Boiler System Market Research Report Information Report byType (Oil Fired, Gas Fired), by Capacity (upto 20 Tonnes, 20 to 40 Tonnes, 40 to 50 Tonnes) - Forecast To 2030

Boiler System Market Overview

The MRFR analysis reports predict that the global boiler systems market will likely grow substantially during the assessment period at a healthy CAGR of around 4.8%. The reports further anticipate the market to attain a size of around USD 28660.46 Million by the end of 2030. The market was worth nearly USD 1,900.4 million in 2014. The main parameter causing a surge in the performance of the global market is the increasing demand for power generation given to rapid industrialization and population increase across the globe. The pharmaceutical industries worldwide have also been a rapid growth in investments, which is also likely to positively impact the performance of the global market for boiler systems over the assessment period.

Steam Boiler manufacturers are gradually producing energy-efficient equipment to reduce their carbon footprint and provide consumers with energy savings. Some boilers are fuel driven, meaning they can operate on multiple fuels. Such advancements are likely to switch traditional single-fuel steam boilers. Over the coming years, such steam boilers will be the reason to offer substantial opportunities for various global market players. The rise in energy-efficient appliances can be attributed to stringent government controls on electric home appliances and technological developments. New low NOx guidelines are being deployed to stop or lower the adverse impacts of NOx gases on the environment. A very hazardous family of reactive gases is produced when fuel is burned at high temperatures, such as in water heaters, furnaces, boilers, and even car engines. Given NOx's apparent negative environmental impacts, many boiler manufacturers are attempting to get ahead of the impending legislation. The boilers function to produce vapors from the water that flows via tubes. They are heated by the combustion of several fossil fuels, like natural gas and coal, that are a part of the major demand globally.

Boiler System Market Drivers

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  Escalating Power Demand Around the World

  
  

The world has witnessed rapid industrialization and population growth, especially across emerging nations. Given all of this, the rise in demand for power across the majority of the industry sectors is believed to be the main parameter causing a surge in the global market performance.

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  The Use of IoT in Industrial Applications

  
  

Furthermore, adopting advanced technologies in the boiler systems, such as IoT in industrial applications, is likely to boost-up the growth of the global market. The majority of the boiler system units now include Wifi functionality, enabling the user to manage the unit from almost anywhere via an internet connection. Customers will progressively be able to manage and monitor their boilers utilizing applications on their mobile devices. With the increase of automation and IoT, companies are focusing on offering smart boilers that help boiler attendants and operators swiftly identify possible energy losses and recommend tangible techniques to remedy them.

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  Growing Use in Food & Beverages and Pharmaceutical Sector

  
  

Industrial boilers are highly utilized across chemical, food & beverage, and metal industries. The growing trend is for higher efficiency and effectiveness in the food processing and pharmaceutical sectors. Along with this, the escalating demand for clean energy sources is also believed to impact the global market's growth positively.

Boiler System Market Restraints

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  High Maintenance Cost

  
  

The boiler systems constantly require regular maintenance. The high maintenance costs of these boiler systems will likely hinder market growth. In addition, the major challenge faced by the global market is the global shift towards renewable energy for power generation, which is also likely to restrict the performance of the global market over the coming years.

Boiler System Market Segmentation

Boiler System Market Type Insights

Based on the type, the global market for boiler systems is divided into oil, gas, coal, electric, and others. Among all the types, the electric segment is anticipated to ensure the leading position across the global market, given the increased use of electrical equipment and machinery, economic growth, and industrialization. Consequently, the requirement for power-generating systems, particularly steam boiler systems, is increasing. Additionally, the rise in the addition of power plant capacity given to the development of new power plants and the recovery of present ones worldwide is projected to aggravate the global demand. The coal market contributed to the maximum market share. The reasons attributed to the demand rise are the substantial usage of fossil fuels for electricity production in developing nations.

Steam Boiler Market End User Industry Insights

Based on the end-user industry, the global market for boiler systems is divided into Paper and Pulp, Oil and Gas, Chemical, Commercial, Food & Beverage, Metal & Mining, Energy & Power, and others. Given that the energy and power segment is anticipated to ensure the leading position across the global market.  

Global Boiler System Market Regional Analysis

The global market for Boiler Systems is analyzed across five major geographies: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

The study papers by MRFR imply that The European Region ensured the main position across the global Boiler Systems industry in 2022. The region is known for the presence of vital expansion contributors such as France, Germany, and the U.K. The region's main parameter supporting regional market expansion is the presence of established manufacturing industries.

The Asia-pacific Region projects to ensure the second spot across the global Boiler Systems industry over the coming years. The regional market will display the maximum expansion rate over the assessment era. The region is known for the presence of vital expansion contributors such as India, China, and Indonesia. The main parameter supporting regional market expansion is the increasing demand for energy and the increasing rate of industrialization in the Asia-pacific region.

The North American Region is expected to grow substantially across the global Boiler Systems industry from 2023 to 2032. The region is known for vital expansion contributors such as Mexico, the U.S., and Canada. The main parameter supporting regional market expansion is the escalating power demand.

Competitive Analysis

The global market for Boiler Systems is known to have a strong and competitive landscape. The players across the market are focusing on investments in research & development activities to expand their product lines, which will help the Boiler Systems market grow even more. They are also considering several strategic activities to expand their footprint, with vital market developments including new product launches, higher investments, mergers & acquisitions, contractual agreements, and collaboration with other organizations. The list of prominent participants across the global market for Boiler Systems includes players such as Siemens AG (Germany), Danstoker Boilers (Denmark), Proodos Industrial Boilers (Greece), Bosch Industriekessel (Germany), Byworth Boilers (U.K.),  Babcock & Wilcox Enterprises, Inc. (U.S.), Rentech Boilers (U.S.), AC Boilers S.p.A (Italy), ATTSU Termica (Spain), Mitsubishi Hitachi Power Systems, Ltd. (Japan), and several others.

Boiler System Market Segmentation

Boiler System Market, By Type

• Oil


• Gas


• Coal


• Electric


• Others

Boiler System Market, By End-Use Industry

• Paper and Pulp


• Oil and Gas


• Chemical


• Commercial


• Food & Beverage


• Metal & Mining


• Energy & Power


• Others

Boiler System Market, By Region

North America

• US


• Canada


• Mexico

Europe

• Germany


• France


• UK


• Rest of Europe

Asia-Pacific

• China


• Japan


• India


• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa


• South America