Overview of the Global Boiler Industry:
The Global Boiler market is projected to experience substantial growth between 2024 and 2030, driven by digital transformation, innovation in service delivery, and expanding global demand. With a forecasted CAGR of 4.2% the market is expected to reach USD 110 Billion in 2023.
This report offers an in-depth analysis of the key drivers, challenges, competitive landscape, and future outlook — helping businesses, investors, and stakeholders make informed decisions.
Market Size & Forecast (2024–2030)
- Base Year: 2023
- Forecast Period: 2024–2030
- Market Size (2023): USD 110 Billion
- Estimated CAGR (2024–2030): 4.2%
Key Market Driver (What’s Driving Boiler Sector Growth?)
Rising Focus on Industrialization & Urbanization Across the Globe – Boilers play an important role in industrial processes such as power generation, generating steam, and hot water, rapid industrialization and urbanization across the globe are driving the market for boilers. Rising advancements across the major industries such as chemicals and petrochemicals, the textile industry, the food processing industry, the paper industry, mining, and power generation, etc., are continuously expanding the market of boilers as boilers help in most industrial activities.
Further, increasing urbanization is also driving the growth of the boiler industry because boilers are extensively used in residential units for various activities. Also, with increasing urban settlements, the demand for boilers is increasing in the market to fulfill various household purposes such as heating, generating steam, boiling fluids, and space heating.
("Engage with our team using your official business email to unlock full access and priority support.")
In case you missed it, we are currently revising our reports. Click on the "request sample report" button to get the latest research data with forecast for the years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn't take long for the team to deliver the most recent version of the report.
Request Free Sample Report: https://www.marknteladvisors.com/query/request-sample/boiler-market.html
Global Boiler Industry Recent Development:
- 2024: Daikin Industries a leading manufacturing company of HVAC & R, announced to enter a business and capital partnership with Miura Co., Ltd., which is an industry for the manufacturing of boilers.
- 2023: BDR Thermea Group acquires fortress energy systems, in their portfolio of heat pumps, energy transitions solutions, and hybrid, which will add to the expansion of heat networks.
Top Companies in the Boiler Market
Here’s a snapshot of key players leading innovation and market share:
- Daikin Industries, Ltd
- Ariston Thermo SpA
- Robert Bosch Gmbh
- Mitsubishi Power
- Thermax Ltd.
- Sofinter Group
- Cleaver Brooks Inc.
- BDR Thermea Group
- Byworth Boilers Ltd.
- Andritz AG
- Harbin Electric Company Ltd.
- IHI Corporation
- Weil-McLain
- PB Heat LLC
- Valliant Group
- Others
Includes SWOT analysis, revenue trends, partnerships, and product launches.
Factor Hinder Boiler Industry Growth
Increasing Competition from the Available Alternative Solutions – Alternative solutions like geothermal systems, solar heaters, and heat pumps are increasing competition for conventional boilers. These alternatives can be used for heating and providing energy without hurting the environment & climate. Currently, these solutions are used for industrial, residential as well as commercial heating requirements. Therefore, the increasing adoption of these alternative solutions in commercial and residential sectors poses a threat to the market growth for boiler companies. The heat pump and solar heaters require a low level of energy consumption for heating solutions, thus inclining the consumers towards the use of this type of alternative. Also, the geothermal system utilizing the stable temperatures of the subsurface of the earth provides heating solutions for industrial purposes, hampering the demand and market growth for conventional boilers.
Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/boiler-market.html
Boiler Market Segmentation Analysis
-By Type
- Fire Tube
- Water Tube
The ‘Water Tube’ type boilers hold the largest market share. This is primarily due to the attractive features associated with the use of water tube boilers, such as their great performance in high temperatures and pressure, producing quick steam options, with the ability to build in compact size.
-By End User
- Residential
- Commercial
- Industrial
Among all of these, the ‘Industrial’ segment holds the largest market share due to the diverse and vast range of applications of boilers in industrial processes such as metals & mining, food processing, chemicals, paper and textile industry, etc.
-By Boiler Type
- Hot Water Boilers- Market Size & Forecast 2019-2030, Thousand Units
- Gas Boilers- Market Size & Forecast 2019-2030, Thousand Units
- Steam Water Boilers- Market Size & Forecast 2019-2030, Thousand Units
- Others (Conventional Boilers, Regular Boilers, etc.)- Market Size & Forecast 2019-2030, Thousand Units
-By Fuel Type
- Natural Gas- Market Size & Forecast 2019-2030, Thousand Units
- Coal- Market Size & Forecast 2019-2030, Thousand Units
- Oil- Market Size & Forecast 2019-2030, Thousand Units
- Electric-- Market Size & Forecast 2019-2030, Thousand Units
-By Horsepower Capacity
- 10-150 BHP- Market Size & Forecast 2019-2030, Thousand Units
- 151-300 BHP- Market Size & Forecast 2019-2030, Thousand Units
- 301- 600 BHP- Market Size & Forecast 2019-2030, Thousand Units
- >600 BHP- Market Size & Forecast 2019-2030, Thousand Units
Geographical Analysis
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific- Market Size & Forecast 2019-2030, Thousand Units
Among all the major regions of the globe, Asia-Pacific holds the largest market share in the Global Boiler Market for the forecast period.
Contact Our Analysts for Brochure Requests, Customization, or Any Pre-Purchase Inquiries: https://www.marknteladvisors.com/query/request-customization/boiler-market.html
Methodology Behind the Report
This research combines qualitative and quantitative methods, including:
- Expert interviews
- Proprietary forecasting models
- Financial and trade databases
- Government and institutional data
Forecasts are validated using top-down and bottom-up approaches to ensure accuracy and reliability.
Frequently Asked Questions About the Boiler Market
- What is the growth rate of the Boiler market from 2024–2030?
- Which segment are expected to dominate market?
- Who are the top companies and what strategies being they using?
- What are the key risks and challenges in this industry?
- How can businesses prepare for future trends?
About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 14.50+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
Media Contact:
Company Name: MarkNtel Advisors
Email: [email protected]
Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh - 201301, India
