産業用ボイラー市場 – 2030年までの世界予測

Industrial Boilers Market - Global Forecast to 2030

商品番号 : SMB-30337

出版社MarketsandMarkets
出版年月2025年4月
ページ数244
図表数358
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

産業用ボイラー市場 – 燃料(天然ガス、石炭、石油)、ボイラーの種類(火管式、水管式)、機能(温水、蒸気)、ボイラー馬力、最終用途産業(化学・石油化学、食品、パルプ・製紙)および地域別 – 2030年までの世界予測
Industrial Boiler Market by Fuel (Natural Gas, Coal, Oil), Boiler Type (Fire Tube, Water Tube), Function (Hot Water, Steam), Boiler Horsepower, End-use Industry (Chemical & Petrochemical, Food, Pulp & Paper) And Region – Global Forecast to 2030

Report Overview

The industrial boiler market is projected to reach USD 20.75 billion by 2030 from USD 17.22 billion in 2025, at a CAGR of 3.8% during the forecast period. As industries expand across sectors such as power generation, chemicals, food processing, and manufacturing, the need for reliable and high-capacity steam and hot water boilers continues to surge.

産業用ボイラー市場は、2025年の172億2,000万米ドルから2030年には207億5,000万米ドルに達し、予測期間中は年平均成長率(CAGR)3.8%で成長すると予測されています。発電、化学、食品加工、製造などの分野に産業が拡大するにつれ、信頼性が高く大容量の蒸気ボイラーおよび温水ボイラーの需要はますます高まっています。

産業用ボイラー市場 - 2030年までの世界予測
industrial-boiler-market-Overview

Developing economies, particularly in Asia-Pacific, are witnessing significant investments in industrial infrastructure, further fueling market expansion. Additionally, government initiatives promoting cleaner energy sources and stricter environmental regulations are pushing industries to upgrade their boiler systems to more efficient and low-emission models. The transition from coal-fired boilers to natural gas, biomass, and hydrogen-based alternatives is another major factor driving market growth, as companies seek to comply with stringent emission norms such as the EPA’s Boiler MACT standards and the EU Industrial Emissions Directive (IED). Moreover, advancements in boiler technology, including automation, smart monitoring, and waste heat recovery systems, are enhancing efficiency and reducing operational costs, making modern boilers a more attractive investment. The increasing adoption of cogeneration (combined heat and power) systems in industrial settings is also propelling demand, as these systems optimize fuel usage while reducing energy waste. Additionally, aging boiler infrastructure in developed nations is creating opportunities for market players offering retrofitting and modernization services.

発展途上国、特にアジア太平洋地域では、産業インフラへの多額の投資が見られ、市場拡大をさらに加速させています。さらに、政府のクリーンエネルギー源推進策や環境規制の強化により、産業界はボイラーシステムをより高効率で低排出モデルにアップグレードするよう促されています。企業がEPA(環境保護庁)のボイラーMACT基準やEU産業排出指令(IED)といった厳格な排出基準への準拠を目指す中、石炭火力ボイラーから天然ガス、バイオマス、水素ベースの代替燃料への移行も市場成長を牽引する大きな要因となっています。さらに、自動化、スマートモニタリング、廃熱回収システムといったボイラー技術の進歩は、効率性の向上と運用コストの削減をもたらし、近代的なボイラーへの投資をより魅力的なものにしています。産業現場でのコージェネレーション(熱電併給)システムの導入増加も、燃料使用量の最適化とエネルギーの無駄削減を実現するため、需要を押し上げています。さらに、先進国におけるボイラーインフラの老朽化は、改修・近代化サービスを提供する市場プレーヤーにとってビジネスチャンスを生み出しています。

“Natural gas is the second fastest-growing segment in the industrial boiler market during the forecast period.”

Natural gas-fired boilers are widely used in industrial applications due to their high efficiency, lower emissions, and cost-effectiveness compared to traditional coal-fired systems. These boilers utilize natural gas as the primary fuel source to generate steam or hot water, making them a preferred choice for industries such as power generation, chemicals, food processing, and manufacturing. The increasing availability of natural gas, stringent environmental regulations, and the global push for cleaner energy have significantly driven the adoption of natural gas-fired boilers across various sectors. One of the major advantages of natural gas-fired boilers is their low emissions profile. Unlike coal-fired boilers, they produce fewer greenhouse gases, lower sulfur dioxide (SO₂), nitrogen oxides (NOₓ), and particulate matter emissions. This makes them compliant with strict environmental standards such as the EPA’s Boiler MACT regulations and the European Industrial Emissions Directive (IED). Additionally, natural gas-fired boilers offer higher combustion efficiency, lower maintenance costs, and faster startup times compared to conventional solid-fuel boilers. The market for natural gas-fired boilers is expanding rapidly due to industrialization, the shift towards low-carbon energy sources, and government incentives promoting cleaner fuels.

“Water tube is the fastest-growing structure in the industrial boiler market during the forecast period.”

Water-tube boilers are high-performance steam-generating systems where water flows through tubes while hot gases from the combustion process surround them. This design allows these boilers to handle higher pressures and temperatures, making them ideal for industries that require large steam outputs, such as power generation, chemical processing, refineries, and heavy manufacturing. Unlike fire-tube boilers, where hot gases pass through tubes surrounded by water, water-tube boilers offer better heat transfer efficiency, faster steam generation, and the ability to operate at extreme conditions. One of the key advantages of water-tube boilers is their ability to withstand pressures up to 160 bar and temperatures exceeding 550°C. This makes them essential in thermal power plants and industrial applications requiring superheated steam. Additionally, they have a small water content, which enables quick response to load changes, making them more efficient and safer. Their design can accommodate multiple burners, allowing for horizontal or vertical firing configurations, which is beneficial for temperature control and optimizing performance. Water-tube boilers can be either naturally circulated or forced circulation systems. In naturally circulated boilers, steam and water movement is driven by density differences, while forced circulation systems use pumps to enhance steam production. To improve efficiency, modern water-tube boilers are often integrated with waste heat recovery systems, automation, and digital monitoring technologies.

産業用ボイラー市場 - 2030年までの世界予測 region
industrial-boiler-market-Region

“The Middle East and Africa (MEA) market is projected to register the second fastest growing market for industrial boiler during the forecast period.”

The Middle East & Africa (MEA) industrial boiler market is experiencing growth due to rapid industrialization, rising energy demand, and expanding oil & gas, petrochemical, and power generation sectors. Countries like Saudi Arabia, the UAE, South Africa, and Egypt are witnessing significant infrastructure development, driving the demand for high-efficiency industrial boilers. The region’s focus on diversifying economies beyond oil exports has led to increased investments in manufacturing, food processing, and chemical industries, further fueling the need for advanced boiler systems.

A key growth driver is the expansion of the power sector to meet the rising electricity demand. Many countries are investing in thermal power plants, cogeneration (combined heat and power) systems, and renewable energy projects, all of which require high-performance boilers. Additionally, the oil & gas industry remains a major contributor, with refineries and petrochemical plants utilizing industrial boilers for steam generation and process heating. Environmental regulations and the shift towards cleaner fuels are also influencing the market. Governments in the region are implementing emission control policies to reduce reliance on heavy fuels, prompting industries to adopt natural gas-fired and biomass boilers. The push for energy efficiency and sustainability, supported by incentives and regulatory frameworks, is encouraging the adoption of modern, low-emission boiler technologies.

Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.

The break-up of primary interviews is given below:

  • By Department: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
  • By Designation: C Level: 35%, Director Level: 30%, and Executives: 35%
  • By Region: North America: 25%, Europe: 45%, Asia Pacific: 20%, South America: 5%, Middle East & Africa 5%

Babcock & Wilcox Enterprises,. (US),  Siemens (Germany), Wood (UK), Dongfang Electric Corporation Limited (DEC LTD.) (China), Robert Bosch GmbH (Bosch) (Germany), Mitsubishi Heavy Industries, Ltd. (MHI) (Japan), Thermax Limited (India), Sofinter (Italy), Bhel (India), Cleaver-Brooks, Inc. (US) among others are some of the key players in the industrial boilers market.

産業用ボイラー市場 - 2030年までの世界予測 ecosystem
industrial-boiler-market-Ecosystem

The study includes an in-depth competitive analysis of these key players in the authentication and brand protection market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The market study covers the industrial boiler market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on material, application, structure, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the industrial boiler market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall industrial boiler market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (rising demand for electricity and power generation, high demand from major end-use industries), restraints (high initial investment and operating cost), opportunities (Adoption of biomass boilers to achive low carbon emission), challenges (Hincreasing energy prices).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial boiler market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the industrial boiler market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial boiler market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Babcock & Wilcox Enterprises,. (US), Siemens (Germany), Wood (UK), Dongfang Electric Corporation Limited (DEC LTD.) (China), Robert Bosch GmbH (Bosch) (Germany), Mitsubishi Heavy Industries, Ltd. (MHI) (Japan), Thermax Limited (India), Sofinter (Italy), Bhel (India), Cleaver-Brooks, Inc. (US) among others are the top manufacturers covered in the industrial boiler market.

Table of Contents

1               INTRODUCTION              27

1.1           STUDY OBJECTIVES       27

1.2           MARKET DEFINITION   28

1.2.1        INCLUSIONS AND EXCLUSIONS 28

1.3           STUDY SCOPE   29

1.3.1        MARKETS COVERED       29

1.3.2        YEARS CONSIDERED      30

1.4           CURRENCY CONSIDERED            30

1.5           UNITS CONSIDERED      30

1.6           STAKEHOLDERS               30

1.7           SUMMARY OF CHANGES               31

2               RESEARCH METHODOLOGY       32

2.1           RESEARCH DATA              32

2.1.1        SECONDARY DATA          33

2.1.1.1    Key data from secondary sources       33

2.1.2        PRIMARY DATA 34

2.1.2.1    Key data from primary sources           34

2.1.3        PRIMARY INTERVIEWS  35

2.1.3.1    Primary interviews—demand and supply sides                35

2.1.4        KEY INDUSTRY INSIGHTS             35

2.1.5        BREAKDOWN OF PRIMARY INTERVIEWS               35

2.2           MARKET SIZE ESTIMATION         36

2.2.1        BOTTOM-UP APPROACH              36

2.2.1.1    Approach for arriving at market size using bottom-up approach                 37

2.2.2        TOP-DOWN APPROACH                38

2.2.2.1    Approach for arriving at market size using top-down approach                 38

2.3           DATA TRIANGULATION                39

2.4           FACTOR ANALYSIS          40

2.5           RESEARCH ASSUMPTIONS           40

2.6           LIMITATIONS AND RISKS             41

3               EXECUTIVE SUMMARY  42

4               PREMIUM INSIGHTS       47

4.1           EMERGING ECONOMIES TO WITNESS HIGH GROWTH IN INDUSTRIAL BOILERS MARKET           47

4.2           INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE                 47

4.3           INDUSTRIAL BOILERS MARKET, BY BOILER TYPE                 48

4.4           INDUSTRIAL BOILERS MARKET, BY FUEL TYPE 48

4.5           INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER  49

4.6           INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY                 49

4.7           ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY & COUNTRY        50

5               MARKET OVERVIEW       51

5.1           INTRODUCTION              51

5.2           MARKET DYNAMICS       51

5.2.1        DRIVERS               52

5.2.1.1    Government policies to increase requirement for industrial boilers    52

5.2.1.2    Rising demand for electricity              52

5.2.1.3    High demand from major end-use industries  52

5.2.2        RESTRAINTS      53

5.2.2.1    High initial investment and operating cost      53

5.2.3        OPPORTUNITIES              53

5.2.3.1    Adoption of biomass boilers to achieve low-carbon-emissions targets    53

5.2.3.2    Replacement of aging boilers and adoption of supercritical and

ultra-supercritical boilers    54

5.2.3.3    Increasing demand for compact designs and lean operations                 54

5.2.4        CHALLENGES    54

5.2.4.1    Stringent regulations and emissions control    54

5.2.4.2    Increasing energy prices      54

5.3           PATENT ANALYSIS          55

5.3.1        METHODOLOGY              55

5.3.2        PATENTS GRANTED WORLDWIDE, 2015–2024      55

5.3.3        PATENT PUBLICATION TRENDS               56

5.3.4        INSIGHTS            56

5.3.5        LEGAL STATUS OF PATENTS      56

5.3.6        JURISDICTION-WISE PATENT ANALYSIS                57

5.3.7        TOP COMPANIES/APPLICANTS 57

5.3.8        TOP 10 PATENT OWNERS IN LAST 10 YEARS        58

5.4           ECOSYSTEM MAPPING  58

5.5           VALUE CHAIN ANALYSIS               59

5.5.1        RAW MATERIAL SUPPLIERS         60

5.5.2        MANUFACTURERS           60

5.5.3        DISTRIBUTORS 60

5.5.4        END USERS         60

5.6           TECHNOLOGY ANALYSIS             60

5.6.1        LOW NOX BOILERS         60

5.6.2        AI-INTEGRATED BOILERS            60

5.6.3        LOW MASS BOILERS       60

5.6.4        CARBON NEUTRAL BOILERS      61

5.6.5        HYBRID BOILER SYSTEMS            61

5.7           PRICING ANALYSIS          61

5.7.1        AVERAGE SELLING PRICE BASED ON REGION    61

5.8           PORTER’S FIVE FORCES ANALYSIS           61

5.8.1        THREAT OF SUBSTITUTES          62

5.8.2        BARGAINING POWER OF SUPPLIERS       63

5.8.3        THREAT OF NEW ENTRANTS      63

5.8.4        BARGAINING POWER OF BUYERS             63

5.8.5        INTENSITY OF COMPETITIVE RIVALRY 64

5.9           TRADE ANALYSIS             65

5.9.1        IMPORT-EXPORT SCENARIO OF INDUSTRIAL BOILERS MARKET               65

5.10         MACROECONOMIC INDICATORS              67

5.10.1      GLOBAL GDP TRENDS  67

5.11         TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES       69

5.12         KEY CONFERENCES AND EVENTS, 2025  69

5.13         IMPACT OF AI/GEN AI   70

5.14         TARIFF AND REGULATIONS        70

5.14.1      NORTH AMERICA             70

5.14.2      EUROPE               71

5.14.3      ASIA       71

5.15         CASE STUDY ANALYSIS 71

5.15.1      BYWORTH’S FELLSMAN HOT WATER BOILER FOR SHEFFIELD

WEDNESDAY FOOTBALL CLUB 71

5.15.2      THERMAX’S CPFD FOR GOVIND DAIRY PHALTAN                 72

6               INDUSTRIAL BOILERS MARKET, BY FUEL TYPE 73

6.1           INTRODUCTION              74

6.2           NATURAL GAS  76

6.2.1        LOW EMISSION OF NATURAL GAS TO DRIVE MARKET                 76

6.3           COAL     76

6.3.1        ASIA PACIFIC TO DOMINATE COAL-FIRED INDUSTRIAL BOILERS MARKET            76

6.4           OIL         77

6.4.1        HIGH AVAILABILITY OF CRUDE OIL EXPECTED TO FUEL MARKET GROWTH          77

6.5           OTHER FUEL TYPES       77

7               INDUSTRIAL BOILERS MARKET, BY BOILER TYPE                 78

7.1           INTRODUCTION              79

7.2           FIRE-TUBE          80

7.2.1        OFFERS ADVANTAGES SUCH AS COMPACT SIZE, EASE OF OPERATION,

AND HIGH FUEL EFFICIENCY     80

7.3           WATER-TUBE    81

7.3.1        HIGH DEMAND IN POWER STATIONS TO DRIVE MARKET GROWTH          81

7.4           OTHER BOILER TYPES   81

8               INDUSTRIAL BOILERS MARKET, BY FUNCTION 82

8.1           INTRODUCTION              83

8.2           HOT WATER       84

8.2.1        HIGH-TEMPERATURE HOT WATER BOILERS IDEAL FOR LARGER SYSTEMS            84

8.3           STEAM  85

8.3.1        STEAM BOILERS PREFERRED IN TURBINE AND POWER INDUSTRIES       85

9               INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER  86

9.1           INTRODUCTION              87

9.2           10–150 BHP          88

9.2.1        DEMAND IN SPACE AND ENERGY EFFICIENCY APPLICATIONS

TO DRIVE MARKET         88

9.3           151–300 BHP        88

9.3.1        PRECISION PRESSURE AND TEMPERATURE REQUIREMENT ACROSS

END-USE INDUSTRIES TO FUEL MARKET GROWTH         88

9.4           301–600 BHP        89

9.4.1        INCREASING DEMAND FOR HIGH-PRESSURE STEAM OUTPUT TO

PROPEL SEGMENT GROWTH      89

9.5           ABOVE 600 BHP 89

9.5.1        GROWING APPLICATION IN MAJOR END-USE INDUSTRIES

TO PROPEL GROWTH    89

10            INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY                 90

10.1         INTRODUCTION              91

10.2         CHEMICALS & PETROCHEMICALS            93

10.2.1      HIGH DEMAND FOR BULK CHEMICALS IN EMERGING COUNTRIES

TO PROPEL SEGMENT GROWTH               93

10.3         FOOD   93

10.3.1      INCREASING DEMAND FOR PACKAGED FOODS TO FUEL SEGMENT GROWTH            93

10.4         PULP & PAPER  94

10.4.1      INCREASING CONSUMPTION OF PAPER & PACKAGING MATERIALS

TO PROPEL MARKET      94

10.5         METALS & MINING          94

10.5.1      CONSTRUCTION AND INDUSTRIAL ACTIVITIES IN ASIA PACIFIC

TO DRIVE MARKET         94

10.6         POWER GENERATION   95

10.6.1      POWER GENERATION SEGMENT TO WITNESS RAPID GROWTH DURING FORECAST PERIOD  95

10.7         OTHER END-USE INDUSTRIES   95

11            REGIONAL ANALYSIS     96

11.1         INTRODUCTION              97

11.2         ASIA PACIFIC     99

11.2.1      CHINA  106

11.2.1.1  Strong growth in chemical industry to propel market    106

11.2.2      INDIA    108

11.2.2.1  Increased demand from chemical sector to drive market                 108

11.2.3      JAPAN   110

11.2.3.1  Increasing use of boilers in food & chemical industry to drive demand  110

11.2.4      SOUTH KOREA  112

11.2.4.1  Shift toward LNG-based plants for achieving carbon neutrality

to support market growth    112

11.2.5      MALAYSIA           114

11.2.5.1  Rising demand for food products to propel market         114

11.2.6      AUSTRALIA         116

11.2.6.1  Strong focus on reducing emission to propel market      116

11.2.7      REST OF ASIA PACIFIC   118

11.2.7.1  Growth in manufacturing sector to drive industrial boilers market                 118

11.3         EUROPE               119

11.3.1      GERMANY           127

11.3.1.1  Strong chemical industry to propel market growth         127

11.3.2      UK          129

11.3.2.1  Discontinuation of coal-fired boilers to boost demand for natural gas-fired industrial boilers  129

11.3.3      FRANCE                131

11.3.3.1  Rising demand from chemical industry driving market growth                 131

11.3.4      ITALY    133

11.3.4.1  Growth of food industry to propel demand for industrial boilers                 133

11.3.5      TURKEY                134

11.3.5.1  Demand for processed food products to drive industrial

boilers market       134

11.3.6      EASTERN EUROPE           135

11.3.6.1  Growing demand for industrial boilers in food industry to

fuel market growth                135

11.3.7      REST OF EUROPE             137

11.3.7.1  Demand from chemical and food sectors to drive market                 137

11.4         NORTH AMERICA             138

11.4.1      US           145

11.4.1.1  Presence of strong chemical sector to drive market        145

11.4.2      CANADA               147

11.4.2.1  Significant presence of food processing companies to drive market    147

11.4.3      MEXICO                148

11.4.3.1  Rising demand from chemical sector to propel market  148

11.5         MIDDLE EAST & AFRICA                150

11.5.1      SAUDI ARABIA  157

11.5.1.1  Rising thermal energy consumption in chemical industry to

fuel market growth                157

11.5.2      UAE        158

11.5.2.1  Government policies and investment to fuel growth      158

11.5.3      EGYPT  160

11.5.3.1  Growth of manufacturing sector to propel market          160

11.5.4      REST OF MIDDLE EAST & AFRICA             162

11.5.4.1  Increasing demand for industrial chemicals and fertilizers to

fuel market growth                162

11.6         SOUTH AMERICA             163

11.6.1      BRAZIL 170

11.6.1.1  Government policies to curb pollution to propel market                 170

11.6.2      ARGENTINA       171

11.6.2.1  Demand from food industry to boost market growth     171

11.6.3      REST OF SOUTH AMERICA           173

11.6.3.1  High growth of end-use industries to drive demand       173

12            COMPETITIVE LANDSCAPE         175

12.1         OVERVIEW          175

12.2         RANKING ANALYSIS OF KEY MARKET PLAYERS, 2023                 176

12.3         MARKET SHARE ANALYSIS           176

12.4         REVENUE ANALYSIS, 2021–2023  178

12.5         MARKET EVALUATION MATRIX                 178

12.6         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023                 179

12.6.1      STARS   179

12.6.2      EMERGING LEADERS     179

12.6.3      PERVASIVE PLAYERS      179

12.6.4      PARTICIPANTS 179

12.7         COMPANY EVALUATION MATRIX: START-UPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES), 2023                 180

12.7.1      RESPONSIVE COMPANIES            180

12.7.2      STARTING BLOCKS         180

12.7.3      PROGRESSIVE COMPANIES         181

12.7.4      DYNAMIC COMPANIES  181

12.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2023         182

12.7.5.1  Company end-use industry footprint                 182

12.7.5.2  Company region footprint  183

12.8         STRENGTH OF PRODUCT PORTFOLIO  184

12.9         BUSINESS STRATEGY EXCELLENCE         185

12.10       COMPETITIVE SCENARIO             186

12.10.1   PRODUCT LAUNCHES   186

12.10.2   DEALS  187

12.10.3   OTHER DEVELOPMENTS              189

13            COMPANY PROFILES      190

13.1         MAJOR PLAYERS               190

13.1.1      BABCOCK & WILCOX ENTERPRISES, INC.              190

13.1.1.1  Business overview 190

13.1.1.2  Products/Solutions/Services offered 191

13.1.1.3  Recent developments           192

13.1.1.3.1                Deals      192

13.1.1.4  MnM view              193

13.1.1.4.1                Key strengths        193

13.1.1.4.2                Strategic choices   193

13.1.1.4.3                Weaknesses and competitive threats 194

13.1.2      SIEMENS              195

13.1.2.1  Business overview 195

13.1.2.2  Products/Solutions/Services offered 196

13.1.2.3  Recent developments           196

13.1.2.3.1                Deals      196

13.1.2.4  MnM view              196

13.1.2.4.1                Key strengths        196

13.1.2.4.2                Strategic choices   197

13.1.2.4.3                Weaknesses and competitive threats 197

13.1.3      WOOD  198

13.1.3.1  Business overview 198

13.1.3.2  Products/Solutions/Services offered 199

13.1.3.3  Recent developments           199

13.1.3.3.1                Deals      199

13.1.3.3.2                Expansions             200

13.1.3.4  MnM view              200

13.1.3.4.1                Key strengths        200

13.1.3.4.2                Strategic choices   200

13.1.3.4.3                Weaknesses and competitive threats 200

13.1.4      DONGFANG ELECTRIC CORPORATION LIMITED (DEC LTD.)     201

13.1.4.1  Business overview 201

13.1.4.2  Products/Solutions/Services offered 201

13.1.4.3  Recent developments           202

13.1.4.3.1                Deals      202

13.1.4.4  MnM view              202

13.1.4.4.1                Key strengths        202

13.1.4.4.2                Strategic choices   202

13.1.4.4.3                Weaknesses and competitive threats 202

13.1.5      ROBERT BOSCH GMBH 203

13.1.5.1  Business overview 203

13.1.5.2  Products/Solutions/Services offered 204

13.1.5.3  Recent developments           205

13.1.5.3.1                Product launches  205

13.1.5.4  MnM view              206

13.1.5.4.1                Key strengths        206

13.1.5.4.2                Strategic choices   206

13.1.5.4.3                Weakness and competitive threats     206

13.1.6      MITSUBISHI HEAVY INDUSTRIES LTD.   207

13.1.6.1  Business overview 207

13.1.6.2  Products/Solutions/Services offered 207

13.1.6.3  Recent developments           208

13.1.6.3.1                Product launches  208

13.1.6.3.2                Deals      208

13.1.6.4  MnM view              209

13.1.6.4.1                Key strategies        209

13.1.6.4.2                Strategic choices   209

13.1.6.4.3                Weaknesses and competitive threats 209

13.1.7      THERMAX LIMITED        210

13.1.7.1  Business overview 210

13.1.7.2  Products/Solutions/Services offered 211

13.1.7.3  Recent developments           213

13.1.7.3.1                Deals      213

13.1.7.4  MnM view              213

13.1.8      SOFINTER S.P.A 214

13.1.8.1  Business overview 214

13.1.8.2  Products/Solutions/Services offered 214

13.1.8.3  MnM view              215

13.1.9      BHARAT HEAVY ELECTRICALS LIMITED (BHEL)                 216

13.1.9.1  Business overview 216

13.1.9.2  Products/Solutions/Services offered 217

13.1.9.3  Recent developments           218

13.1.9.3.1                Deals      218

13.1.9.4  MnM view              218

13.1.10   CLEAVER-BROOKS, INC.                219

13.1.10.1                 Business overview 219

13.1.10.2                 Products/Solutions/Services offered 219

13.1.10.3                 Recent developments           220

13.1.10.3.1             Deals      221

13.1.10.4                 MnM view              221

13.1.11   BYWORTH BOILERS LTD.             222

13.1.11.1                 Business overview 222

13.1.11.2                 Products/Solutions/Services offered 222

13.1.11.3                 MnM view              223

13.1.12   ANDRITZ AG      224

13.1.12.1                 Business overview 224

13.1.12.2                 Products/Solutions/Services offered 225

13.1.12.3                 Recent developments           225

13.1.12.3.1             Deals      225

13.1.12.3.2             Expansions             226

13.1.12.4                 MnM view              226

13.1.13   HARBIN ELECTRIC COMPANY LIMITED 227

13.1.13.1                 Business overview 227

13.1.13.2                 Products/Solutions/Services offered 227

13.1.13.3                 MnM view              227

13.1.14   ALFA LAVAL AB                 228

13.1.14.1                 Business overview 228

13.1.14.2                 Products/Solutions/Services offered 229

13.1.14.3                 Recent developments           230

13.1.14.4                 MnM view              230

13.1.15   IHI CORPORATION          231

13.1.15.1                 Business overview 231

13.1.15.2                 Products/Solutions/Services offered 232

13.1.15.3                 Recent developments           232

13.1.15.3.1             Deals      232

13.1.15.3.2             Other Developments            232

13.1.15.4                 MnM view              233

13.2         OTHER PLAYERS              234

13.2.1      BRYAN STEAM, LLC         234

13.2.2      COCHRAN LTD.                 234

13.2.3      FORBES MARSHAL PRIVATE LIMITED    234

13.2.4      THE FULTON COMPANIES           234

13.2.5      VAPOR POWER INTERNATIONAL, LLC   234

13.2.6      SUPERIOR BOILER WORKS, INC.                235

13.2.7      HURST BOILER & WELDING COMPANY, INC.       235

13.2.8      JOHNSTON BOILER COMPANY  235

13.2.9      PARKER BOILER COMPANY         235

13.2.10   RENTECH BOILER SYSTEMS, INC.             235

14            APPENDIX           236

14.1         DISCUSSION GUIDE        236

14.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                240

14.3         CUSTOMIZATION OPTIONS        242

14.4         RELATED REPORTS         242

14.5         AUTHOR DETAILS           243

LIST OF TABLES

TABLE 1                INDUSTRIAL BOILERS MARKET: DEFINITION                 28

TABLE 2                INDUSTRIAL BOILERS MARKET: INCLUSIONS AND EXCLUSIONS           28

TABLE 3                TOTAL NUMBER OF PATENTS   55

TABLE 4                TOP 10 PATENT OWNERS             58

TABLE 5                INDUSTRIAL BOILERS MARKET: ROLE OF PLAYERS IN ECOSYSTEM              59

TABLE 6                INDUSTRIAL BOILERS MARKET: PORTER’S FIVE FORCES ANALYSIS           64

TABLE 7                IMPORT TRADE DATA FOR INDUSTRIAL BOILERS, BY COUNTRY,

2022–2024 (USD THOUSAND)      65

TABLE 8                EXPORT TRADE DATA FOR INDUSTRIAL BOILERS, BY COUNTRY,

2022–2024 (USD THOUSAND)      66

TABLE 9                TRENDS OF PER CAPITA GDP, BY COUNTRY, 2020–2023 (USD)                67

TABLE 10              GDP GROWTH ESTIMATES AND PROJECTIONS OF KEY COUNTRIES,

2024–2027(USD) 68

TABLE 11              INDUSTRIAL BOILERS MARKET: CONFERENCES AND EVENTS     69

TABLE 12              INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2021–2024 (USD MILLION)            74

TABLE 13              INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2025–2030 (USD MILLION)            75

TABLE 14              INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2021–2024 (UNITS)            75

TABLE 15              INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2025–2030 (UNITS)            75

TABLE 16              INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2021–2024 (USD MILLION)                79

TABLE 17              INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2025–2030 (USD MILLION)                79

TABLE 18              INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2021–2024 (UNITS)               80

TABLE 19              INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2025–2030 (UNITS)               80

TABLE 20              INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (USD MILLION)                83

TABLE 21              INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (USD MILLION)                83

TABLE 22              INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (UNITS)               84

TABLE 23              INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (UNITS)               84

TABLE 24              INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2021–2024 (USD MILLION)            87

TABLE 25              INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2025–2030 (USD MILLION)            87

TABLE 26              INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (UNITS)            88

TABLE 27              INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (UNITS)            88

TABLE 28              INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            91

TABLE 29              INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            92

TABLE 30              INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (UNITS)   92

TABLE 31              INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (UNITS)   92

TABLE 32              INDUSTRIAL BOILERS MARKET, BY REGION, 2021–2024 (USD MILLION)            97

TABLE 33              INDUSTRIAL BOILERS MARKET, BY REGION, 2025–2030 (USD MILLION)            98

TABLE 34              INDUSTRIAL BOILERS MARKET, BY REGION, 2021–2024 (UNITS)            98

TABLE 35              INDUSTRIAL BOILERS MARKET, BY REGION, 2025–2030 (UNITS)            98

TABLE 36              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            100

TABLE 37              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            100

TABLE 38              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY COUNTRY, 2021–2024 (UNITS)              100

TABLE 39              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY COUNTRY, 2025–2030 (UNITS)              101

TABLE 40              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (USD MILLION)            101

TABLE 41              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (USD MILLION)            101

TABLE 42              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (UNITS)            101

TABLE 43              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (UNITS)            102

TABLE 44              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (USD MILLION)            102

TABLE 45              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (USD MILLION)            102

TABLE 46              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2021–2024 (UNITS)            102

TABLE 47              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2025–2030 (UNITS)            103

TABLE 48              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            103

TABLE 49              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            103

TABLE 50              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (UNITS)            103

TABLE 51              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (UNITS)            104

TABLE 52              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2021–2024 (USD MILLION)            104

TABLE 53              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2025–2030 (USD MILLION)            104

TABLE 54              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2021–2024 (UNITS)            104

TABLE 55              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2025–2030 (UNITS)            105

TABLE 56              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            105

TABLE 57              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            105

TABLE 58              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (UNITS)            106

TABLE 59              ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (UNITS)            106

TABLE 60              CHINA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            107

TABLE 61              CHINA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            107

TABLE 62              CHINA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            108

TABLE 63              CHINA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            108

TABLE 64              INDIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            109

TABLE 65              INDIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            109

TABLE 66              INDIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            110

TABLE 67              INDIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            110

TABLE 68              JAPAN: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            111

TABLE 69              JAPAN: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            111

TABLE 70              JAPAN: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            111

TABLE 71              JAPAN: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            112

TABLE 72              SOUTH KOREA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            113

TABLE 73              SOUTH KOREA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            113

TABLE 74              SOUTH KOREA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            113

TABLE 75              SOUTH KOREA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            114

TABLE 76              MALAYSIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            114

TABLE 77              MALAYSIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            115

TABLE 78              MALAYSIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            115

TABLE 79              MALAYSIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)          115

TABLE 80              AUSTRALIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            116

TABLE 81              AUSTRALIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            116

TABLE 82              AUSTRALIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            117

TABLE 83              AUSTRALIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            117

TABLE 84              REST OF ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            118

TABLE 85              REST OF ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            118

TABLE 86              REST OF ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (USD MILLION)                 118

TABLE 87              REST OF ASIA PACIFIC: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 119

TABLE 88              EUROPE: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            120

TABLE 89              EUROPE: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            121

TABLE 90              EUROPE: INDUSTRIAL BOILERS MARKET, BY COUNTRY, 2021–2024 (UNITS)    121

TABLE 91              EUROPE: INDUSTRIAL BOILERS MARKET, BY COUNTRY, 2025–2030 (UNITS)    121

TABLE 92              EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (USD MILLION)            122

TABLE 93              EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (USD MILLION)            122

TABLE 94              EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2021–2024 (UNITS)              122

TABLE 95              EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE, 2025–2030 (UNITS)              122

TABLE 96              EUROPE: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (USD MILLION)            123

TABLE 97              EUROPE: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (USD MILLION)            123

TABLE 98              EUROPE: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2021–2024 (UNITS)  123

TABLE 99              EUROPE: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE, 2025–2030 (UNITS)  123

TABLE 100            EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            124

TABLE 101            EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            124

TABLE 102            EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (UNITS)       124

TABLE 103            EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (UNITS)       124

TABLE 104            EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2021–2024 (USD MILLION)            124

TABLE 105            EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2025–2030 (USD MILLION)            125

TABLE 106            EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2021–2024 (UNITS)            125

TABLE 107            EUROPE: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER,

2025–2030 (UNITS)            125

TABLE 108            EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            126

TABLE 109            EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            126

TABLE 110            EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (UNITS)            126

TABLE 111            EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (UNITS)            127

TABLE 112            GERMANY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            128

TABLE 113            GERMANY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            128

TABLE 114            GERMANY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            128

TABLE 115            GERMANY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            129

TABLE 116            UK: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            129

TABLE 117            UK: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            130

TABLE 118            UK: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            130

TABLE 119            UK: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            130

TABLE 120            FRANCE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            131

TABLE 121            FRANCE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            132

TABLE 122            FRANCE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            132

TABLE 123            FRANCE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            132

TABLE 124            ITALY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            133

TABLE 125            ITALY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            133

TABLE 126            ITALY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            133

TABLE 127            ITALY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            134

TABLE 128            TURKEY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            134

TABLE 129            TURKEY: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            134

TABLE 130            TURKEY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            135

TABLE 131            TURKEY: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            135

TABLE 132            EASTERN EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            136

TABLE 133            EASTERN EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            136

TABLE 134            EASTERN EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            136

TABLE 135            EASTERN EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            137

TABLE 136            REST OF EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            137

TABLE 137            REST OF EUROPE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            137

TABLE 138            REST OF EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            138

TABLE 139            REST OF EUROPE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            138

TABLE 140            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            139

TABLE 141            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            139

TABLE 142            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (UNITS)            139

TABLE 143            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (UNITS)            139

TABLE 144            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (USD MILLION)            140

TABLE 145            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (USD MILLION)            140

TABLE 146            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (UNITS)            140

TABLE 147            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (UNITS)            140

TABLE 148            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (USD MILLION)            141

TABLE 149            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (USD MILLION)            141

TABLE 150            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (UNITS)            141

TABLE 151            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (UNITS)            141

TABLE 152            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            142

TABLE 153            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            142

TABLE 154            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (UNITS)            142

TABLE 155            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (UNITS)            142

TABLE 156            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (USD MILLION)                 143

TABLE 157            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (USD MILLION)                 143

TABLE 158            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (UNITS) 143

TABLE 159            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (UNITS) 144

TABLE 160            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            144

TABLE 161            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            144

TABLE 162            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (UNITS)            145

TABLE 163            NORTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (UNITS)            145

TABLE 164            US: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            146

TABLE 165            US: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            146

TABLE 166            US: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            146

TABLE 167            US: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            147

TABLE 168            CANADA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            147

TABLE 169            CANADA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            147

TABLE 170            CANADA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            148

TABLE 171            CANADA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            148

TABLE 172            MEXICO: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            149

TABLE 173            MEXICO: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            149

TABLE 174            MEXICO: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            149

TABLE 175            MEXICO: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            149

TABLE 176            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            150

TABLE 177            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            150

TABLE 178            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (UNITS)            151

TABLE 179            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (UNITS)            151

TABLE 180            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (USD MILLION)            151

TABLE 181            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (USD MILLION)            151

TABLE 182            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (UNITS)            152

TABLE 183            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (UNITS)            152

TABLE 184            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (USD MILLION)            152

TABLE 185            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (USD MILLION)            152

TABLE 186            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (UNITS)            153

TABLE 187            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (UNITS)            153

TABLE 188            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (USD MILLION)                 153

TABLE 189            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (USD MILLION)                 153

TABLE 190            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (UNITS)             154

TABLE 191            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (UNITS)             154

TABLE 192            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (USD MILLION)                 154

TABLE 193            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (USD MILLION)                 154

TABLE 194            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (UNITS) 155

TABLE 195            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (UNITS) 155

TABLE 196            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (USD MILLION)                 155

TABLE 197            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)                 156

TABLE 198            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (UNITS)     156

TABLE 199            MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (UNITS)     156

TABLE 200            SAUDI ARABIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            157

TABLE 201            SAUDI ARABIA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            157

TABLE 202            SAUDI ARABIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            158

TABLE 203            SAUDI ARABIA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            158

TABLE 204            UAE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            159

TABLE 205            UAE: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            159

TABLE 206            UAE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            159

TABLE 207            UAE: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            160

TABLE 208            EGYPT: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            160

TABLE 209            EGYPT: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            161

TABLE 210            EGYPT: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            161

TABLE 211            EGYPT: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            161

TABLE 212            REST OF MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (USD MILLION)            162

TABLE 213            REST OF MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (USD MILLION)            162

TABLE 214            REST OF MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (USD MILLION)            162

TABLE 215            REST OF MIDDLE EAST & AFRICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)            163

TABLE 216            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            163

TABLE 217            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            164

TABLE 218            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2021–2024 (UNITS)            164

TABLE 219            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY COUNTRY,

2025–2030 (UNITS)            164

TABLE 220            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (USD MILLION)            164

TABLE 221            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (USD MILLION)            165

TABLE 222            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2021–2024 (UNITS)            165

TABLE 223            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER TYPE,

2025–2030 (UNITS)            165

TABLE 224            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (USD MILLION)            165

TABLE 225            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (USD MILLION)            166

TABLE 226            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2021–2024 (UNITS)            166

TABLE 227            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUEL TYPE,

2025–2030 (UNITS)            166

TABLE 228            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            166

TABLE 229            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            167

TABLE 230            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (UNITS)            167

TABLE 231            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (UNITS)            167

TABLE 232            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (USD MILLION)                 167

TABLE 233            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (USD MILLION)                 168

TABLE 234            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2021–2024 (UNITS) 168

TABLE 235            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY BOILER HORSEPOWER, 2025–2030 (UNITS) 168

TABLE 236            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            169

TABLE 237            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            169

TABLE 238            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (UNITS)            169

TABLE 239            SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (UNITS)            170

TABLE 240            BRAZIL: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            170

TABLE 241            BRAZIL: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            170

TABLE 242            BRAZIL: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            171

TABLE 243            BRAZIL: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            171

TABLE 244            ARGENTINA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2021–2024 (USD MILLION)            172

TABLE 245            ARGENTINA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE,

2025–2030 (USD MILLION)            172

TABLE 246            ARGENTINA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2021–2024 (USD MILLION)            172

TABLE 247            ARGENTINA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY,

2025–2030 (USD MILLION)            173

TABLE 248            REST OF SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2021–2024 (USD MILLION)            173

TABLE 249            REST OF SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY FUNCTION TYPE, 2025–2030 (USD MILLION)            173

TABLE 250            REST OF SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2021–2024 (USD MILLION)            174

TABLE 251            REST OF SOUTH AMERICA: INDUSTRIAL BOILERS MARKET, BY END-USE INDUSTRY, 2025–2030 (USD MILLION)            174

TABLE 252            INDUSTRIAL BOILERS MARKET: DEGREE OF COMPETITION 177

TABLE 253            INDUSTRIAL BOILERS MARKET: REVENUE ANALYSIS            178

TABLE 254            MARKET EVALUATION MATRIX                 179

TABLE 255            PRODUCT LAUNCHES, 2018–2025               186

TABLE 256            DEALS, 2018—2025            187

TABLE 257            OTHER DEVELOPMENTS, 2018–2025         189

TABLE 258            BABCOCK & WILCOX ENTERPRISES, INC.: COMPANY OVERVIEW   190

TABLE 259            BABCOCK & WILCOX ENTERPRISES, INC.: DEALS                 192

TABLE 260            SIEMENS: COMPANY OVERVIEW               195

TABLE 261            SIEMENS: PRODUCT OFFERINGS              196

TABLE 262            SIEMENS: DEALS               196

TABLE 263            WOOD: COMPANY OVERVIEW   198

TABLE 264            WOOD: PRODUCT OFFERINGS  199

TABLE 265            WOOD: DEALS  199

TABLE 266            WOOD: EXPANSIONS     200

TABLE 267            DONGFANG ELECTRIC CORPORATION LIMITED (DEC LTD.): COMPANY OVERVIEW       201

TABLE 268            DONGFANG ELECTRIC CORPORATION LIMITED (DEC LTD.): PRODUCT OFFERINGS      201

TABLE 269            DONGFANG ELECTRIC CORPORATION LIMITED (DEC LTD.): DEALS      202

TABLE 270            ROBERT BOSCH GMBH: COMPANY OVERVIEW                 203

TABLE 271            ROBERT BOSCH GMBH: PRODUCTS OFFERED                 204

TABLE 272            ROBERT BOSCH GMBH: PRODUCT LAUNCHES                 205

TABLE 273            MITSUBISHI HEAVY INDUSTRIES LTD.: COMPANY OVERVIEW   207

TABLE 274            MITSUBISHI HEAVY INDUSTRIES LTD.: PRODUCT OFFERINGS  207

TABLE 275            MITSUBISHI HEAVY INDUSTRIES LTD.:PRODUCT LAUNCHES        208

TABLE 276            MITSUBISHI HEAVY INDUSTRIES LTD.: DEALS                 208

TABLE 277            THERMAX LIMITED: COMPANY OVERVIEW                 210

TABLE 278            THERMAX LIMITED: PRODUCT OFFERINGS                 211

TABLE 279            THERMAX LIMITED: DEALS         213

TABLE 280            SOFINTER S.P.A: COMPANY OVERVIEW 214

TABLE 281            SOFINTER S.P.A: PRODUCT OFFERINGS 214

TABLE 282            BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY OVERVIEW   216

TABLE 283            BHARAT HEAVY ELECTRICALS LIMITED (BHEL): PRODUCT OFFERINGS  217

TABLE 284            BHARAT HEAVY ELECTRICALS LIMITED (BHEL): DEALS  218

TABLE 285            CLEAVER-BROOKS, INC.: COMPANY OVERVIEW                 219

TABLE 286            CLEAVER-BROOKS, INC.: PRODUCTS OFFERED                 219

TABLE 287            CLEAVER-BROOKS, INC.: PRODUCT LAUNCHES                 220

TABLE 288            CLEAVER-BROOKS, INC.: DEALS                221

TABLE 289            BYWORTH BOILERS LTD.: COMPANY OVERVIEW          222

TABLE 290            BYWORTH BOILERS LTD.: PRODUCTS OFFERED                 222

TABLE 291            ANDRITZ AG: COMPANY OVERVIEW       224

TABLE 292            ANDRITZ AG: PRODUCT OFFERINGS      225

TABLE 294            ANDRITZ AG: EXPANSIONS         226

TABLE 295            HARBIN ELECTRIC COMPANY LIMITED: COMPANY OVERVIEW   227

TABLE 296            HARBIN ELECTRIC COMPANY LIMITED: PRODUCT OFFERINGS  227

TABLE 297            ALFA LAVAL AB: COMPANY OVERVIEW 228

TABLE 298            ALFA LAVAL AB: PRODUCT OFFERINGS                 229

TABLE 299            ALFA LAVAL AB: PRODUCT LAUNCHES 230

TABLE 300            IHI CORPORATION: COMPANY OVERVIEW                 231

TABLE 301            IHI CORPORATION: PRODUCT OFFERINGS                 232

TABLE 303            IHI CORPORATION: OTHER DEVELOPMENTS                 232

LIST OF FIGURES

FIGURE 1              INDUSTRIAL BOILERS: MARKET SEGMENTATION              29

FIGURE 2              INDUSTRIAL BOILERS MARKET: RESEARCH DESIGN                32

FIGURE 3              MARKET SIZE ESTIMATION APPROACH 36

FIGURE 4              BOTTOM-UP APPROACH              37

FIGURE 5              TOP-DOWN APPROACH                38

FIGURE 6              INDUSTRIAL BOILERS MARKET: DATA TRIANGULATION             39

FIGURE 7              INDUSTRIAL BOILERS MARKET: FACTOR ANALYSIS            40

FIGURE 8              NATURAL GAS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL BOILERS MARKET DURING FORECAST PERIOD         43

FIGURE 9              FIRE-TUBE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL

BOILERS MARKET DURING FORECAST PERIOD 43

FIGURE 10            STEAM BOILERS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD    44

FIGURE 11            10–150 BHP SEGMENT TO LEAD OVERALL MARKET DURING FORECAST PERIOD    44

FIGURE 12            CHEMICALS & PETROCHEMICALS TO BE LARGEST END USER OF INDUSTRIAL BOILERS DURING FORECAST PERIOD         45

FIGURE 13            ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE                45

FIGURE 14            ASIA PACIFIC TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD       47

FIGURE 15            STEAM BOILERS TO REGISTER HIGHER CAGR DURING FORECAST PERIOD       47

FIGURE 16            FIRE-TUBE BOILERS TO ACCOUNT FOR LARGEST SHARE DURING

FORECAST PERIOD         48

FIGURE 17            NATURAL GAS TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD        48

FIGURE 18            ABOVE 600 BHP TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 49

FIGURE 19            POWER GENERATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD          49

FIGURE 20            CHINA ACCOUNTED FOR LARGEST MARKET SHARE IN 2024   50

FIGURE 21            DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

IN INDUSTRIAL BOILERS MARKET           51

FIGURE 22            TOTAL NUMBER OF PATENTS   55

FIGURE 23            TOTAL NUMBER OF PATENTS IN LAST 10 YEARS                 56

FIGURE 24            PATENT ANALYSIS, BY LEGAL STATUS  56

FIGURE 25            TOP JURISDICTIONS FOR INDUSTRIAL BOILER PATENTS             57

FIGURE 26            TOP 10 COMPANIES/APPLICANTS WITH THE HIGHEST NUMBER OF PATENTS               57

FIGURE 27            INDUSTRIAL BOILERS MARKET: ECOSYSTEM MAPPING             58

FIGURE 28            VALUE CHAIN ANALYSIS               59

FIGURE 29            INDUSTRIAL BOILER PRICES IN DIFFERENT REGIONS, 2024–2030         61

FIGURE 30            INDUSTRIAL BOILERS MARKET: PORTER’S FIVE FORCES ANALYSIS           62

FIGURE 31            TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES           69

FIGURE 32            NATURAL GAS SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING

FORECAST PERIOD         74

FIGURE 33            FIRE-TUBE BOILERS SEGMENT PROJECTED TO DOMINATE MARKET

DURING FORECAST PERIOD       79

FIGURE 34            STEAM BOILERS TO DOMINATE MARKET DURING FORECAST PERIOD       83

FIGURE 35            10–150 BHP SEGMENT PROJECTED TO DOMINATE DURING FORECAST PERIOD              87

FIGURE 36            CHEMICALS & PETROCHEMICALS SEGMENT PROJECTED TO ACCOUNT

FOR LARGEST SHARE DURING FORECAST PERIOD          91

FIGURE 37            INDUSTRIAL BOILERS MARKET IN INDIA TO REGISTER HIGHEST CAGR

DURING FORECAST PERIOD       97

FIGURE 38            ASIA PACIFIC: INDUSTRIAL BOILERS MARKET SNAPSHOT          99

FIGURE 39            EUROPE: INDUSTRIAL BOILERS MARKET SNAPSHOT          120

FIGURE 40            COMPANIES ADOPTED ACQUISITIONS AND EXPANSIONS AS KEY GROWTH STRATEGIES BETWEEN 2018 AND 2025        175

FIGURE 41            RANKING OF TOP FIVE PLAYERS IN INDUSTRIAL BOILERS MARKET, 2023 176

FIGURE 42            INDUSTRIAL BOILERS MARKET SHARE, BY COMPANY, 2023                 176

FIGURE 43            INDUSTRIAL BOILERS MARKET: COMPANY EVALUATION MATRIX

(KEY PLAYERS), 2023       180

FIGURE 44            INDUSTRIAL BOILERS MARKET: COMPANY EVALUATION MATRIX

(START-UPS & SMES), 2023           181

FIGURE 45            STRENGTH OF PRODUCT PORTFOLIO  184

FIGURE 46            BUSINESS STRATEGY EXCELLENCE         185

FIGURE 47            BABCOCK & WILCOX ENTERPRISES, INC.: COMPANY SNAPSHOT   191

FIGURE 48            SIEMENS: COMPANY SNAPSHOT               195

FIGURE 49            WOOD: COMPANY SNAPSHOT   198

FIGURE 50            ROBERT BOSCH GMBH: COMPANY SNAPSHOT                 204

FIGURE 51            THERMAX LIMITED: COMPANY SNAPSHOT                 211

FIGURE 52            BHARAT HEAVY ELECTRICALS LIMITED (BHEL): COMPANY SNAPSHOT   216

FIGURE 53            ANDRITZ AG: COMPANY SNAPSHOT       224

FIGURE 54            ALFA LAVAL AB: COMPANY SNAPSHOT 229

FIGURE 55            IHI CORPORATION: COMPANY SNAPSHOT                 231