Industrial Boilers Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: December 8, 2020 |

The global industrial boilers market size was valued at over USD 14.5 billion in 2020 and expected to grow at a significant CAGR during the forecast period 2020 to 2027. The growing demand for clean energy is a key factor to drive the market by the chemical industry. Furthermore, the increasing demand for industrial boiler in the food and beverage sector is projected to propel the market. In addition, the rising industrial growth in various economies such as India, Philippines, and others is estimated to increase the demand for industrial boilers across the globe. However, the high installation cost is projected to hinder the market growth over the forecast period.

Market Segment Insights:

The global industrial boilers market is segmented into boiler type, fuel type, application, and geography. On the basis of fuel type, the market is classified into oil & gas, fossil, non-fossil, and biomass fuel. The oil & gas segment held the largest market share in 2019 and accounted for over 35% market share in terms of revenue. By application, the market is divided into chemicals & petrochemicals, food & beverage, paper & pulp, metals & mining, and others. The chemical & petrochemicals segment dominated the market in 2019 and valued at around 35% market share in terms of revenue.

The COVID-19 has adversely affected the HVAC industry, the outbreak has resulted in the closure of many component manufacturing facilities in China, European countries, Japan, and the United States. A significant slowdown in the production of HVAC equipment. The lockdown imposed by governments in the wake of the COVID-19 outbreak has not only affected manufacturing but consumer demand for HVAC equipment also outstripped.

The industrial boilers comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2020 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

Global industrial boilers market size and forecast were obtained by using “Bottom-up” and “Top-down” approaches. Extensive secondary research was conducted to understand the market insights and trends, followed by primary interviews to further validate the information sourced. The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions.

The industrial boilers market research report presents the analysis of each segment from 2018 to 2027 considering 2019 as the base year for the research. The compounded Annual Growth Rate (CAGR) for each respective segments is calculated for the forecast period from 2020 to 2027.

Historical & Forecast Period

  • 2018 – Historical Year
  • 2019 – Base Year
  • 2020-2027 – Forecast Period

Global Industrial Boilers Market Segmentation:

By Boiler Type:

By Fuel Type:

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

By Application:

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

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, the Industrial Boilers Market report comprises dedicated sections centering on the regional market revenue and trends. The Industrial Boilers market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The Industrial Boilers market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Industrial Boilers Market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2020 – 2027.

Report Coverage:

  • Research Methodology
  • Research Scope
  • Executive Market Summary: Industry Snapshot
  • Industry Outlook
  • Critical Success Factors (CSFs) for the Market
  • Market Dynamics
  • Key Opportunities
  • Market Porters Five Force Analysis
  • Market Value Chain/Ecosystem Analysis
  • Market Attractive Investment Proposition
  • Market PESTEL Analysis
  • Market Positioning of Key Vendors
  • Market Segmentation Outlook
  • Regional Outlook
  • Company Profiles of Key Vendors

Global Industrial Boilers Market Key Players

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Market Competition Assessment:

Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy. Key players operating in the global Industrial Boilers market are Siemens AG, Bharat Heavy Electricals Ltd., Forbes Marshall, Mitsubishi Heavy Industries, Ltd., and Harbin Electric Corporation.

List of Key Companies:

  • Siemens AG
  • Bharat Heavy Electricals Ltd.
  • Forbes Marshall
  • Mitsubishi Heavy Industries, Ltd.
  • Harbin Electric Corporation
  • Cheema Boilers Limited
  • IHI Corporation
  • Babcock & Wilcox Enterprises, Inc.
  • John Wood Group PLC
  • Thermax Ltd.

