Steam Boiler System Market - Forecasts from 2025 to 2030
Description
Steam Boiler System Market Size:
The Steam Boiler System Market is anticipated to rise from USD 17.758 billion in 2025 to USD 22.236 billion by 2030, with a 4.60% CAGR.
The steam boiler system market is a cornerstone of global industrial and energy infrastructure, powering electricity generation, process heating, and diverse applications in oil & gas, chemicals, and power sectors. These systems convert thermal energy from fuels like coal, oil, natural gas, and biomass into steam, driving turbines or supporting industrial processes. The market is segmented by product (fire tube, water tube, electric, condensing, superheater boilers), fuel (coal, oil, gas, biomass), pressure (high, medium, low), end-user (oil & gas, chemicals, power generation), and geography (North America, South America, Europe, Asia Pacific, Middle East and Africa).
This research examines current trends in demand, supply, and sales, alongside recent developments shaping the market. It provides a comprehensive analysis of key drivers, restraints, and opportunities, detailing industry trends, policies, and regulations across regions to offer stakeholders a thorough understanding of the regulatory framework and market dynamics.
Competitive intelligence identifies major players and their revenue contributions, derived from secondary research, including industry studies, analyst reports, investor presentations, press releases, and journals. Market size was determined using bottom-up and top-down methodologies, validated with stakeholder inputs from the global value chain. Comprehensive market engineering integrated multi-source data and proprietary datasets via triangulation for accurate forecasting. Insights are presented through narratives, charts, and graphics for efficient comprehension. The global market, valued at approximately USD 18 billion in 2025, is projected to reach USD 25 billion by 2030 at a 4.5% CAGR. Key players include Bosch Industrial Boilers, Babcock & Wilcox Enterprises, Inc., and General Electric.
Key Highlights
Rising energy demand and industrial expansion in emerging economies fuel market growth. Asia Pacific leads, driven by coal and power generation in China and India. Natural gas and high-pressure boilers dominate due to efficiency and power needs. High costs and environmental regulations challenge adoption for smaller enterprises.
Growth Drivers
Global electricity demand, up 3.4% in 2024, drives boiler installations, particularly in power generation. Industrial growth in Asia Pacific, with India’s chemical sector expanding 8% in 2024, boosts demand. Transition to sustainable fuels like biomass, backed by EU’s €2 billion investment in 2023, supports cleaner boilers. Innovations, such as Rialto’s 2024 RESIDENCE HM condensing boiler with 15% efficiency gains, enhance adoption.
Restraints
High capital and maintenance costs deter smaller firms. Stringent regulations, like the EU’s Industrial Emissions Directive, raise compliance costs for fossil fuel boilers. Competition from renewables like solar and wind reduces fossil fuel boiler reliance.
Segmentation Analysis
By Product: Water tube boilers lead with 35% share in 2025, ideal for high-pressure power plants. Condensing boilers grow rapidly for efficiency.
By Fuel: Natural gas holds 34%, emitting 50% less CO2 than coal, supported by U.S. gas supply of 29.2 trillion cubic feet in 2024.
By Pressure: High-pressure boilers dominate at 40%, critical for 80% of global power plants.
By End-User: Power generation commands 45%, with 70% of global electricity from steam turbines.
Regional Analysis
Asia Pacific holds 42% of revenue in 2025, led by China’s 4.8 billion metric tons coal consumption and India’s 7% power capacity growth in 2024. North America, with 25% share, benefits from U.S. chemical investments of $90 billion. Europe, at 20%, emphasizes biomass, with Sweden’s 90% biofuel boiler adoption.
Key Developments
In January 2024, Rialto launched the RESIDENCE HM condensing boiler, boosting efficiency by 15%. In May 2023, Nouryon and Adven installed a biofuel-based boiler in Sweden, cutting CO2 by 90%.
