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Market Outlook

The Boilers market was valued at USD 123,681 Million in 2024 and is projected to grow to USD 195,802 Million by 2030, with a compound annual growth rate (CAGR) of 7.8% from 2025 to 2030. The global boilers market encompasses the industry engaged in the design, production, distribution, and installation of boilers that generate steam or hot water for a variety of applications, including industrial, commercial, and residential uses. 

These boilers operate as closed vessels that utilize fuels such as natural gas, oil, coal, biomass, or electricity to produce thermal energy. This energy plays a crucial role in numerous sectors, such as power generation, chemicals, food and beverage, paper and pulp, textiles, and heating systems for buildings. The market includes a wide range of products, from water-tube and fire-tube boilers to modern, energy-efficient, and eco-friendly options.

Boilers market

The growth of this market is primarily driven by a rising demand for energy efficiency, increased environmental regulations, and a heightened focus on reducing greenhouse gas emissions. Industrial expansion in emerging economies, along with urbanization and the growing construction of both commercial and residential infrastructures, is further fueling the demand for boilers. Current trends show a shift towards high-capacity and compact boilers that incorporate automation and digital monitoring systems, leading to improved safety, lower operational costs, and better overall performance.

Additionally, the transition toward renewable energy sources and cleaner fuels is influencing the development of biomass-fired and electric boilers, making sustainability a vital aspect in shaping the market. While traditional fossil-fuel boilers continue to maintain a significant market share, the gradual move towards greener solutions is becoming increasingly apparent.

Key Insights

Asia Pacific accounted for the largest share of the Boilers market at 41.95% in 2024. The Asia Pacific region is a powerhouse in the global boilers market, thanks to its fast-paced industrial growth and increasing demand for energy in both homes and businesses. Countries like China, India, Japan, and South Korea play significant roles in this landscape, driven by rising energy needs and urban development. Government efforts to boost energy efficiency, along with improvements in infrastructure and a shift towards clean energy technologies, are adding momentum to the market. The area's abundant manufacturing facilities and cost-effective production also contribute to its leading position. Also, substantial investments in sectors like manufacturing, petrochemicals, and district heating are helping to cement the Asia Pacific's dominance in the boilers industry.

Boilers market size

In terms of Fuel Type, the Natural Gas accounted for a major share of 45% in 2024. In the global boilers market, the natural gas segment stands out as the leading choice due to its cost-effectiveness, wide availability, and reduced carbon emissions when compared to coal and oil. Many industries, commercial entities, and households prefer natural gas boilers, particularly in developed regions where gas infrastructure is well-established. Furthermore, government initiatives aimed at phasing out coal and oil-based heating systems are encouraging even more widespread adoption of natural gas boilers. These systems are known for their high operational efficiency, reliability, and adherence to environmental regulations, making them an appealing option for those seeking cleaner and more efficient heating solutions. This trend is expected to persist as both industries and households increasingly prioritize sustainability.

Market Dynamics

Drivers:

Governments are enforcing stricter carbon emission limits, pushing industries and households to adopt cleaner and more efficient boilers.

Governments around the world are increasingly focusing on decarbonization as part of their efforts to combat climate change, and this trend is significantly impacting the boilers market. Stricter limits on carbon emissions are being established through international agreements like the Paris Accord, as well as national energy transition policies. Traditional coal- and oil-fired boilers have been identified as major sources of greenhouse gas emissions, prompting policymakers to introduce regulations aimed at reducing their prevalence. For example, numerous regions have implemented tough caps on CO?, NOx, and SOx emissions, making it more challenging for industries and households to continue using outdated and inefficient boiler systems.

This evolving regulatory landscape is encouraging both industrial operators and residential users to shift toward cleaner, more efficient alternatives. Condensing boilers, which recover heat from exhaust gases and can achieve efficiencies of 90% or higher, are becoming the norm in developed markets. Additionally, interest in hydrogen-ready boilers, biomass boilers, and hybrid heating systems is increasing, particularly in Europe and parts of Asia Pacific. These innovative technologies not only meet emissions standards but also help users lower their energy bills by consuming less fuel.

In industrial sectors like food processing, chemicals, and manufacturing, companies are prioritizing boiler replacements or retrofits to remain compliant with regulations and maintain competitiveness. Meanwhile, households are taking advantage of government incentives, rebates, and low-interest financing options to facilitate boiler upgrades. 

Policy incentives and rising adoption of electric heat pumps are reducing the reliance on traditional boilers.

Policy incentives and the rising popularity of electric heat pumps are presenting significant challenges to the traditional boilers market. Many governments, particularly in Europe and North America, have started offering subsidies, tax credits, and rebates to encourage the adoption of heat pumps as a cleaner heating alternative. These heat pumps are highly efficient, often providing three to four times more energy output than the electricity they consume. This efficiency makes them appealing to both households and commercial buildings that are looking to lower their energy bills and minimize their carbon footprints.

Moreover, decarbonization strategies are prioritizing the electrification of heating systems, which aligns with the ongoing expansion of renewable energy sources. This policy-driven momentum is reducing the demand for fossil-fuel-based boilers, and even high-efficiency gas systems, in certain regions. As public awareness increases and installer networks become more widespread, heat pumps are progressively replacing traditional boiler installations, especially in residential settings.

Key Pointers

Values

Category

Machinery and Equipment

Pages    

480

Table Count

330

Chart Count

250

Companies Analyzed

20

Report Focus

Global

Largest Region

Asia Pacific

Fastest Growing Region    

North America

Base Year

2024

CAGR % (2025-2030)

7.8%

Forecast Year

2025-2030

Historical Year

2015-2023

Market Size in 2023

USD 123,681 Million

Market Size in 2030

USD 195,802 Million

Countries Covered

U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Turkey, Israel, China, Japan, India, South Korea, Australia, SEA, Brazil, Chile, Argentina, Saudi Arabia, UAE, Qatar, South Africa, Rest of World

Key Driver & Challenges

Rising energy demand, industrialization, and the push for cleaner heating technologies. Increasing adoption of biomass and electric boilers supports growth.
Stringent emission regulations, fluctuating fuel prices, and high installation and maintenance costs, which limit adoption in cost-sensitive markets.

Segments Covered

By Fuel Type, By Type, By Application

Segmental Analysis

Based on Fuel Type, Boilers market is segmented into Natural Gas, Oil, Coal, Biomass, Electricity, Hydrogen, and Heat Pump.

Boilers market report

The global boilers market, when analyzed by fuel type, reveals the clear dominance of natural gas, which claims an estimated 45% market share. Natural gas boilers are favored for their high efficiency and cleaner combustion compared to oil or coal, bolstered by a well-established infrastructure in both developed and emerging economies. This makes them the leading choice for residential heating, industrial processes, and power generation, especially in regions with stringent emission regulations.

Oil-based boilers account for approximately 18% of the market, with demand primarily in areas where natural gas infrastructure is lacking. While these boilers are essential for off-grid applications and specific industrial needs, their market share is declining due to rising environmental concerns and fluctuations in oil prices.

Coal-fired boilers make up about 13% of the market, with notable demand in Asia-Pacific countries like China and India, where coal remains an affordable and abundant fuel source. However, their global market share is gradually diminishing as governments prioritize the reduction of carbon emissions.

Biomass boilers represent around 8% of the market, driven by the increasing focus on renewable energy. This segment is particularly supported in Europe, where favorable policies and incentives encourage their adoption as part of broader carbon neutrality strategies.

Electric boilers hold a 7% share and are becoming more popular, especially in regions with a strong renewable electricity supply. Although they are clean and efficient, high electricity costs pose a challenge for their widespread use in heavy industries.

The segment for hydrogen boilers, which accounts for 5%, highlights a promising emerging trend reflecting the global shift toward green hydrogen as a sustainable heating option. Lastly, heat pumps, with a 6% market share, are swiftly gaining traction in both residential and commercial settings due to their energy efficiency and environmentally friendly performance, particularly in Europe and North America.

Segments     Values
By Type Fire-tube boilers
Water-tube boilers
Condensing boilers
Electric boilers
Combination/compact boilers
Heat pump boilers
Packaged Boilers
By Application Residential
Chemical & petrochemical
Food & beverage
Paper & pulp
Textile
Oil & gas
Utility/Power generation

Regional Landscape

In the context of regional analysis, the Boilers market includes North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

The market size of the Asia Pacific was valued at USD 51,885 Million in 2024 and is expected to reach USD 86,133 Million by 2030, with average CAGR of 8.7% during the forecast period. The Asia Pacific region has established itself as a leading player in the global boilers market, largely due to rapid industrialization, urbanization, and an increasing demand for dependable energy solutions. Countries like China, India, Japan, and South Korea are driving this demand forward, fueled by their expanding manufacturing sectors, rising infrastructure investments, and continuous growth in residential and commercial construction projects. 

