Industrial Boiler Market Summary
Introduction
Industrial boilers are critical systems used to generate steam or hot water for industrial processes, powering applications across food processing, chemical production, and power generation. The industry is characterized by its role in providing efficient, reliable, and sustainable thermal energy solutions. Key trends include the adoption of energy-efficient designs, biomass and renewable fuel compatibility, and digital monitoring systems for optimized performance. The market is driven by industrial expansion, stringent environmental regulations, and the need for sustainable energy solutions, with challenges including high installation costs and complex maintenance requirements. The global industrial boiler market was valued at USD 7.2-13.5 billion in 2024, with an estimated CAGR of 4.0%-6.0% from 2025 to 2030, propelled by chemical and power generation applications.Market Size and Growth Forecast
The global Industrial Boiler market was valued at USD 7.2-13.5 billion in 2024, with an estimated CAGR of 4.0%-6.0% from 2025 to 2030, driven by chemical and power generation applications.Regional Analysis
- Asia Pacific is projected to grow at a CAGR of 4.5%-6.5%, led by China and India, where industrial growth and energy demand drive boiler adoption, with trends focusing on biomass and low-emission systems.
- North America anticipates a CAGR of 3.8%-5.8%, with the United States leading due to chemical and oil and gas applications, emphasizing energy-efficient designs.
- Europe expects a CAGR of 3.5%-5.5%, with Germany and the UK driving growth through sustainable boiler technologies for power generation and paper industries.
- Rest of the World is projected to grow at a CAGR of 3.2%-5.2%, supported by industrial expansion in Latin America and the Middle East, with trends toward cost-effective solutions.
Application Analysis
- Food processing applications are estimated to grow at a CAGR of 4.0%-6.0%, driven by steam requirements in food production, with trends toward compact, efficient boilers.
- Chemical and petrochemical applications are projected to expand at a CAGR of 4.5%-6.5%, fueled by high-temperature process needs, emphasizing corrosion-resistant designs.
- Paper and pulp applications anticipate a CAGR of 3.8%-5.8%, with trends toward biomass-compatible boilers for sustainable production.
- Oil and gas applications are expected to grow at a CAGR of 4.0%-6.0%, driven by refining processes, focusing on high-capacity systems.
- Power generation applications anticipate a CAGR of 4.2%-6.2%, with trends toward renewable fuel integration.
- Other applications, like textiles, are projected to grow at a CAGR of 3.5%-5.5%, emphasizing cost-effective, reliable boilers.
Key Market Players
General Electric, headquartered in Boston, USA, develops industrial boilers for power generation, focusing on energy-efficient and low-emission technologies.Mitsubishi Hitachi Power Systems, based in Yokohama, Japan, produces boilers for power and chemical industries, emphasizing high-capacity systems.
Bosch, located in Gerlingen, Germany, supplies boilers for food processing and industrial applications, focusing on sustainable designs.
Sumitomo Heavy Industries, headquartered in Tokyo, Japan, manufactures boilers for chemical and power sectors, emphasizing durability.
CMI Group, based in Seraing, Belgium, develops boilers for industrial processes, focusing on customized solutions.
Byworth Boilers, located in Keighley, UK, produces boilers for food and paper industries, emphasizing compact designs.
EVOLV INDUSTRIAL, based in the USA, supplies boilers for chemical applications, focusing on scalability.
Cochran, headquartered in Annan, UK, develops boilers for industrial use, emphasizing reliability.
ZG Boiler, located in Zhengzhou, China, manufactures boilers for power generation, focusing on cost-effectiveness.
Hebei Xinhuaxin Boiler Manufacturing, based in Hebei, China, produces boilers for industrial applications, emphasizing large-scale production.
Porter’s Five Forces Analysis
- Threat of New Entrants: Low; high capital costs and regulatory barriers limit entry.
- Bargaining Power of Suppliers: Moderate; specialized materials like high-grade steel increase supplier influence.
- Bargaining Power of Buyers: Moderate; large industrial buyers negotiate, but customized boilers limit leverage.
- Threat of Substitutes: Low; alternative heating systems are less efficient for industrial-scale applications.
- Competitive Rivalry: Moderate; players differentiate through energy efficiency and sustainability.
Market Opportunities and Challenges
Opportunities
- Growth in renewable fuel adoption creates demand for biomass-compatible boilers.
- Industrial expansion in Asia Pacific offers opportunities for cost-effective systems.
- Stringent environmental regulations drive demand for low-emission boilers.
Challenges
- High installation costs limit adoption in smaller markets.
- Complex maintenance requirements increase operational costs.
- Fluctuating fuel prices impact boiler economics.
Growth Trend Analysis
The Industrial Boiler market is experiencing steady growth. On August 22, 2024, Thermogenics acquired High Desert Mechanical, expanding its boiler service capabilities in the U.S. On September 30, 2024, Boccard acquired Leroux Lotz Technologies, creating a European leader in renewable thermal energy. On March 31, 2025, The Environmental Group acquired Advanced Boilers & Combustion for $5.5 million, enhancing its manufacturing capabilities. On June 5, 2025, ANDRITZ acquired Diamond Power International’s businesses, strengthening its boiler portfolio. These developments align with a projected CAGR of 4.0%-6.0% through 2030.This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Trading Analysis
Chapter 9 Historical and Forecast Industrial Boiler Market in North America (2020-2030)
Chapter 10 Historical and Forecast Industrial Boiler Market in South America (2020-2030)
Chapter 11 Historical and Forecast Industrial Boiler Market in Asia & Pacific (2020-2030)
Chapter 12 Historical and Forecast Industrial Boiler Market in Europe (2020-2030)
Chapter 13 Historical and Forecast Industrial Boiler Market in MEA (2020-2030)
Chapter 14 Summary For Global Industrial Boiler Market (2020-2025)
Chapter 15 Global Industrial Boiler Market Forecast (2025-2030)
Chapter 16 Analysis of Global Key Vendors
Tables and Figures
Companies Mentioned
- General Electric
- Mitsubishi Hitachi Power Systems
- Bosch
- Sumitomo Heavy Industries
- CMI Group
- Byworth Boilers
- EVOLV INDUSTRIAL
- Cochran
- ZG Boiler
- Hebei Xinhuaxin Boiler Manufacturing
