Steam Boiler System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Boiler Type, By Component, By End-Use Industry, By Region & Competition, 2020-2030F
The Global Steam Boiler System Market was valued at USD 21.98 billion in 2024 and is projected to reach USD 29.03 billion by 2030, growing at a CAGR of 4.59% during the forecast period. Steam boiler systems are critical to industrial operations, converting water into high-pressure steam for applications across sectors such as power generation, food and beverage, chemicals, textiles, pharmaceuticals, and oil and gas. These systems consist of components including boilers, economizers, superheaters, air preheaters, and feedwater pumps. Demand for efficient and low-emission steam solutions is rising due to expanding industrial activity, particularly in Asia-Pacific regions like India and China, where infrastructure investments and energy needs are surging. Simultaneously, regulatory shifts toward environmental sustainability are fostering adoption of electric and biomass-fired boilers. The market's growth is underpinned by the increasing need for energy-efficient thermal systems and modernization of industrial facilities globally.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 21.98 Billion
Market Size 2030
USD 29.03 Billion
CAGR 2025-2030
4.59%
Fastest Growing Segment
Electric Boiler
Largest Market
Asia-Pacific
Key Market Drivers
Escalating Industrialization and Urbanization in Emerging Economies
Rapid industrial expansion and urban development in emerging markets such as Asia-Pacific, Latin America, and Africa are key drivers for the steam boiler system market. Countries like China, India, and Brazil are making large-scale investments in manufacturing infrastructure, power generation, and industrial processing facilities. These sectors rely extensively on steam boilers for core operations such as sterilization, heating, and power production. With growing urban populations demanding increased energy, consistent and high-pressure steam solutions are vital to thermal power generation and industrial utilities. The need for reliable and scalable steam generation systems positions boilers as indispensable in supporting national development strategies.
Key Market Challenges
High Initial and Maintenance Costs Impacting Adoption
The adoption of steam boiler systems is hindered by the high capital costs associated with system design, installation, and integration, particularly for small and medium enterprises. Advanced systems such as water-tube and electric boilers involve complex technology and premium materials, elevating upfront expenses. Moreover, operational costs-including skilled maintenance, routine inspections, and adherence to safety and environmental regulations-add to the financial burden. For industries with limited capital, maintaining high-efficiency or compliant boilers is challenging. These cost pressures often lead to continued reliance on outdated systems, especially in developing regions, limiting wider market penetration despite growing demand.
Key Market Trends
Adoption of Energy-Efficient and Condensing Boiler Technologies
A major trend reshaping the steam boiler market is the rising adoption of high-efficiency and condensing boiler technologies. These systems significantly reduce fuel consumption by capturing latent heat from exhaust gases, delivering efficiency ratings above 90%. This not only supports emissions reduction goals but also aligns with industrial cost-saving initiatives. Industries facing high fuel costs or operating under stringent energy mandates are accelerating the transition to these advanced systems. Manufacturers are enhancing boiler performance further with innovations in intelligent controls, heat recovery modules, and automated monitoring. This trend reflects an industry-wide shift toward sustainable, performance-optimized thermal systems that meet regulatory and environmental benchmarks.
Key Market Players
Schneider Electric SE
General Electric Company (GE Power)
Siemens Energy AG
Babcock & Wilcox Enterprises, Inc.
Thermax Limited
Cleaver-Brooks, Inc.
Mitsubishi Power, Ltd.
Forbes Marshall Private Limited
Viessmann Group
Hurst Boiler & Welding Co., Inc.
Report Scope:
In this report, the Global Steam Boiler System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Steam Boiler System Market, By Boiler Type:
Fire Tube Boiler
Water Tube Boiler
Electric Boiler
Steam Boiler System Market, By Component:
Boiler
Economizer
Superheater
Air Preheater
Feed Pump
Steam Drum
Steam Boiler System Market, By End-Use Industry:
Power Generation
Oil & Gas
Chemical
Food & Beverage
Pulp & Paper
Textile
Healthcare
Others
Steam Boiler System Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
South America
Brazil
Argentina
Colombia
Asia-Pacific
China
India
Japan
South Korea
Australia
Middle East & Africa
Saudi Arabia
UAE
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Steam Boiler System Market.