Boilers market global

In sectors such as power generation, chemicals, food processing, and oil & gas, there’s a noticeable trend towards adopting advanced boiler technologies aimed at meeting the growing energy needs while enhancing efficiency and managing costs. This region sees significant population growth and urban expansion, particularly in emerging economies, which drives up the demand for heating systems in both residential and commercial sectors.

China, in particular, is leading the way in the Asia Pacific market, thanks to its strong emphasis on energy production and industrial manufacturing. Meanwhile, India is also experiencing rapid growth, propelled by government initiatives aimed at boosting industrial development and launching power generation projects. Japan and South Korea are focusing on adopting cleaner and more efficient boiler systems to align with their sustainability objectives. 

Further contributing to the market’s expansion are the availability of raw materials, cost-effective labor, and supportive policies that encourage industrial growth. Additionally, the rising preference for energy-efficient and environmentally friendly boiler systems, spurred by environmental regulations, continues to drive market growth in the region.

Competitive Landscape

Some of the major companies operating within the Boilers market are: A. O. Smith Corporation, Alfa Laval AB, Bosch Thermotechnology, Mitsubishi Heavy Industries, Ltd., Babcock & Wilcox Enterprises, Inc., Thermax Limited, Cleaver Brooks, Viessmann, IHI Corporation, Harbin Electric Co., Ltd, Forbes Marshall and Others.   

