Steam Boiler System Market Size and Share
Market Overview
| Study Period | 2020 - 2030 |
|---|---|
| Market Size (2025) | USD 22.57 Billion |
| Market Size (2030) | USD 27.94 Billion |
| Growth Rate (2025 - 2030) | 4.36% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Steam Boiler System Market Analysis by Mordor Intelligence
The Steam Boiler System Market size is estimated at USD 22.57 billion in 2025, and is expected to reach USD 27.94 billion by 2030, at a CAGR of 4.36% during the forecast period (2025-2030).
Demand comes from both ends of the capacity spectrum, as 10-150 BHP packages proliferate across distributed sites while utility-scale builds above 600 BHP pursue higher thermal efficiency. Regionally, Asia-Pacific retains dual leadership with a 39.3% 2024 revenue share and a 4.9% growth pace that outstrips every other geography. Technology priorities have also shifted: water-tube designs now claim 58.3% share, electrode/electric boilers post a market-leading 6.3% growth rate, and condensing units gain ground as energy costs and emissions rules tighten. Hydrogen-ready retrofits, digital-twin maintenance, and modular offshore systems give suppliers fresh avenues to differentiate, even as nickel and chromium shortages complicate high-alloy tubing supply.
Key Report Takeaways
- By boiler type, water-tube systems captured 58.3% of the steam boiler system market share in 2024, whereas electrode/electric units are rising at a 6.3% CAGR through 2030.
- By fuel type, natural gas and biomass together accounted for 42% of the steam boiler system market size in 2024, while hydrogen and synthetic fuels are projected to expand at a 5.8% CAGR to 2030.
- By capacity, the 10-150 BHP class led with 31.5% share of the steam boiler system market size in 2024, but installations above 600 BHP are forecast to log the quickest 5.2% CAGR during 2025-2030.
- By technology, non-condensing boilers dominated with 75.9% of 2024 revenue, while condensing systems posted the fastest 7.5% CAGR to 2030.
- By end-use, power generation accounted for 38.5% of the steam boiler system market share in 2024, whereas pharmaceuticals are advancing at a 5.6% CAGR to 2030.
- By geography, Asia-Pacific held 39.3% of 2024 revenue and is expanding at a 4.9% CAGR through 2030, ahead of all other regions.
Global Steam Boiler System Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Stringent emission-control regulations | +1.2% | EU, North America; cascading worldwide | Medium term (2-4 years) |
| Surging food & beverage processing capacity | +0.8% | Asia-Pacific, North America | Short term (≤ 2 years) |
| Power-plant capacity additions in emerging Asia & Africa | +0.9% | Asia-Pacific, Middle East & Africa | Long term (≥ 4 years) |
| Hydrogen-ready boiler retrofits in refineries | +0.7% | EU, North America early adopters | Medium term (2-4 years) |
| Digital-twin predictive maintenance | +0.5% | Developed markets | Short term (≤ 2 years) |
| Modular offshore steam generators for FPSOs | +0.3% | North Sea, Gulf of Mexico | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Stringent Emission-Control Regulations
The U.S. EPA’s NESHAP mandate compels biennial tune-ups and continuous monitoring for boilers above 10 MMBtu/h, driving investment in low-NOx burners, selective catalytic reduction, and alternative fuels(1)U.S. Environmental Protection Agency, “NESHAP for Industrial Boilers,” epa.gov. Similar tightening is underway in India, where the pending Boilers Bill 2024 raises inspection frequency for roughly 4 million units, prompting demand for self-diagnostic control systems. Compliance outlays can reach 15% of total project budgets, so operators gravitate toward bundled solutions that integrate emission hardware, controls, and service contracts. These rules favor water-tube and electrode designs that inherently accommodate cleaner combustion or all-electric heating. By linking compliance dashboards to enterprise software, suppliers position digital twins as the least-cost pathway to verify real-time performance and avoid non-compliance penalties.
Surging Food & Beverage Processing Capacity
Cold-chain investments and stricter sanitation protocols have sharpened demand for culinary-grade steam that matches pharmaceutical purity benchmarks(2)Oklahoma State University Extension, “Culinary Steam Guidelines,” okstate.edu. Skid-mounted packages appeal because they curb installation time by up to 50% compared with central boiler rooms, letting processors align capacity with seasonal peaks. IoT probes now stream live-stream-quality data to line operators, cutting product-spoilage risk and simplifying regulatory audits. Rising utility bills amplify interest in condensing fire-tube units for packaging halls, whereas electrode systems supply near-instantaneous clean steam for SIP lines without combustion-related contaminants. These features collectively enlarge the food sector's steam boiler system market footprint.
Power-Plant Capacity Additions in Emerging Asia & Africa
Malaysia’s 1 GW Tanjung Bin T4 project illustrates the supercritical push, operating at 270 bar and 600 °C to claim efficiencies above 40%. Saudi Arabia’s gas conversion at Yanbu 2 trims plant emissions by 25% and furthers local content ambitions for boiler fabrication. Domestic manufacturers in China and India leverage these programs to refine welded water-wall panels and ferritic alloys, enlarging export capacity. In the steam boiler system market, supercritical and ultra-supercritical orders lift average selling prices, cushioning margin pressure from commodity inflation.
Hydrogen-Ready Boiler Retrofits in Refineries
ExxonMobil’s Baytown site now fires 100% hydrogen while achieving ultra-low NOx, validating a retrofit model that swaps burners rather than full-pressure parts. Essar’s Stanlow refinery follows suit, flipping between off-gas blends and pure H₂ to future-proof its asset base. Babcock & Wilcox has logged over 60 fielded BrightGen water-tube units ready for hydrogen service. These precedents expand the steam boiler system market because retrofit costs typically run one-third of a greenfield replacement, tempting operators with accelerated payback.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| High upfront capex & O&M costs | -0.9% | Emerging markets hardest hit | Medium term (2-4 years) |
| Volatile natural-gas & coal prices | -0.6% | Global; stronger in import-dependent nations | Short term (≤ 2 years) |
| Shortage of certified boilermakers in OECD | -0.4% | North America, Europe | Long term (≥ 4 years) |
| Nickel & chromium supply risk | -0.3% | Worldwide, high-temp services | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
High Upfront Capex & O&M Costs
Standard utility builds cost USD 6,000–13,000 per ton-hour, with water treatment, economizers, and cybersecure controls lifting lifecycle spend by 40-60%(3)Steam Boiler Guide, “Industrial Boiler Price Range,” steamboilerguide.com. Smaller firms struggle to finance such outlays, so OEMs now pitch steam-as-a-service contracts in which clients pay a per-ton tariff while suppliers retain asset ownership and maintenance obligations. Digital twins cut unscheduled outages, but their development and data-integration fees add 3-5% to project capital, a hurdle in emerging markets where the cost of capital hovers in double digits.
Volatile Natural-Gas & Coal Prices
Fuel often makes up 70-80% of operating expense. Switching to biomass or hydrogen hedges price swings but introduces new logistics and storage costs. Multi-fuel burners capable of toggling among gas, biomass, and H₂ blends are becoming default specs, albeit at a 10-15% price premium. Some buyers sign index-linked long-term contracts, while others deploy onsite biomass gasifiers that decouple them from fossil volatility. Such strategies cushion but not eliminate the drag on the steam boiler system market investment cycles.
Segment Analysis
By Boiler Type: Water-Tube Dominance Meets Electric Momentum
Water-tube units generated 58.3% of 2024 revenue, a commanding steam boiler system market lead. Their large surface area handles 600 °C and 270 bar service, a power and petrochemical complexes. Fire-tube designs remain popular in mid-range duties up to 250 psig due to simpler fabrication and lower upfront cost, while coil/once-through variants excel where footprint trumps capacity.
Electrode/electric boilers outpace every other type at a 6.3% CAGR. They deliver 99.9% electrical-to-thermal efficiency and instant modulation, prized in district energy and pharma sterilization. Vicinity Energy’s 42 MW Cambridge installation exemplifies scale possibilities, supplying carbon-free steam to 30 million ft² of real estate(4)District Energy, “Vicinity eSteam Project,” districtenergy.org. As renewable electricity cheapens, electric penetration deepens, broadening the steam boiler system market.
Note: Segment shares of all individual segments available upon report purchase
By Fuel Type: Natural Gas Holds Sway as Hydrogen Accelerates
Natural gas and biomass retained 42% of 2024 sales, thanks to pipeline reach and renewable credentials. Shale output underpins North American gas security, while biomass rollers benefit from circular-economy incentives in pulp and paper lines. Oil burners fade amid air-quality rules, and coal units retire under 2030-2035 phase-out edicts.
