The Utility Boiler Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Utility Boiler Market?
The historical trend of growth in the Utility Boiler Global Market Report 2025 shows a strong increase. The market size is anticipated to expand from $29.69 billion in 2024 to $31.7 billion in 2025, representing a compound annual growth rate (CAGR) of 6.8%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Utility Boiler Industry?
The Utility Boiler Global Market is projected to reach a market size of $40.62 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.4%.
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What are the Key Growth Drivers Fueling the Utility Boiler Market?
The key drivers in the utility boiler market are:
• Growing adoption of combined heat and power systems
• Increasing infrastructure development
• Rising focus on waste heat recovery
• Increasing shift towards natural gas boilers
Global Market Segmentation: Identifying Major Utility Boiler Industry Segments
The utility boiler market covered in this report is segmented –
1) By Product Type: Pulverized Coal Boiler, Fluidized Bed Boiler, Circulating Fluidized Bed Boiler
2) By Technology: Subcritical, Supercritical, Ultra-Supercritical
3) By Capacity: 30-100 MW, 100-250 MW, 250-500 MW, Greater Than 500 MW
4) By End-Use Industry: Power Generation, Oil And Gas, Chemical Processing, Paper And Pulp
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What are the Emerging Trends Shaping the Future of the Utility Boiler Market?
The key trends in the utility boiler market are:
• Advancements in boiler technology are shaping the future of the market.
• The integration of smart monitoring systems is an upcoming trend.
• Technological developments in combustion efficiency are gaining importance.
• The market is notably influenced by advancements in emission control technologies and high-efficiency heat recovery systems.
Who Are the Top Competitors & Leading Players in the Utility Boiler Market?
Major players in the utility boiler market are:
• Mitsui & Co. Ltd.
• Siemens AG
• General Electric Company
• Sumitomo Corporation
• Mitsubishi Heavy Industries Ltd.
• Larsen And Toubro Limited (L&T)
• IHI Corporation
• HD Hyundai Heavy Industries Co. Ltd.
• ANDRITZ AG
• Alfa Laval AB
• Bharat Heavy Electricals Limited
• Forbes Marshall Private Limited
• Babcock and Wilcox (B&W)
• Zhengzhou Boiler Co. Ltd.
• Fulton Boiler Works Inc.
• Ansaldo Caldaie S.p.A.
• Rafako S.A.
• Hurst Boiler & Welding Co. Inc.
• INDECK Power Equipment Company
• Victory Energy Operations LLC
• Industrial Boilers America
• Microtech Boilers Pvt. Ltd.
• Wuxi Zozen Boilers Co. Ltd.
Regional Dominance: Which Area Leads the Global Utility Boiler Market?
North America was the largest region in the utility boiler market in 2024