Table of Contents

1.    Global Boilers Market Introduction and Market Overview
1.1.    Objectives of the Study
1.2.    Global Boilers Market Scope and Market Estimation
1.2.1.    Global Boilers Overall Market Size (US$ Million), Market CAGR (%), Market forecast (2025 - 2030)
1.2.2.    Global Boilers Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2030
1.3.    Market Segmentation
1.3.1.    Fuel Type of Global Boilers Market
1.3.2.    Type of Global Boilers Market
1.3.3.    Application of Global Boilers Market
1.3.4.    Region of Global Boilers Market
2.    Executive Summary
2.1.    Demand Side Trends
2.2.    Key Market Trends 
2.3.    Market Demand (US$ Million) Analysis 2019 – 2023 and Forecast, 2025 – 2030
2.4.    Demand and Opportunity Assessment
2.5.    Market Dynamics
2.5.1.    Drivers
2.5.2.    Limitations
2.5.3.    Opportunities
2.5.4.    Impact Analysis of Drivers and Restraints
2.6.    Cost Tear Down Analysis
2.7.    Key Developments
2.8.    Porter’s Five Forces Analysis
2.8.1.    Bargaining Power of Suppliers
2.8.2.    Bargaining Power of Buyers
2.8.3.    Threat of Substitutes
2.8.4.    Threat of New Entrants
2.8.5.    Competitive Rivalry
2.9.    PEST Analysis
2.9.1.    Political Factors
2.9.2.    Economic Factors
2.9.3.    Social Factors
2.9.4.    Technological Factors
2.10.    Production Farm Size by Countries, 2019-2024, Units
3.    Global Boilers Market Estimates & Historical Trend Analysis (2019-2024)
4.    Global Boilers Market Estimates & Forecast Trend Analysis, by Fuel Type
4.1.    Global Boilers Market Revenue (US$ Million) Estimates and Forecasts, Fuel Type, 2019 - 2034
4.1.1.    Natural Gas
4.1.2.    Oil
4.1.3.    Coal
4.1.4.    Biomass
4.1.5.    Electricity
4.1.6.    Hydrogen
4.1.7.    Heat Pump
5.    Global Boilers Market Estimates & Forecast Trend Analysis, by Type
5.1.    Global Boilers Market Revenue (US$ Million) Estimates and Forecasts, Type, 2019 - 2034
5.1.1.    Fire-tube boilers
5.1.2.    Water-tube boilers
5.1.3.    Condensing boilers
5.1.4.    Electric boilers
5.1.5.    Combination/compact boilers
5.1.6.    Heat pump boilers
5.1.7.    Packaged Boilers
6.    Global Boilers Market Estimates & Forecast Trend Analysis, by Application
6.1.    Global Boilers Market Revenue (US$ Million) Estimates and Forecasts, Application, 2019 - 2034
6.1.1.    Residential
6.1.2.    Chemical & petrochemical
6.1.3.    Food & beverage
6.1.4.    Paper & pulp
6.1.5.    Textile
6.1.6.    Oil & gas
6.1.7.    Utility/Power generation
7.    Global Boilers Market Estimates & Forecast Trend Analysis, by Region
7.1.    Global Boilers Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2019 - 2034
7.1.1.    North America
7.1.2.    Europe
7.1.3.    Asia Pacific
7.1.4.    Middle East & Africa
7.1.5.    South America
8.    North America Boilers Market: Estimates & Forecast Trend Analysis
8.1.    North America Boilers Market Assessments & Key Findings
8.1.1.    North America Boilers Market Introduction
8.1.2.    North America Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
8.1.2.1.    By Fuel Type
8.1.2.2.    By Type
8.1.2.3.    By Application
8.1.2.4.    By Country
8.1.2.4.1.    The U.S.
8.1.2.4.1.1.    By Fuel Type
8.1.2.4.1.2.    By Type
8.1.2.4.1.3.    By Application
8.1.2.4.1.4.    Top Companies Market Share in the U.S., 2019-2024
8.1.2.4.2.    Canada
8.1.2.4.2.1.    By Fuel Type
8.1.2.4.2.2.    By Type
8.1.2.4.2.3.    By Application
8.1.2.4.2.4.    Top Companies Market Share in Canada, 2019-2024
8.1.2.4.3.    Mexico
8.1.2.4.3.1.    By Fuel Type
8.1.2.4.3.2.    By Type
8.1.2.4.3.3.    By Application
8.1.2.4.3.4.    Top Companies Market Share in Mexico., 2019-2024
9.    Western Europe Boilers Market: Estimates & Forecast Trend Analysis
9.1.    Western Europe Boilers Market Assessments & Key Findings
9.1.1.    Western Europe Boilers Market Introduction
9.1.2.    Western Europe Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
9.1.2.1.    By Fuel Type
9.1.2.2.    By Type
9.1.2.3.    By Application
9.1.2.4.    By Country
9.1.2.4.1.    Germany
9.1.2.4.1.1.    By Fuel Type
9.1.2.4.1.2.    By Type
9.1.2.4.1.3.    By Application
