Boilers and Steam Generators Market Size, Share, Growth, and Industry Analysis, Types (Pulverized Coal Fired, Fluidized Bed, Packaged, Heat Recovery Steam Generators, Others), Applications (Foods, Others), and Regional Insights and Forecast to 2035
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Boilers and Steam Generators Market Size
The Global Boilers and Steam Generators Market size was USD 2.70 Billion in 2025 and is projected to touch USD 2.76 Billion in 2026 to USD 2.82 Billion in 2027 and reach USD 3.33 Billion by 2035, exhibiting a CAGR of 2.09% during the forecast period. Around 64% of demand comes from industrial sectors, while nearly 58% is driven by manufacturing activities.
The US Boilers and Steam Generators Market is growing steadily with rising demand for energy-efficient systems. Around 65% of industries are upgrading old equipment. Nearly 59% of demand comes from manufacturing and food sectors, while about 53% of companies focus on reducing energy consumption.
Key Findings
- Market Size: Valued at $2.70Bn in 2025, projected to touch $2.76Bn in 2026 to $3.33Bn by 2035 at a CAGR of 2.09%.
- Growth Drivers: 64% industrial demand, 60% efficiency focus, 58% manufacturing growth, 54% technology adoption.
- Trends: 60% automation use, 56% compact systems, 52% eco-friendly shift, 48% digital integration.
- Key Players: GE, ABB, Caterpillar, Bosch, Atlas Copco.
- Regional Insights: North America 27%, Europe 25%, Asia-Pacific 36%, Middle East & Africa 12% share.
- Challenges: 52% cost issues, 48% regulations, 45% maintenance costs, 42% adoption barriers.
- Industry Impact: 63% efficiency gain, 58% energy savings, 54% performance improvement, 50% sustainability focus.
- Recent Developments: 30% capacity growth, 28% innovation, 26% performance boost, 24% efficiency increase.
The Boilers and Steam Generators Market continues to expand as industries focus on efficiency, sustainability, and advanced technologies.
The Boilers and Steam Generators Market is also benefiting from increasing industrial activities, with nearly 57% of companies focusing on upgrading systems and around 53% investing in advanced technologies.
Boilers and Steam Generators Market Trends
The Boilers and Steam Generators Market is showing steady growth as industrial demand for energy-efficient heating systems continues to rise. Around 66% of industrial facilities rely on boilers and steam generators for core operations such as heating, processing, and power generation. Nearly 61% of manufacturing industries use steam-based systems for production processes, especially in food and chemical sectors. About 58% of companies are shifting toward energy-efficient systems to reduce operational costs and emissions. The Boilers and Steam Generators Market is also influenced by growing industrial automation, with around 54% of facilities integrating advanced control systems. Approximately 52% of demand comes from developing economies where industrialization is expanding rapidly. Around 49% of installations are now focused on upgrading old systems with modern equipment. In addition, nearly 47% of manufacturers are adopting compact and modular boiler designs for flexibility. Environmental concerns are also shaping trends, with about 51% of industries focusing on reducing emissions through improved technology. The Boilers and Steam Generators Market continues to grow as industries prioritize efficiency, sustainability, and reliable energy solutions.
Boilers and Steam Generators Market Dynamics
Growth in industrial infrastructure
The Boilers and Steam Generators Market is seeing strong opportunities due to expanding industrial infrastructure. Nearly 68% of new industrial projects require steam generation systems. Around 62% of manufacturing facilities are upgrading heating systems to improve efficiency. About 57% of industries are investing in modern boiler technologies. Additionally, nearly 53% of growth is driven by industrial expansion in emerging markets.
Rising demand for energy efficiency
The Boilers and Steam Generators Market is driven by the need for energy-efficient systems. Around 65% of industries are focusing on reducing fuel consumption. Nearly 60% of companies are adopting advanced boilers with improved efficiency. About 56% of facilities are replacing outdated systems. This growing demand for efficiency is driving market growth.
RESTRAINTS
"High installation and maintenance costs"
The Boilers and Steam Generators Market faces restraints due to high installation and maintenance costs. Around 52% of companies report high upfront costs for new systems. Nearly 48% of maintenance expenses impact operational budgets. About 45% of small industries face challenges in adopting advanced systems, limiting market growth.
CHALLENGE
"Strict environmental regulations"
The Boilers and Steam Generators Market also faces challenges related to environmental regulations. Around 58% of industries are required to meet strict emission standards. Nearly 50% of companies need to upgrade systems to comply with regulations. About 46% of manufacturers face compliance costs, affecting adoption rates.
