세계의 보일러 시장 규모 : 연료별, 기술별, 판매 채널별, 지역 범위별 및 예측

Boilers Market Size And Forecast

Boilers Market size was valued at USD 53,643.96 Million in 2024 and is projected to reach USD 80,094.08 Million by 2032, growing at a CAGR of 5.43% from 2025 to 2032.

The boiler market is primarily driven by the increasing demand for energy-efficient heating solutions are the factors driving market growth. The Global Boilers Market report provides a holistic market evaluation. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Boilers Market Analysis

A boiler is a closed vessel designed to heat water or generate steam by applying thermal energy from a fuel source such as natural gas, oil, coal, biomass, or electricity. The heated fluid-whether hot water or steam-can then be used for various purposes, including space heating, power generation, and industrial processes. Boilers typically consist of a combustion chamber, heat exchanger, and pressure vessel, and they are engineered to operate safely under high temperatures and pressures. Depending on the design, boilers can be classified as fire-tube, water-tube, or electric, each serving different efficiency and capacity requirements.

Boilers play a critical role in energy systems in industrial and commercial settings by providing a consistent and controllable source of thermal energy. Steam produced in boilers is widely used in manufacturing, chemical processing, food production, and power plants to drive turbines and mechanical equipment. In residential and commercial buildings, boilers are commonly used in central heating systems to distribute hot water or steam through radiators and underfloor heating networks. Their reliability, scalability, and adaptability make boilers essential infrastructure in both modern and traditional energy applications.

Global Boilers Market Overview

The Boilers Market is primarily driven by the increasing demand for energy-efficient heating solutions. With governments and industries under pressure to cut carbon emissions, modern high-efficiency boilers are gaining traction as they consume less fuel while delivering the same or higher output. This efficiency translates into reduced operating costs, which makes them attractive to both residential and industrial users. Additionally, the rising need for reliable industrial steam generation in sectors such as chemicals, food processing, and power generation continues to sustain the market, as boilers remain critical to many production processes.

Despite this, the high upfront investment required for advanced boiler systems, especially those designed with low-emission technologies, is a key restraint for the market. For smaller businesses or households, these costs can be prohibitive despite the long-term savings in energy and maintenance. Additionally, regulatory compliance and maintenance costs add further financial burdens, which can slow down wider adoption across certain end-user segments.

The growing adoption of smart and connected boilers with IoT-based monitoring systems is a key trend shaping the market growth. These solutions provide real-time insights into efficiency, performance, and maintenance needs, thereby reducing downtime and extending equipment life. Alongside this, a key opportunity lies in the shift toward renewable and hybrid boiler systems, such as biomass-fired units and those that integrate solar thermal or waste heat recovery. These innovations align with global sustainability goals, opening growth prospects in both developed and emerging markets.

Global Boilers Market Segmentation Analysis

The Global Boilers Market is segmented based on Fuel, Technology, Sales Channel, and Geography.

Boilers Market, By Fuel

Natural Gas-Powered Boilers

Electric-Powered Boilers

Others

Based on Fuel, the market is segmented into Natural Gas-Powered Boilers, Electric-Powered Boilers, Others. The Global Boilers Market is experiencing a scaled level of attractiveness in the Natural gas-powered boilers segment. The natural gas-powered boilers segment accounted for the largest market share of 41.29% in 2025, with a market value of USD 22,206.31 Million, and is projected to grow at a CAGR of 5.19% during the forecast period. Electric-powered boilers segment was the second-largest market in 2025.

Natural gas-powered boilers offer high efficiency and cost-effectiveness compared to oil or coal-based systems. They burn cleaner, producing fewer carbon emissions and particulate pollutants, which makes them more environmentally friendly and compliant with strict emission regulations. Their consistent fuel supply through pipelines also ensures reliability and reduces storage requirements, making them a preferred choice for residential and industrial heating.

Another advantage is their versatility and scalability. Natural gas boilers can be used for a wide range of applications, from small household heating systems to large industrial steam generation. They also provide faster heating response times and can easily integrate with modern control systems, including smart thermostats and IoT-enabled monitoring, enhancing energy optimization and operational efficiency across different end-user segments.