Hydrogen and synthetic fuels clock the fastest 5.8% CAGR. Viessmann shipped its first 100% H₂-ready condensing boiler line in 2024. Refineries already produce off-gas hydrogen, offering low-cost feedstock for on-site steam. Hybrid burners that swap between H₂, nat-gas, and bio-syngas mitigate supply volatility, reinforcing the steam boiler system market appeal of multi-fuel flexibility.
By Capacity: Small Packages Rule Volume, Utility Builds Rule Growth
Installations in the 10-150 BHP bracket held 31.5% of 2024 revenue, favored by schools, breweries, and micro-manufacturers seeking modularity. Their factory-assembled skids cut field labor and accelerate commissioning.
Yet builds above 600 BHP and records the quickest 5.2% CAGR. Supercritical boilers exceed 45% efficiency when paired with advanced steam turbines, and nuclear cogeneration, such as Tianwan’s 600 t/h industrial steam pipeline, offsets 400,000 t of coal annually(5)World Nuclear News, “Tianwan Nuclear Steam,” world-nuclear-news.org. Modular architectures let utilities incrementally add 100–200 MW blocks, smoothing capex cycles and enlarging the steam boiler system market scope.
Note: Segment shares of all individual segments available upon report purchase
By Technology: Non-Condensing Still Dominant; Condensing Gaining
Non-condensing drums owned 75.9% of revenue in 2024, indispensable for superheated steam above 200 °C. Heavy-oil extraction and high-temp chemical synthesis keep this base steady.
Condensing designs post a brisk 7.5% CAGR. Reclaiming latent heat, they push efficiency above 90%, an irresistible lever where return water nets below 60 °C. Digital controllers that adjust flue-gas recirculation and feedwater oxygen trim optimize dew-point targeting, closing the performance gap even in warmer climates. Hybrid systems that toggle between condensing and non-condensing modes extend applicability, boosting the steam boiler system market attractiveness for institutions with variable load profiles.
By End-Use Industry: Power Dominates, Pharma Surges
Power generation contributed 38.5% of 2024 revenue, led by combined-cycle gas turbines integrating high-pressure HRSGs. Coal retirements in the OECD are offset by gas, biomass, and nuclear cogeneration builds elsewhere.
Pharmaceutical buyers push a 5.6% CAGR. Biologics plants demand USP-compliant clean steam for Water-for-Injection, justifying premium electrode or water-tube packages lined with 316L steel. Food processors, chemicals, and pulp makers maintain mid-single-digit growth, while textiles adopt biomass units to meet onsite sustainability targets. This mix enriches the steam boiler system market via application diversity.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Asia-Pacific generated 39.3% of global revenue in 2024 and expanded at a 4.9% CAGR through 2030. China’s refinery, cement, and chemicals complexes fuel base-load steam, while India’s Make-in-India program spurs mid-range package sales. Japan and South Korea invest in hydrogen-ready combustion and ultra-efficient condensing arrays, exporting those innovations across ASEAN sites.
North America shows mature replacement demand. Cheap shale gas sustains water-tube retrofits, but decarbonization policies in California and the Northeast propel electric and hydrogen pilots. Digital-twin service contracts gain traction as utilities monetize operational data.
Europe hastens away from coal, reallocating funds to biomass CHP and H₂-blend gas boilers. The Middle East & Africa region charts a 5%-plus trajectory on the back of Saudi industrial diversification and African industrialization corridors. South America’s pulp, mining, and agro-processing plants deliver steady orders, though currency volatility nudges buyers toward modular, pay-as-you-grow packages. Collectively, these currents keep the steam boiler system market in balanced expansion.
Competitive Landscape
The steam boiler system market is moderately consolidated; the five largest vendors hold about 40% of global revenue, yet niche specialists still thrive. Miura’s purchase of Cleaver-Brooks in 2024 combined strong water-tube hardware with North American service fleets, signaling a pivot toward lifecycle contracts over one-time equipment sales.
Technology defines competitive moats. Babcock & Wilcox leverages its BrightGen portfolio for hydrogen service, while Doosan Enerbility fields utility-scale supercritical packages with 25% fewer welds to expedite construction. Start-ups like AtmosZero raised USD 21 million to scale industrial electric boilers, challenging incumbents on emissions and footprint.
Service differentiation now revolves around AI analytics, parts 3D-printing, and remote operations centers. Suppliers offering 97% guaranteed availability with penalty clauses win multi-year steam-as-a-service contracts, widening revenue streams and deepening customer lock-in across the steam boiler system market.
