Press Releases

As Demand Increases, Industrial Boiler Markets Boom

December 05, 2018

WELLESLEY, Mass., Dec. 5, 2018 – Fueled by regulatory changes, necessary replacements for aging and exceptionally old boilers, and a resurgence in baseline industrial growth, the industrial boiler market has seen significant growth in recent years, according to a report by BCC Research.

According to the report Industrial Boilers: Technologies and Developing Markets, industrial boilers are critical to continued global economic production and development as they form a process backbone in nearly all categories of manufacturing and other industries.

Global sales from 2017 to 2018 increased from $12.3 billion to $13.0 billion. The industrial boiler market is expected to surpass $18.2 billion by 2023, growing at a compound annual growth rate (CAGR) of 6.9%.

Research Highlights

  • Boiler technologies that produce hot water as well as steam will see steady growth through the forecast period. Steam-producing boilers will continue to carry a much larger share of the global market, but hot water boilers will grow faster on a percentage basis.
  • The market is driven by nationwide regulations on toxic air contaminants and other air pollutants from boilers in the U.S., as well as required reductions in greenhouse gas emissions across Europe and, increasingly, Asia.
  • Lower natural gas prices, along with federal level policies that support reinvestment in U.S. industries, are driving the U.S. industrial boiler markets.

Regulations continue to be an important driver for the development and deployment of new boiler emissions control technologies and higher efficiency boilers,” said  Robert Eckard, the report’s author. “In this way, regulations are increasingly important in informing market and industry trends globally. While regulations and regulatory enforcement vary from region to region, regulatory structures are critically important in North America and Europe and are becoming increasingly important across much of Asia.”

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Industrial Boilers: Technologies and Developing Markets( MFG033C )
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