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Industrial Boilers - Company Evaluation Report, 2025- Product Image
Industrial Boilers - Company Evaluation Report, 2025- Product Image
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Industrial Boilers - Company Evaluation Report, 2025

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  • 101 Pages
  • July 2025
  • Region: Global
  • Markets and Markets
  • ID: 6109700
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The Industrial Boilers Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Industrial Boilers. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. This 360 Quadrants evaluated over 100 companies, of which the Top 15 Industrial Boilers Companies were categorized and recognized as quadrant leaders.

Industrial boilers are sealed vessels engineered to produce steam or hot water by heating water or other fluids using a variety of fuel sources, including natural gas, coal, biomass, oil, and nuclear energy. These systems are essential in numerous industries for power generation, manufacturing, chemical processing, food production, and heating. The industrial boiler market is expanding due to rising global energy needs, growing industrial activity, and increasingly stringent environmental regulations that encourage the adoption of efficient, low-emission boiler technologies. Technological advancements such as improved combustion systems and the shift toward cleaner fuel options are fueling market growth. Furthermore, the move toward renewable energy - such as biomass and waste heat recovery solutions - is transforming the industrial boiler landscape.

An industrial boiler is a pressurized vessel used to heat water or other fluids to create steam or vapor for diverse applications. These include electricity generation, industrial process heating, centralized heating, and various functions across sectors such as manufacturing, food processing, chemical production, and energy. Industrial boilers ensure effective thermal energy transfer and come in several designs, including fire-tube and water-tube models, powered by fuels like natural gas, coal, biomass, and nuclear sources. With growing focus on energy conservation, emission control, and environmental sustainability, modern industrial boilers are increasingly integrating advanced combustion technologies and eco-friendly fuel options, cementing their role across both commercial and industrial domains.

The 360 Quadrant maps the Industrial Boilers companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Industrial Boilers quadrant. The top criteria for product footprint evaluation included By FUEL TYPE (Natural Gas, Coal, Oil, Others), By BOILER TYPE (Fire-Tube, Water-Tube, Others), By FUNCTION (Hot Water, Steam), By BOILER HORSEPOWER (Introduction 9.2-150 Bhp), and By END-USE INDUSTRY (Chemicals & Petrochemicals, Food, Pulp & Paper, Metals & Mining, Power Generation, Others).

Key Players

Key players in the Industrial Boilers market include major global corporations and specialized innovators such as Babcock & Wilcox Enterprises, Inc., Siemens Ag, John Wood Plc, Dongfang Electric Corporation Limited, Robert Bosch Gmbh, Mitsubishi Power, Thermax Limited, Sofinter Group, Bharat Heavy Electricals Limited, Cleaver-Brooks, Inc., Byworth Boilers Ltd., Andritz Ag, Harbin Electric Company Limited, Alfa Laval Ab, and Ihi Corporation. These companies are actively investing in research and development, forming strategic partnerships, and engaging in collaborative initiatives to drive innovation, expand their global footprint, and maintain a competitive edge in this rapidly evolving market.

Top 3 Companies

Babcock & Wilcox Enterprises, Inc.

Babcock & Wilcox Enterprises focus on environmental and thermal technologies, with over 155 years of industry presence. The company operates three segments: B&W Renewable, B&W Environmental, and B&W Thermal. Their offerings include industrial boilers under the B&W Thermal segment, delivering diverse solutions like package boilers and waste heat boilers. B&W's global footprint spans manufacturing facilities across Europe, North America, and Asia Pacific, making it a key player in delivering energy and emissions control solutions.

Siemens AG

Siemens AG stands out as a leading industrial manufacturing company with a global presence. Specializing in automation, digitalization, and intelligent infrastructure, Siemens delivers extensive services across the industrial landscape. Its industrial boiler products fall under the smart infrastructure segment. With operations in over 200 countries, Siemens leverages its diverse business segments to support energy system decarbonization, reflected in its robust product portfolio and strategic acquisitions.

