The U.S. industrial boiler market size was valued at USD 1.24 billion in 2019 and is expected to grow at a compounded annual growth rate (CAGR) of 2.8% from 2020 to 2027. The growing demand for boilers in the industrial sector including chemical and petrochemical, food and beverage, and pulp and paper is expected to drive growth over the forecast period. Rising demand for automation and control systems have urged manufacturers to start incorporating digital technologies in the industrial boilers industry. The incorporation of the Internet of Things (IoT) and advanced data analytics to manage boiler-related operations to reduce costs and improve product and service performance is expected to increase the demand for smart industrial boilers over the coming years.
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