Key Questions Answered by Industrial Boilers Market Report:

  • Global Industrial Boilers market forecasts from 2020-2027
  • Regional Industrial Boilers market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
  • Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
  • Industrial Boilers submarket forecasts from 2020-2027 covering the market by boiler type, by fuel type, by application, and geography
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to Industrial Boilers market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level Industrial Boilers markets from 2020-2027
  • Competitive Landscape and market positioning of top 10 players operating in the Industrial Boilers market

Table of Content:


1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

2. Executive Summary
2.1. Global Industrial Boilers Market Portraiture
2.2. Global Industrial Boilers Market, by Boiler Type, 2019 (USD Mn)
2.3. Global Industrial Boilers Market, by Fuel Type, 2019 (USD Mn)
2.4. Global Industrial Boilers Market, by Application, 2019 (USD Mn)
2.5. Global Industrial Boilers Market, by Geography, 2019 (USD Mn)

3. Global Industrial Boilers Market Analysis
3.1. Industrial Boilers Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. PESTEL Analysis

4. Global Industrial Boilers Market By Boiler Type, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Fire-tube
4.3. Water-tube

5. Global Industrial Boilers Market By Fuel Type, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Oil & Gas
5.3. Fossil
5.4. Non-Fossil
5.5. Biomass

6. Global Industrial Boilers Market By Application, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. Chemicals & Petrochemicals
6.3. Paper & Pulp
6.4. Food & Beverages
6.5. Metals & Mining
6.6. Others

7. Global Industrial Boilers Market, By Geography, 2018 – 2027 (USD Mn)
7.1. Introduction
7.2. North America
7.2.1. Overview
7.2.2. North America Industrial Boilers Market by Boiler Type (2018-2027 USD Mn)
7.2.3. North America Industrial Boilers Market by Fuel Type (2018-2027 USD Mn)
7.2.4. North America Industrial Boilers Market by Application (2018-2027 USD Mn)
7.2.5. North America Industrial Boilers Market by Country (2018-2027 USD Mn)
7.2.5.1. U.S.
7.2.5.2. Canada
7.2.5.3. Mexico
7.3. Europe
7.3.1. Overview
7.3.2. Europe Industrial Boilers Market by Boiler Type (2018-2027 USD Mn)
7.3.3. Europe Industrial Boilers Market by Fuel Type (2018-2027 USD Mn)
7.3.4. Europe Industrial Boilers Market by Application (2018-2027 USD Mn)
7.3.5. Europe Industrial Boilers Market by Country (2018-2027 USD Mn)
7.3.5.1. Germany
7.3.5.2. U.K.
7.3.5.3. France
7.3.5.4. Italy
7.3.5.5. Russia
7.3.5.6. Rest of Europe
7.4. Asia Pacific
7.4.1. Overview
7.4.2. Asia Pacific Industrial Boilers Market by Boiler Type (2018-2027 USD Mn)
7.4.3. Asia Pacific Industrial Boilers Market by Fuel Type (2018-2027 USD Mn)
7.4.4. Asia Pacific Industrial Boilers Market by Application (2018-2027 USD Mn)
7.4.5. Asia Pacific Industrial Boilers Market by Country (2018-2027 USD Mn)
7.4.5.1. China.
7.4.5.2. Japan
7.4.5.3. India
7.4.5.4. Australia
7.4.5.5. South Korea
7.4.5.6. Rest of Asia Pacific
7.5. Latin America (LATAM)
7.5.1. Overview
7.5.2. Latin America Industrial Boilers Market by Boiler Type (2018-2027 USD Mn)
7.5.3. Latin America Industrial Boilers Market by Fuel Type (2018-2027 USD Mn)
7.5.4. Latin America Industrial Boilers Market by Application (2018-2027 USD Mn)
7.5.5. Latin America Industrial Boilers Market by Country (2018-2027 USD Mn)
7.5.5.1. Brazil
7.5.5.2. Peru
7.5.5.3. Chile
7.5.5.4. Rest of Latin America
7.6. Middle East and Africa
7.6.1. Overview
7.6.2. MEA Industrial Boilers Market by Boiler Type (2018-2027 USD Mn)
7.6.3. MEA Industrial Boilers Market by Fuel Type (2018-2027 USD Mn)
7.6.4. MEA Industrial Boilers Market by Application (2018-2027 USD Mn)
7.6.5. Middle East and Africa Industrial Boilers Market, by Country (2018-2027 USD Mn)
7.6.5.1. South Africa
7.6.5.2. Israel
7.6.5.3. Saudi Arabia
7.6.5.4. Rest of South Africa