This report equips experts with insights into trends, regulations, and competition, highlighting opportunities in sustainable fuels and industrial growth while addressing cost and regulatory challenges. Rigorous methodology ensures reliable projections for strategic decision-making in this critical sector.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Segmentation
By Product Type
Fire Tube Boiler
Water Tube Boiler
Electric Boiler
Others
By Fuel Type
Coal
Oil
Biomass
Other
By Pressure
High-Pressure
Medium-Pressure
Low-Pressure
By End-User
Oil & Gas
Chemicals
Power & Energy
Food & Beverage
Manufacturing
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Taiwan
Others
The Steam Boiler System Market is anticipated to rise from USD 17.758 billion in 2025 to USD 22.236 billion by 2030, with a 4.60% CAGR.
The steam boiler system market is a cornerstone of global industrial and energy infrastructure, powering electricity generation, process heating, and diverse applications in oil & gas, chemicals, and power sectors. These systems convert thermal energy from fuels like coal, oil, natural gas, and biomass into steam, driving turbines or supporting industrial processes. The market is segmented by product (fire tube, water tube, electric, condensing, superheater boilers), fuel (coal, oil, gas, biomass), pressure (high, medium, low), end-user (oil & gas, chemicals, power generation), and geography (North America, South America, Europe, Asia Pacific, Middle East and Africa).
This research examines current trends in demand, supply, and sales, alongside recent developments shaping the market. It provides a comprehensive analysis of key drivers, restraints, and opportunities, detailing industry trends, policies, and regulations across regions to offer stakeholders a thorough understanding of the regulatory framework and market dynamics.
Competitive intelligence identifies major players and their revenue contributions, derived from secondary research, including industry studies, analyst reports, investor presentations, press releases, and journals. Market size was determined using bottom-up and top-down methodologies, validated with stakeholder inputs from the global value chain. Comprehensive market engineering integrated multi-source data and proprietary datasets via triangulation for accurate forecasting. Insights are presented through narratives, charts, and graphics for efficient comprehension. The global market, valued at approximately USD 18 billion in 2025, is projected to reach USD 25 billion by 2030 at a 4.5% CAGR. Key players include Bosch Industrial Boilers, Babcock & Wilcox Enterprises, Inc., and General Electric.
Key Highlights
Rising energy demand and industrial expansion in emerging economies fuel market growth. Asia Pacific leads, driven by coal and power generation in China and India. Natural gas and high-pressure boilers dominate due to efficiency and power needs. High costs and environmental regulations challenge adoption for smaller enterprises.
Growth Drivers
Global electricity demand, up 3.4% in 2024, drives boiler installations, particularly in power generation. Industrial growth in Asia Pacific, with India’s chemical sector expanding 8% in 2024, boosts demand. Transition to sustainable fuels like biomass, backed by EU’s €2 billion investment in 2023, supports cleaner boilers. Innovations, such as Rialto’s 2024 RESIDENCE HM condensing boiler with 15% efficiency gains, enhance adoption.
Restraints
High capital and maintenance costs deter smaller firms. Stringent regulations, like the EU’s Industrial Emissions Directive, raise compliance costs for fossil fuel boilers. Competition from renewables like solar and wind reduces fossil fuel boiler reliance.
Segmentation Analysis
By Product: Water tube boilers lead with 35% share in 2025, ideal for high-pressure power plants. Condensing boilers grow rapidly for efficiency.
By Fuel: Natural gas holds 34%, emitting 50% less CO2 than coal, supported by U.S. gas supply of 29.2 trillion cubic feet in 2024.
By Pressure: High-pressure boilers dominate at 40%, critical for 80% of global power plants.
By End-User: Power generation commands 45%, with 70% of global electricity from steam turbines.
Regional Analysis
Asia Pacific holds 42% of revenue in 2025, led by China’s 4.8 billion metric tons coal consumption and India’s 7% power capacity growth in 2024. North America, with 25% share, benefits from U.S. chemical investments of $90 billion. Europe, at 20%, emphasizes biomass, with Sweden’s 90% biofuel boiler adoption.
Key Developments
In January 2024, Rialto launched the RESIDENCE HM condensing boiler, boosting efficiency by 15%. In May 2023, Nouryon and Adven installed a biofuel-based boiler in Sweden, cutting CO2 by 90%.
