Global Industrial Boilers Market Segmentation, By Tubing Methods (Fire Tube Boilers and Water Tube Boilers), Steam Pressure (High Pressure Boilers, Medium Pressure Boilers, and Low Pressure Boilers), Stream Usage (Process Boilers, Utility Boilers, and Marine Boilers), Furnace Position (Externally Fired Boilers, and Internally Fired Boilers), Shell Axis (Horizontal Boilers and Vertical Boilers), Tubes in Boilers (Multi-Tube Boilers and Single Boilers), Water and Steam Circulation in Boilers (Forced Circulation Boilers and Natural Circulation Boilers), Fuel Type (Coal-Fired Boilers, Oil Fired Boilers, Gas Fired Boilers, Biomass Boilers, and Others), Type 9Condensing Hot Water Boiler, Integrated Condensing Hot Water Boiler, Integrated Condensing Steam Boiler, Split Condensing Steam Boiler, Electric Heated Steam Boiler, Electric Hot Water Boilers, and Others), Boiler Horsepower (10 - 150 BHP, 151 - 300 BHP, 301 - 600 BHP, and Above 600 BHP), Industry (Food Industry, Breweries, Laundries And Cleaning Firm, Construction, Pharmaceutical, Automotive, Pulp and Paper, Hospitals, Refinery, Power Generation, Agriculture, Packaging, Chemicals and Petrochemicals, Metal and Mining, and Others) – Industry Trends and Forecast to 2031.
Industrial Boilers Market Analysis
Industrial boilers market is witnessing significant advancements in methods and technology. Modern developments focus on energy efficiency, automation, and emission control. Condensing boilers, for instance, are increasingly adopted due to their ability to recover waste heat, enhancing energy utilization. The integration of Internet of Things (IoT) technology enables real-time monitoring, predictive maintenance, and optimized performance, reducing operational downtime.
Hybrid boilers, which combine renewable energy sources such as biomass with traditional fuels, are also growing in popularity as industries strive to meet sustainability targets. Advanced materials, such as corrosion-resistant alloys, are being used to enhance the longevity and efficiency of boilers, reducing maintenance costs.
This technological evolution is driving growth in industries such as chemicals, food and beverage, and energy, where optimized heating solutions are critical. The push for reduced carbon emissions and compliance with stringent environmental regulations is accelerating the adoption of these technologies globally. The industrial boilers market is projected to expand as demand for energy-efficient, high-performance solutions rises, driven by increasing industrialization and the shift towards cleaner energy sources.
Industrial Boilers Market Size
The global industrial boilers market size was valued at USD 16.17 billion in 2023 and is projected to reach USD 20.96 billion by 2031, with a CAGR of 3.3% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Industrial Boilers Market Trends
“Shift Toward Energy-Efficient Boilers Driving Market Growth”
One specific trend driving growth in the industrial boilers market is the increasing demand for energy-efficient and eco-friendly boilers. With industries aiming to reduce carbon emissions and lower operational costs, manufacturers are focusing on developing boilers that use less fuel while maximizing heat output. For instance, Cleaver-Brooks introduced its CBEX Dryback Elite boiler, which provides high efficiency with lower emissions, meeting stringent global environmental standards. This trend is further supported by government regulations and incentives for sustainable energy solutions, encouraging industries such as food processing, chemicals, and manufacturing to adopt these advanced boiler systems, leading to significant market growth.