9.1.2.4.1.4.    Top Companies Market Share in Germany, 2019-2024
9.1.2.4.2.    Italy
9.1.2.4.2.1.    By Fuel Type
9.1.2.4.2.2.    By Type
9.1.2.4.2.3.    By Application
9.1.2.4.2.4.    Top Companies Market Share in Italy, 2019-2024
9.1.2.4.3.    U.K.
9.1.2.4.3.1.    By Fuel Type
9.1.2.4.3.2.    By Type
9.1.2.4.3.3.    By Application
9.1.2.4.3.4.    Top Companies Market Share in U.K, 2019-2024
9.1.2.4.4.    France
9.1.2.4.4.1.    By Fuel Type
9.1.2.4.4.2.    By Type
9.1.2.4.4.3.    By Application
9.1.2.4.4.4.    Top Companies Market Share in France, 2019-2024
9.1.2.4.5.    Spain
9.1.2.4.5.1.    By Fuel Type
9.1.2.4.5.2.    By Type
9.1.2.4.5.3.    By Application
9.1.2.4.5.4.    Top Companies Market Share in Spain, 2019-2024
9.1.2.4.6.    Benelux
9.1.2.4.6.1.    By Fuel Type
9.1.2.4.6.2.    By Type
9.1.2.4.6.3.    By Application
9.1.2.4.6.4.    Top Companies Market Share in Benelux, 2019-2024
9.1.2.4.7.    Nordics
9.1.2.4.7.1.    By Fuel Type
9.1.2.4.7.2.    By Type
9.1.2.4.7.3.    By Application
9.1.2.4.7.4.    Top Companies Market Share in Nordics, 2019-2024
9.1.2.4.8.    Rest of W. Europe
9.1.2.4.8.1.    By Fuel Type
9.1.2.4.8.2.    By Type
9.1.2.4.8.3.    By Application
9.1.2.4.8.4.    Top Companies Market Share in Rest of Western Europe, 2019-2024
10.    Eastern Europe Boilers Market: Estimates & Forecast Trend Analysis
10.1.    Eastern Europe Boilers Market Assessments & Key Findings
10.1.1.    Eastern Europe Boilers Market Introduction
10.1.2.    Eastern Europe Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
10.1.2.1.    By Fuel Type
10.1.2.2.    By Type
10.1.2.3.    By Application
10.1.2.4.    By Country
10.1.2.4.1.    Russia
10.1.2.4.1.1.    By Fuel Type
10.1.2.4.1.2.    By Type
10.1.2.4.1.3.    By Application
10.1.2.4.1.4.    Top Companies Market Share in Russia, 2019-2024
10.1.2.4.2.    Hungary
10.1.2.4.2.1.    By Fuel Type
10.1.2.4.2.2.    By Type
10.1.2.4.2.3.    By Application
10.1.2.4.2.4.    Top Companies Market Share in Hungary, 2019-2024
10.1.2.4.3.    Poland
10.1.2.4.3.1.    By Fuel Type
10.1.2.4.3.2.    By Type
10.1.2.4.3.3.    By Application
10.1.2.4.3.4.    Top Companies Market Share in Poland, 2019-2024
10.1.2.4.4.    Balkan & Baltics
10.1.2.4.4.1.    By Fuel Type
10.1.2.4.4.2.    By Type
10.1.2.4.4.3.    By Application
10.1.2.4.4.4.    Top Companies Market Share in Balkan and Baltics, 2019-2024
10.1.2.4.5.    Rest of E. Europe
10.1.2.4.5.1.    By Fuel Type
10.1.2.4.5.2.    By Type
10.1.2.4.5.3.    By Application
10.1.2.4.5.4.    Top Companies Market Share in Eastern Europe, 2019-2024
11.    Asia Pacific Boilers Market: Estimates & Forecast Trend Analysis
11.1.    Asia Pacific Market Assessments & Key Findings
11.1.1.    Asia Pacific Boilers Market Introduction
11.1.2.    Asia Pacific Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
11.1.2.1.    By Fuel Type
11.1.2.2.    By Type
11.1.2.3.    By Application
11.1.2.4.    By Country
11.1.2.4.1.    China
11.1.2.4.1.1.    By Fuel Type
11.1.2.4.1.2.    By Type
11.1.2.4.1.3.    By Application
11.1.2.4.1.4.    Top Companies Market Share in China, 2019-2024
11.1.2.4.2.    Japan
11.1.2.4.2.1.    By Fuel Type
11.1.2.4.2.2.    By Type
11.1.2.4.2.3.    By Application
11.1.2.4.2.4.    Top Companies Market Share in Japan, 2019-2024
11.1.2.4.3.    India
11.1.2.4.3.1.    By Fuel Type
11.1.2.4.3.2.    By Type
11.1.2.4.3.3.    By Application
11.1.2.4.3.4.    Top Companies Market Share in India, 2019-2024
11.1.2.4.4.    Australia & New Zealand
11.1.2.4.4.1.    By Fuel Type
11.1.2.4.4.2.    By Type
11.1.2.4.4.3.    By Application
11.1.2.4.4.4.    Top Companies Market Share in Australia and New Zealand, 2019-2024
11.1.2.4.5.    South Korea
11.1.2.4.5.1.    By Fuel Type
11.1.2.4.5.2.    By Type
11.1.2.4.5.3.    By Application
11.1.2.4.5.4.    Top Companies Market Share in South Korea, 2019-2024
11.1.2.4.6.    ASEAN
11.1.2.4.6.1.    By Fuel Type
11.1.2.4.6.2.    By Type
11.1.2.4.6.3.    By Application
11.1.2.4.6.4.    Top Companies Market Share in ASEAN, 2019-2024
11.1.2.4.7.    Rest of Asia Pacific
11.1.2.4.7.1.    By Fuel Type
11.1.2.4.7.2.    By Type
11.1.2.4.7.3.    By Application