Segmentation Analysis
The Boilers and Steam Generators Market is segmented based on type and application, reflecting its wide usage across industrial sectors. The global Boilers and Steam Generators Market size was USD 2.70 Billion in 2025 and is projected to touch USD 2.76 Billion in 2026 to USD 2.82 Billion in 2027 to USD 3.33 Billion by 2035, exhibiting a CAGR of 2.09% during the forecast period [2026-2035]. These segments highlight the role of different boiler technologies and applications in driving demand.
By Type
Pulverized Coal Fired
Pulverized coal fired boilers dominate the Boilers and Steam Generators Market due to their high efficiency in large-scale operations. These systems account for nearly 32% of usage. Around 60% of power generation plants rely on this technology for consistent performance and energy output.
Pulverized Coal Fired Market Size, revenue in 2026 was USD 0.88 Billion, representing 32% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, driven by power sector demand.
Fluidized Bed
Fluidized bed boilers account for approximately 24% of the Boilers and Steam Generators Market share. Around 55% of industries prefer this technology due to its fuel flexibility and lower emissions. It is widely used in industries focusing on sustainability.
Fluidized Bed Market Size, revenue in 2026 was USD 0.66 Billion, representing 24% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, supported by environmental benefits.
Packaged
Packaged boilers hold nearly 18% of the market share and are preferred for their compact design and easy installation. Around 52% of small and medium industries use packaged systems for flexibility and cost efficiency.
Packaged Market Size, revenue in 2026 was USD 0.50 Billion, representing 18% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, driven by industrial demand.
Heat Recovery Steam Generators
Heat recovery steam generators account for around 16% of the Boilers and Steam Generators Market share. Nearly 58% of combined cycle power plants use this technology to improve efficiency. It helps reduce energy waste and supports sustainability goals.
Heat Recovery Steam Generators Market Size, revenue in 2026 was USD 0.44 Billion, representing 16% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, supported by efficiency improvements.
Others
This segment holds approximately 10% of the Boilers and Steam Generators Market share. Around 48% of niche applications use specialized boiler technologies. These solutions cater to specific industrial requirements and continue to grow steadily.
Others Market Size, revenue in 2026 was USD 0.28 Billion, representing 10% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, driven by specialized applications.
By Application
Foods
The food industry dominates the Boilers and Steam Generators Market with nearly 54% share. Around 65% of food processing plants rely on steam for cooking, sterilization, and packaging processes. This segment continues to grow due to increasing demand for processed food.
Foods Market Size, revenue in 2026 was USD 1.49 Billion, representing 54% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035.
Others
This segment accounts for approximately 46% of the Boilers and Steam Generators Market share and includes industries such as chemicals, power, and textiles. Around 60% of industrial operations depend on steam systems for various processes.
Others Market Size, revenue in 2026 was USD 1.27 Billion, representing 46% of the total market share. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035.
Boilers and Steam Generators Market Regional Outlook
The Boilers and Steam Generators Market shows balanced growth across regions due to rising industrial demand and energy efficiency needs. The global Boilers and Steam Generators Market size was USD 2.70 Billion in 2025 and is projected to touch USD 2.76 Billion in 2026 to USD 2.82 Billion in 2027 to USD 3.33 Billion by 2035, exhibiting a CAGR of 2.09% during the forecast period. Around 64% of demand comes from industrial applications, while nearly 58% is linked to manufacturing and processing sectors. Regional growth is influenced by industrial expansion, regulatory policies, and technology adoption.
North America
North America holds around 27% of the Boilers and Steam Generators Market share due to advanced industrial infrastructure and high adoption of energy-efficient systems. Nearly 62% of industries in the region are upgrading old boiler systems. Around 57% of demand comes from manufacturing and food processing sectors, supporting stable market growth.
North America Boilers and Steam Generators Market Size, revenue in 2026 was USD 0.75 Billion, representing 27% of the total market. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, driven by modernization and efficiency improvements.
Europe
Europe accounts for approximately 25% of the Boilers and Steam Generators Market share, supported by strict environmental regulations and focus on sustainability. Around 60% of industries are adopting low-emission systems. Nearly 55% of demand is driven by industrial heating applications, while innovation in green technologies continues to support growth.
Europe Boilers and Steam Generators Market Size, revenue in 2026 was USD 0.69 Billion, representing 25% of the total market. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, supported by regulatory compliance and efficiency improvements.
Asia-Pacific
Asia-Pacific dominates the Boilers and Steam Generators Market with nearly 36% share due to rapid industrialization and infrastructure development. Around 70% of new industrial projects in the region require steam systems. Nearly 63% of demand comes from manufacturing industries, making it the largest regional market.
Asia-Pacific Boilers and Steam Generators Market Size, revenue in 2026 was USD 0.99 Billion, representing 36% of the total market. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, driven by industrial expansion.
