According to Markntel Advisors Report, Boiler Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

A boiler is known as a closed vessel or surface that is used to heat and transfer fluid or generate steam. Steam or heat is used to fulfill different purposes such as processing food items, water heating, sanitation, and generating electricity. Boilers are of different types, including hot water boilers, gas boilers, steam water boilers, and other conventional or regular boilers. As the name suggests some are used to heat the water or make steam out of water. Some traditional boilers used oil, natural gas, and coal as fuel. Where these days’ boilers work using electric energy. Also, boilers are used in different industries such as chemicals and petrochemicals, the food processing industry, pulp & paper, metals & mining, and power generation, etc.

 

Boiler Market Research Report & Summary:

The Global Boiler Market size was valued at around USD 110 billion in 2023 & is estimated to grow at a CAGR of around 4.2% during the forecast period, i.e., 2024-30.                      

Time Period Captured in the Report:

• Historical Years: 2019-2022
• Base Years: 2023
• Forecast Years: 2024-2030

Who are the Key Players Operating in the Boiler Market?

The top companies of the Boiler Market ruling the industry are: 

Daikin Industries, Ltd., Ariston Thermo SpA, Robert Bosch Gmbh, Mitsubishi   Power, Thermax Ltd., Sofinter Group, Cleaver Brooks Inc., BDR Thermea Group,   Byworth Boilers Ltd., Andritz AG, Harbin Electric Company Ltd., IHI Corporation,   Weil-McLain, PB Heat LLC, Valliant Group, Others

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What is included in Boiler Market Segmentation?

The Boiler Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Boiler Type
  • Hot Water Boilers- Market Size & Forecast 2019-2030, Thousand Units
  • Gas Boilers- Market Size & Forecast 2019-2030, Thousand Units
  • Steam Water Boilers- Market Size & Forecast 2019-2030, Thousand Units
  • Others (Conventional Boilers, Regular Boilers, etc.)- Market Size & Forecast 2019-2030, Thousand Units
• By Fuel Type
  • Natural Gas- Market Size & Forecast 2019-2030, Thousand Units
  • Coal- Market Size & Forecast 2019-2030, Thousand Units
  • Oil- Market Size & Forecast 2019-2030, Thousand Units
  • Electric– Market Size & Forecast 2019-2030, Thousand Units
• By Tube Type
  • Fire tube- Market Size & Forecast 2019-2030, Thousand Units
  • Water tube- Market Size & Forecast 2019-2030, Thousand Units
• By Horsepower Capacity
  • 10-150 BHP- Market Size & Forecast 2019-2030, Thousand Units
  • 151-300 BHP- Market Size & Forecast 2019-2030, Thousand Units
  • 301- 600 BHP- Market Size & Forecast 2019-2030, Thousand Units
  • >600 BHP- Market Size & Forecast 2019-2030, Thousand Units
• By End User
  • Residential- Market Size & Forecast 2019-2030, Thousand Units
  • Commercial- Market Size & Forecast 2019-2030, Thousand Units
  • Industrial- Market Size & Forecast 2019-2030, Thousand Units
    • Chemicals and Petrochemicals
    • Food Processing Industry
    • Pulp & Paper
    • Metals & Mining
    • Power Generation
    • Others (textile industry, Paper industry, etc.)
• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific- Market Size & Forecast 2019-2030, Thousand Units

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Boiler Market Driver:

Rising Focus on Industrialization & Urbanization Across the Globe – Boilers play an important role in industrial processes such as power generation, generating steam, and hot water, rapid industrialization and urbanization across the globe are driving the market for boilers. Rising advancements across the major industries such as chemicals and petrochemicals, the textile industry, the food processing industry, the paper industry, mining, and power generation, etc., are continuously expanding the market of boilers as boilers help in most industrial activities.

Further, increasing urbanization is also driving the growth of the boiler industry because boilers are extensively used in residential units for various activities. Also, with increasing urban settlements, the demand for boilers is increasing in the market to fulfill various household purposes such as heating, generating steam, boiling fluids, and space heating.

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