North America Industrial Boiler Market size exceeded USD 1.9 billion and is anticipated to exhibit 4.4% CAGR during 2024 to 2032.
To obtain key market trends
Industry growth will be favorably impacted by growing demand for sophisticated heating systems and government initiatives to curb carbon emissions. The industry will see a commendable growth due to strong development of industrial plants and massive investments by the private and public players within the industry. Moreover, there is an increasing need for the replacement of aging boilers that have crossed their average life of operation, providing a lucrative business prospect. The worldwide market of industrial boiler is expected to exceed USD 15.5 billion by 2032.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| North America Industrial Boiler Market Size in 2023 | USD 1.9 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 4.4% |
| 2032 Value Projection | USD 2.8 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 400 |
| Tables, Charts & Figures | 1,132 |
| Segments covered | Product, Capacity, Application, Technology, Fuel |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth prospects in this market?
COVID– 19 Impact
The COVID- 19 pandemic touched market by lockdown, supply chain disruptions, and low industrial activities led to a drop in the demand of these units. Projects were postponed or canceled, impacting new installations and replacements. The economic slowdown and financial limitations experienced by businesses further slowed boiler market growth. Nevertheless, with industries progressively resuming production and economic recovery programs being undertaken, the market began registering signs of relief with a slow but steady pick-up in North America's industrial boiler market demand.
North America Industrial Boiler Market Analysis
The water tube industrial boiler market is likely to register a growth rate of 4.6% by 2032 led mainly by continuous investments being made towards expansion of production facilities and growing industrialization. Additionally, the increased demand for effective units providing safe operations, high efficiency, and low maintenance will drive the increased penetration of these products. Favorable government regulations that encourage the installation of energy efficient boiler along with continued replacement of legacy systems. The fire tube industrial boiler market is expected to grow more than USD 4.6 billion across the globe by 2032.
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Discover more about the key segments that are defining this market
The gas fired boiler market is expected to witness growth driven by the rise in gas supply infrastructure development and increased focus on clean technologies. Further, the prevailing competitive pricing of natural gas combined with the growing demand for sustainable solutions will propel the product deployment. Further, strict government policies and regulations concerning the deployment of low-emission fuel systems will drive the industrial boiler market growth in North America.
The 50 - 75 MMBtu/hr capacity boilers industry surpassed a valuation of USD 200 million in 2022. The increasing demand for water heating across different industries like the food & beverage, pulp & paper, and other allied industrial businesses is anticipated to fuel the uptake of such products. Also, the extensive use of these units in the production of steam and process heating in small and medium-scale industries will support the increasing trend of the market.
Know more about the main segments influencing this market
Food processing application held 10% of the North America industrial boiler market in 2022. Increasing dietary trends towards value-added foods such as meat and chocolates, along with changing lifestyles among consumers, have provided conducive opportunities for these units' adoption. In addition, growing demand for packaged food due to the COVID- 19 pandemic will boost the business scenario. Additionally, the increasing need for efficient and affordable heat solutions in industrial plants will also support the favorable business scenario.
The condensing boiler market is expected to witness stronger growth as more focus is given to lessening carbon footprint and compliance with government mandates on energy saving. Additionally, the introduction of national standards for monitoring the emissions from boilers will promote the replacement of traditional boiler units. The increased demand for processed food along with strong investments in the establishment of chemical plants will drive the demand for the North America industrial boiler market.
Searching for region specific information?
The U.S. industrial boiler industry is anticipated to accumulate USD 2 billion by 2032 due to the optimistic chemical, refining, and petrochemical sector outlook backed by policies that encourage less carbon-intensive footprints. The major metal production industry, specifically in Arkansas, is experiencing a developing dominance that will fortify the overall market growth. The growing demand for space heating, low temperatures in winters, and upgrading of already existing industrial plants will also boost industry growth.
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North America Industrial Boiler Market Share
The major players operating in the competitive landscape includes
- General Electric
- Babcock and Wilcox Enterprises
- The Fulton Companies
- Hurst Boiler and Welding Co.
- Cleaver-Brooks
- IHI Corporation
- Clayton Industries
- John Cockerill
- John Wood Group PLC
- Doosan Heavy Industries & Construction.
- MITSUBISHI HEAVY INDUSTRIES
- Miura America Co.
- VIESSMANN
- Sofinter
- Rentech Boilers
- Thermax Limited
- Groupe Atlantic
- Victory Energy Operations
North America Industrial Boiler Industry News
- In November 2022, Babcock & Wilcox delivered two package boilers to American petroleum refinery accompanied by auxiliary equipment and cutting-edge emission control technologies. These package boilers and emission control solutions offer customers a range of flexible options and features to effectively address the specific demands and challenges associated with the petroleum refining industry.
- In February 2020, Cleaver-Brooks introduced a connected boiler solution called Prometha, which harnesses the power of the Internet of Things (IoT). This cutting-edge solution enables remote control of boiler systems from any location and provides improved reliability, sustainability, and safety. Utilizing advanced technology, Prometha collects data on the health of the boiler system and transmits it to authorized users via mobile phones and laptops. This real-time data empowers customers to make accurate decisions regarding boiler operation and maintenance.
This North America industrial boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBtu/hr” & “USD” from 2019 to 2032, for the following segments
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Market, By Product
- Fire-Tube
- Water-Tube
Market, By Capacity
- < 10 MMBtu/hr
- 10 - 25 MMBtu/hr
- 25 - 50 MMBtu/hr
- 50 - 75 MMBtu/hr
- 75 - 100 MMBtu/hr
- 100 - 175 MMBtu/hr
- 175 - 250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Application
- Food processing
- Pulp & paper
- Chemical
- Refinery
- Primary metal
- Others
Market, By Technology
- Condensing
- Non-condensing
Market, By Fuel
- Natural gas
- Oil
- Coal
- Others
The above information has been provided for the following countries
- U.S.
- Canada
- Mexico
Authors Ankit Gupta, Shubham Chaudhary
Frequently Asked Questions (FAQ)
How big is the North America industrial boiler market?
The market size of industrial boiler in North America exceeded USD 1.9 billion in 2022 and is poised to depict 4.4% CAGR during 2024 to 2032, owing to the increasing adoption of advanced heating systems and favorable government policies aimed at reducing carbon emissions.
Why is the demand for water tube industrial boilers growing?
The water tube industrial boiler product segment is set to witness 4.6% growth till 2032, driven by ongoing investments in expansion of manufacturing facilities and rapid industrialization.
What is the size of U.S. industrial boiler market?
The U.S. industrial boiler industry estimated to amass USD 2 billion in revenue by 2032 owing to the steady growth of the multiple end-user industries such as chemical, refining, and petrochemical.
Who are the major players operating in the North America industrial boiler business landscape?
General Electric, Babcock and Wilcox Enterprises, The Fulton Companies, Cleaver-Brooks, IHI Corporation, John Cockerill, John Wood Group PLC, Doosan Heavy Industries & Construction., MITSUBISHI HEAVY INDUSTRIES, Miura America Co., VIESSMANN, Thermax Limited, Groupe Atlantic and Victory Energy Operations are some of the top enterprises in the industry.
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