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Industrial Boiler Market Size, Share & Trends Analysis Report By Application (Chemicals & Petrochemicals, Paper & Pulp, Food & Beverage, Metals & Minings), By Fuel (Oil & Gas, Fossil, Biomass), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 120 Pages
  • October 2023
  • Region: Global
  • Grand View Research
  • ID: 5899604
Description Jump to:
The global industrial boiler market size is expected to reach USD 20.7 billion by 2030, registering a CAGR of 4.8% during the forecast period. Rapid industrialization in developing economies is expected to boost the demand for the industry during the forecast period. In addition, the growing food and beverage industry is expected to positively impact product demand over the coming years.

Boilers are vessels that produce steam to fulfill heating requirements with the support of numerous energy sources including oil and gas, fossils, non-fossils, and biomass. These vessels are used by numerous industries including food and beverage, power, textiles, FMCG, and thermal power plants. Chemicals and petrochemical is the largest industry to use industrial boilers.

Growing industrialization including the expansion of existing plants and the establishment of new manufacturing plants are likely to drive the market over the forecast period. Growing population coupled with increasing disposable income is likely to boost the growth of the food and beverage industry. As a result, there is a constant expansion of manufacturing plants across the globe, which, in turn, will boost product demand, especially in developed economies.

One of the key challenges faced by the industry is the emission of harmful gases into the environment. However, strict regulations implemented by numerous regulatory bodies have driven manufacturers to modify their products accordingly. The modified products not only comply with the regulations but are also energy efficient. These changes are expected to further boost the adoption of these products, thus, driving the market.

Industrial Boiler Market Report Highlights

  • The market is anticipated to witness significant growth over the forecast period on account of factors such as rising industrialization and growing industrial boilers utilizing industries including food and beverage, textile, power, and FMCG
  • In 2022, the chemicals and petrochemicals application segment dominated the market, owing to the rising demand for petrochemical intermediate products
  • Asia Pacific held the largest revenue share in 2022 and is anticipated to register significant growth over the forecast period owing to growing numerous industries including food and beverage and petrochemical
  • In India, the market is expected to grow fast during the forecast period. Rapid industrialization in the country has resulted in growing investments in numerous sectors including automotive, agribusiness, oil and gas, and renewable energy.


