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Water Tube Industrial Boiler Market Size

Report ID: GMI2949
Published Date: May 2023
Report Format: PDF

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Water Tube Industrial Boiler Market Size

Water Tube Industrial Boiler Market size surpassed USD 7.4 billion in 2023 and is anticipated to depict 4.8% CAGR from 2024 to 2032.

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The global boiler market is likely to cross USD 180 billion by 2032. The increasing demand for energy-efficient heating systems and the rapid industrialization in developing economies will propel the industry growth. The expansion of industrial infrastructure along with ongoing efforts to conserve energy and adopt efficient steam generation systems, will enhance the water tube industrial boiler industry. Furthermore, the positive attitude towards adopting low emission heating systems and gradually replacing conventional units will drive business outlook.

Water Tube Industrial Boiler Market Report Attributes
Report Attribute	Details
Base Year:	2023
Water Tube Industrial Boiler Market Size in 2023:	USD 7.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 11.3 Billion
Historical Data for:	2019 to 2023
No. of Pages:	650
Tables, Charts & Figures:	1,572
Segments covered:	Capacity, Application, Technology, Fuel
Growth Drivers:	Positive outlook toward chemical & food processing industries Rapid industrialization across emerging nations Surging replacement of conventional boilers Implementation of stringent emission regulations
Pitfalls & Challenges:	High installation cost

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Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of water tube industrial boiler exceeded USD 7.4 billion in 2023 and will register 4.8% CAGR during 2023-2032, propelled by the increasing demand for energy-efficient heating systems and the rapid industrialization in developing economies.

The condensing segment will witness a growth rate of 5% between 2023 and 2032 as a result of supportive government regulations and incentives promoting the use of energy-efficient technologies.

The water tube industrial boiler industry size from the pulp & paper segment was valued at USD 500 million in 2022 owing to increasing demand for paper products including packaging materials, tissue papers, and printing papers.

North America water tube industrial boiler sector is slated to surpass USD 2 billion by 2032 on account of surging demand for petroleum products, coupled with the flourishing food processing industry in the region.

Major companies operating in North America water tube industrial boiler industry are Babcock & Wilcox Enterprises, Cleaver-Brooks, Thermax Limited, Aaron Equipment Company, Hurst Boiler & Welding Co., Kawasaki Thermal Engineering, Clayton Industries and others.