Africa industrial boilers market is expected to grow at a moderate rate due to the growing demand for electricity and heat from various industries. The market is primarily driven by the presence of major players such as Doosan Heavy Industries & Construction and AC Boilers S.p.A. Additionally, the increasing adoption of clean energy sources is expected to further boost the market growth in the region.

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA