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Steam Boiler Market Size & Forecast

Historic: 2022-2024 Base Year: 2025 Forecast: 2026–2033
US$ 16.13 Billion
Market Size 2025 · Base Year
US$ 29.13 Billion
Projected Market Size by 2033
7.67%
CAGR · 2026–2033
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BMIPUB00039441 56+ Countries Covered 10 Major Companies Profiled PEST & SWOT Analysis Competitive Heat Map
At a Glance

Report Coverage

56 +
Countries
56+ countries across North America, Europe, Asia-Pacific, South and Central America, Middle East and Africa
12
Year Assessment
Comprehensive Market Analysis Covering 3 Years of Historical Data (2022–2024), Base Year (2025), and 8-Year Forecast (2026–2033)
10 +
Major Players
Major companies profiled including Mitsubishi Heavy Industries, Ltd., Babcock & Wilcox Enterprises, Inc., Thermax Limited, Siemens Energy AG, Bharat Heavy Electricals Limited
350
Report Pages
Pages of deep-dive analysis with PEST, SWOT, competitive heat maps and datasets
What's Fueling Growth

Market Drivers

  • Industrial process heating demand drives steam boiler adoption

  • Rising energy efficiency regulations boost boiler modernization investments

  • Expanding power generation sector increases steam boiler demand

Where Growth Opportunities Exist

Key Opportunities

  • Emerging economies present untapped industrial boiler infrastructure opportunities

  • Decarbonization retrofit solutions create significant revenue generation potential

  • Renewable fuel integration opens new equipment demand avenues

What Could Slow It Down

Market Restraints

  • High installation and maintenance costs limit adoption

  • Stringent emission regulations increase manufacturing compliance costs significantly

  • Skilled technician shortage restricts efficient system operation maintenance

Market Segmentation

Coverage by Segment

Type

Water Tube Boiler
Fire Tube Boiler

Fuel

Coal-fired Steam Boiler
Gas-fired Steam Boiler
Electric Steam Boiler

Pressure

Low-Pressure Boiler
Medium-Pressure Boiler
High-Pressure Boiler

End User Industry

Power Generation
Process Industry
Oil and Gas
Geographic Breakdown

Regional Intelligence

NA North America
EU Europe
APAC Asia-Pacific
SCA South & Central America
MEA Middle East & Africa
Competitive Landscape

Major Market Players

Listed for reference — companies are not ranked in any particular order.

Mitsubishi Heavy Industries, Ltd.
Babcock & Wilcox Enterprises, Inc.
Thermax Limited
Siemens Energy AG
Bharat Heavy Electricals Limited
Doosan Enerbility Co., Ltd.
John Cockerill
ANDRITZ AG
Alfa Laval AB
Robert Bosch GmbH
What's Inside

Report Scope & Deliverables

Market Size 2025 US$ 16.13 Billion
Market Size 2033 US$ 29.13 Billion
CAGR 2026–2033 7.67%
Segments By Type (Water Tube Boiler, Fire Tube Boiler)  |  By Fuel (Coal-fired Steam Boiler, Gas-fired Steam Boiler, Electric Steam Boiler)  |  By Pressure (Low-Pressure Boiler, Medium-Pressure Boiler, High-Pressure Boiler)
Geographies North America (US, Canada, Mexico)  ·  Europe (Germany, Italy, France, U.K., Spain, Belgium, Netherlands, Luxembourg, Norway, Finland, Denmark, Sweden, Switzerland, Austria, Greece, Portugal, Russia, Poland, Romania, Czech Republic, Ukraine, Slovakia, Bulgaria)  ·  Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Taiwan, Bangladesh)  ·  South and Central America (Brazil, Argentina, Chile, Colombia, Peru)  ·  Middle East and Africa (Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Qatar, Oman, Turkiye, South Africa, Egypt, Nigeria, Algeria)
Deliverables Historical analysis with CAGR · PEST & SWOT analysis · Market Size at Global, Regional, and Country Levels · Competitive heat map · Company profiles · Excel dataset
Report Code BMIPUB00039441
Lead Analyst Shivani Singh — Consultant, Research & Consulting · View Profile
With Full Report Access

Gain actionable insights with 350 pages of in-depth Steam Boiler Market, including historical trends, 8-year market forecasts, SWOT analysis, competitive landscapes, and downloadable Excel datasets in a single comprehensive package.