11.1.2.4.7.4.    Top Companies Market Share in Rest of Asia Pacific 2019-2024
12.    Middle East & Africa Boilers Market: Estimates & Forecast Trend Analysis
12.1.    Middle East & Africa Market Assessments & Key Findings
12.1.1.    Middle East & Africa Boilers Market Introduction
12.1.2.    Middle East & Africa Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
12.1.2.1.    By Fuel Type
12.1.2.2.    By Type
12.1.2.3.    By Application
12.1.2.4.    By Country
12.1.2.4.1.    UAE
12.1.2.4.1.1.    By Fuel Type
12.1.2.4.1.2.    By Type
12.1.2.4.1.3.    By Application
12.1.2.4.1.4.    Top Companies Market Share in UAE, 2019-2024
12.1.2.4.2.    Saudi Arabia
12.1.2.4.2.1.    By Fuel Type
12.1.2.4.2.2.    By Type
12.1.2.4.2.3.    By Application
12.1.2.4.2.4.    Top Companies Market Share in Saudi Arabia, 2019-2024
12.1.2.4.3.    Turkey
12.1.2.4.3.1.    By Fuel Type
12.1.2.4.3.2.    By Type
12.1.2.4.3.3.    By Application
12.1.2.4.3.4.    Top Companies Market Share in Turkey, 2019-2024
12.1.2.4.4.    South Africa
12.1.2.4.4.1.    By Fuel Type
12.1.2.4.4.2.    By Type
12.1.2.4.4.3.    By Application
12.1.2.4.4.4.    Top Companies Market Share in South Africa, 2019-2024
12.1.2.4.5.    Rest of MEA
12.1.2.4.5.1.    By Fuel Type
12.1.2.4.5.2.    By Type
12.1.2.4.5.3.    By Application
12.1.2.4.5.4.    Top Companies Market Share in Rest of MEA, 2019-2024
13.    Latin America Boilers Market: Estimates & Forecast Trend Analysis
13.1.    Latin America Market Assessments & Key Findings
13.1.1.    Latin America Boilers Market Introduction
13.1.2.    Latin America Boilers Market Size Estimates and Forecast (US$ Million) (2019 - 2034)
13.1.2.1.    By Fuel Type
13.1.2.2.    By Type
13.1.2.3.    By Application
13.1.2.4.    By Country
13.1.2.4.1.    Brazil
13.1.2.4.1.1.    By Fuel Type
13.1.2.4.1.2.    By Type
13.1.2.4.1.3.    By Application
13.1.2.4.1.4.    Top Companies Market Share in Brazil, 2019-2024
13.1.2.4.2.    Argentina
13.1.2.4.2.1.    By Fuel Type
13.1.2.4.2.2.    By Type
13.1.2.4.2.3.    By Application
13.1.2.4.2.4.    Top Companies Market Share in Argentina, 2019-2024
13.1.2.4.3.    Colombia
13.1.2.4.3.1.    By Fuel Type
13.1.2.4.3.2.    By Type
13.1.2.4.3.3.    By Application
13.1.2.4.3.4.    Top Companies Market Share in Colombia, 2019-2024
13.1.2.4.4.    Rest of LATAM
13.1.2.4.4.1.    By Fuel Type
13.1.2.4.4.2.    By Type
13.1.2.4.4.3.    By Application
13.1.2.4.4.4.    Top Companies Market Share in Rest of LATAM, 2019-2024
14.    Country Wise Boilers Market: Introduction
15.    Competition Landscape
15.1.    Global Boilers Market Product Mapping
15.2.    Global Boilers Market Concentration Analysis, by Leading Players / Innovators / Emerging Players / New Entrants
15.3.    Global Boilers Market Tier Structure Analysis
15.4.    Global Boilers Market Concentration & Company Market Shares (%) Analysis, 2023
16.    Company Profiles
16.1.    A. O. Smith Corporation
16.1.1.    Company Overview & Key Stats
16.1.2.    Revenue (USD Million), Sales (Units), and Gross Margin & Market Share, 2019-2024
16.1.3.    Product Portfolio & Pricing Analysis
16.1.4.    SWOT Analysis
16.1.5.    Business Strategy & Recent Developments
* Similar details would be provided for all the players mentioned below 
16.2.    Alfa Laval AB
16.3.    Bosch Thermotechnology
16.4.    Mitsubishi Heavy Industries, Ltd.
16.5.    Babcock & Wilcox Enterprises, Inc.
16.6.    Thermax Limited
16.7.    Cleaver Brooks
16.8.    Viessmann
16.9.    IHI Corporation
16.10.    Harbin Electric Co., Ltd
16.11.    Forbes Marshall
16.12.    Others
17.    Research Methodology
17.1.    External Transportations / Databases
17.2.    Internal Proprietary Database
17.3.    Primary Research
17.4.    Secondary Research
17.5.    Assumptions
17.6.    Limitations
17.7.    Report FAQs
18.    Research Findings & Conclusion 

No of Tables: 250
No of Figures: 200

Frequently Asked Questions

The average CAGR of Boilers Market is 7.8%.

Natural Gas dominated the market with a share of 45% in 2024.

Asia Pacific is estimated to emerge as a fastest growing region with a CAGR of 41.95% during the forecast period 2025-2030.
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