Boiler Insurance Market Report 2026

Boiler Insurance Market Overview

• Boiler Insurance market size has reached to $14 billion in 2025 • Expected to grow to $27.68 billion in 2030 at a compound annual growth rate (CAGR) of 14.5% • Growth Driver: Growth Of The Manufacturing Industries Propels The Boiler Insurance Market • Market Trend: Strategic Partnerships Fuel Advanced Boiler Maintenance Solutions • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

What Is Covered Under Boiler Insurance Market?

Boiler insurance refers to a security plan that protects companies from financial losses faced due to boiler and machinery breakdown or failure. It is used to protect companies from financial losses. The main types of boiler insurance are boiler repairs, boiler servicing, plumbing and drainage repairs, and others. Boiler repair insurance refers to insurance in which boiler repair costs are covered and it is useful in the care of boiler breakdowns that can hamper firms' productivity. The major boilers covered in insurance are fire-tube and water-tube and are categories with policies such as gold, platinum, and others and commonly used by industries such as chemicals, refineries, metal and mining, food and beverages, and others.

What Is The Boiler Insurance Market Growth Forecast?

The boiler insurance market size is expected to see rapid growth in the next few years. It will grow to $27.68 billion in 2030 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to expansion of data-driven underwriting models, increasing use of IoT-enabled boiler monitoring, rising demand for comprehensive industrial insurance solutions, growth of smart factory environments, advancements in digital claims processing. Major trends in the forecast period include increasing adoption of predictive maintenance insurance models, rising demand for customized boiler coverage plans, growing integration of digital risk assessment tools, expansion of preventive inspection-based policies, enhanced focus on industrial equipment safety.

Global Boiler Insurance Market Segmentation

1) By Coverage Type: Boiler And Machinery Breakdown Coverage, Mechanical And Electrical Failure Coverage, Explosion And Pressure Vessel Coverage, Business Interruption Coverage, Property Damage Coverage, Third-Party Liability Coverage 2) By Boiler Type: Fire-Tube Boilers, Water-Tube Boilers 3) By Policy Tenure: Annual Policies, Multi-Year Policies 4) By End User: Chemicals, Refineries And Petrochemicals, Metal And Mining, Food And Beverages, Power Generation, Pulp And Paper, Pharmaceuticals, Other Industrial End Users Subsegments: 1) By Boiler And Machinery Breakdown Coverage: Sudden And Accidental Breakdown, Electrical Short Circuit And Power Surge, Control System Failure 2) By Mechanical And Electrical Failure Coverage: Turbine And Generator Failure, Motor And Drive Failure, Switchgear And Transformer Failure 3) By Explosion And Pressure Vessel Coverage: Internal Pressure Explosion, Steam And Gas Rupture, Pressure Vessel Structural Failure 4) By Business Interruption Coverage: Loss Of Gross Profit, Extra Expense Coverage, Contingent Business Interruption 5) By Property Damage Coverage: Repair And Replacement Cost, Debris Removal, Temporary Equipment Replacement 6) By Third-Party Liability Coverage: Bodily Injury Liability, Third-Party Property Damage Liability

What Are The Drivers Of The Boiler Insurance Market?

The growth of the manufacturing industries is expected to support the growth of the boiler insurance market. Manufacturing industries refers to any industry that uses technology or physical labor to create goods from raw materials. As industries grow and expand, the demand for boilers increases, leading to a higher need for boiler insurance to cover potential damages and losses..For instance, in March 2025, according to the National Institute of Standards and Technology (NIST), In the third quarter of 2024, manufacturers added $2.93 trillion to the economy, up from $2.91 trillion in the previous quarter. Therefore, the growth of the manufacturing industries will support the growth of the boiler insurance industry. The global energy demand is expected to drive the demand for the boiler insurance market. Energy demand is the quantitative need for electricity, heat, or fuel required by individuals, industries, or a nation within a specific period. Global energy demand directly impacts the boiler insurance market by driving the need for comprehensive coverage as industries expand, adopt advanced technologies, and face evolving risks associated with the production and utilization of energy. For instance, in March 2025, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global electricity demand increased by 4.3% in 2024, marking a step change from the 2.5% growth observed in 2023.Therefore, the global energy demand will support the growth of the boiler insurance industry.

Key Players In The Global Boiler Insurance Market

Major companies operating in the boiler insurance market are Aviva plc, AXA S.A., Allianz SE, Zurich Insurance Group Ltd., Chubb Limited, American International Group Inc., The Travelers Companies Inc., Liberty Mutual Group Inc., Berkshire Hathaway Inc., Münchener Rückversicherungs-Gesellschaft, Swiss Re Ltd., Tokio Marine Holdings Inc., Sompo Holdings Inc., MS And AD Insurance Group Holdings Inc., QBE Insurance Group Limited, Fairfax Financial Holdings Limited, CNA Financial Corporation, RSA Insurance Group plc, Mapfre S.A., Generali Group

Global Boiler Insurance Market Trends and Insights

Major companies in the boiler insurance market are increasingly adopting strategic partnerships to enhance risk coverage and expand service offerings. Strategic partnerships propel the growth of the boiler insurance market by combining resources and technical expertise, accelerating R&D efforts, enhancing service efficiency, and improving customer risk management. For instance, in February 2024, Miura Co., Ltd., a Japan-based manufacturing company, launched Miura Care in partnership with Hartford Steam Boiler (HSB), a US-based specialty insurer, reinsurer, and engineering consultancy. Miura Care, launched in collaboration with Hartford Steam Boiler, offers proactive boiler maintenance by integrating real-time monitoring and predictive analytics. It enhances operational efficiency while minimizing unexpected downtime and repair costs.

Regional Outlook

North America was the largest region in the boiler insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the boiler insurance market report during the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Boiler Insurance Market?

The boiler insurance market includes revenues earned by entities by providing services such as insurance guidance, consulting, and claim settlement. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Boiler Insurance Market Report 2026?

The boiler insurance market research report is one of a series of new reports from The Business Research Company that provides market statistics, including Market Report 2026?global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the boiler insurance Market Report 2026? The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the Market Report 2026?