Industrial Boilers Market Size

Increasing Demand from the Hospitality Industry

The hospitality industry has a professional mandate to ensure that their guests always have access to hot water on demand, so steam boiler heat and hot water needs are essential for any resort or hotel. Steam boilers may also be used for a variety of other critical operations, such as maintaining a consistent temperature throughout the property, cleaning guest rooms and sanitation of towels, uniforms, and other laundry services, and foodservice and preparation, to name a few.

Hotel steam boilers can suffer from heavy wear and tear, as well as scale accumulation, due to 24-7 usage and fluctuations and high pressure in the hot water system demand during times of peak usage. The hotel will be unable to provide critical services to its guests if the boiler system fails. As a result, steam boilers are a critical asset for the hospitality industry, driving the overall market.

Some of the key factors for the growth of the hospitality industry in the major economies include rising disposable incomes, growth in international tourism, penetration of international hotel brands, and increased government investments for developing the tourism industry. In Asia Pacific region, Indonesia, Thailand, and Vietnam are leading the way in terms of development. The majority of new hotel rooms in South East Asia have been focused on major urban and suburban markets in the upper-midscale to upper-upscale market segments in recent years, resulting in an unprecedented hotel development boom.

Thailand is the market leader in the hotel residence sector, accounting for 30% of the total supply forecasted for the region. It is the world's ninth-most visited country and Southeast Asia's most visited country. With five-star hotels, spas, and resorts, as well as medical tourism and wellness, Thailand has become a hotspot for luxury. In addition, the country has upgraded international airports in order to boost tourism.

Europe is the second-most visited country in the world, with domestic hotels accounting for roughly 70% of the total hotel market. In addition, the Indonesian government is focusing on expanding its tourist destinations in order to increase foreign tourist arrivals and domestic trips (the new Balis). Furthermore, demand from international investors for both investment and lifestyle purposes has increased dramatically. Expansion of foreign property ownership reforms is expected to drive transaction volume even higher, given the region's favorable price competitiveness compared to other major markets.

The Global Industrial Boiler Market Industry is projected to experience substantial growth in the coming years. With an estimated market value of 5.1 USD Billion in 2024, the industry is poised for a remarkable expansion trajectory. The anticipated compound annual growth rate of 10.73 percent from 2025 to 2035 indicates a robust demand for industrial boilers across various sectors. This growth is driven by factors such as increasing energy efficiency requirements, technological advancements, and the expansion of manufacturing industries. As industries continue to invest in modern boiler systems, the market is likely to evolve, reflecting the changing dynamics of energy consumption and environmental sustainability.

The Global Industrial Boiler Market Industry experiences a notable surge in demand for energy-efficient solutions. Industries are increasingly focusing on reducing operational costs and minimizing environmental impact. This trend is driven by stringent regulations aimed at lowering greenhouse gas emissions. For instance, energy-efficient boilers can reduce fuel consumption by up to 20 percent, which translates into significant cost savings. As a result, the market is projected to reach 5.1 USD Billion in 2024, with a growing emphasis on sustainable practices across various sectors. This shift not only enhances operational efficiency but also aligns with global sustainability goals.

The Global Industrial Boiler Market Industry is witnessing a paradigm shift towards renewable energy sources. Industries are increasingly exploring biomass, solar, and waste heat recovery systems as alternatives to traditional fossil fuels. This transition is driven by the need for sustainable energy solutions and the desire to reduce carbon footprints. For example, biomass boilers utilize organic materials, offering a renewable energy source that aligns with global sustainability goals. As this trend gains momentum, the market is expected to expand significantly, potentially reaching 15.7 USD Billion by 2035. This shift not only supports environmental initiatives but also enhances energy security for industries.

Technological innovations play a pivotal role in shaping the Global Industrial Boiler Market Industry. The introduction of advanced boiler designs, such as modular and condensing boilers, enhances performance and reliability. These innovations allow for better heat recovery and lower emissions, catering to the evolving needs of industries. For example, the integration of smart technology enables real-time monitoring and predictive maintenance, reducing downtime. As industries adopt these cutting-edge solutions, the market is expected to witness substantial growth, potentially reaching 15.7 USD Billion by 2035. This technological evolution not only improves efficiency but also supports compliance with increasingly stringent regulations.

The Global Industrial Boiler Market Industry is significantly influenced by the expansion of manufacturing and process industries. As these sectors grow, the demand for steam and hot water generation increases, driving the need for industrial boilers. Industries such as food processing, pharmaceuticals, and chemicals rely heavily on efficient boiler systems for their operations. The continuous growth in these sectors indicates a robust market potential, with projections suggesting a compound annual growth rate of 10.73 percent from 2025 to 2035. This growth trajectory underscores the critical role of industrial boilers in supporting production processes and enhancing overall operational efficiency.

Regulatory compliance is a crucial driver for the Global Industrial Boiler Market Industry. Governments worldwide are implementing stringent environmental regulations to curb emissions and promote cleaner technologies. Industries are compelled to adopt boilers that meet these standards, leading to increased investments in advanced boiler systems. For instance, the implementation of emission reduction targets has prompted many companies to upgrade their existing boiler systems. This trend not only ensures compliance but also enhances operational efficiency. As a result, the market is poised for growth, with a projected value of 5.1 USD Billion in 2024, reflecting the industry's commitment to sustainability and regulatory adherence.

In the Industrial boilers market, several key players have established themselves as major contributors to the industry's growth and innovation. Among these prominent players are Robert Bosch GmbH, IHI Corporation, General Electric Company, GETABEC Public Company Limited, Thai Steam Service & Supply Co. Ltd, Alfa Laval, Wuxi Zozen Boilers Co., Ltd, Atlas Copco AB, and others holding particularly strong positions.

The competitive landscape offers an analysis of the key developments by the companies operating in the global market in the last three years. The market for Steam Boiler is projected to witness healthy growth during the forecast period, owing to the increasing demand from the healthcare sector. The market represents strong numbers in terms of consumption. 

Alfa Laval: Alfa Laval is a global leader in producing high-quality products for heat transfer, Boilers, separation, and fluid handling. The company offers products in 3 segments: energy, food & water, and marine. The products, systems, and services of Alfa Laval are sold in more than 100 countries, and the company has a presence throughout North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The production system of Alfa Laval is built on its three core technologies to guarantee the highest possible capacity utilization throughout all its manufacturing facilities.

All divisions market products, which can be applied to numerous processes and fields. The company's operations are concentrated on key production chain tasks like enhancing the manufacturing footprint generally, automation, digitization, and sustainability concerns. The work related to the supply chain is handled by operations development.

Wuxi ZOZEN Boilers Co., Ltd: Wuxi ZOZEN Boilers Co., Ltd. has been committed to manufacturing, researching, and developing industrial boilers since its foundation in 1988.  The company has eight modern workshops with an annual capacity of 12,000 tons/hour, and the annual output is USD 100 million. The company's business segment includes gas/oil boilers, coal boilers, biomass boilers, thermal oil heaters, and auxiliary parts. ZOZEN has obtained over 50 national patents, ASME "S" and "U" stamps and many other international certificates.