Mitsubishi Heavy Industries Ltd.

A Japanese multinational, Mitsubishi Heavy Industries provides comprehensive power solutions through its brand Mitsubishi Power. The company’s offerings range from steam power plants to chemical recovery boilers. With a strong focus on innovation and sustainability, MHI operates extensively across continents, crafting solutions that cater to both industrial and environmental needs, underscoring its dominance in the global market.

Table of Contents

1 Introduction
1.1 Market Definition
1.2 Inclusions and Exclusions
1.3 Stakeholders
2 Executive Summary
3 Market Overview
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Government Policies to Increase Requirement for Industrial Boilers
3.2.1.2 Rising Demand for Electricity
3.2.1.3 High Demand from Major End-Use Industries
3.2.2 Restraints
3.2.2.1 High Initial Investment and Operating Cost
3.2.3 Opportunities
3.2.3.1 Adoption of Biomass Boilers to Achieve Low-Carbon-Emissions Targets
3.2.3.2 Replacement of Aging Boilers and Adoption of Supercritical and Ultra-Supercritical Boilers
3.2.3.3 Increasing Demand for Compact Designs and Lean Operations
3.2.4 Challenges
3.2.4.1 Stringent Regulations and Emissions Control
3.2.4.2 Increasing Energy Prices
3.3 Patent Analysis
3.3.1 Methodology
3.3.2 Patents Granted Worldwide, 2015-2024
3.3.3 Patent Publication Trends
3.3.4 Insights
3.3.5 Legal Status of Patents
3.3.6 Jurisdiction-Wise Patent Analysis
3.3.7 Top Companies/Applicants
3.3.8 Top 10 Patent Owners in Last 10 Years
3.4 Ecosystem Mapping
3.5 Value Chain Analysis
3.5.1 Raw Material Suppliers
3.5.2 Manufacturers
3.5.3 Distributors
3.5.4 End-users
3.6 Technology Analysis
3.6.1 Low Nox Boilers
3.6.2 Ai-Integrated Boilers
3.6.3 Low Mass Boilers
3.6.4 Carbon Neutral Boilers
3.6.5 Hybrid Boiler Systems
3.7 Porter's Five Forces Analysis
3.7.1 Threat of Substitutes
3.7.2 Bargaining Power of Suppliers
3.7.3 Threat of New Entrants
3.7.4 Bargaining Power of Buyers
3.7.5 Intensity of Competitive Rivalry
3.8 Trends and Disruptions Impacting Customers’ Businesses
3.9 Key Conferences and Events, 2025
3.10 Impact of Ai/Gen Ai
4 Competitive Landscape
4.1 Overview
4.2 Ranking Analysis of Key Market Players, 2023
4.3 Market Share Analysis
4.4 Revenue Analysis, 2021-2023
4.5 Market Evaluation Matrix
4.6 Company Evaluation Matrix: Key Players, 2023
4.6.1 Stars
4.6.2 Emerging Leaders
4.6.3 Pervasive Players
4.6.4 Participants
4.7 Company Evaluation Matrix: Start-Ups and Small and Medium-Sized Enterprises (Smes), 2023
4.7.1 Responsive Companies
4.7.2 Starting Blocks
4.7.3 Progressive Companies
4.7.4 Dynamic Companies
4.7.5 Company Footprint: Key Players, 2023
4.7.5.1 Company End-Use Industry Footprint
4.7.5.2 Company Region Footprint
4.8 Strength of Product Portfolio
4.9 Business Strategy Excellence
4.10 Competitive Scenario
4.10.1 Product Launches
4.10.2 Deals
4.10.3 Other Developments
5 Company Profiles
5.1 Major Players
5.1.1 Babcock & Wilcox Enterprises, Inc.
5.1.1.1 Business Overview
