Industrial Boilers Market Size
Market Size in USD Bn
CAGR4.7%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 4.7% |
| Market Concentration | Medium |
| Major Players | AMEC Foster Wheeler PLC, Siemens AG, Thermax Limited, Harbin Electric Corporation, Bharat Heavy Electricals Limited and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Industrial Boilers Market Analysis
The industrial boilers market is estimated to be valued at USD 17.46 Bn in 2024 and is expected to reach USD 24.15 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. The rising demand for steam and hot water across various industries such as chemical, refinery, paper, and food processing is driving the industrial boilers market.