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Industrial Boilers Market Size, Share Global Analysis Report, 2020–2026

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Industrial Boilers Market By Fuel (Oil & Gas, Fossil, Non-Fossil, and Biomass) and By Application (Chemicals & Petrochemicals, Paper & Pulp, Food & Beverages, Metals & Mining, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

Industry Insights

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the industrial boilers industry. The report analyzes and declares the historical and current trends analysis of the industrial boilers industry and subsequently recommends the projected trends anticipated to be observed in the industrial boilers market during the upcoming years.

The industrial boilers market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire industrial boilers market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.

Industrial Boilers Market Size

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logoKey Insights from Primary Research

  • As per our primary respondents, the industrial boilers market is set to grow annually at a rate of around 4.5%
  • It was established through primary research that the industrial boilers market was valued at around USD 14.1 billion in 2019
  • Europe held the largest market share of industrial boilers market in terms of revenue in 2019
  • The “Fossil” category, on the basis of fuel segmentation, was the leading revenue-generating category in 2019
  • The “Chemicals & Petrochemicals” category, on the basis of application segmentation, was the leading revenue-generating in 2019

logoKey Recommendations from Analyst

  • As per our analysts, growing food & beverages, FMCG, and petrochemical industries are expected to boost industry growth over the forecast period
  • Rapidly growing petrochemical industries in developing economies including China and India are likely to boost the demand for industrial boilers
  • Paper & pulp application segment is anticipated to grow at the fastest CAGR over the forecast period
  • Strict standards imposed to regulate harmful emissions in the air will result in the enhancement of existing products, which is further expected to boost the market
  • Biomass fuel segment was the second-largest segment in 2019 and is expected to witness the highest growth rate over the forecast period

logoIndustrial Boilers Market Share – By Region

Industrial Boilers Market

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The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the industrial boilers industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the industrial boilers industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the industrial boilers market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the industrial boilers industry. The industrial boilers market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the industrial boilers sector. Key strategic developments in the industrial boilers market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the industrial boilers market are appropriately highlighted in the report.

Rising food & beverage industries, petrochemical, and FMCG industries are expected to fuel growth in the upcoming years. Industries like FMCG and food & beverages are expected to grow due to the increasing population and rising disposable incomes, particularly in established regions like Europe and North America. Strict regulations introduced to control toxic air pollution would contribute to the improvement of existing goods, which is expected to further boost the demand. New and enhanced items are also likely to improve industrial boiler adoption over the forecast period.

The industrial boilers market research report delivers an acute valuation and taxonomy of the industrial boilers industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the industrial boilers industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the industrial boilers industry is provided for the leading economies of the world.

The industrial boilers market is segmented based on fuel and application.  On the basis of fuel segmentation, the market is classified into oil & gas, fossil, non-fossil, and biomass. In terms of application segmentation, the market is bifurcated into chemicals & petrochemicals, paper & pulp, food & beverages, metals & mining, and others.

logoReport Scope

Report Attribute


Market Size in 2019

USD 14.1 Billion

Projected Market Size in 2026

USD 19.2 Billion

CAGR Growth Rate

4.5% CAGR

Base Year


Forecast Years


Key Market Players

Siemens AG, Forbes Marshall, Mitsubishi Heavy Industries, Ltd., Cheema Boilers Limited, AC Boilers, Dongfang Electric Corporation Ltd., Thermax Ltd., Bharat Heavy Electricals Ltd., Babcock & Wilcox Enterprises, Inc., Harbin Electric Corporation, IHI Corporation, and Others.

Key Segment

By Fuel, By Application, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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logoCompetitive Players

Some of the essential players operating in the industrial boilers market, but not restricted to include :

  •  Siemens AG
  •  Forbes Marshall
  •  Mitsubishi Heavy IndustriesLtd.
  •  Cheema Boilers Limited
  •  AC Boilers
  •  Dongfang Electric Corporation Ltd.
  •  Thermax Ltd.
  •  Bharat Heavy Electricals Ltd.
  •  Babcock & Wilcox Enterprises Inc.
  •  Harbin Electric Corporation
  •  IHI Corporation

The taxonomy of the industrial boilers industry by its scope and segmentation is as follows:

logo By Fuel Segmentation Analysis (Customizable)

  • Oil & Gas
  • Fossil
  • Non-Fossil
  • Biomass

logo By Application Segmentation Analysis (Customizable)

  • Chemicals & Petrochemicals
  • Paper & Pulp
  • Food & Beverages
  • Metals & Mining
  • Others

logo Regional Segmentation Analysis (Customizable)

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Industry Major Market Players

  •  Siemens AG
  •  Forbes Marshall
  •  Mitsubishi Heavy IndustriesLtd.
  •  Cheema Boilers Limited
  •  AC Boilers
  •  Dongfang Electric Corporation Ltd.
  •  Thermax Ltd.
  •  Bharat Heavy Electricals Ltd.
  •  Babcock & Wilcox Enterprises Inc.
  •  Harbin Electric Corporation
  •  IHI Corporation