Boilers Market, By Technology

Condensing Boilers

Non-condensing Boilers

Based on Technology, the market is segmented into Condensing Boilers and Non-condensing Boilers. The Global Boilers Market is experiencing a scaled level of attractiveness in the Condensing boilers segment. Condensing boilers accounted for the largest market share of 59.17% in 2025, with a market value of USD 31,464.55 million, and are projected to grow at the highest CAGR of 6.36% during the forecast period. Non-condensing boilers were the second-largest market in 2025, valued at USD 22,179.41 million in 2025.

Condensing boilers offer a major advantage in terms of energy efficiency, often exceeding 90% by recovering heat from exhaust gases that would otherwise be lost. This results in lower fuel consumption, reduced energy bills, and a smaller carbon footprint compared to conventional boilers. Their cleaner combustion also helps reduce emissions, making them more environmentally friendly and aligned with strict regulatory standards.

Condensing boilers are generally compact, making them suitable for homes and commercial spaces with limited installation areas. They also integrate well with renewable systems such as solar thermal, enabling hybrid heating solutions that further improve sustainability. Additionally, their ability to provide consistent heating performance makes them a reliable choice for both residential and industrial applications.

Boilers Market, By Sales Channel

HVAC Installers

Distributor

Dealers & Contractors

Online

Retailers

Home Builders

Manufacturer Direct Sales

Electrical Installers

Others

Based on Sales Channel, the market is segmented into HVAC Installers, Distributor, Dealers & Contractors, Online, Retailers, Home Builders, Manufacturer Direct Sales, Electrical Installers, Others. The Global Boilers Market is experiencing a scaled level of attractiveness in the HVAC Installers segment. HVAC Installers accounted for the largest market share of 24.96% in 2025, with a market value of USD 13,805.71 Million and is projected to grow at a CAGR of 5.96% during the forecast period. Distributor was the second-largest market in 2025.

HVAC installers play a crucial role in the Boilers Market by ensuring proper installation, maintenance, and integration of heating systems into residential, commercial, and industrial settings. Their expertise helps maximize boiler efficiency, extend system lifespan, and ensure compliance with safety and environmental standards. With the growing demand for energy-efficient heating solutions, HVAC installers are increasingly vital in supporting customers' transition to modern, high-performance boilers.

For end-users, the advantages of relying on professional HVAC installers for boilers include optimized energy performance, reduced operational costs, and improved system reliability. Proper installation minimizes breakdowns and ensures boilers operate at peak efficiency, while regular maintenance from skilled technicians enhances safety and reduces emissions. This professional support allows businesses and households to fully realize the cost-saving, environmental, and comfort benefits that advanced boiler technologies provide.

Boilers Market, By Geography

Asia-Pacific

Europe

North America

Latin America

Middle East & Africa

Based on Regional Analysis, the Global Boilers Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Global Boilers Market is experiencing a scaled level of attractiveness in the Asia-Pacific region. Asia-Pacific accounted for the largest market share of 35.64% in 2025, with a market value of USD 19,711.87 million, and is projected to grow at the highest CAGR of 6.08% during the forecast period. North America was the second-largest market in 2025.

In the Asia-Pacific region, one of the key drivers for the Boilers Market is the rapid pace of industrialization and urbanization. Countries such as China, India, and Southeast Asian nations are witnessing strong growth in industries like chemicals, food processing, textiles, and power generation, all of which rely heavily on steam and hot water systems. The rising demand for energy to support expanding manufacturing and infrastructure projects fuels the need for efficient and reliable boilers.

Another key driver is the region's growing focus on energy efficiency and clean technologies. Governments are implementing stricter environmental regulations to curb emissions, which encourages industries and households to adopt advanced boiler systems, such as condensing and natural gas-powered units. In addition, rising disposable incomes and population growth are increasing the need for residential and commercial heating solutions, further boosting demand for modern, efficient boilers across Asia-Pacific.

Key Players

The "Global Boilers Market" study report will provide valuable insight, with an emphasis on the Global market. The major players in the market include Mitsui & Co Ltd, Siemens AG, Mitsubishi Heavy Industries, Ltd., Babcock & Wilcox Enterprises, Inc., Bosch (Industriekessel / Thermotechnik), Thermax Limited, IHI Corporation, Miura America, Cleaver-Brooks, Inc., Forbes Marshalland, and others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

Our market analysis also entails a section solely dedicated to such major players, wherein our analysts provide an insight into the financial statements of all the major players, benchmarking, and SWOT analysis.