Report Scope and Industrial Boilers Market Segmentation
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Attributes
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Industrial Boilers Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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RSA Security LLC (U.S.), Genpact (U.S.), MetricStream (U.S.), KPMG Česká republika, s.r.o. (Netherlands), BitSight Technologies, Inc. (U.S.), Ernst & Young Global Limited (U.K.), PwC (U.K.), ProcessUnity, Inc. (U.S.), Venminder, Inc. (U.S.), Resolver Inc. (Canada), NAVEX Global, Inc. (U.S.), Riskpro (India), SAI Global Pty Limited (U.S.), Rapid Ratings International Inc. (U.S.), Optiv Security Inc. (U.S.), Aravo Solutions, Inc. (U.S.), OneTrust, LLC. (U.S.), and Prevalent, Inc. (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Industrial Boilers Market Definition
The industrial boilers market is experiencing steady growth due to rising demand across various sectors such as chemicals, food processing, and power generation. The increasing emphasis on energy efficiency and the adoption of cleaner fuel technologies is driving this market. Government regulations for reducing carbon emissions are encouraging industries to upgrade to eco-friendly boilers. Moreover, the rising investments in expanding industrial infrastructure, especially in emerging economies, are contributing to the growth. Technological advancements such as automation in boiler operations and enhanced monitoring systems are also fostering market expansion. This trend is expected to continue over the next few years.
Industrial Boilers Market Dynamics
Drivers
- Rising Demand for Steam in Various Industries
Rising demand for steam across industries such as paper, pulp, and food processing is driving the industrial boilers market. For instance, In March 2021, Siemens AG launched the SICONTOP, a novel control system for industrial boilers. This innovation has proven instrumental in enhancing operational efficiency, contributing to Siemens AG's increased revenue in the industrial boilers market. The SICONTOP system addresses industry needs, positioning the company for growth and market leadership.
- Growth in the Food and Beverage Industry
The food and beverage sector relies heavily on industrial boilers for precise temperature control, sterilization, and steam generation, crucial for various processes such as pasteurization and cooking. For instance, In August 2022, Thermax Babcock & Wilcox Energy Solutions introduced FlexiSource, a versatile multi-waste solution. This innovative system addresses challenges related to fuel availability arising from geopolitical changes, fluctuating prices, and environmental concerns. FlexiSource provides adaptability, ensuring reliable energy input for industries navigating dynamic global conditions and evolving environmental considerations.
Opportunities
- Need for Efficient Heating Solutions
The shift towards high-efficiency boilers creates significant opportunities in the market by reducing fuel consumption and operational costs. For instance, the adoption of condensing boilers in the HVAC sector allows businesses to save up to 30% on fuel bills compared to traditional models. This efficiency drive not only lowers energy costs but also aligns with regulatory mandates, enhancing market growth potential as industries seek cost-effective and eco-friendly solutions.
- Increased Investment in Power Generation
The expansion of power generation, especially in emerging economies such as India and China, creates significant opportunities for the industrial boilers market. For instance, India's ambitious plans to add new coal-fired power plants drive demand for large-scale, efficient boilers. This growth in thermal power plants necessitates advanced boiler systems to meet energy demands and improve operational efficiency, thus creating lucrative opportunities for market players.
Restraints/Challenges
- High Initial Cost
The initial investment for industrial boilers is considerable, covering the boiler itself, installation, and supporting infrastructure. This substantial expense poses a significant barrier, especially for smaller companies with limited capital. The financial strain of these upfront costs can hinder their ability to invest in modern boiler systems, restricting market growth and limiting opportunities for adopting advanced technologies.
