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North America Steam Boiler Market Size
North America Steam Boiler Market size was valued at USD 2.6 billion in 2023 and is estimated to grow at a CAGR of 5.6% between 2024 and 2032. Extensive investments by the public & private players across the healthcare industry along with flourishing pharmaceutical industry will positively sway the industry growth. For instance, in 2022, the total investments in healthcare industry crossed a mark of USD 4 billion across the New York.
A steam boiler is a heating device that utilizes different types of fuels to produce heat. The fundamental concept of a steam boiler includes a heat source, and a heat transfer medium, usually heat exchanger which allows water to reach its boiling point. Continued advancements in boiler design facilitating the utilization of natural gas, shale gas, and electricity as primary fuel sources are poised to propel industry expansion.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 2.6 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.6% |
| 2032 Value Projection: | USD 4.2 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 320 |
| Segments covered: | Capacity, Fuel, Technology, Application & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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North America Steam Boiler Market Trends
Increasing applicability of these units for providing space heating across various commercial & industrial establishments will fuel the industry scenario. Rising disposable income along with improving living standard of the consumers primarily across cold climatic regions will propel the boiler market. The growing focus on reducing the aftereffects of GHG emissions is significantly increasing the demand for energy-efficient steam boilers.
North America Steam Boiler Market Analysis
The ≤ 10 MMBtu/hr steam boiler market will reach over USD 1 billion by 2032. Introduction of stringent emission norms to deploy advance heating systems coupled with increasing urbanization rate will favor the business scenario. Surging investment by the public traded firms to expand their work premises will significantly fuel the product deployment. Moreover, government & private institutions are concerning to offer space heating facilities in the buildings, which in turn will propel the technological demand.
The industrial boiler market size will predicted to record a CAGR of around 5% through 2032. Policy interventions, environmental regulations, trade facilitation, and technological advancements are some of the key tools through which respective governments are enabling their industries to meet the growing domestic demand and enter international markets. This has led to growing FDI inflows and increased domestic investments in new industrial facilities, resulting in an elevated demand for these boilers.
The U.S. boiler market is set to surpass USD 3 billion by 2032. Continuous surge in the pipeline for manufacturing plants in line with ongoing government schemes toward the development of large-scale projects and favorable regulations & policies will energize the business dynamics. The rising space heating demand, low winter temperatures along with ongoing upgradation and expansion of existing commercial facilities will further complement the industry growth.
North America Steam Boiler Market Share
Miura America specializes in the production of boilers, offering innovative solutions for various industrial and commercial applications. Its boilers are known for their compact design, which allows for space-saving installations. This feature is particularly beneficial for facilities with limited space or those seeking to optimize their layout. The company’s systems are engineered for optimal energy efficiency, helping businesses reduce their carbon footprint and operational costs.
North America Steam Boiler Market Companies
The key industry players include:
- Atlantic Boilers
- Babcock & Wilcox Enterprises, Inc.
- Babcock Wanson
- Bosch Industriekessel GmbH
- Clayton Industries
- Cleaver-Brooks
- Cochran
- Doosan Heavy Industries & Construction
- FERROLI S.p.A
- Forbes Marshall
- Hurst Boiler & Welding Co, Inc.
- John Wood Group PLC
- Miura America Co., LTD.
- PARKER BOILER
- The Fulton Companies
- Thermax Limited
- VIESSMANN
- Weil-McLain
North America Steam Boiler Industry News
- In January 2023, Clayton Industries has implemented 600 horsepower E series boilers along with tailored steam solutions for their corrugation facility. The E series boiler lineup spans from 150 to 2,000 boiler horsepower, providing a wide range of options. Moreover, it incorporates advanced functionalities such as skid mounting, containerization, fired steam generators, and fully modulated automatic controls. This initiative is poised to strengthen the company's footprint throughout the region.
- In December 2022, Babcock Wanson has introduced the VAP EL electric steam boiler series, featuring power capacities spanning from 16 kW to 360 kW. These boilers provide precise steam pressure control ranging from 4.5 to 8.5 barg, alongside multi-stage and fully modulating power input for enhanced efficiency. They offer remote monitoring capabilities for operational oversight and boast straightforward installation procedures. Operating without reliance on fossil fuels eliminates the need for chimneys, fuel storage, or intricate gas piping systems. Furthermore, all models come equipped with a Babcock Wanson factory-tested control system, ensuring straightforward and dependable operation.
The North America steam boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units”, “MMBTU/hr” & “USD Million” from 2019 to 2032, for the following segments:
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Market, By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
Market, By Fuel
- Natural Gas
- Oil
- Coal
- Others
Market, By Technology
- Condensing
- Non-Condensing
Market, By Application
- Commercial
- By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
- By Fuel
- Natural Gas
- Oil
- Coal
- Others
- By Technology
- Condensing
- Non-Condensing
- By Capacity
- Industrial
- By Capacity
- ≤ 10 MMBtu/hr
- > 10 - 50 MMBtu/hr
- > 50 - 100 MMBtu/hr
- > 100 - 250 MMBtu/hr
- > 250 MMBtu/hr
- By Fuel
- Natural Gas
- Oil
- Coal
- Others
- By Technology
- Condensing
- Non-Condensing
- By Capacity
The above information has been provided for the following countries:
- U.S.
- Canada
- Mexico
Frequently Asked Questions (FAQ) :