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The global steam boiler systems market plays a crucial role in industrial operations across multiple sectors, including power generation, manufacturing, chemical processing, and food and beverage production. Steam boilers are essential equipment that generates steam by heating water, which is then used for various heating, processing, and power applications. This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
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The market has witnessed steady growth over recent years, driven primarily by industrialization, urbanization, and the rising demand for reliable energy sources worldwide. As industries strive to improve operational efficiency and comply with stringent environmental regulations, the adoption of advanced and energy-efficient steam boiler systems has increased significantly.
These systems not only provide a consistent and high-quality steam supply but also contribute to reducing carbon emissions and lowering fuel consumption through innovative technologies such as economizers, variable speed drives, and automation controls. One of the primary factors propelling the steam boiler systems market is the expanding industrial base in emerging economies, particularly in the Asia-Pacific region. Rapid growth in sectors such as manufacturing, textiles, chemicals, and power plants has fueled the demand for steam boilers capable of operating under varying pressure and temperature conditions.
Additionally, the food and beverage industry’s increasing reliance on steam for processes such as sterilization, cooking, and drying has further strengthened the market outlook. Moreover, advancements in boiler technology, including the integration of IoT and smart monitoring systems, have enhanced the reliability and safety of steam boilers, enabling predictive maintenance and reducing downtime. This integration of digital technology helps operators optimize fuel use and monitor system performance in real-time, thereby improving overall efficiency.
According to the research report “Global Steam Boiler System Market Outlook, 2030” the global market is projected to reach market size of USD 25.30 Billion by 2030 increasing from USD 18.56 Billion in 2024, growing with 5.41% CAGR by 2025-30. In terms of market segmentation, the steam boiler systems market comprises different types such as fire-tube boilers, water-tube boilers, electric boilers, and waste heat recovery boilers. Each type serves specific industrial needs based on pressure capacity, fuel source, and application requirements. Fire-tube boilers, known for their simple design and ease of maintenance, are widely used in small to medium industrial operations.
Water-tube boilers, on the other hand, are preferred for high-pressure applications due to their efficiency and ability to generate steam quickly. Electric boilers have gained popularity in regions with strict emission regulations, offering clean energy solutions, although they are limited by electricity costs and availability. Waste heat recovery boilers present an innovative approach to energy conservation by utilizing heat from industrial exhaust gases, thereby enhancing overall energy efficiency and reducing fuel consumption. Geographically, the Asia-Pacific region leads the steam boiler systems market, driven by rapid industrialization, infrastructural development, and increasing investments in energy-intensive industries.
Countries like China, India, and Japan are significant contributors to market growth due to their large manufacturing bases and government initiatives supporting energy efficiency. North America and Europe also hold substantial market shares, with a strong focus on upgrading existing boiler infrastructure to meet environmental regulations and energy efficiency goals. These regions are witnessing increased adoption of smart and automated boiler systems that enable remote monitoring and operational optimization.
Market Drivers
- Industrial Expansion and Urbanization in Emerging Economies: Rapid industrialization and urban growth in regions such as Asia-Pacific are driving demand for steam boiler systems. Expanding manufacturing, power generation, and processing industries require efficient and reliable steam generation solutions to support their operations. This growth fuels investments in new boiler installations and upgrades to existing systems, boosting market demand.
- Increasing Focus on Energy Efficiency and Emission Reduction: Stricter environmental regulations worldwide are pushing industries to adopt energy-efficient steam boiler systems that reduce fuel consumption and lower greenhouse gas emissions. Innovations such as waste heat recovery boilers, automated controls, and the use of cleaner fuels are becoming key factors driving market growth as companies seek to comply with sustainability standards.
Market Challenges
- High Initial Capital Investment and Maintenance Costs: Steam boiler systems often require significant upfront investment, which can be a barrier, especially for small and medium enterprises. Additionally, maintenance and operational costs can be substantial due to the complexity of boiler systems, requiring skilled labor and regular servicing to ensure safety and efficiency.
