Latest News - Industrial Boiler Market: Gas fired boiler is expected to lead the Source segment during 2025-2029

The Industrial Boiler Market is being driven by Rising popularity of hybrid boilers

The Industrial Boiler Market is expected to grow at a CAGR of 3.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3198.1 million. In the industrial sector, the increasing affordability and reliability of electricity are driving growth in the demand for electric steam boilers. Previously, the high cost and inconsistent supply of electricity limited electric boilers to residential and commercial applications. However, advancements in power generation technology, reduced transmission losses, and a significant expansion of global electricity generation capacity are leading to more competitive electricity prices and a more stable supply. Consequently, electric boilers are becoming increasingly attractive options for industrial processes that require steam or hot water. This trend is particularly significant in developed and rapidly growing developing countries where electricity infrastructure is improving. 

Get more information on Industrial Boiler Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Source
  • Gas fired boiler
  • Coal fired boiler
  • Oil fired boiler
  • Others
• End-user
  • Chemicals and petrochemicals
  • Food processing
  • Paper and pulp
  • Power generation
  • Others
• Type
  • Fire-tube boilers
  • Water-tube boilers
• Power Rating
  • 10-150 BHP
  • 51-300 BHP
  • 301-600 BHP
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • North America
    • US
    • Canada
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising popularity of hybrid boilers
• Increasing demand for biomass boilers
• Growth in global industrial activities

However, the market also witnesses some limitations, which are as follows:

• Global shift toward solar and wind energy
• Growth of boiler rental industry
• Technology upgrades in existing boilers in compliance with emission norms leading to low demand for new boilers

Benefits of Buying Global Industrial Boiler Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Industrial Boiler Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Industrial Boiler Market encompasses various aspects of boiler systems, including installation, commissioning, troubleshooting, repair, and replacement. Boiler technology continues to innovate with optimization, monitoring, control systems, automation, safety, and combustion. Maintenance programs, training, certification, and compliance with standards, codes, and regulations are essential. Boiler life cycle management involves extending life, analyzing performance, and reducing emissions through data analytics, modeling, and simulation.

Market Research Overview

The industrial boiler market is a significant segment of the larger global industrial machinery and supplies and components market. This market encompasses manufacturers of steam boilers, hot water boilers, fired boilers, electric boilers, gas boilers, and oil boilers. According to Technavio's market analysis, the industrial machinery and supplies and components market size is determined by the combined revenue generated by manufacturers of machinery and components utilized in industrial applications. Factors driving the expansion of this market include the increasing industrial output in process and discrete industries, particularly in developing countries, which is leading to capacity additions in sectors such as energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. The growing demand for these industries' products is a result of the ongoing economic growth in developing nations. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/