Industrial Boiler Market Size Predicted to Reach USD 23.57 Billion by 2034, CAGR at 3.6%

BySheetal Gajbhiye

Industrial Boiler Market Analysis: Opportunities, Innovations, and Growth Potential Through 2034

Global Industrial Boiler Market size and share is currently valued at USD 16.59 billion in 2024 and is anticipated to generate an estimated revenue of USD 23.57 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034

Market Definition:

The industrial boiler market comprises systems that generate steam or hot water for industrial processes. These boilers are used across sectors such as manufacturing, food processing, chemicals, and power generation. They are available in various configurations, including fire-tube and water-tube designs, and may use gas, oil, coal, or biomass as fuel.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

https://www.polarismarketresearch.com/industry-analysis/industrial-boiler-market/request-for-sample 

Key Report Highlights :

  • The report highlights the key region that accounts for the highest revenue share in the global Industrial Boiler Market.
  • It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
  • The report outlines the dominant segment that holds a major share of the market.
  • It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
  • Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance:

Report Attributes

Details

Market Size Value in 2024

USD 16.59 billion

Market Size Value in 2025

USD 17.17 billion

Revenue Forecast in 2034

USD 23.57 billion

CAGR

3.6% from 2025 to 2034

Market Opportunity:

Increasing industrialization, rising energy demands, and a shift toward cleaner and more efficient steam generation technologies are driving market opportunities. Government initiatives supporting emission control and the replacement of outdated systems also fuel demand for advanced industrial boilers with enhanced operational efficiency.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭:

https://www.polarismarketresearch.com/industry-analysis/industrial-boiler-market 

Market Key Players:

The competitive landscape features a mix of long-standing companies and emerging contenders. Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include:

  • Alfa Laval AB
  • Andritz AG
  • Babcock & Wilcox Enterprises
  • Bharat Heavy Electricals Limited
  • Byworth Boilers Ltd.
  • Cleaver-Brooks, Inc.
  • Dongfang Electric Corporation Limited (DEC LTD.)
  • Mitsubishi Heavy Industries, Ltd.
  • Robert Bosch GmbH
  • Siemens AG
  • Sofinter
  • Thermax Limited
  • Wood

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