Available Customizations:
Global Steam Boiler System Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Steam Boiler System Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Boiler Type (Fire Tube Boiler, Water Tube Boiler, Electric Boiler)
5.2.2. By Component (Boiler, Economizer, Superheater, Air Preheater, Feed Pump, Steam Drum)
5.2.3. By End-Use Industry (Power Generation, Oil & Gas, Chemical, Food & Beverage, Pulp & Paper, Textile, Healthcare, Others)
5.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
5.3. By Company (2024)
5.4. Market Map
6. North America Steam Boiler System Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Boiler Type
6.2.2. By Component
6.2.3. By End-Use Industry
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Steam Boiler System Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Boiler Type
6.3.1.2.2. By Component
6.3.1.2.3. By End-Use Industry
6.3.2. Canada Steam Boiler System Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Boiler Type
6.3.2.2.2. By Component
6.3.2.2.3. By End-Use Industry
6.3.3. Mexico Steam Boiler System Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Boiler Type
6.3.3.2.2. By Component
6.3.3.2.3. By End-Use Industry
7. Europe Steam Boiler System Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Boiler Type
7.2.2. By Component
7.2.3. By End-Use Industry
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Steam Boiler System Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Boiler Type
7.3.1.2.2. By Component
7.3.1.2.3. By End-Use Industry
7.3.2. France Steam Boiler System Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Boiler Type
7.3.2.2.2. By Component
7.3.2.2.3. By End-Use Industry
7.3.3. United Kingdom Steam Boiler System Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Boiler Type
7.3.3.2.2. By Component
7.3.3.2.3. By End-Use Industry
7.3.4. Italy Steam Boiler System Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Boiler Type
7.3.4.2.2. By Component
7.3.4.2.3. By End-Use Industry
7.3.5. Spain Steam Boiler System Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Boiler Type
7.3.5.2.2. By Component
7.3.5.2.3. By End-Use Industry
8. Asia Pacific Steam Boiler System Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Boiler Type
8.2.2. By Component
8.2.3. By End-Use Industry
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Steam Boiler System Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Boiler Type
8.3.1.2.2. By Component
8.3.1.2.3. By End-Use Industry
8.3.2. India Steam Boiler System Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Boiler Type
8.3.2.2.2. By Component
8.3.2.2.3. By End-Use Industry
8.3.3. Japan Steam Boiler System Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Boiler Type
8.3.3.2.2. By Component
8.3.3.2.3. By End-Use Industry
8.3.4. South Korea Steam Boiler System Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Boiler Type
8.3.4.2.2. By Component
8.3.4.2.3. By End-Use Industry
8.3.5. Australia Steam Boiler System Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Boiler Type
8.3.5.2.2. By Component
8.3.5.2.3. By End-Use Industry
9. Middle East & Africa Steam Boiler System Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Boiler Type
9.2.2. By Component
9.2.3. By End-Use Industry
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Steam Boiler System Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Boiler Type
9.3.1.2.2. By Component
9.3.1.2.3. By End-Use Industry
9.3.2. UAE Steam Boiler System Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Boiler Type
9.3.2.2.2. By Component
9.3.2.2.3. By End-Use Industry
9.3.3. South Africa Steam Boiler System Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Boiler Type
9.3.3.2.2. By Component
9.3.3.2.3. By End-Use Industry
10. South America Steam Boiler System Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Boiler Type
10.2.2. By Component
10.2.3. By End-Use Industry
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Steam Boiler System Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Boiler Type
10.3.1.2.2. By Component
10.3.1.2.3. By End-Use Industry
10.3.2. Colombia Steam Boiler System Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Boiler Type
10.3.2.2.2. By Component
10.3.2.2.3. By End-Use Industry
10.3.3. Argentina Steam Boiler System Market Outlook