• Ace Matrix Analysis
• The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
• Market Attractiveness
• The image of market attractiveness provided would further help to get information about the segment that is majorly leading in the Global Boilers Market. We cover the major impacting factors that are responsible for driving the industry growth in the given geography.
• Porter's Five Forces
• The image provided would further help to get information about Porter's five forces framework, providing a blueprint for understanding the behavior of competitors and a player's strategic positioning in the respective industry. Porter's five forces model can be used to assess the competitive landscape in the Global Boilers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 MARKET DEFINITION
• 1.2 MARKET SEGMENTATION
• 1.3 RESEARCH TIMELINES
• 1.4 ASSUMPTIONS
• 1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

• 2.1 DATA MINING
• 2.2 SECONDARY RESEARCH
• 2.3 PRIMARY RESEARCH
• 2.4 SUBJECT MATTER EXPERT ADVICE
• 2.5 QUALITY CHECK
• 2.6 FINAL REVIEW
• 2.7 DATA TRIANGULATION
• 2.8 BOTTOM-UP APPROACH
• 2.9 TOP-DOWN APPROACH
• 2.10 RESEARCH FLOW

3 EXECUTIVE SUMMARY

• 3.1 GLOBAL BOILERS MARKET OVERVIEW
• 3.2 GLOBAL BOILERS MARKET ESTIMATES AND FORECAST (USD MILLION), 2023-2032
• 3.3 GLOBAL SPACE SERVICE ECOLOGY MAPPING (% SHARE IN 2024)
• 3.4 COMPETITIVE ANALYSIS: FUNNEL DIAGRAM
• 3.5 GLOBAL BOILERS MARKET ABSOLUTE MARKET OPPORTUNITY
• 3.6 GLOBAL BOILERS MARKET ATTRACTIVENESS ANALYSIS, BY REGION
• 3.7 GLOBAL BOILERS MARKET ATTRACTIVENESS ANALYSIS, BY FUEL
• 3.8 GLOBAL BOILERS MARKET ATTRACTIVENESS ANALYSIS, BY TECHNOLOGY
• 3.9 GLOBAL BOILERS MARKET ATTRACTIVENESS ANALYSIS, BY SALES CHANNEL
• 3.10 GLOBAL BOILERS MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
• 3.11 GLOBAL BOILERS MARKET, BY FUEL (USD MILLION)
• 3.12 GLOBAL BOILERS MARKET, BY TECHNOLOGY (USD MILLION)
• 3.13 GLOBAL BOILERS MARKET, BY SALES CHANNEL (USD MILLION)
• 3.14 FUTURE MARKET OPPORTUNITIES

4 MARKET OUTLOOK

• 4.1 GLOBAL BOILERS MARKET EVOLUTION
• 4.2 GLOBAL BOILERS MARKET OUTLOOK
• 4.3 MARKET DRIVERS
• 4.4 MARKET RESTRAINTS
• 4.5 MARKET OPPORTUNITY
• 4.6 MARKET TREND
• 4.7 PORTER'S FIVE FORCES ANALYSIS
• 4.8 VALUE CHAIN ANALYSIS
• 4.9 PRODUCT LIFELINE
• 4.10 MACROECONOMIC ANALYSIS

5 MARKET, BY FUEL

• 5.1 OVERVIEW
• 5.2 GLOBAL BOILERS MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY FUEL
• 5.3 NATURAL GAS-POWERED BOILERS
• 5.4 ELECTRIC-POWERED BOILERS
• 5.5 OTHERS

6 MARKET, BY TECHNOLOGY

• 6.1 OVERVIEW
• 6.2 GLOBAL BOILERS MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY TECHNOLOGY
• 6.3 CONDENSING BOILERS
• 6.4 NON-CONDENSING BOILERS

