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North America Industrial Boiler Market Size
North America Industrial Boiler Market size in 2023 was valued at USD 1.9 billion and is estimated to grow at a rate of 4.4% from 2024 to 2032, owing to the strong development of industrial facilities and substantial investments from both public and private entities. For instance, in 2023, the industrial manufacturing sector across the Mexico has become a key hub for foreign investment.
Industrial boilers are essential equipment in various industries for providing the necessary steam and hot water for diverse applications including power generation, heating, and industrial processes. These boilers are designed to handle high pressures and temperatures, making them crucial for operations in sectors comprising of manufacturing, chemical processing, food and beverage production. Modern industrial boilers are engineered for efficiency, reliability, and sustainability, incorporating advanced technologies to minimize energy consumption and reduce emissions. The robust construction and sophisticated control systems ensure that industrial boilers meet stringent safety and environmental standards, contributing to the overall productivity and sustainability of industrial facilities.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 1.9 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.4% |
| 2032 Value Projection: | USD 2.8 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Product, Capacity, Application, Technology, Fuel & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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North America Industrial Boiler Market Trends
The industrial boiler industry is set to benefit from the rising adoption of advanced heating systems and supportive government policies focused on reducing carbon emissions. Moreover, the growing need to replace old boilers that have surpassed their average operating life presents a promising business opportunity. Significant focus on developing energy-efficient and environmentally friendly boilers along with implementation of stricter emissions regulations to combat climate change will favor the industry scenario.
North America Industrial Boiler Market Analysis
The water tube industrial boiler market will reach over USD 1.5 billion by 2032. This growth is mainly fueled by continuous investments in the expansion of manufacturing facilities and the rise of industrialization primarily across the developing nations. Additionally, the increasing preference for efficient units that provide safe operations, high efficiency, and low maintenance will drive the broader adoption of these products. Supportive government reforms promoting the installation of energy-efficient boilers coupled with the ongoing replacement of existing systems will contribute to business expansion.
The gas fired industrial boiler market size will witness growth rate of over 4.5% through 2032. The increasing demand for water heating in various sectors including food and beverage, pulp and paper, and other related industrial industries is anticipated to drive the adoption of these products. Additionally, the widespread use of these units for steam generation and process heating in small and medium-scale industries will further contribute to the upward trajectory. Additionally, the current competitive prices of natural gas in line with a growing preference for sustainable solutions, will drive the deployment of these products.
The U.S. industrial boiler market is set to surpass USD 2 billion by 2032. The shift in dietary preferences toward high-value-added foods including meats and chocolates along with changing consumer lifestyles has created favorable conditions for the adoption of these units. Additionally, the increased demand for packaged food along with increasing disposable income enhance the industry landscape. Moreover, the rising need for reliable and cost-effective heating systems in industrial facilities will further contribute to a positive business outlook.
Increasing focus on reducing carbon emissions in line with increasing demand for space heating will propel the Canada industrial boiler market. Additionally, the implementation of national benchmarks for monitoring boiler emissions will encourage the replacement of conventional boiler units. This growth can be attributed to the positive outlook for the chemical, refining, and petrochemical sectors supported by favorable policies aimed at reducing carbon footprints.
North America Industrial Boiler Market Share
IHI Corporation is one of the leading providers of comprehensive solutions across various industries, including energy, aerospace, and industrial machinery. In the realm of industrial boilers, the company excels in designing and manufacturing advanced boiler systems tailored to meet diverse industrial needs. These systems incorporate cutting-edge technologies to ensure high efficiency, reliability, and environmental sustainability. Its commitment to innovation is reflected in its continuous development of next-generation boilers that comply with stringent global emissions standards.
As a trusted partner in the global market, IHI Corporation continues to leverage its expertise and extensive research capabilities to deliver state-of-the-art boiler solutions that contribute to the efficiency and sustainability goals of its clients worldwide.
North America Industrial Boiler Market Companies
The key industry players include:
- AERCO
- Babcock & Wilcox Enterprises, Inc.
- Burnham Commercial Boilers
- Clayton Industries
- Cleaver-Brooks
- Doosan Corporation
- Groupe Atlantic
- Hurst Boiler & Welding Co, Inc.
- IHI Corporation
- John Cockerill
- John Wood Group PLC
- Mitsubishi Heavy Industries, Ltd.
- Miura America Co., Ltd.
- Rentech Boiler Systems, Inc.
- Sofinter S.p.a
- The Fulton Companies
- Thermax Limited
- VIESSMANN
North America Industrial Boiler Market News
- In February 2024, Miura, is excited to unveil the Miura Care Program, a comprehensive preventative boiler maintenance initiative developed in collaboration with Hartford Steam Boiler (HSB). The Miura Care Program is meticulously designed to deliver a seamless and comprehensive maintenance experience, ensuring optimal protection for your boiler system and offering unparalleled peace of mind. Moreover, Miura along with HSB, to offer an exclusive Boiler availability guarantee, further enhancing the value proposition.
- In November 2022, Babcock & Wilcox announced that its B&W Environmental and B&W Thermal business segments secured a contract worth over USD 24 million. This contract involved the provision of two industrial package boilers, accompanying auxiliary equipment, and advanced emissions control technologies for a petroleum refinery located in the country. Under this agreement, B&W Thermal will be responsible for the design and supply of two package boilers, along with burners, economizers, and other essential equipment for the refinery project. Additionally, B&W Environmental will supply two selective catalytic reduction (SCR) systems aimed at controlling nitrogen oxide (NOx) emissions. Moreover, this contract has proliferated its strong foothold along with expansion of its boiler portfolio in U.S.
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 Million” from 2021 to 2032, for the following segments:
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Market, By Product
- Fire-Tube
- 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
- By Application
- Food Processing
- Pulp & Paper
- Chemical
- Refinery
- Primary Metal
- Others
- By Technology
- Condensing
- Non-Condensing
- By Fuel
- Natural Gas
- Oil
- Coal
- Others
- By Capacity
- Water-Tube
- 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
- By Application
- Food Processing
- Pulp & Paper
- Chemical
- Refinery
- Primary metal
- Others
- By Technology
- Condensing
- Non-Condensing
- By Fuel
- Natural Gas
- Oil
- Coal
- Others
- By Capacity
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
Frequently Asked Questions (FAQ) :