Major factors driving growth of the global industrial boilers market are rapid industrialization, development and replacement of existing boilers and power units across the globe. Moreover, increasing demand from food processing and chemical sector is another factor fueling growth of the global market. Major factors restraining growth of the global industrial boiler market are high capital investments and high installation and maintenance costs.

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The global market is segmented on the basis of capacity, fuel type, type, end-use industry, and region. On the basis of capacity, the global market is segmented into less than 10 BHP, 10BHP-150BHP, 151BHP-300BHP, and greater than 301BHP. On the basis of fuel type, the global market is segmented into natural gas & biomass, coal, oil, and others. The natural gas and biomass segment accounts for highest industrial boiler market share and is expected to witness significant growth over the forecast period.

On the basis of type, the global market is segmented into water tube and fire tube. The water tube segment is expected to witness highest growth over the forecast period. On the basis of end-use industry, the global market is segmented into food, chemical, refineries, primary metal, and others. The chemical segment is expected to witness significant growth over the forecast period.

On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for highest market share in the global market; whereas the market in North America is expected to witness significant growth over the forecast period.

Key players in the global market are Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation Ltd., Siemens AG, General Electric, AC Boilers S.p.a., Bharat Heavy Electricals Limited, Robey-Wellman Boilers & Furnaces Ltd., IHI Corporation, Mitsubishi Hitachi Power Systems, Ltd., Thermax Limited, and other prominent players.