Water Tube Industrial Boiler Market Report 2026

The water tube industrial boiler market size has grown strongly in recent years. It will grow from $8.75 billion in 2025 to $9.29 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industrial expansion in power generation, growth of chemical processing plants, pulp and paper industry demand, metals and mining operations, coal based power infrastructure.

The water tube industrial boiler market size is expected to see strong growth in the next few years. It will grow to $11.65 billion in 2030 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to shift toward cleaner fuel boilers, industrial energy efficiency mandates, expansion of biomass power projects, modernization of aging boiler infrastructure, adoption of digital boiler controls. Major trends in the forecast period include rising demand for high pressure steam boilers, increasing adoption of biomass and chp boilers, expansion of industrial steam generation capacity, growing focus on boiler energy efficiency, integration of smart monitoring systems.

The rising demand for energy-efficient solutions is expected to drive the growth of the water tube industrial boiler market moving forward. Energy-efficient solutions involve technologies, practices, or products that consume less energy to achieve the same function, thereby lowering energy use and reducing environmental impact. This growing demand is fueled by increasing energy costs, which encourage consumers and businesses to minimize consumption and reduce utility expenses. Water tube industrial boilers support energy efficiency by providing high-pressure steam generation, making them well-suited for large-scale industrial applications. They improve process efficiency through rapid steam production, lower fuel consumption, and decreased operational costs. For example, in September 2024, ElectricHomes, a UK-based electric heating provider, reported that the UK installed 36,799 air source heat pumps and 2,469 ground or water source heat pumps in 2023, bringing the total number of MCS-certified installations to 229,618 - a 20% increase compared to 2022. Thus, the increasing demand for energy-efficient solutions is propelling growth in the water tube industrial boiler market.

Leading companies in the water tube industrial boiler market are developing innovative products like pressurized casing heat exchangers to boost thermal efficiency and reduce energy consumption. Pressurized casing heat exchangers are specialized devices designed to efficiently transfer heat under high-pressure conditions within industrial boiler systems. For instance, in January 2023, Babcock Wanson, a UK-based industrial boiler manufacturer, introduced the FM Pack water tube boilers, engineered for industrial environments requiring high-quality steam output, high pressure, and operational flexibility. These boilers offer steam capacities ranging from 4.5 to 80 tonnes per hour and are designed for high-pressure operation up to 95 barg. They feature a pressurized casing heat exchanger design that maintains elevated flue gas temperatures, preventing condensation and corrosion, thereby enhancing both durability and efficiency.

In May 2024, Miura Co. Ltd., a Japan-based industrial boiler manufacturer, acquired Cleaver-Brooks Inc. for an undisclosed sum. Through this acquisition, Miura aims to strengthen its presence in North America, expand its product portfolio, boost innovation, and accelerate the delivery of sustainable and energy-efficient boiler solutions globally. Cleaver-Brooks Inc. is a US-based company that produces a comprehensive range of industrial water-tube boilers.

Major companies operating in the water tube industrial boiler market are The Babcock & Wilcox Company, Kawasaki Thermal Engineering Co., Ltd., Mitsubishi Power, Ltd., Doosan Enerbility Co., Ltd., Thermax Limited, Larsen & Toubro Limited (Heavy Engineering - Boilers & Steam Generators), ISGEC Heavy Engineering Ltd., Cheema Boilers Limited, Forbes Marshall Pvt. Ltd., Hurst Boiler & Welding Company, Inc., Victory Energy Operations, LLC, Unilux Advanced Manufacturing, LLC, Rentech Boiler Systems, Inc., Zozen Boiler Co., Ltd., Harbin Electric International Company Limited, Dongfang Electric Corporation, Bharat Heavy Electricals Limited (BHEL), John Cockerill Energy, Mitsubishi Heavy Industries, Ltd., Siemens Energy AG, Valmet Oyj, Thermax Babcock & Wilcox Energy Solutions Pvt. Ltd.

North America was the largest region in the water tube industrial boiler market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water tube industrial boiler market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water tube industrial boiler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The water tube industrial boiler market consists of sales of boiler components and accessories, boiler controls and safety devices, boiler feedwater treatment systems, steam generation and distribution equipment, and steam turbines. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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