Industrial Boiler Maintenance Market Size - By Product (Fire Tube, Water Tube), By Application (Food Processing, Pulp & Paper, Chemical, Refinery, Primary Metal), & Forecast, 2024 – 2032

Industrial Boiler Maintenance Market Size

Industrial Boiler Maintenance Market was valued at USD 20.9 billion in 2023 and is projected to expand at around 5% CAGR from 2024 to 2032. Increasing investments in energy-efficient boiler systems and maintenance practices to reduce operational costs and comply with environmental regulations will drive the business growth.
 

Paradigm shift toward predictive maintenance using advanced analytics, sensors, and Internet of Things technologies was gaining popularity, which in turn will fuel the product penetration. This approach helps to predict equipment failures before they occur, reducing downtime and optimizing maintenance schedules, accelerating the industry potential.
 

Industrial boiler maintenance refers to the regular activities and procedures undertaken to ensure the efficient and safe operation of industrial boilers. The industrial boilers are used to generate steam or heat for various industrial processes, such as power generation, heating, and manufacturing. Proper maintenance is crucial to prevent breakdowns, improve efficiency, and ensure the safety of personnel and equipment.
 

COVID– 19 Impact

The COVID-19 pandemic has caused significant delays in various projects, including infrastructure development and restructuring/renovation initiatives. The government's heightened emphasis on mitigating these impacts by enhancing operational efficiency presents a potential catalyst for market growth. Additionally, the resumption of operations in key industries, manufacturing facilities, and infrastructure projects, as guided by government measures, is expected to further contribute to the expansion of business opportunities.
 

Industrial Boiler Maintenance Market Trends

Encouraging governmental initiatives in emerging economies to bolster domestic manufacturing expansion are poised to lead to a surge in industrial facilities, propelling overall potential of industrial boilers. A favorable perspective on sustained political stability, coupled with ongoing endeavors to boost domestic manufacturing, is anticipated to nurture the industry landscape. The Environmental Protection Agency (EPA) has implemented regulations pertaining to the conversion of antiquated boilers, mandating the utilization of natural gas as the feedstock for steam boilers, escalating the dynamics of industry.
 

Industrial Boiler Maintenance Market Analysis

The water tube industrial boiler maintenance industry will witness 5.1% growth rate through 2032. Stringent safety regulations and environmental compliance standards are driving the need for regular maintenance to ensure that industrial boilers meet or exceed safety and environmental requirements. The use of advanced materials and coatings in boiler construction and maintenance is gaining traction. This is aimed at enhancing the durability and corrosion resistance of boiler components, thereby extending their lifespan.
 

The food processing boiler application held approximately 20% share of the industrial boiler maintenance market in 2023. The growing need for specialty chemicals and the changing consumer preference for processed food items have led to a surge in investments for new manufacturing facilities, consequently driving industry expansion. The readily accessible feedstock for industrial boilers and continuous technological advancements are expected to boost the demand for boilers in the chemical sector.
 

Chemical application outsources their boiler maintenance tasks to specialized service providers. This allows them to focus on their core operations while ensuring that boiler systems are maintained by experts. The industry will gain a wide recognition in the last several years owing to the growing demand for chemicals across various other manufacturing industries. The growing demand for chemicals across various consumer product & metal processing industries will further drive the business outlook.
 

• The North America industrial boiler maintenance market was worth over USD 3.8 billion in 2023. Economic growth and increased industrial activities can lead to higher demand for industrial boilers. This, in turn, may drive the need for regular maintenance and upgrades to meet production demands.
   
• The industrial sector is subject to strict environmental regulations, driving the business growth. Regular maintenance and adherence to emission standards are crucial for compliance, which in turn will offer significant opportunities for industry expansion. Upgrading boilers to meet or exceed environmental standards will further propel the maintenance activities.
   

Industrial Boiler Maintenance Market Share

Babcock Wanson is one of the leading manufacturers of industrial boilers, burners, thermal oxidizers, and associated equipment. The company has a global presence and provides a range of solutions for various industrial applications, including energy, chemical, pharmaceutical, and manufacturing.
 

Industrial Boiler Maintenance Market Companies

The key industry market players include:

• Siemens
• Babcock & Wilcox Enterprises, Inc.
• Thermax Limited
• John Wood Group PLC
• ALFA LAVAL
• Rentech Boiler Systems, Inc.
• Bosch Industriekessel GmbH
• Cleaver-Brooks
• Hurst Boiler & Welding Co, Inc.
• Mitsubishi Heavy Industries, Ltd.
• IBL Group of Companies
• WIKA Instruments India Pvt. Ltd.
• Stork
• JERA Co., Inc.
• Thermodyneboilers
• Boyle Services Inc.
• The Fulton Companies
• Miura America Co., LTD.
• Indeck Power Equipment Company
• Nationwide Boiler
• Powerhouse Equipment & Engineering Co. Inc.
• Burner Combustion
• Babcock Wanson
• Rakhoh Industries Pvt. Ltd.
• Power Mechanical
   

Industrial Boiler Maintenance Industry News:

• In October 2023, Babcock & Wilcox announced that they have secured an $11 million maintenance contract for Newfoundland and Labrador Hydro's Holyrood Thermal Generating Station. The contract covers maintenance of boilers and auxiliary equipment for the 500-megawatt oil-fired power plant. B&W emphasizes safety and excellence in collaboration with union workers for the project, reflecting their extensive experience in plant construction and maintenance across North Americ
   
• In June 2022, Siemens announced that they have acquired Senseye. The company specializes in outcome-oriented predictive maintenance solutions, reducing unplanned downtimes. The acquisition aims to offer scalable Industry solutions, boosting efficiency and sustainability. It is now a Siemens subsidiary, brings advanced technology for machinery health assessment without requiring data science expertise.
   

This industrial boiler maintenance market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD” from 2019 to 2032, for the following segments:

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Market, By Product

• Fire Tube
• Water Tube

Market, By Application

• Food Processing
• Pulp & Paper
• Chemical
• Refinery
• Primary Metal
• Others

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
  • Egypt
  • Nigeria
  • South Africa
• Latin America
  • Argentina
  • Chile
  • Brazil