7 MARKET, BY SALES CHANNEL

• 7.1 OVERVIEW
• 7.2 GLOBAL BOILERS MARKET: BASIS POINT SHARE (BPS) ANALYSIS, BY SALES CHANNEL
• 7.3 HVAC INSTALLERS
• 7.4 DISTRIBUTOR
• 7.5 DEALERS & CONTRACTORS
• 7.6 ONLINE
• 7.7 RETAILERS
• 7.8 HOME BUILDERS
• 7.9 MANUFACTURER DIRECT SALES
• 7.10 ELECTRICAL INSTALLERS
• 7.11 OTHERS

8 MARKET, BY GEOGRAPHY

• 8.1 OVERVIEW
• 8.2 NORTH AMERICA
  • 8.2.1 U.S.
  • 8.2.2 CANADA
  • 8.2.3 MEXICO
• 8.3 EUROPE
  • 8.3.1 GERMANY
  • 8.3.2 U.K.
  • 8.3.3 FRANCE
• 8.4 ASIA PACIFIC
  • 8.4.1 CHINA
  • 8.4.2 JAPAN
  • 8.4.3 INDIA
• 8.5 LATIN AMERICA
  • 8.5.1 BRAZIL
  • 8.5.2 ARGENTINA
  • 8.5.3 REST OF LATIN AMERICA
• 8.6 MIDDLE EAST AND AFRICA
  • 8.6.1 UAE
  • 8.6.2 SAUDI ARABIA
  • 8.6.3 SOUTH AFRICA
  • 8.6.4 REST OF MIDDLE EAST AND AFRICA

9 COMPETITIVE LANDSCAPE

• 9.1 OVERVIEW
• 9.2 COMPANY MARKET RANKING ANALYSIS
• 9.3 COMPANY REGIONAL FOOTPRINT
• 9.4 COMPANY INDUSTRY FOOTPRINT
• 9.5 ACE MATRIX
  • 9.5.1 ACTIVE
  • 9.5.2 CUTTING EDGE
  • 9.5.3 EMERGING
  • 9.5.4 INNOVATORS

10 COMPANY PROFILES

• 10.1 MITSUI & CO LTD
  • 10.1.1 COMPANY OVERVIEW
  • 10.1.2 COMPANY INSIGHTS
  • 10.1.3 SEGMENT BREAKDOWN
• 10.2 SIEMENS AG
  • 10.2.1 COMPANY OVERVIEW
  • 10.2.2 COMPANY INSIGHTS
  • 10.2.3 SEGMENT BREAKDOWN
• 10.3 MITSUBISHI HEAVY INDUSTRIES LTD.
  • 10.3.1 COMPANY OVERVIEW
  • 10.3.2 COMPANY INSIGHTS
  • 10.3.3 SEGMENT BREAKDOWN
• 10.4 BABCOCK & WILCOX ENTERPRISES INC.
  • 10.4.1 COMPANY OVERVIEW
  • 10.4.2 COMPANY INSIGHTS
  • 10.4.3 SEGMENT BREAKDOWN
• 10.5 BOSCH (INDUSTRIEKESSEL / THERMOTECHNIK)
  • 10.5.1 COMPANY OVERVIEW
  • 10.5.2 COMPANY INSIGHTS
  • 10.5.3 PRODUCT BENCHMARKING
• 10.6 THERMAX LIMITED
  • 10.6.1 COMPANY OVERVIEW
  • 10.6.2 COMPANY INSIGHTS
  • 10.6.3 PRODUCT BENCHMARKING
• 10.7 IHI CORPORATION
  • 10.7.1 COMPANY OVERVIEW
  • 10.7.2 COMPANY INSIGHTS
  • 10.7.3 SEGMENT BREAKDOWN
• 10.8 MIURA AMERICA
  • 10.8.1 COMPANY OVERVIEW
  • 10.8.2 COMPANY INSIGHTS
  • 10.8.3 SEGMENT BREAKDOWN
• 10.9 CLEAVER-BROOKS INC.
  • 10.9.1 COMPANY OVERVIEW
  • 10.9.2 COMPANY INSIGHTS
  • 10.9.3 PRODUCT BENCHMARKING
• 10.10 FORBES MARSHALLAND
  • 10.10.1 COMPANY OVERVIEW
  • 10.10.2 COMPANY INSIGHTS
  • 10.10.3 PRODUCT BENCHMARKING