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Industrial Boilers Market Forecast Highlighting Growth From $17.23 Billion To $22.39 Billion
The industrial boilers market size has demonstrated significant expansion in recent years. The market is anticipated to expand from $16.13 billion in 2025 to $17.23 billion in 2026, advancing at a compound annual growth rate (CAGR) of 6.9%. Factors contributing to its past growth include industrial steam demand, the accessibility of fossil fuels, the proliferation of manufacturing plants, the presence of centralized heating systems, and conventional boiler designs.
The industrial boilers market is set for considerable expansion in the near future, with projections indicating it will reach $22.39 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.8%. This growth during the forecast period is primarily driven by decarbonization targets, various fuel switching initiatives, efforts in industrial energy optimization, increased automation within boiler operations, and the continuous demand for reliable process heat. Key developments anticipated in this period encompass a move towards high-efficiency boilers, the increasing adoption of biomass and other cleaner fuels, the integration of smart boiler control systems, a rising demand for compact boiler solutions, and the broadening of process heating applications.
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Industrial Boilers Market Growth Factors Supporting Long-Term Expansion
The expansion in power generation is projected to propel the industrial boilers market moving forward. Power generation is defined as the procedure of creating electricity from primary energy sources, such as fossil fuels, nuclear, or renewable sources, to cater to homes, industries, and infrastructure. It transforms mechanical, chemical, or solar energy into electrical energy for consumption. The surge in power generation stems from increasing electricity demand, as it facilitates the supply of energy to various industries, households, and infrastructure, thereby supporting economic advancement and development. Industrial boilers aid in enhancing power generation by efficiently producing high-pressure steam or hot water, which is crucial for driving turbines and generating electricity in large-scale power plants and industrial facilities. For instance, in May 2024, Ember, a UK-based independent, non-profit climate and energy organization, reported that global electricity demand increased by 627 TWh in 2023, indicating a notable rise in power generation across significant regions. Therefore, the growing power generation will stimulate the development of the industrial boilers market throughout the forecast period.
Industrial Boilers Market Segmentation: How Is The Market Structured Across Key Categories?
The industrial boilers market covered in this report is segmented –
1) By Boiler Type: Fire-Tube, Water-Tube
2) By Fuel: Natural Gas And Biomass, Coal, Oil, Other Fuels
3) By Boiler Horsepower: 10-150 BHP, 151-300 BHP, 301-600 BHP
4) By Applications: Chemicals And Petrochemicals, Paper And Pulp, Food And Beverages, Metals And Mining, Other Applications
Subsegments:
1) By Fire-Tube: Horizontal Fire-Tube Boilers, Vertical Fire-Tube Boilers, Packaged Fire-Tube Boilers
2) By Water-Tube: Industrial Water-Tube Boilers, High-Pressure Water-Tube Boilers
Industrial Boilers Market Strategic Trends: What Is Defining The Next Phase Of Growth?
Companies operating in the industrial boilers market are prioritizing the creation of advanced solutions, including oxy-combustion carbon-capture boilers, to fulfill the growing demand for low-carbon power generation and sustainable industrial steam. Oxy-combustion carbon-capture boilers are defined as systems that burn fuel in an environment of nearly pure oxygen rather than air, generating flue gases predominantly composed of CO2 and water vapor, which are easily captured and liquefied to mitigate greenhouse gas emissions. As an illustration, in June 2025, ENGIE, an energy company based in France, launched its new Ch0C gas boiler. This advanced industrial gas boiler is designed for various industrial applications, such as manufacturing, chemical, and food processing sectors. The Ch0C boiler integrates a high-efficiency combustion system with downstream CO2 capture, providing comparable thermal output and steam-generation capacity to conventional gas-fired boilers while capturing about 90% of CO2 emissions. Its design enables industries to uphold operational performance while meeting stricter emission regulations, establishing it as an environmentally friendly alternative to traditional boilers.
Industrial Boilers Market Competitive Landscape And Leading Companies
Major companies operating in the industrial boilers market are Siemens AG, Thermax Limited, Harbin Electric Corporation, Bharat Heavy Electricals Limited, General Electric Company, Dongfang Electric Corporation Ltd., Babcock & Wilcox Enterprises Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd., Cleaver-Brooks Inc., John Wood Group Plc., Doosan Heavy Industries & Construction Co. Ltd., Forbes Marshall Pvt. Ltd., Sofinter SPA, AC Boilers S.P.A, Alfa Laval AB, Bosch Industriekessel GmbH, Hurst Boiler & Welding Company Inc., Miura Co. Ltd., Zhengzhou Boiler (Group) Co. Ltd., Mitsui & Co Ltd, ABB Ltd, Viessmann Boilers, Fulton, IBurnham Commercial
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Industrial Boilers Market Leading Geography: Which Region Generates The Most Revenue?
North America was the largest region in the industrial boilers market in 2025. The regions covered in the industrial boilers market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.