Steam Boiler Market Size
Estimated to be USD 13.4 billion in 2023, the size of the steam boiler market is expected to rise at 5.8% from 2024 to 2032. Constant technical developments allowing the preferred feedstock to be natural gas, shale gas, and electricity will change the corporate environment. To cut the energy expenses, Weil-McLain, for example, unveiled Smart Sequencing technology in 2022. By use of lead lag rotation and regulated heat loading, the method enables boilers to sustain ideal efficiency.
To acquire important market trends
A steam boiler is a device transferring thermal energy to water to generate steam. Producing steam for a variety of industrial and household uses—including power generation, heating, and process use—including this boiler serves as its main purpose. These systems create steam under pressure by burning fuels such coal, oil, natural gas, or electricity to heat water. The produced steam can be utilized in industrial operations to provide heat or drive turbines for the generation of power.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Steam Boiler Market Size in 2023 | USD 13.4 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 5.8% |
| 2032 Value Projection | USD 22.1 Billion |
| Historical Data for | 2021 to 2023 |
| No. of Pages | 160 |
| Tables, Charts & Figures | 105 |
| Segments covered | Fuel, Capacity, Technology, Application & Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Download Free Sample Ask for Discount Request Customization
What are the growth opportunities in this market?
Steam Boiler Market Trends
The growing focus on reducing the aftereffects of GHG emissions along with introduction of emission control policies by the federal and state governments will drive the industry growth. The government has introduced regulation regarding the conversion of old boilers necessitate the use of clean fuels as the feedstock for heating technologies which in turn will energize the business scenario. Introduction of government objectives to attain decarbonized & highly energy-efficient building stock along with paradigm shift toward the development of green buildings in the near terms will propel the boiler market.
Download Free Sample Ask for Discount Request Customization
Steam Boiler Market Analysis
Learn more about the key segments shaping this market
The ≤ 10 MMBtu/hr segment will exceed over USD 6.5 billion by 2032. These units are predominantly used in public assemblies, lodging facilities, offices, schools, institutions, retail centers, and small-scale industries due to their primary advantages, such as low initial investment, ease of installation, and minimal maintenance requirements. Moreover, increasing consumer awareness regarding the adoption of dependable and efficient heating units is expected to drive product demand. Ongoing investments in expanding commercial centers and upgrading industries are also anticipated to positively impact industry growth.
Learn more about the key segments shaping this market
The natural gas steam boiler market size is set to grow at a rate of over 6% by 2032. Competitive natural gas prices in line with the shifting consumer focus toward the deployment of sustainable heating technologies will drive the industry outlook. The ease-of-extraction and robust gas supply networks across the nations will institute a favorable business outlook. Moreover, the surging investments toward the expansion of manufacturing facilities along with increasing replacement of conventional heating systems with energy-efficient units will continue to drive the product adoption.
Looking for region specific data?
The Asia Pacific steam boiler market is set to surpass USD 9 billion by 2032. The escalation in the development & expansion of healthcare facilities and educational institutions will complement the adoption of these systems. In addition, the growing investments toward the expansion of manufacturing facilities along with stringent norms for the development of green buildings will positively sway the industry outlook.
U.S. steam boiler will witness a significant growth owing to the introduction of government mandates to limit Greenhouse Gas (GHG) emissions and surging replacement of conventional heating units with energy efficient boilers. The flourishing commercial sector along with the increasing investments in industrial development owing to the rapid economic growth will augment the business landscape. Moreover, introduction of tax incentives to promote the adoption of energy-efficient technologies that consume less fuel & deliver high energy along with extreme climatic conditions will energize the industry dynamics.
Steam Boiler Market Share
Cleaver-Brooks is one of the prominent companies in the steam boiler industry renowned for its innovative solutions and comprehensive range of boiler systems. The company has established itself as a leader in the field, offering a diverse portfolio of products tailored to various industrial and commercial applications. Their boilers are recognized for their efficiency, reliability, and advanced technology, catering to industries such as healthcare, education, manufacturing, and more. It not only manufactures boilers but also provides extensive support services, including maintenance, training, and system optimization, ensuring optimal performance and longevity of their equipment.
Steam Boiler Market Companies
The key industry players include
- Atlantic Boilers
- Babcock & Wilcox Enterprises
- Babcock Wanson
- Bosch Industriekessel
- Clayton Industries
- Cleaver-Brooks
- Cochran
- FERROLI
- Forbes Marshall
- General Electric
- Hoval
- Hurst Boiler & Welding Co.
- John Cockerill
- John Wood Group PLC
- Miura America
- P.M. Lattner Manufacturing Co.
- PARKER BOILER
- Precision Boilers
- Reimer Electra Steam
- The Fulton Companies
- Thermax Limited
- VAPOR POWER INTERNATIONAL
- VIESSMANN
- Weil-McLain
Steam Boiler Industry News
- In January 2023, Clayton Industries implemented 600 hp E series boilers along with customized steam solutions for their corrugation plant. The E series boilers, spanning from 150 to 2,000 boiler horsepower, feature advanced options such as skid mounting, containerization, fired steam generators, and fully modulated automatic controls. This strategic initiative has bolstered the company's global standing.
- In July 2022, Bosch Industriekessel has introduced the new ELSB series of electric steam boilers to cater to both residential and commercial applications. This series operates exclusively on electricity, ensuing the power-to-heat principle, eliminating the need for chimneys, flue gas components or a fuel supply infrastructure. This ELSB series supports carbon-neutral technology and incorporates advanced features such as minimized emissions and enhanced efficiency, positioning it as a sustainable choice for environmentally conscious consumers.
Download Free Sample Ask for Discount Request Customization
The steam boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBTU/hr” & “USD Million” from 2021 to 2032, for the following segments
Market, By Fuel
- Natural Gas
- Oil
- Coal
- Others
Market, By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Technology
- Condensing
- Non-Condensing
Market, By Application
- Commercial
- Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
- Fuel
- Natural Gas
- Oil
- Coal
- Others
- Technology
- Condensing
- Non-Condensing
- Capacity
- Industrial
- Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
- Fuel
- Natural Gas
- Oil
- Coal
- Others
- Technology
- Condensing
- Non-Condensing
- Capacity
The above information has been provided for the following regions and country
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Poland
- Italy
- Spain
- Austria
- Germany
- Sweden
- Russia
- Asia Pacific
- China
- India
- Philippines
- Japan
- South Korea
- Australia
- Indonesia
- Middle East & Africa
- Saudi Arabia
- Iran
- UAE
- Nigeria
- South Africa
- Latin America
- Argentina
- Chile
- Brazil
Frequently Asked Questions (FAQ)
How large is the steam boiler industry?
Steam boiler market size was worth USD 13.4 billion in 2023 and will grow at 5.8% CAGR between 2024 and 2032, propelled by the growing demand for efficient energy solutions in industrial processes, and the need for heating in commercial and residential sectors.
Why is the demand for natural gas steam boilers rising?
The natural gas segment will garner 6% CAGR through 2032 due to its high efficiency, lower emissions, and cost-effectiveness compared to coal and oil-fired boilers.
What is Asia Pacific steam boiler market worth?
Asia Pacific steam boiler industry will reach USD 9 billion by 2032, owing to the expanding food and beverage, chemical, and power generation industries, rapid industrialization, urbanization, and the growing population.
Who are the prominent steam boiler industry players?
Some of the leading steam boiler industry players include Atlantic Boilers, Babcock & Wilcox Enterprises, Babcock Wanson, Bosch Industriekessel, Clayton Industries, Cleaver-Brooks, Cochran, FERROLI, Forbes Marshall, and General Electric, among others.
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy