Executive Summary

The North America industrial boiler market is expected to grow at a CAGR of 5.8% from 2021 to 2026, driven by the increasing demand for efficient and cost-effective energy sources in various industries. The market is segmented by type, fuel type, end-user, and region. Based on type, the market is segmented into fire-tube, water-tube, and others. Based on fuel type, the market is segmented into natural gas, oil, coal, biomass, and others. Based on end-user, the market is segmented into chemical, food processing, paper and pulp, refineries, and others. North America is further segmented into the United States, Canada, and Mexico. The key players operating in the market include General Electric, Babcock and Wilcox, Mitsubishi Heavy Industries, Ltd., Siemens AG, and Thermax Limited.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The North America industrial boiler market is expected to grow significantly during the forecast period, driven by various factors such as increasing demand for energy-efficient boilers, growing focus on reducing carbon emissions, and rising demand for steam and hot water in various industries. Additionally, the increasing adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers is expected to drive market growth further.

Market Drivers

1. Increasing demand for energy-efficient boilers: The demand for energy-efficient boilers is increasing due to the rising cost of energy and growing environmental concerns. Energy-efficient boilers can help reduce energy consumption, lower fuel costs, and reduce carbon emissions, making them an attractive option for various industries.
2. Growing focus on reducing carbon emissions: The industrial sector is a significant contributor to greenhouse gas emissions, and the adoption of energy-efficient and low-emission boilers can help reduce carbon emissions. Governments and regulatory bodies are also promoting the use of low-emission boilers through various initiatives and regulations.
3. Rising demand for steam and hot water in various industries: Steam and hot water are essential for various industrial processes such as cleaning, sterilization, cooking, and power generation. The increasing demand for these processes is driving the demand for industrial boilers in various industries.

Market Restraints

1. High installation and maintenance costs: Industrial boilers require significant capital investments for installation and maintenance, making them expensive for small and medium-sized enterprises.
2. Stringent government regulations: The industrial boiler market is highly regulated, and companies need to comply with various safety and emission standards, which can increase the overall cost of the boiler.

Market Opportunities

1. Growing demand for biomass boilers: Biomass boilers are becoming increasingly popular as they offer a cost-effective and environmentally-friendly alternative to traditional boilers. The use of biomass boilers can help reduce carbon emissions and lower fuel costs.
2. Adoption of advanced technologies: The adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers can help optimize boiler performance, reduce maintenance costs, and improve energy efficiency, providing opportunities for market growth.

Market Dynamics

The North America industrial boiler market is highly competitive, with the presence of several key players. Companies are focusing on innovation, product development, and strategic partnerships to gain a competitive edge in the market. The market is also characterized by the increasing adoption of advanced technologies and the growing demand for low-emission and energy-efficient boilers.

Regional Analysis

North America is divided into the United States, Canada, and Mexico. The United States is the largest market for industrial boilers in the region, accounting for the highest market share due to the increasing demand for steam and hot water in various industries. The market in Canada is expected to grow at a significant rate during the forecast period, driven by the rising focus on reducing carbon emissions and the increasing adoption of advanced technologies in industrial boilers.

Competitive Landscape

Leading companies in the North America Industrial Boiler Market:

1. Cleaver-Brooks, Inc.
2. Fulton Boiler Works, Inc.
3. Hurst Boiler & Welding Co., Inc.
4. Johnston Boiler Company
5. Babcock & Wilcox Enterprises, Inc.
6. Miura America Co., Ltd.
7. Victory Energy Operations, LLC
8. Clayton Industries, Inc.
9. Burnham Holdings, Inc.
10. A. O. Smith Corporation

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The North America industrial boiler market is segmented by type, fuel type, end-user, and region.

By Type:

• Fire-tube
• Water-tube
• Others

By Fuel Type:

• Natural gas
• Oil
• Coal
• Biomass
• Others

By End-User:

• Chemical
• Food processing
• Paper and pulp
• Refineries
• Others

By Region:

• United States
• Canada
• Mexico

Category-wise Insights

The water-tube segment is expected to dominate the North America industrial boiler market during the forecast period, driven by its higher efficiency, lower emissions, and higher capacity compared to fire-tube boilers. The natural gas segment is expected to hold the largest market share, driven by the increasing demand for clean-burning fuels and the abundance of natural gas reserves in North America. The chemical industry is expected to be the largest end-user segment, driven by the increasing demand for steam and hot water in chemical manufacturing processes.

Key Benefits for Industry Participants and Stakeholders

The North America industrial boiler market provides several benefits for industry participants and stakeholders, such as:

• Increased energy efficiency and reduced fuel costs
• Lower carbon emissions
• Enhanced safety and reliability
• Improved process efficiency and productivity

SWOT Analysis

Strengths:

• High demand for industrial boilers in various industries
• Increasing adoption of advanced technologies in industrial boilers
• Abundance of natural gas reserves in North America

Weaknesses:

• High installation and maintenance costs
• Stringent government regulations

Opportunities:

• Growing demand for biomass boilers
• Adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers

Threats:

• Increasing competition from low-cost manufacturers
• Volatility in fuel prices

Market Key Trends

1. Increasing adoption of low-emission and energy-efficient boilers
2. Growing demand for biomass boilers
3. Adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers
4. Rising focus on reducing carbon emissions in various industries

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the North America industrial boiler market, with the temporary shutdown of various industries leading to a decline in demand for industrial boilers. However, the market has started to recover, driven by the increasing demand for energy-efficient and low-emission boilers in various industries.

Key Industry Developments

1. In March 2021, Babcock and Wilcox announced the sale of its Industrial Environmental business to Stoker Solutions, LLC, in a move to focus on its core business of providing steam generation equipment and related services.

2. In October 2020, Mitsubishi Heavy Industries, Ltd. announced the launch of a new series of boilers, the MAC-B, which is designed to achieve energy savings of up to 7%.
3. In September 2020, General Electric announced the acquisition of Intelligent Platforms, a provider of industrial automation software and hardware solutions, in a move to enhance its digital industrial capabilities.

Analyst Suggestions

The North America industrial boiler market is expected to grow at a steady rate during the forecast period, driven by the increasing demand for energy-efficient and low-emission boilers in various industries. Companies are focusing on innovation, product development, and strategic partnerships to gain a competitive edge in the market. Additionally, the adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers can help optimize boiler performance, reduce maintenance costs, and improve energy efficiency.

Future Outlook

The North America industrial boiler market is expected to continue its growth trajectory during the forecast period, driven by various factors such as increasing demand for energy-efficient and low-emission boilers, growing focus on reducing carbon emissions, and rising demand for steam and hot water in various industries. The market is expected to witness significant growth opportunities in the biomass boiler segment and the adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers. However, the market may face challenges such as high installation and maintenance costs and stringent government regulations.

Conclusion

The North America industrial boiler market is expected to continue its growth trajectory during the forecast period, driven by the increasing demand for energy-efficient and low-emission boilers in various industries. The market is segmented by type, fuel type, end-user, and region, and is highly competitive, with the presence of several key players.

Companies are focusing on innovation, product development, and strategic partnerships to gain a competitive edge in the market. Additionally, the adoption of advanced technologies such as IoT, artificial intelligence, and machine learning in industrial boilers can help optimize boiler performance, reduce maintenance costs, and improve energy efficiency. The market may face challenges such as high installation and maintenance costs and stringent government regulations, but significant growth opportunities exist in the biomass boiler segment and the adoption of advanced technologies.