Industrial Boilers Global Market Report 2026

Industrial boilers are enclosed vessels designed to heat water or produce steam for industrial heating and humidification purposes, utilizing either a fuel source or electricity. They play a crucial role in generating steam or heating water for space and process heating, as well as for the production of mechanical power and electricity.

The primary types of industrial boilers are fire-tube and water-tube. In a fire-tube boiler, water flows outside (around) the tube, while hot gases generated by the combustion chamber are within the tube. This type of boiler is employed to drive turbine blades and generate power. Various fuel types, including natural gas, biomass, coal, oil, and others, are used, with different boiler horsepower ranges such as 10-150 bhp, 51-300 bhp, and 301-600 bhp. Industrial boilers find applications in diverse industries, including chemicals and petrochemicals, paper and pulp, food and beverages, metals and mining, among others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on steel plates, burners, control systems, and pressure components are increasing production costs for industrial boilers. Chemical, food, and metal industries in North America and Europe are most impacted due to dependence on imported boiler components, while Asia-Pacific exporters face pricing pressure. These tariffs raise project costs and delay installations. However, they are promoting localized fabrication, adoption of alternative fuels, and innovation in energy-efficient and smart boiler technologies.

The industrial boilers market research report is one of a series of new reports from The Business Research Company that provides industrial boilers market statistics, including industrial boilers industry global market size, regional shares, competitors with an industrial boilers market share, detailed industrial boilers market segments, market trends, and opportunities, and any further data you may need to thrive in the industrial boilers industry. This industrial boilers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industrial boilers market size has grown strongly in recent years. It will grow from $16.13 billion in 2025 to $17.23 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrial steam demand, fossil fuel availability, expansion of manufacturing plants, centralized heating systems, traditional boiler designs.

The industrial boilers market size is expected to see strong growth in the next few years. It will grow to $22.39 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to decarbonization targets, fuel switching initiatives, industrial energy optimization, automation in boiler operations, demand for reliable process heat. Major trends in the forecast period include shift toward high efficiency boilers, adoption of biomass and cleaner fuels, integration of smart boiler controls, demand for compact boiler systems, expansion of process heating applications.

The increasing power generation is expected to drive the industrial boilers market going forward. Power generation refers to the process of producing electricity from primary energy sources such as fossil fuels, nuclear, or renewable sources to supply homes, industries, and infrastructure. It converts mechanical, chemical, or solar energy into electrical energy for consumption. The growth in power generation is driven by rising electricity demand, enabling the supply of energy to industries, households, and infrastructure, thereby supporting economic growth and development. Industrial boilers support power generation by efficiently producing high-pressure steam or hot water, which drives turbines and generates electricity for large-scale power plants and industrial facilities. For example, in May 2024, according to Ember, a UK-based independent, non-profit climate and energy organization, global electricity demand increased by 627 TWh in 2023, reflecting a significant rise in power generation across major regions. Therefore, the increasing power generation will support the growth of the industrial boilers market during the forecast period.

Major companies operating in the industrial boilers market are focusing on developing advanced solutions, such as oxy-combustion carbon-capture boilers, to meet the rising demand for low-carbon power generation and sustainable industrial steam. Oxy-combustion carbon-capture boilers are systems that burn fuel in nearly pure oxygen instead of air, resulting in flue gases composed primarily of CO2 and water vapor, which can be efficiently captured and liquefied to reduce greenhouse gas emissions. For instance, in June 2025, ENGIE, a France-based energy company, commissioned its new Ch0C gas boiler, a next-generation industrial gas boiler designed for industrial applications such as manufacturing, chemical, and food processing. The Ch0C boiler integrates a high-efficiency combustion system with downstream CO2 capture, offering comparable thermal output and steam-generation capacity to conventional gas-fired boilers while capturing about 90% of CO2 emissions. Its design enables industries to maintain operational performance while meeting stricter emission regulations, making it a sustainable alternative to traditional boilers.

In January 2024, Thermon Group Holdings Inc., a US-based provider of industrial heating solutions, acquired Vapor Power International, LLC for an undisclosed sum. This acquisition expands Thermon's product offerings in electric resistance and low-emission technologies, aligning with current trends toward decarbonization and electrification. Vapor Power International LLC is a US-based manufacturer of industrial boilers.

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

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

The countries covered in the industrial boilers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial boilers market consists of sales of heating components such as burners, combustion chambers, heat exchangers, control systems, supply lines, circulator pumps, exhaust stacks, and related products. 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.

Industrial Boilers Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses industrial boilers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for industrial boilers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The industrial boilers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered: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
• Companies Mentioned: 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
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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