- Limited Space and Infrastructure
In some industrial settings, limited space poses a significant challenge for installing large boiler systems. This constraint often prevents the adoption of advanced boiler technologies that require substantial room for installation and operation. The lack of adequate infrastructure to support these systems further exacerbates the issue, hindering market growth and limiting the deployment of modern, efficient boiler solutions.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Industrial Boilers Market Scope
The market is segmented on the basis of tubing methods, steam pressure, stream usage, furnace position, shell axis, tubes in boilers, water and steam circulation in boilers, fuel type, product type, boiler horsepower, and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Tubing Methods
- Fire Tube Boilers
- Water Tube Boilers
Steam Pressure
- High Pressure Boilers
- Medium Pressure Boilers
- Low Pressure Boilers
Stream Usage
- Process Boilers
- Utility Boilers
- Marine Boilers
Furnace Position
- Externally Fired Boilers
- Internally Fired Boilers
Shell Axis
- Horizontal Boilers
- Vertical Boilers
Tubes in Boilers
- Multi-Tube Boilers
- Single Boilers
Water and Steam Circulation in Boilers
- Forced Circulation Boilers
- Natural Circulation Boilers
Fuel Type
- Coal-Fired Boilers
- Oil Fired Boilers
- Gas Fired Boilers
- Biomass Boilers
- Others
Product Type
- Condensing Hot Water Boiler
- Integrated Condensing Hot Water Boiler
- Integrated Condensing Steam Boiler
- Split Condensing Steam Boiler
- Electric Heated Steam Boiler
- Electric Hot Water Boilers
- Others
Boiler Horsepower
- 10 - 150 BHP
- 151 - 300 BHP
- 301 - 600 BHP
- Above 600 BHP
Industry
- Food Industry
- Breweries
- Laundries and Cleaning Firm
- Construction
- Pharmaceutical
- Automotive
- Pulp and Paper
- Hospitals
- Refinery
- Power Generation
- Agriculture
- Packaging
- Chemicals and Petrochemicals
- Metal and Mining
- Others
Industrial Boilers Market Regional Analysis
The market is analyzed and market size insights and trends are provided by tubing methods, steam pressure, stream usage, furnace position, shell axis, tubes in boilers, water and steam circulation in boilers, fuel type, product type, boiler horsepower, and industry as referenced above.
The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia Pacific dominates the industrial boilers market, fuelled by a growing population, increasing internet usage, and rapid industrialization. The region's demand for efficient communication networks aligns with the capabilities of industrial boilers, especially those incorporating photonic integrated circuits (PICs), making it a dominant force in the global market.
North America is expected to dominate the industrial boilers market, driven by a robust automotive infrastructure and the substantial presence of key industry players. The region benefits from a well-established foundation of manufacturing facilities, fostering a high demand for industrial boilers and solidifying its position as a dominant force in the market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Industrial Boilers Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Industrial Boilers Market Leaders Operating in the Market Are:
- RSA Security LLC (U.S.)
- Genpact (U.S.)
- MetricStream (U.S.)
- KPMG Česká republika, s.r.o. (Netherlands)
- BitSight Technologies, Inc. (U.S.)
- Ernst & Young Global Limited (U.K.)
- PwC (U.K.)
- ProcessUnity, Inc. (U.S.)
- Venminder, Inc. (U.S.)
- Resolver Inc. (Canada)
- NAVEX Global, Inc. (U.S.)
- Riskpro (India)
- SAI Global Pty Limited (U.S.)
- Rapid Ratings International Inc. (U.S.)
- Optiv Security Inc. (U.S.)
- Aravo Solutions, Inc. (U.S.)
- OneTrust, LLC. (U.S.)
- Prevalent, Inc. (U.S.)
Latest Developments in Industrial Boilers Market
- In December 2022, Bharat Heavy Electricals (BHEL) entered a Technology Licence Agreement with Sumitomo SHI FW of Finland to produce supercritical and subcritical Circulating Fluidized Bed Combustion (CFBC) boilers. This collaboration enables BHEL to engineer and sell CFBC boilers domestically and internationally, leveraging CFBC technology's advantages, including fuel flexibility, reduced emissions, and bio-mass co-firing capability
- In November 2022, Babcock & Wilcox secured a contract exceeding USD 24 million to provide advanced control technologies, two industrial package boilers, and auxiliary equipment for a petrochemical processing plant in North America. This agreement reflects B&W's expertise in delivering comprehensive solutions to enhance efficiency and reliability in industrial processes
- In August 2022, Thermax, a leader in energy and environmental solutions, introduced a pioneering multi-fuel boiler solution. Designed for industrial users transitioning from traditional to green energy, this innovative system offers flexibility by allowing seamless switching between different fuel inputs. This advancement aligns with the growing emphasis on sustainable and versatile energy solutions
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