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Industrial Boiler Market: Introduction

  • An industrial boiler is a steam or hot water boiler which can be operated with fuel such as natural gas, biomass, oil, or coal.  Industrial boilers heat or evaporate the water which is inside and transfers it to consumers through pipe systems.
  • Industrial boilers are used in a wide range of industries such as textiles, and food & beverages due to its easy operation, compact design, and higher efficiency. This is expected to drive the growth of the industrial boiler market across the world.
  • Rapid industrialization together with ongoing investments in developed and developing countries globally for the expansion of thermal power and rising demand of electricity are major factors expected to drive the growth of the industrial boiler market over the forecast period.
industrial boiler market

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Global Industrial Boiler Market: Dynamics

Global Industrial Boiler Market: Key Drivers and Restraints

  • Growth of the food & beverages industry in developed and developing economies is expected to drive the industrial boiler market. In addition, increasing production capabilities and new plant installations in the food & beverages industry is expected to enhance the demand for industrial boilers.
  • Furthermore, growing demand for energy efficient boiler systems is expected to boost the industrial boiler market.  
  • Increasing demand for industrial boilers in industries such as chemicals, textiles, pulp & paper, and metal & mining also impacts the demand for industrial boilers for process and power generation applications.
  • Increasing demand for biomass boilers is expected to fuel the industrial boiler market.
  • Moreover, rising demand for industrial boilers due to ultra-mega power projects in developing economies is expected to fuel growth of the market over the forecast period.

High Installation Cost Hindering the Market

  • Cost of industrial boilers largely differs due to its design parameters. In addition, the cost associated with installation is a negative factor that can hamper the growth of the industrial boiler market.
industrial boiler market 1

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Europe to Account for Major Share of the Global Industrial Boiler Market

  • In terms of region, the global industrial boiler market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Europe is anticipated to hold the largest share of the global industrial boiler market due to the adoption of industrial boilers in the food and beverages industry. European governments have brought forth a law pertaining to emission limit values (ELVs) to decrease the levels of harmful gases such as sulfur dioxide (SO2), and nitrogen oxide (NOX) from all combustion plants. This in turn is expected to accelerate the growth of the industrial boiler market.
  • The industrial boiler market in North America is anticipated to expand at a rapid pace over the forecast period due to rising adoption of industrial boilers in petrochemicals & power plant industry, which is expected to enhance the growth of the industrial boiler market in the region.
  • The industrial boiler market in Asia Pacific is expected to grow due to rising industrialization along with growth of the food & beverages industry.  

Global Industrial Boiler Market: Competitive Landscape

Key Players Operating in the Global Industrial Boiler Market

Few local, regional, and international players are found in the industrial boiler market. Manufacturers of industrial boilers are designing industrial boiler systems that can support multi-fuel operations in various industries. The global industrial boiler market is highly consolidated, with top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global industrial boiler market are:

  • AIT Group
  • Babcock & Wilcox Enterprises, Inc.
  • Babcock Wanson
  • Byworth Boilers
  • Garioni Naval
  • General Electric
  • Hurst Boiler & Welding Co, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • Robert Bosch GmbH
  • The IBL Group
  • Thermax Global
  • WIKA Instruments India Pvt. Ltd.
industrial boiler market 2

Global Industrial Boiler Market: Research Scope

Global Industrial Boiler Market Segmentation, by Type

  • Fire-tube boiler
  • Water-tube

Global Industrial Boiler Market Segmentation, by Application

  • Industrial
  • Commercial
  • Residential

Global Industrial Boiler Market Segmentation, by Fuel Type

  • Biomass
  • Coal
  • Natural gas
  • Oil
  • Other

Global Industrial Boiler Market Segmentation, by Horse Power

  • 10-150 HP
  • 151-300 HP
  • 301-600 HP

Global Industrial Boiler Market Segmentation, by Boiler Type

  • Multi-tube boilers
  • Cylindrical fire-tube boiler
  • Haycock and wagon top boilers

Global Industrial Boiler Market Segmentation, by Industry

  • Chemical
  • Dyeing industry
  • Food & beverage
  • Hospitals
  • Laundries and cleaning firms
  • Metal & Mining
  • Oil & Gas
  • Others (Ceramic industry, Distilleries, etc.)
  • Paper industry
  • Refineries
  • Textile

Global Industrial Boiler Market Segmentation, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Industrial Boiler Market