Industrial Boiler Maintenance Market Size

Industrial Boiler Maintenance Market size is poised to reach USD 25 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of industrial boiler maintenance was USD 16 Billion. The reason behind the growth is impelled by the increasing power generation. This may result in increasing use of industrial boilers as they are used in power plants to generate electricity, which may lead to higher maintenance requirements. For instance, over 2% more energy was produced globally in 2022.

The growing personal disposable income across the globe is believed to fuel the market growth. For instance, people are spending more on products owing to an increase in disposable income which has resulted in the rise in industrial activities. According to estimates, global disposable income and household expenditure are expected to rise by over 2% in 2022.