- Competition from Renewable and Alternative Energy Sources: The growing adoption of renewable energy technologies like solar, wind, and biomass, as well as the shift toward electric boilers in some regions, poses a challenge to traditional fossil-fuel-based steam boiler systems. This competition pressures manufacturers to innovate and adapt their products to maintain market relevance.
Market Trends
- Integration of Digital Technologies and IoT for Smart Boiler Systems: The steam boiler industry is witnessing a significant trend toward the integration of IoT, sensors, and advanced analytics, enabling real-time monitoring, predictive maintenance, and automated control. These smart boiler systems improve operational efficiency, reduce downtime, and enhance safety, aligning with Industry 4.0 practices.
- Adoption of Waste Heat Recovery and Biomass-Fueled Boilers: To address energy conservation and environmental concerns, the market is increasingly adopting waste heat recovery boilers and biomass-fueled steam boilers. These technologies enable industries to utilize residual heat and renewable fuels, improving overall energy efficiency and reducing carbon footprints, making them a vital part of the industry’s sustainable future.
Power generation facilities, especially thermal power plants that rely on coal, natural gas, or biomass, require high-capacity and highly efficient steam boiler systems to produce the steam necessary to turn turbines and produce electricity continuously. The demand for electricity is constantly growing worldwide due to urbanization, industrialization, and expanding infrastructure, which directly fuels the need for robust steam generation systems. Steam boilers in power plants must operate under stringent performance and safety standards, ensuring consistent steam supply at high pressures and temperatures to maximize turbine efficiency and minimize downtime.
Moreover, many power plants are upgrading or retrofitting their existing boilers to improve fuel efficiency and reduce emissions, which further boosts the demand for advanced steam boiler technologies. This combination of large-scale energy demand, regulatory pressure for cleaner power generation, and the essential role of steam boilers in electricity production firmly establishes power generation as the leading segment in the steam boiler systems market.
The main reason gas-fired steam boilers are leading the steam boiler systems market is their superior efficiency combined with lower emissions compared to traditional fossil fuels, making them an environmentally friendly and cost-effective choice for industries worldwide.
Gas-fired boilers utilize natural gas, which burns cleaner than coal or oil, producing significantly lower levels of harmful pollutants such as sulfur dioxide (SO₂), nitrogen oxides (NOₓ), and particulate matter. This cleaner combustion profile helps industries meet increasingly stringent environmental regulations while reducing their carbon footprint. Additionally, gas-fired boilers offer faster start-up times and greater operational flexibility, allowing facilities to adjust steam production quickly in response to fluctuating demand. The availability and relative affordability of natural gas in many regions also contribute to its growing preference.
Technological advancements have further enhanced the efficiency of gas-fired boilers, enabling higher thermal performance and fuel savings, which translates to lower operating costs. Together, these factors make gas-fired steam boilers the preferred option across power generation, manufacturing, chemical processing, and other industries seeking a balance between economic viability and environmental responsibility.
The main reason water-tube boilers are leading the steam boiler systems market is their superior ability to handle high pressure and high-capacity steam generation, making them ideal for large-scale industrial and power generation applications.
Water-tube boilers are designed with water flowing inside the tubes and hot gases circulating around them, allowing for rapid steam production and the capability to operate safely at very high pressures and temperatures. This design makes them highly efficient and suitable for demanding environments such as power plants, chemical manufacturing, and heavy industries where continuous, large-volume steam supply is critical. Unlike fire-tube boilers, water-tube boilers can be scaled up more easily to meet increasing steam demand without compromising safety or performance. They also feature quicker response times to load changes and better heat transfer rates, enhancing overall operational efficiency.
Additionally, water-tube boilers generally have a smaller footprint relative to their steam output capacity, making them more adaptable to space-constrained facilities. Their robustness, efficiency, and flexibility have led industries worldwide to favor water-tube boilers over other types, solidifying their leadership position in the steam boiler systems market.
The main reason APAC is leading the steam boiler systems market is due to its rapid industrialization, expanding manufacturing base, and increasing energy demand driven by emerging economies like China and India.
The Asia-Pacific region has become the focal point for industrial growth, infrastructure development, and urbanization, which has significantly boosted the demand for steam boiler systems. Countries such as China, India, South Korea, and Indonesia are witnessing large-scale investments in sectors including power generation, chemical processing, textiles, and food and beverage manufacturing, all of which heavily rely on efficient steam boilers for their operations. The growing industrial output requires reliable and high-capacity steam generation to sustain production processes and meet energy requirements.
Additionally, governments across APAC are implementing stringent environmental regulations and promoting energy efficiency, which encourages the adoption of advanced and cleaner steam boiler technologies, including gas-fired and waste heat recovery boilers. Furthermore, the availability of relatively lower manufacturing costs, skilled labor, and increasing focus on infrastructure modernization contribute to the region’s dominance in the steam boiler market. These combined factors ensure that APAC continues to lead the global steam boiler systems market, both in terms of demand volume and technological advancement.
- In 2024, ALFA LAVAL reported USD 6.3 billion in net sales and USD 7.1 billion in order intake, increasing by 7% due to strong demand. The company has also reported a net income of USD 705.6 million, which represents an increase of 16.5% year over year, which highlights greater profit margin, operational efficiency, and business performance.
- In the nine months of 2024, Thermax reported revenue of USD 860.9 million across its business segments which include Infrastructure, Chemicals, Industrial Products and Green Solutions. Their Industrial Products Division alone with its vast portfolio garnered revenue of USD 355.1 million which contributed to the overall positive results of the company.
- In the year 2024, GE Vernova’s revenue stood at USD 34.9 billion which is an increase of 5.1% as compared to the previous year. The company also experienced an increase in gross profit, which rose by 27.1%, yielding USD 6.1 billion. This appreciation indicates higher operational efficiency and better strategical intent.
Considered in this report
- Historic Year: 2019
- Base year: 2024
- Estimated year: 2025
- Forecast year: 2030
Aspects covered in this report
- Steam Boiler Systems Market with its value and forecast along with its segments
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Fuel Type
- Coal-Fired
- Oil-Fired
- Gas-Fired
- Biomass-Fired
- Electric
- Others(Hydrogen-Fired,Hybrid)
By Boiler Type
- Fire-Tube Boilers
- Water-Tube Boilers
- Electric Boilers
By Horsepower
- 10-150 BHP
- 151-300 BHP
- 301-600 BHP
- Above 600 BHP
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases.After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to this industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.Table of Contents
1. Executive Summary5. Economic /Demographic Snapshot13. Strategic Recommendations15. Disclaimer
2. Market Dynamics
3. Research Methodology
4. Market Structure
6. Global Steam Boiler System Market Outlook
7. North America Steam Boiler System Market Outlook
8. Europe Steam Boiler System Market Outlook
9. Asia-Pacific Steam Boiler System Market Outlook
10. South America Steam Boiler System Market Outlook
11. Middle East & Africa Steam Boiler System Market Outlook
12. Competitive Landscape
14. Annexure
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Babcock & Wilcox Enterprises, Inc.
- Thermax Ltd
- Forbes Marshall Pvt. Ltd.
- Mitsubishi Heavy Industries, Ltd.
- ATTSU Industrial Group
- Miura Boiler Co., Ltd.
- Thermodyne Engineering System
- Parker Boiler Co
- Thermon Group Holdings, Inc.
- Reimers Electra Steam, Inc.
- Diversified Heat Transfer, Inc.
- Hurst Boiler & Welding Co Inc
- Rentech Boiler System Inc
- Indeck Power Equipment Company
- Robert Bosch Stiftung GmbH
- Byworth Boilers Limited
- Cochran Group Ltd
- Thermona, spol. s r.o
- ISGEC Heavy Engineering Ltd.
- Shanghai Electric Group Company Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 198 |
| Published | June 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 18.56 Billion |
| Forecasted Market Value ( USD | $ 25.3 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