5.1.1.2 Products/Solutions/Services Offered
5.1.1.3 Recent Developments
5.1.1.3.1 Deals
5.1.1.4 Analyst's View
5.1.1.4.1 Key Strengths
5.1.1.4.2 Strategic Choices
5.1.1.4.3 Weaknesses and Competitive Threats
5.1.2 Siemens
5.1.2.1 Business Overview
5.1.2.2 Products/Solutions/Services Offered
5.1.2.3 Recent Developments
5.1.2.3.1 Deals
5.1.2.4 Analyst's View
5.1.2.4.1 Key Strengths
5.1.2.4.2 Strategic Choices
5.1.2.4.3 Weaknesses and Competitive Threats
5.1.3 Wood
5.1.3.1 Business Overview
5.1.3.2 Products/Solutions/Services Offered
5.1.3.3 Recent Developments
5.1.3.3.1 Deals
5.1.3.3.2 Expansions
5.1.3.4 Analyst's View
5.1.3.4.1 Key Strengths
5.1.3.4.2 Strategic Choices
5.1.3.4.3 Weaknesses and Competitive Threats
5.1.4 Dongfang Electric Corporation Limited (Dec Ltd.)
5.1.4.1 Business Overview
5.1.4.2 Products/Solutions/Services Offered
5.1.4.3 Recent Developments
5.1.4.3.1 Deals
5.1.4.4 Analyst's View
5.1.4.4.1 Key Strengths
5.1.4.4.2 Strategic Choices
5.1.4.4.3 Weaknesses and Competitive Threats
5.1.5 Robert Bosch GmbH
5.1.5.1 Business Overview
5.1.5.2 Products/Solutions/Services Offered
5.1.5.3 Recent Developments
5.1.5.3.1 Product Launches
5.1.5.4 Analyst's View
5.1.5.4.1 Key Strengths
5.1.5.4.2 Strategic Choices
5.1.5.4.3 Weakness and Competitive Threats
5.1.6 Mitsubishi Heavy Industries Ltd.
5.1.6.1 Business Overview
5.1.6.2 Products/Solutions/Services Offered
5.1.6.3 Recent Developments
5.1.6.3.1 Product Launches
5.1.6.3.2 Deals
5.1.6.4 Analyst's View
5.1.6.4.1 Key Strategies
5.1.6.4.2 Strategic Choices
5.1.6.4.3 Weaknesses and Competitive Threats
5.1.7 Thermax Limited
5.1.7.1 Business Overview
5.1.7.2 Products/Solutions/Services Offered
5.1.7.3 Recent Developments
5.1.7.3.1 Deals
5.1.7.4 Analyst's View
5.1.8 Sofinter S.P.A
5.1.8.1 Business Overview
5.1.8.2 Products/Solutions/Services Offered
5.1.8.3 Analyst's View
5.1.9 Bharat Heavy Electricals Limited (Bhel)
5.1.9.1 Business Overview
5.1.9.2 Products/Solutions/Services Offered
5.1.9.3 Recent Developments
5.1.9.3.1 Deals
5.1.9.4 Analyst's View
5.1.10 Cleaver-Brooks, Inc.
5.1.10.1 Business Overview
5.1.10.2 Products/Solutions/Services Offered
5.1.10.3 Recent Developments
5.1.10.3.1 Deals
5.1.10.4 Analyst's View
5.1.11 Byworth Boilers Ltd.
5.1.11.1 Business Overview
5.1.11.2 Products/Solutions/Services Offered
5.1.11.3 Analyst's View
5.1.12 Andritz Ag
5.1.12.1 Business Overview
5.1.12.2 Products/Solutions/Services Offered
5.1.12.3 Recent Developments
5.1.12.3.1 Deals
5.1.12.3.2 Expansions
5.1.12.4 Analyst's View
5.1.13 Harbin Electric Company Limited
5.1.13.1 Business Overview
5.1.13.2 Products/Solutions/Services Offered
5.1.13.3 Analyst's View
5.1.14 Alfa Laval Ab
5.1.14.1 Business Overview
5.1.14.2 Products/Solutions/Services Offered
5.1.14.3 Recent Developments
5.1.14.4 Analyst's View
5.1.15 Ihi Corporation
5.1.15.1 Business Overview
5.1.15.2 Products/Solutions/Services Offered
5.1.15.3 Recent Developments
5.1.15.3.1 Deals
5.1.15.3.2 Other Developments
5.1.15.4 Analyst's View
5.2 Other Players
5.2.1 Bryan Steam, LLC
5.2.2 Cochran Ltd.
5.2.3 Forbes Marshal Private Limited
5.2.4 The Fulton Companies
5.2.5 Vapor Power International, LLC
5.2.6 Superior Boiler Works, Inc.
5.2.7 Hurst Boiler & Welding Company, Inc.
5.2.8 Johnston Boiler Company
5.2.9 Parker Boiler Company
5.2.10 Rentech Boiler Systems, Inc.
6 Appendix
6.1 Research Methodology
6.1.1 Research Data
6.1.1.1 Secondary Data
6.1.1.2 Primary Data
6.1.2 Research Assumptions
6.1.3 Limitations and Risks
6.2 Company Evaluation Matrix: Methodology
List of Tables
Table 1 Industrial Boilers Market: Definition
Table 2 Industrial Boilers Market: Inclusions and Exclusions
Table 3 Total Number of Patents
Table 4 Top 10 Patent Owners
Table 5 Industrial Boilers Market: Role of Players in Ecosystem
Table 6 Industrial Boilers Market: Porter's Five Forces Analysis
Table 7 Industrial Boilers Market: Conferences and Events
Table 8 Industrial Boilers Market: Degree of Competition
Table 9 Industrial Boilers Market: Revenue Analysis
Table 10 Market Evaluation Matrix
Table 11 Product Launches, 2018-2025
Table 12 Deals, 2018 - 2025
Table 13 Other Developments, 2018-2025
Table 14 Babcock & Wilcox Enterprises, Inc.: Company Overview
Table 15 Babcock & Wilcox Enterprises, Inc.: Deals
Table 16 Siemens: Company Overview
Table 17 Siemens: Product Offerings
Table 18 Siemens: Deals
Table 19 Wood: Company Overview
Table 20 Wood: Product Offerings
Table 21 Wood: Deals
Table 22 Wood: Expansions
Table 23 Dongfang Electric Corporation Limited (Dec Ltd.): Company Overview
Table 24 Dongfang Electric Corporation Limited (Dec Ltd.): Product Offerings
Table 25 Dongfang Electric Corporation Limited (Dec Ltd.): Deals
Table 26 Robert Bosch GmbH: Company Overview
Table 27 Robert Bosch GmbH: Products Offered
Table 28 Robert Bosch GmbH: Product Launches
Table 29 Mitsubishi Heavy Industries Ltd.: Company Overview
Table 30 Mitsubishi Heavy Industries Ltd.: Product Offerings
Table 31 Mitsubishi Heavy Industries Ltd.:Product Launches
Table 32 Mitsubishi Heavy Industries Ltd.: Deals
Table 33 Thermax Limited: Company Overview
Table 34 Thermax Limited: Product Offerings
Table 35 Thermax Limited: Deals
Table 36 Sofinter S.P.A: Company Overview
Table 37 Sofinter S.P.A: Product Offerings
Table 38 Bharat Heavy Electricals Limited (Bhel): Company Overview
Table 39 Bharat Heavy Electricals Limited (Bhel): Product Offerings
Table 40 Bharat Heavy Electricals Limited (Bhel): Deals
Table 41 Cleaver-Brooks, Inc.: Company Overview
Table 42 Cleaver-Brooks, Inc.: Products Offered
Table 43 Cleaver-Brooks, Inc.: Product Launches
Table 44 Cleaver-Brooks, Inc.: Deals
Table 45 Byworth Boilers Ltd.: Company Overview
Table 46 Byworth Boilers Ltd.: Products Offered
Table 47 Andritz Ag: Company Overview
Table 48 Andritz Ag: Product Offerings
Table 50 Andritz Ag: Expansions
Table 51 Harbin Electric Company Limited: Company Overview
Table 52 Harbin Electric Company Limited: Product Offerings
Table 53 Alfa Laval Ab: Company Overview
Table 54 Alfa Laval Ab: Product Offerings
Table 55 Alfa Laval Ab: Product Launches
