Industrial Boilers Market Information Report: Information by Type (Fire-Tube, Water-Tube), by Fuel Type (Natural Gas & Biomass, Oil, Coal), by Boiler Horsepower (10-150 HP, 151-300 HP, and 301-600 HP), End-User (Chemical, Food Processing, Refineries, Metals & Mining) And by Region - Forecast to 2030

Industrial Boilers Market is projected to be worth USD 22.81 Billion by 2028, registering a CAGR of 6.28% during the forecast period, The market was valued at USD 15.11 Billion in 2020.

Industrial Boilers Market Scenario:

An industrial boiler is a steam or hot water boiler which operates with fuel such as natural gas, biomass, oil, or other options like coal. Industrial boilers heat or evaporate the water inside and transfer it to consumers through the functions undertaken by the pipe systems. Industrial boilers are used in a wide range of industries such as textiles, and food & beverages due to their easy operation, compact design, and higher efficiency. These globally propelling factors are expected to drive the growth of the industrial boiler market across the world.

Rapid industrialization, together with ongoing investments in developed and developing countries globally for the expansion of thermal power and rising demand for electricity, are major factors expected to drive the growth of the industrial boiler market over the forecast period. The growth of the food & beverages industry in developed and developing economies is expected to drive the industrial boiler market. In addition, increasing production capabilities and new plant installations in the food & beverages industry are expected to enhance the demand for industrial boilers.

Industrial Boilers Market Key Players:

The key players of global industrial boiler market are Babcock & Wilcox Co. (U.S.), Thermax Ltd. (India), General Electric Company (US), Doosan Heavy Industries & Construction (South Korea), Siemens (Germany), IHI Corporation (Japan), Dongfang Electric Corporation Ltd. (China), Bharat Heavy Electricals Ltd.(India), Harbin Power Equipment Co. Ltd.(China), Mitsubishi Heavy Industries Ltd.(Japan), Hitachi Ltd.(Japan).

Recent Developments

• Natural gas-fired boilers are most widely used in western countries because of their easy availability and regulatory guidelines concerning CO2 emissions in the global scenario. With increasingly stringent environmental regulations in developed countries, the market's natural gas & biomass segment is expected to grow rapidly during the forecast period.


• The oil-fired industrial boiler market is expected to witness lucrative gains driven by the continuous installation of advanced products and rising industrial sector investments. The increasing demand for efficient heating units in line with low-cost product installations will boost the industry's expansion. The growing market trends, including the shift toward optimal heating facilities coupled with high-capacity power generation, will further escalate the demand for oil-fired industrial boilers. Global companies are replacing conventional boilers with highly efficient boilers followed by advanced designs that will stimulate the business landscape.

Industrial Boilers Market Segmentation:

The industrial boiler market by fuel type is segmented into natural gas & biomass, oil, coal, and others. Natural gas & biomass is estimated to hold the largest share as most of the end-use industries such as chemical, metals & mining, and food processing are moving towards adopting natural gas as their primary fuel.  Based on boiler horsepower, the industrial boiler market is segmented into 10-150 HP, 151-300 HP, and 301-600 HP. The industrial boiler market was dominated by the 10-150 BHP segment as most of the end-use industries, such as chemical and food use boilers in the 10-150 BHP range. Rising demand from the food & beverages industry, which is a major market for 10-150 BHP boilers, is expected to drive the 10-150 BHP segment of the industrial boilers market.

Based on type, the market is classified into water-tube and fire-tube boilers. Among these, fire-tube segment is expected to dominate the market as it can be used for wide range of industrial application, providing higher efficiency, easy operation, and compact design. The industrial boiler market by fuel type is segmented into natural gas & biomass, oil, coal, and others. Natural gas & biomass is estimated to hold the largest share as most of the end-use industries such as chemical, metals & mining, and food processing are moving towards adopting natural gas as their primary fuel.  Based on boiler horsepower, the industrial boiler market is segmented into 10-150 HP, 151-300 HP, and 301-600 HP. The industrial boiler market was dominated by the 10-150 BHP segment as most of the end-use industries, such as chemical and food use boilers in the 10-150 BHP range. Rising demand from the food & beverages industry, which is a major market for 10-150 BHP boilers, is expected to drive the 10-150 BHP segment of the industrial boilers market.

Industrial boiler is a closed vessel in which fluid boilers is heated. It uses a fuel source of electricity to heat water or generate steam for industrial heating and humidification purpose. Hot water boilers are used to heat water for heating systems whereas steam boilers are used to generate steam for use in different applications such as power generation, agricultural soil steaming, and others.  Water tube and fire tube are two types of industrial boilers majorly used in industrial applications. Water tube boilers have higher temperature output compared to fire tube boilers. Rapid industrialization coupled with increase in investments toward expansion of manufacturing facilities would drive the global industrial boiler market. The key drivers of industrial boiler market include rising industrialization along with positive outlook towards food processing industry. Robust industrial growth across the countries in Asia comprising India, Indonesia, Philippines, and others would lead to increase in the demand for industrial boilers. Growing demand for energy efficient systems would further complement the business growth.

Industrial Boilers Market Regional Analysis

Industrial Boiler market by region is segmented into Asia Pacific, North America, Europe, the Middle East, Africa, and South America. North America is expected to hold the largest share during the forecast period due to rising due to the rising demand for energy and replacement of conventional boilers mainly in the US. Moreover, Asia Pacific is projected to grow at fastest rate during the forecast period owing to increasing population and increasing demand for power generation. In addition to this, Asia Pacific region is the major consumer of boilers, which are used in the food, chemical, refining, and metals & mining industry.

Moreover, growth in food processing industry would also boost the growth of industrial boilers. For instance, Indian government is providing incentives to promote investment in food processing industry which would However, the factors such as high installation cost are going to restraint the global industrial boiler market. The factors such as increasing use of natural gas and increasing demand for lean operations are expected to provide lucrative business opportunities to the global industrial boiler market.Industrial Boiler market has been segmented on the basis of type, fuel type, boiler horsepower, end-user, and region. Based on type, the market is classified into water-tube and fire-tube boilers. Among these, fire-tube segment is expected to dominate the market as it can be used for wide range of industrial application, providing higher efficiency, easy operation, and compact design.

Intended Audience:

• Industrial Boiler Manufacturers


• Traders & Distributors of Industrial Boilers


• Government & Research Organization


• Associations And Industrial Bodies


• R&D Institutions


• Environment Support Agencies


• Investment Banks and Private Equity Firms