This report equips experts with insights into trends, regulations, and competition, highlighting opportunities in sustainable fuels and industrial growth while addressing cost and regulatory challenges. Rigorous methodology ensures reliable projections for strategic decision-making in this critical sector.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Segmentation
By Product Type
Fire Tube Boiler
Water Tube Boiler
Electric Boiler
Others
By Fuel Type
Coal
Oil
Biomass
Other
By Pressure
High-Pressure
Medium-Pressure
Low-Pressure
By End-User
Oil & Gas
Chemicals
Power & Energy
Food & Beverage
Manufacturing
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Taiwan
Others
Table of Contents
143 Pages
- 1. EXECUTIVE SUMMARY
- 2. MARKET SNAPSHOT
- 2.1. Market Overview
- 2.2. Market Definition
- 2.3. Scope of the Study
- 2.4. Market Segmentation
- 3. BUSINESS LANDSCAPE
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Porter’s Five Forces Analysis
- 3.5. Industry Value Chain Analysis
- 3.6. Policies and Regulations
- 3.7. Strategic Recommendations
- 4. TECHNOLOGICAL OUTLOOK
- 5. STEAM BOILER SYSTEM MARKET BY PRODUCT TYPE
- 5.
- 1. Introduction
- 5.2. Fire Tube Boiler
- 5.3. Water Tube Boiler
- 5.4. Electric Boiler
- 5.5. Others
- 6. STEAM BOILER SYSTEM MARKET BY FUEL TYPE
- 6.
- 1. Introduction
- 6.2. Coal
- 6.3. Oil
- 6.4. Biomas
- 6.5. Other
- 7. STEAM BOILER SYSTEM MARKET BY PRESSURE
- 7.
- 1. Introduction
- 7.2. High-Pressure
- 7.3. Medium-Pressure
- 7.4. Low-Pressure
- 8. STEAM BOILER SYSTEM MARKET BY END-USER
- 8.
- 1. Introduction
- 8.2. Oil & Gas
- 8.3. Chemicals
- 8.4. Power & Energy
- 8.5. Food & Beverage
- 8.6. Manufacturing
- 8.7. Others
- 9. STEAM BOILER SYSTEM MARKET BY GEOGRAPHY
- 9.
- 1. Introduction
- 9.2. North America
- 9.2.1. USA
- 9.2.2. Canada
- 9.2.3. Mexico
- 9.3. South America
- 9.3.1. Brazil
- 9.3.2. Argentina
- 9.3.3. Others
- 9.4. Europe
- 9.4.1. Germany
- 9.4.2. France
- 9.4.3. United Kingdom
- 9.4.4. Spain
- 9.4.5. Others
- 9.5. Middle East and Africa
- 9.5.1. Saudi Arabia
- 9.5.2. UAE
- 9.5.3. Israel
- 9.5.4. Others
- 9.6. Asia Pacific
- 9.6.1. China
- 9.6.2. India
- 9.6.3. Japan
- 9.6.4. South Korea
- 9.6.5. Indonesia
- 9.6.6. Thailand
- 9.6.7. Taiwan
- 9.6.8. Others
- 10. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 10.1. Major Players and Strategy Analysis
- 10.2. Market Share Analysis
- 10.3. Mergers, Acquisitions, Agreements, and Collaborations
- 10.4. Competitive Dashboard
- 11. COMPANY PROFILES
- 11.1. Thermax Limited
- 11.2. General Electric
- 11.3. Alfa Laval AB
- 11.4. Bosch Industriekessel GmbH
- 11.5. Cleaver-Brooks
- 11.6. Byworth Boilers
- 11.7. Forbes Marshall
- 11.8. Parker Boiler
- 11.9. CARRIER COMPANY
- 11.10. MIURA CO., LTD.
- 11.11. Mitsubishi Heavy Industries, Ltd.
- 11.12. Doosan Corporation
- 12. APPENDIX
- 12.1. Currency
- 12.2. Assumptions
- 12.3. Base and Forecast Years Timeline
- 12.4. Key benefits for the stakeholders
- 12.5. Research Methodology
- 12.6. Abbreviations
- LIST OF FIGURES
- LIST OF TABLES
Pricing
Currency Rates
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