8. Company Profiles
8.1. Siemens AG
8.1.1. Business Description
8.1.2. Financial Health and Budget Allocation
8.1.3. Product Positions/Portfolio
8.1.4. News Coverage
8.2. Bharat Heavy Electricals Ltd.
8.2.1. Business Description
8.2.2. Financial Health and Budget Allocation
8.2.3. Product Positions/Portfolio
8.2.4. News Coverage
8.3. Forbes Marshall
8.3.1. Business Description
8.3.2. Financial Health and Budget Allocation
8.3.3. Product Positions/Portfolio
8.3.4. News Coverage
8.4. Mitsubishi Heavy Industries, Ltd.
8.4.1. Business Description
8.4.2. Financial Health and Budget Allocation
8.4.3. Product Positions/Portfolio
8.4.4. News Coverage
8.5. Harbin Electric Corporation
8.5.1. Business Description
8.5.2. Financial Health and Budget Allocation
8.5.3. Product Positions/Portfolio
8.5.4. News Coverage
8.6. Cheema Boilers Limited
8.6.1. Business Description
8.6.2. Financial Health and Budget Allocation
8.6.3. Product Positions/Portfolio
8.6.4. News Coverage
8.7. IHI Corporation
8.7.1. Business Description
8.7.2. Financial Health and Budget Allocation
8.7.3. Product Positions/Portfolio
8.7.4. News Coverage
8.8. Babcock & Wilcox Enterprises, Inc.
8.8.1. Business Description
8.8.2. Financial Health and Budget Allocation
8.8.3. Product Positions/Portfolio
8.8.4. News Coverage
8.9. John Wood Group PLC
8.9.1. Business Description
8.9.2. Financial Health and Budget Allocation
8.9.3. Product Positions/Portfolio
8.9.4. News Coverage
8.10. Thermax Ltd.
8.10.1. Business Description
8.10.2. Financial Health and Budget Allocation
8.10.3. Product Positions/Portfolio
8.10.4. News Coverage
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List of Figures :


FIG. 1 Global Industrial Boilers: Market Segmentation
FIG. 2 Global Industrial Boilers Market: Research Methodology
FIG. 3 Top-Down and Bottom-up Approach
FIG. 4 Global Industrial Boilers Market, by Boiler Type, 2019 (US$ Mn)
FIG. 5 Global Industrial Boilers Market, by Fuel Type, 2019 (US$ Mn)
FIG. 6 Global Industrial Boilers Market, by Application, 2019 (US$ Mn)
FIG. 7 Global Industrial Boilers Market, by Geography, 2019 (US$ Mn)
FIG. 8 Global Industrial Boilers Market Value and Growth, 2018 – 2027, (US$ Mn) (Y-o-Y %)
FIG. 9 Attractive Investment Proposition, by Geography, 2017
FIG. 10 Market Positioning of Key Industrial Boilers Providers, 2019
FIG. 11 Global Industrial Boilers Market Value Share, by Boiler Type, 2018 & 2027 (%)
FIG. 12 Global Industrial Boilers Market Value for Fire-tube Boiler, 2018 - 2027, (US$ Mn)
FIG. 13 Global Industrial Boilers Market Value for Water-tube Boiler 2018 - 2027, (US$ Mn)
FIG. 14 Global Industrial Boilers Market Value Share, by Fuel Type, 2018 & 2027 (Value %)
FIG. 15 Global Industrial Boilers Market Value for Oil & Gas, 2018 - 2027, (US$ Mn)
FIG. 16 Global Industrial Boilers Market Value for Fossil, 2018 - 2027, (US$ Mn)
FIG. 17 Global Industrial Boilers Market Value for Non-Fossil, 2018 - 2027, (US$ Mn)
FIG. 18 Global Industrial Boilers Market Value for Biomass, 2018 - 2027, (US$ Mn)
FIG. 19 Global Industrial Boilers Market Value Share, by Application, 2018 & 2027 (Value %)
FIG. 20 Global Industrial Boilers Market Value for Chemicals & Petrochemicals, 2018 - 2027 (US$ Mn)
FIG. 21 Global Industrial Boilers Market Value for Paper & Pulp, 2018 - 2027 (US$ Mn)
FIG. 22 Global Industrial Boilers Market Value for Food & Beverages, 2018 - 2027 (US$ Mn)
FIG. 23 Global Industrial Boilers Market Value for Metals & Mining, 2018 - 2027 (US$ Mn)
FIG. 24 Global Industrial Boilers Market Value for Others, 2018 - 2027 (US$ Mn)
FIG. 25 North America Industrial Boilers Market Value, 2018 - 2027, (US$ Mn)
FIG. 26 Europe Industrial Boilers Market Value, 2018 - 2027, (US$ Mn)
FIG. 27 Asia Pacific Industrial Boilers Market Value, 2018 - 2027, (US$ Mn)
FIG. 28 LATIN America Industrial Boilers Market Value, 2018 - 2027, (US$ Mn)
FIG. 29 Middle East & Africa Industrial Boilers Market Value, 2018 - 2027, (US$ Mn)
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List of Tables:


TABLE 1 Market Snapshot: Global Industrial Boilers Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Challenges
TABLE 4 Global Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 5 Global Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 6 Global Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 7 North America Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 8 North America Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 9 North America Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 10 North America Industrial Boilers Market Value, By Country, 2018 - 2027 (US$ Mn)
TABLE 11 U.S. Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 12 U.S. Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 13 U.S. Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 14 Canada Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 15 Canada Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 16 Canada Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 17 Mexico Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 18 Mexico Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 19 Mexico Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 20 Europe Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 21 Europe Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 22 Europe Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 23 Europe Industrial Boilers Market Value, by Country, 2018 - 2027 (US$ Mn)
TABLE 24 Germany Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 25 Germany Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 26 Germany Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 27 U.K. Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 28 U.K. Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 29 U.K. Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 30 France Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 31 France Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 32 France Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 33 Italy Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 34 Italy Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 35 Italy Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 36 Rest of Europe Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 37 Rest of Europe Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 38 Rest of Europe Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 39 Asia Pacific Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 40 Asia Pacific Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 41 Asia Pacific Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 42 Asia Pacific Industrial Boilers Market Value, by Country, 2018 - 2027 (US$ Mn)
TABLE 43 Japan Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 44 Japan Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 45 Japan Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 46 China Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 47 China Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 48 China Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 49 India Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 50 India Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 51 India Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 52 South Korea Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 53 South Korea Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 54 South Korea Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 55 Rest of Asia Pacific Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 56 Rest of Asia Pacific Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 57 Rest of Asia Pacific Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 58 Latin America Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 59 Latin America Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 60 Latin America Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 61 Latin America Industrial Boilers Market Value, by Country, 2018 - 2027 (US$ Mn)
TABLE 62 Middle East & Africa Industrial Boilers Market Value, by Boiler Type, 2018 - 2027 (US$ Mn)
TABLE 63 Middle East & Africa Industrial Boilers Market Value, by Fuel Type, 2018 - 2027 (US$ Mn)
TABLE 64 Middle East & Africa Industrial Boilers Market Value, by Application, 2018 - 2027 (US$ Mn)
TABLE 65 Middle East & Africa Industrial Boilers Market Value, by Country, 2018 - 2027 (US$ Mn)
TABLE 66 Siemens AG: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 67 Bharat Heavy Electricals Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 68 Forbes Marshall: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 69 Mitsubishi Heavy Industries, Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 70 Harbin Electric Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 71 Cheema Boilers Limited: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 72 IHI Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 73 Babcock & Wilcox Enterprises, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 74 John Wood Group PLC: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 75 Thermax Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
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