Steam Boiler System Industry Leaders
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Bosch Industriekessel
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Mitsubishi Heavy Industries
-
Babcock & Wilcox Enterprises
-
Siemens Energy
-
Cleaver-Brooks
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- December 2024: Vicinity Energy installed a 42 MW electric boiler in Cambridge to deliver carbon-free eSteam to Boston’s district network.
- September 2024: NLine Energy raised USD 11 million for Microsteam Turbine Systems that harvest waste-steam pressure.
- August 2024: ANDRITZ started Suzano’s single-line eucalyptus mill with HERB recovery boiler, enabling fossil-free operation.
- May 2024: Miura closed its acquisition of Cleaver-Brooks, enlarging global boiler-room solutions.
- March 2024: Remeha and Hollander Techniek commissioned a hydrogen boiler for utility service in the Netherlands.
Global Steam Boiler System Market Report Scope
A steam boiler system is a device that uses thermal energy to turn water into steam. In order to power steam engines or steam turbines, steam boilers are usually employed. The use of steam boiler systems is anticipated to benefit from an increase in global energy consumption.
The Steam Boiler System Market is segmented by type, end-user industries, and geography. By type, the market is segmented into water tube boilers and fire tube boilers. The end-user industries include power generation, refineries and petrochemicals, food and beverage, and others. The report also covers the installed capacity and forecasts for the steam boiler system market across major regions. For each segment, the installed capacity and forecast is based on revenue (USD Billion).
| Water-Tube |
| Fire-Tube |
| Coil/Once-Through |
| Electrode/Electric |
| Natural Gas and Biomass |
| Oil |
| Coal |
| Hydrogen and Synthetic Fuels |
| 10 to 150 BHP |
| 151 to 300 BHP |
| 301 to 600 BHP |
| Above 600 BHP/Utility-Scale |
| Condensing |
| Non-condensing |
| Power Generation |
| Oil Refineries and Petrochemicals |
| Food and Beverage |
| Chemicals |
| Pulp and Paper |
| Pharmaceuticals |
| Others (Textile, Rubber, etc.) |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germnay |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Russia | |
| Rest of Europe | |
| Asia Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Australia | |
| ASEAN Countries | |
| Rest of Asia Pacific | |
| South America | Argentina |
| Brazil | |
| Rest of South America | |
| Middle East and Africa | Saudi Arabia |
| United Arab Emirates | |
| South Africa | |
| Egypt | |
| Rest of Middle East and Africa |
| By Boiler Type | Water-Tube | |
| Fire-Tube | ||
| Coil/Once-Through | ||
| Electrode/Electric | ||
| By Fuel Type | Natural Gas and Biomass | |
| Oil | ||
| Coal | ||
| Hydrogen and Synthetic Fuels | ||
| By Capacity (BHP) | 10 to 150 BHP | |
| 151 to 300 BHP | ||
| 301 to 600 BHP | ||
| Above 600 BHP/Utility-Scale | ||
| By Technology | Condensing | |
| Non-condensing | ||
| By End-Use Industry | Power Generation | |
| Oil Refineries and Petrochemicals | ||
| Food and Beverage | ||
| Chemicals | ||
| Pulp and Paper | ||
| Pharmaceuticals | ||
| Others (Textile, Rubber, etc.) | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | Germnay | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Rest of Europe | ||
| Asia Pacific | China | |
| India | ||
| Japan | ||
| South Korea | ||
| Australia | ||
| ASEAN Countries | ||
| Rest of Asia Pacific | ||
| South America | Argentina | |
| Brazil | ||
| Rest of South America | ||
| Middle East and Africa | Saudi Arabia | |
| United Arab Emirates | ||
| South Africa | ||
| Egypt | ||
| Rest of Middle East and Africa | ||
Key Questions Answered in the Report
How large is the steam boiler system market today?
The sector is valued at USD 22.57 billion in 2025 and is projected to reach USD 27.94 billion by 2030.
Which region leads in both share and growth?
Asia-Pacific commands 39.3% of revenue and is also the quickest-growing territory at a 4.9% CAGR.
What boiler type is expanding fastest?
Electrode/electric boilers are growing at a 6.3% CAGR as industrial electrification accelerates.
How fast is the pharmaceutical segment advancing?
Pharma applications are increasing 5.6% each year due to rising clean-steam demand.
What fuel segment shows the strongest growth?
Hydrogen and synthetic fuels register the highest 5.8% CAGR amid decarbonization mandates.
How consolidated is supplier competition?
With the top five firms holding about 40% of sales, competition is moderate and innovation-driven.
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