Industrial Boilers

Global Industrial Boilers Market to Reach US$28.8 Billion by 2030

The global market for Industrial Boilers estimated at US$21.4 Billion in the year 2024, is expected to reach US$28.8 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2024-2030. Fire-Tube, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$17.9 Billion by the end of the analysis period. Growth in the Water-Tube segment is estimated at 4.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.8 Billion While China is Forecast to Grow at 4.8% CAGR

The Industrial Boilers market in the U.S. is estimated at US$5.8 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2030 trailing a CAGR of 4.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.0% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Global Industrial Boilers Market - Key Trends and Drivers Summarized

Industrial boilers have become indispensable in modern manufacturing, providing essential steam and heat for various industrial processes. From their origins in the 18th century`s Industrial Revolution, these boilers have undergone significant advancements, evolving from simple fire-based models to sophisticated systems designed to meet stringent efficiency and environmental standards. Today`s industrial boilers incorporate cutting-edge technologies that enhance their functionality and reduce their environmental footprint, with developments in materials and combustion technologies leading the way. The classification of boilers into categories such as fire tube, water tube, and cast iron types reflects their diverse applications across different industrial settings, each tailored to specific operational needs and capacity requirements.

The role of industrial boilers extends across numerous sectors, highlighting their versatility in applications ranging from power generation and heating to specialized processes in the textile, chemical, and food processing industries. In these applications, boilers are crucial for activities such as fabric dyeing, chemical reactions, and food sterilization, underscoring their importance in maintaining industrial productivity and adherence to safety standards. Regular maintenance and compliance with regulatory standards are paramount for the safe and efficient operation of these boilers, with companies like EPCB Boiler emphasizing the significance of routine checks and safety systems to prolong equipment life and enhance performance. This meticulous attention to operational and safety standards not only ensures reliability but also supports industry compliance and environmental protection efforts.

The global market for industrial boilers is experiencing growth driven by several key factors. Technological advancements that increase efficiency and minimize environmental impact are crucial, as these innovations help meet the growing demands for energy-efficient and eco-friendly operations. Stricter environmental regulations push industries towards adopting modern boilers that conform to emission standards, thereby reducing the industrial carbon footprint. Additionally, the diverse range of boiler applications across various sectors propels their demand, making them vital components in a multitude of industrial processes. Economic growth in emerging markets also stimulates the demand for industrial boilers, particularly in regions experiencing rapid industrialization. Moreover, the operational flexibility offered by modern boilers enhances their appeal in industries that require reliable and efficient performance under varying loads. As industries continue to focus on sustainability, the development of boilers that can integrate with renewable energy sources and offer improved environmental performance is expected to shape future market trends, aligning industrial needs with global sustainability goals.

SCOPE OF STUDY:

The report analyzes the Industrial Boilers market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Boiler Type (Fire-Tube, Water-Tube); Fuel Type (Natural Gas & Biomass, Coal, Oil, Other Fuel Types); End-Use (Chemical, Food, Refineries, Metals & Mining, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 17 Featured) -

• AERCO
• Babcock & Wilcox Enterprises, Inc.
• Electro-Steam Generator Corp.
• Harbin Electric Corporation co.,Ltd.
• IHI Corporation
• John Wood Group PLC
• Nationwide Boiler Inc.
• Siemens AG
• Sofinter S.p.a
• Thermax Limited

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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