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Application
1.1.2. Fuel
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Application outlook
2.2.2. Fuel outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Industrial Boilers Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Industrial Boilers Market Analysis Tools
3.6.1. Industry analysis - Porter’s
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Environmental landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Industrial Boilers: Application Estimates & Trend Analysis
5.1. Industrial Boilers Market: Key Takeaways
5.2. Industrial Boilers Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Chemicals & Petrochemicals
5.3.1. Chemicals & petrochemicals market estimates and forecasts, 2018 to 2030 (USD Billion)
5.4. Paper & Pulp
5.4.1. Paper & pulp market estimates and forecasts, 2018 to 2030 (USD Billion)
5.5. Food & Beverages
5.5.1. Food & beverages market estimates and forecasts, 2018 to 2030 (USD Billion)
5.6. Metals & Mining
5.6.1. Metals & mining market estimates and forecasts, 2018 to 2030 (USD Billion)
5.7. Others
5.7.1. Others market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 6. Industrial Boilers: Fuel Estimates & Trend Analysis
6.1. Industrial Boilers Market: Key Takeaways
6.2. Industrial Boilers Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Oil & Gas
6.3.1. Oil & gas market estimates and forecasts, 2018 to 2030 (USD Billion)
6.4. Fossil
6.4.1. Fossil market estimates and forecasts, 2018 to 2030 (USD Billion)
6.5. Non-Fossil
6.5.1. Non-Fossil market estimates and forecasts, 2018 to 2030 (USD Billion)
6.6. Biomass
6.6.1. Biomass market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 7. Industrial Boilers Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Industrial Boilers Market by Region: Key Takeaways
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4. Europe
7.4.1. Germany
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4.2. UK
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4.4. Italy
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4.5. Russia
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.4.6. Spain
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5. Asia Pacific
7.5.1. China
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.2. India
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.3. Japan
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.4. South Korea
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.5. Australia
7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.6. Thailand
7.5.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.7. Indonesia
7.5.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.5.8. Malaysia
7.5.8.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.6. Central & South America (CSA)
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.6.2. Argentina
7.6.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.7.2. UAE
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
7.7.3. South Africa
7.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Billion)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Thermax Ltd.
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Siemens AG
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. Bharat Heavy Electricals Ltd.
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Forbes Marshall
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Babcock & Wilcox Enterprises, Inc.
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. Mitsubishi Heavy Industries, Ltd.
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. Harbin Electric Corporation
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Cheema Boilers Limited
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. IHI Corporation
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives
8.2.10. AC Boilers
8.2.10.1. Company overview
8.2.10.2. Financial performance
8.2.10.3. Product benchmarking
8.2.10.4. Strategic initiatives
8.2.11. Dongfang Electric Corporation Ltd.
8.2.11.1. Company overview
8.2.11.2. Financial performance
8.2.11.3. Product benchmarking
8.2.11.4. Strategic initiatives
List of Tables
Table 1 List of abbreviations
Table 2 North America industrial boilers market, by application, 2018-2030 (USD Billion)
Table 3 North America industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 4 North America industrial boilers market, by region, 2018-2030 (USD Billion)
Table 5 U.S. industrial boilers market, by application, 2018-2030 (USD Billion)
Table 6 U.S. industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 7 Canada industrial boilers market, by application, 2018-2030 (USD Billion)
Table 8 Canada industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 9 Mexico industrial boilers market, by application, 2018-2030 (USD Billion)
Table 10 Mexico industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 11 Europe industrial boilers market, by application, 2018-2030 (USD Billion)
Table 12 Europe industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 13 Europe industrial boilers market, by region, 2018-2030 (USD Billion)
Table 14 Germany industrial boilers market, by application, 2018-2030 (USD Billion)
Table 15 Germany industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 16 UK industrial boilers market, by application, 2018-2030 (USD Billion)
Table 17 UK industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 18 France industrial boilers market, by application, 2018-2030 (USD Billion)
Table 19 France industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 20 Italy industrial boilers market, by application, 2018-2030 (USD Billion)
Table 21 Italy industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 22 Russia industrial boilers market, by application, 2018-2030 (USD Billion)
Table 23 Russia industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 24 Spain industrial boilers market, by application, 2018-2030 (USD Billion)
Table 25 Spain industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 26 Asia Pacific industrial boilers market, by application, 2018-2030 (USD Billion)
Table 27 Asia Pacific industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 28 Asia Pacific industrial boilers market, by region, 2018-2030 (USD Billion)
Table 29 China industrial boilers market, by application, 2018-2030 (USD Billion)
Table 30 China industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 31 India industrial boilers market, by application, 2018-2030 (USD Billion)
Table 32 India industrial boilers market, by fuel, (USD Billion) 2018 - 2030
Table 33 Japan industrial boilers market, by application, 2018-2030 (USD Billion)
Table 34 Japan industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 35 South Korea industrial boilers market, by application, 2018-2030 (USD Billion)
Table 36 South Korea industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 37 Australia industrial boilers market, by application, (USD Billion) 2018 - 2030
Table 38 Australia industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 39 Thailand industrial boilers market, by application, 2018-2030 (USD Billion)
Table 40 Thailand industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 41 Indonesia industrial boilers market, by application, 2018-2030 (USD Billion)
Table 42 Indonesia industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 43 Malaysia industrial boilers market, by application, 2018-2030 (USD Billion)
Table 44 Malaysia industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 45 Central & South America industrial boilers market, by application, 2018-2030 (USD Billion)
Table 46 Central & South America industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 47 Central & South America industrial boilers market, by region, 2018-2030 (USD Billion)
Table 48 Brazil industrial boilers market, by application, 2018-2030 (USD Billion)
Table 49 Brazil industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 50 Argentina industrial boilers market, by application, 2018-2030 (USD Billion)
Table 51 Argentina industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 52 Middle East and Africa industrial boilers market, by application, 2018-2030 (USD Billion)
Table 53 Middle East and Africa industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 54 Middle East and Africa industrial boilers market, by region, 2018-2030 (USD Billion)
Table 55 Saudi Arabia industrial boilers market, by application, 2018-2030 (USD Billion)
Table 56 Saudi Arabia industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 57 UAE industrial boilers market, by application, 2018-2030 (USD Billion)
Table 58 UAE industrial boilers market, by fuel, 2018-2030 (USD Billion)
Table 59 South Africa industrial boilers market, by application, 2018-2030 (USD Billion)
Table 60 South Africa industrial boilers market, by fuel, 2018-2030 (USD Billion)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Industrial boilers: Market outlook
Fig. 9 Industrial boilers: Competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Industry value chain analysis
Fig. 14 Industrial boilers market driver impact
Fig. 15 Industrial boilers market restraint impact
Fig. 16 Industrial boilers market strategic initiatives analysis
Fig. 17 Industrial boilers market: Application movement analysis
Fig. 18 Industrial boilers market: Application outlook and key takeaways
Fig. 19 Chemicals & petrochemicals market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 20 Paper & pulp market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 21 Food & beverages market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 22 Metals & mining market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 23 Others market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 24 Industrial boilers market: Fuel movement analysis
Fig. 25 Industrial boilers market: Fuel outlook and key takeaways
Fig. 26 Oil & gas market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 27 Fossil market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 28 Non-fossil market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 29 Biomass market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 30 Global industrial boilers market: Regional movement analysis
Fig. 31 Global industrial boilers market: Regional outlook and key takeaways
Fig. 32 North America market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 33 U.S. market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 34 Canada market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 35 Mexico market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 36 Europe market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 37 Germany market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 38 UK market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 39 France market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 40 Italy market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 41 Russia market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 42 Spain market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 43 Asia Pacific market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 44 China market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 45 India market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 46 Japan market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 47 South Korea market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 48 Australia market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 49 Thailand market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 50 Indonesia market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 51 Malaysia market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 52 Central & South America market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 53 Brazil market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 54 Argentina market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 55 Middle East and Africa market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 56 Saudi Arabia market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 57 UAE market estimates and forecasts, 2018-2030 (USD Billion)
Fig. 58 South Africa market estimates and forecasts, 2018-2030 (USD Billion)

Companies Mentioned

  • Thermax Ltd.
  • Siemens AG
  • Bharat Heavy Electricals Ltd.
  • Forbes Marshall
  • Babcock & Wilcox Enterprises, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • Harbin Electric Corporation
  • Cheema Boilers Limited
  • IHI Corporation
  • AC Boilers
  • Dongfang Electric Corporation Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages120
PublishedOctober 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 14.2 Billion
Forecasted Market Value ( USD ) by 2030 $ 20.7 Billion
Compound Annual Growth Rate4.8%
Regions CoveredGlobal
No. of Companies Mentioned11

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