Manufacturing Components

Power Boilers: Market Size, Growth & Forecast to 2030

The Power Boilers market is valued at about $72 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Steel and Specialized Alloys (45% of spend). Asia Pacific leads demand at 40%.

Market size
$72.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
45

Projected market growth to 2030

Market size index, 2026 = 100, at the 4.6% CAGR.

1251171081001002026104.62027109.42028114.42029119.72030125.22031

Cost structure

Steel and Specialized Alloys
45%
Direct Engineering and Fabrication Labor
25%
Components and Instrumentation
15%
Factory Overhead and Utilities
10%
Logistics and Inland Freight
5%

Regional demand split

Asia Pacific demand
40%
North America demand
25%
Europe demand
20%
Rest of world demand
15%

Key suppliers

Mitsubishi Heavy IndustriesGeneral Electric CompanyBabcock and Wilcox Enterprises, Inc.Dongfang Electric Corporation LimitedThermax LimitedAlfa Laval ABHarbin Electric Company Limited
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Claight market analysis of proprietary and public data. Full report: /category-intelligence/power-boilers