Table 56 Ihi Corporation: Company Overview
Table 57 Ihi Corporation: Product Offerings
Table 59 Ihi Corporation: Other Developments
Table 60 Primary Interviews - Demand and Supply Sides
List of Figures
Figure 1 Natural Gas Segment to Account for Largest Share of Industrial Boilers Market During Forecast Period
Figure 2 Fire-Tube Segment to Account for Largest Share of Industrial Boilers Market During Forecast Period
Figure 3 Steam Boilers Segment to Dominate Market During Forecast Period
Figure 4 10-150 Bhp Segment to Lead Overall Market During Forecast Period
Figure 5 Chemicals & Petrochemicals to be Largest End-user of Industrial Boilers During Forecast Period
Figure 6 Asia-Pacific to Account for Largest Market Share
Figure 7 Drivers, Restraints, Opportunities, and Challenges in Industrial Boilers Market
Figure 8 Total Number of Patents
Figure 9 Total Number of Patents in Last 10 Years
Figure 10 Patent Analysis, by Legal Status
Figure 11 Top Jurisdictions for Industrial Boiler Patents
Figure 12 Top 10 Companies/Applicants with the Highest Number of Patents
Figure 13 Industrial Boilers Market: Ecosystem Mapping
Figure 14 Value Chain Analysis
Figure 15 Industrial Boilers Market: Porter's Five Forces Analysis
Figure 16 Trends and Disruptions Impacting Customers’ Businesses
Figure 17 Companies Adopted Acquisitions and Expansions as Key Growth Strategies Between 2018 and 2025
Figure 18 Ranking of Top Five Players in Industrial Boilers Market, 2023
Figure 19 Industrial Boilers Market Share, by Company, 2023
Figure 20 Industrial Boilers Market: Company Evaluation Matrix (Key Players), 2023
Figure 21 Industrial Boilers Market: Company Evaluation Matrix (Start-Ups & Smes), 2023
Figure 22 Strength of Product Portfolio
Figure 23 Business Strategy Excellence
Figure 24 Babcock & Wilcox Enterprises, Inc.: Company Snapshot
Figure 25 Siemens: Company Snapshot
Figure 26 Wood: Company Snapshot
Figure 27 Robert Bosch GmbH: Company Snapshot
Figure 28 Thermax Limited: Company Snapshot
Figure 29 Bharat Heavy Electricals Limited (Bhel): Company Snapshot
Figure 30 Andritz Ag: Company Snapshot
Figure 31 Alfa Laval Ab: Company Snapshot
Figure 32 Ihi Corporation: Company Snapshot
Figure 33 Industrial Boilers Market: Research Design

Companies Mentioned

  • Babcock & Wilcox Enterprises, Inc.
  • Siemens
  • Wood
  • Dongfang Electric Corporation Limited (Dec Ltd.)
  • Robert Bosch GmbH
  • Mitsubishi Heavy Industries Ltd.
  • Thermax Limited
  • Sofinter S.P.A
  • Bharat Heavy Electricals Limited (Bhel)
  • Cleaver-Brooks, Inc.
  • Byworth Boilers Ltd.
  • Andritz Ag
  • Harbin Electric Company Limited
  • Alfa Laval Ab
  • Ihi Corporation
  • Bryan Steam, LLC
  • Cochran Ltd.
  • Forbes Marshal Private Limited
  • The Fulton Companies
  • Vapor Power International, LLC
  • Superior Boiler Works, Inc.
  • Hurst Boiler & Welding Company, Inc.
  • Johnston Boiler Company
  • Parker Boiler Company
  • Rentech Boiler Systems, Inc.

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