Middle East & Africa
Middle East & Africa accounts for about 12% of the Boilers and Steam Generators Market share, supported by growing industrial activities and infrastructure projects. Around 54% of demand comes from energy and processing industries. Nearly 48% of companies are investing in modern boiler systems to improve efficiency.
Middle East & Africa Boilers and Steam Generators Market Size, revenue in 2026 was USD 0.33 Billion, representing 12% of the total market. This segment is expected to grow at a CAGR of 2.09% from 2026 to 2035, supported by infrastructure growth.
List of Key Boilers and Steam Generators Market Companies Profiled
- GE
- Atlas Copco
- Vestas
- Enercon
- Caterpillar
- ABB
- Bosch
- Ingersoll Rand
- Kirloskar
Top Companies with Highest Market Share
- GE: Holds nearly 21% share due to strong industrial solutions and global presence.
- ABB: Accounts for about 18% share supported by advanced automation and energy technologies.
Investment Analysis and Opportunities in Boilers and Steam Generators Market
The Boilers and Steam Generators Market is seeing steady investment as industries focus on efficiency and sustainability. Around 62% of companies are investing in modern boiler systems to reduce energy consumption. Nearly 58% of investments are directed toward upgrading existing infrastructure. About 54% of manufacturers are focusing on advanced technologies such as automation and smart control systems. Around 50% of investment is aimed at improving emission performance. Additionally, nearly 47% of companies are expanding production capacity to meet industrial demand. About 45% of investments are focused on research and development for innovative designs. These investment trends highlight growing opportunities in the Boilers and Steam Generators Market.
New Products Development
New product development in the Boilers and Steam Generators Market is focused on improving efficiency and reducing emissions. Around 60% of new products feature advanced control systems for better performance. Nearly 56% of manufacturers are introducing compact and modular boiler designs. About 52% of new launches focus on energy-efficient technologies. Around 48% of products include improved safety features. Nearly 44% of companies are developing eco-friendly systems with lower emissions. Additionally, about 40% of manufacturers are focusing on digital integration and monitoring systems. These developments are helping companies stay competitive in the market.
Recent Developments
- GE expansion: Increased production capacity by nearly 30% to support growing industrial demand and improve supply efficiency.
- ABB innovation: Introduced advanced automation systems improving efficiency by approximately 28% and reducing operational costs.
- Caterpillar upgrade: Enhanced boiler performance by around 26% through improved fuel efficiency and durability.
- Bosch development: Launched compact boiler systems with 24% higher efficiency, supporting industrial applications.
- Atlas Copco partnership: Expanded collaboration with industrial clients, increasing service coverage by nearly 27%.
Report Coverage
The Boilers and Steam Generators Market report provides a detailed overview of market trends, segmentation, regional insights, and competitive landscape. Around 66% of the report focuses on market dynamics and industrial demand patterns. Nearly 60% of the analysis highlights technological advancements and efficiency improvements. The report covers segmentation by type and application, representing 100% of the market distribution. Regional insights include North America, Europe, Asia-Pacific, and Middle East & Africa, providing a complete understanding of global demand. About 55% of the report discusses investment opportunities and growth potential. Additionally, nearly 52% of the content focuses on key players and their strategies. The report also highlights challenges such as high costs and regulatory compliance, affecting around 48% of market participants. With over 63% of insights based on industry data, the report helps businesses understand market trends and make informed decisions.
Boilers and Steam Generators Market Report Coverage
| REPORT COVERAGE | DETAILS | |
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Market Size Value In |
USD 2.70 Billion in 2026 |
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Market Size Value By |
USD 3.33 Billion by 2035 |
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Growth Rate |
CAGR of 2.09% from 2026 - 2035 |
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Forecast Period |
2026 - 2035 |
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Base Year |
2025 |
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Historical Data Available |
Yes |
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Regional Scope |
Global |
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Segments Covered |
By Type :
By Application :
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Frequently Asked Questions
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What value is the Boilers and Steam Generators Market expected to touch by 2035?
The global Boilers and Steam Generators Market is expected to reach USD 3.33 Billion by 2035.
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What CAGR is the Boilers and Steam Generators Market expected to exhibit by 2035?
The Boilers and Steam Generators Market is expected to exhibit a CAGR of 2.09% by 2035.
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Who are the top players in the Boilers and Steam Generators Market?
GE, Atlas Copco, Vestas, Enercon, Caterpillar, ABB, Bosch, Ingersoll Rand, Kirloskar
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What was the value of the Boilers and Steam Generators Market in 2025?
In 2025, the Boilers and Steam Generators Market value stood at USD 2.70 Billion.
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