Industrial Boilers Market is segmented By Type (Water Tube, Fire Tube), By Application (Chemicals & ...
Market Size in USD Bn
CAGR4.9%
Study Period | 2025-2032 |
Base Year of Estimation | 2024 |
CAGR | 4.9% |
Market Concentration | Medium |
Major Players | AMEC Foster Wheeler PLC, Siemens AG, Thermax Limited, Harbin Electric Corporation, Bharat Heavy Electricals Limited and Among Others |
The industrial boilers market is estimated to be valued at USD 18.32 Bn in 2025 and is expected to reach USD 25.61 Bn by 2032, growing at a compound annual growth rate (CAGR) of 4.9% from 2025 to 2032. 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.