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    South Korea Industrial Boilers Market

    ID: MRFR/E&P/52502-HCR
    128 Pages
    Snehal Singh
    September 2025

    South Korea Industrial Boilers Market Research Report By Fuel (Natural Gas, Coal, Oil, Others), By Boiler type (Fire-Tube, Water-Tube), By Rated Capacity (0.1 to 0.35 MW, 0.35 to 0.7 MW, 0.7 MW to 1 MW) and By End-User (Food & Beverages, Chemicals, Metal, Plastic, Textile, Wood, Paper, District heating, Others) - Forecast to 2035

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    Table of Contents

    South Korea Industrial Boilers Market Summary

    The South Korea Industrial Boilers market is projected to grow significantly from 204 USD Million in 2024 to 612 USD Million by 2035.

    Key Market Trends & Highlights

    South Korea Industrial Boilers Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 10.5% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 612 USD Million, indicating robust growth potential.
    • In 2024, the market is valued at 204 USD Million, reflecting a solid foundation for future expansion.
    • Growing adoption of energy-efficient technologies due to increasing environmental regulations is a major market driver.

    Market Size & Forecast

    2024 Market Size 204 (USD Million)
    2035 Market Size 612 (USD Million)
    CAGR (2025-2035) 10.5%

    Major Players

    POSCO Energy, Jeil Engineering, Hanil Engineering & Construction, Hyundai Engineering & Construction, Daelim Industrial, Taekyung Engineering, Doosan Heavy Industries & Construction, SK Engineering & Construction, Hanjin Heavy Industries, Geumgang Engineering, Sungjin Tech, LG International Corp, Samsung C&T Corporation, KT Corporation, Iljin Engineering

    South Korea Industrial Boilers Market Trends

    The South Korea Industrial Boilers Market is experiencing several significant trends that are reshaping its landscape. One of the key market drivers is the government's commitment to reducing greenhouse gas emissions and improving energy efficiency, as part of its broader environmental policy. This focus has led to the growing adoption of eco-friendly boiler technologies, which align with South Korea's goals of promoting sustainable energy solutions.

    Additionally, there is an increasing demand for high-efficiency boilers in various sectors such as manufacturing, food processing, and chemicals, as industries strive to optimize energy consumption and operational costs.At the same time, the South Korean market is presented with numerous opportunities to be explored. 

    The rise in industrial automation and the integration of smart technologies in boiler systems are paving the way for more advanced monitoring and control systems. These innovations enhance the performance and reliability of boilers, making them more appealing to manufacturers looking to modernize their facilities. Furthermore, as South Korea seeks to transition towards renewable energy sources, there is a notable interest in biomass and waste heat recovery boilers, which can significantly contribute to sustainability goals. Trends in recent times indicate a shift towards more stringent regulations regarding emissions and efficiency standards, prompting manufacturers to innovate and comply.

    Companies are now prioritizing research and development to create optimal solutions that meet regulatory demands while enhancing productivity. As South Korea continues to invest in green technologies and infrastructure, the industrial boilers market is likely to evolve with advanced products and services that align with these national objectives, enabling businesses to thrive in an increasingly competitive market.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    South Korea Industrial Boilers Market Drivers

    Market Segment Insights

    Industrial Boilers Market Fuel Insights

    Industrial Boilers Market Fuel Insights

    The Fuel segment of the South Korea Industrial Boilers Market exhibits diverse characteristics shaped by environmental regulations, energy policies, and technological advancements. In recent times, there has been a significant shift towards Natural Gas, attributed mainly to its lower emissions profile compared to traditional fuels. 

    This trend is in alignment with South Korea's commitment to reducing carbon footprints and enhancing energy efficiency as part of its sustainability goals. Coal, while historically a dominant fuel source due to its abundance and cost-effectiveness, is witnessing increased scrutiny from regulatory bodies owing to environmental concerns, leading to a gradual transition to cleaner alternatives.Additionally, Oil remains relevant in specific applications, especially in industries that require high heat outputs or possess limited flexibility in switching fuel sources. The segment also includes Other fuels, which cater to specialized needs and applications within the industrial sector. 

    The ongoing push for innovation and stricter emissions regulations is expected to prompt industries to explore alternative fuels and improve existing technologies, thereby influencing the overall Fuel landscape within the South Korea Industrial Boilers Market.The diversification in fuel sources underlines the importance of adaptability in energy sourcing, allowing industries to meet their operational demands effectively while aligning with national energy policies. Overall, the Fuel segment is a dynamic part of the South Korea Industrial Boilers Market, reflecting the region's evolving energy landscape and responsiveness to both economic and environmental challenges. 

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Industrial Boilers Market Boiler type Insights

    Industrial Boilers Market Boiler type Insights

    The Boiler type segment of the South Korea Industrial Boilers Market is primarily categorized into Fire-Tube and Water-Tube boilers, both of which play crucial roles in various industrial applications. Fire-Tube boilers are known for their compact design and efficiency in small to medium-scale operations, making them a popular choice in sectors like food processing and textiles. This type typically provides significant operational flexibility and is favored for its lower initial cost and ease of maintenance.

    On the other hand, Water-Tube boilers are essential for larger capacity needs and high-pressure applications, often dominating sectors such as power generation and chemical manufacturing due to their ability to produce steam quickly and at higher pressures.

    The increasing industrial activities in South Korea, driven by government initiatives for cleaner technologies and energy efficiency, enhance the importance of these boiler types in the market. Rising demand for advanced boiler solutions that contribute to energy efficiency and lower emissions presents opportunities for both Fire-Tube and Water-Tube boiler markets. Hence, understanding the distinct benefits of each type aids in navigating the evolving landscape of the South Korea Industrial Boilers Market.

    Industrial Boilers Market Rated Capacity Insights

    Industrial Boilers Market Rated Capacity Insights

    The Rated Capacity segment of the South Korea Industrial Boilers Market plays a crucial role in shaping the industry's landscape as it reflects the efficiency and scalability of boiler systems. The range between 0.1 to 0.35 MW is important for smaller industrial applications, typically used in light manufacturing and commercial settings where efficiency is vital for reducing operational costs. 

    Following this, the 0.35 to 0.7 MW segment caters to medium-scale industries that require reliable heat generation, which emphasizes the need for compliance with stringent environmental regulations in South Korea.Meanwhile, the 0.7 MW to 1 MW category often dominates the market, addressing larger facilities and significant industrial processes, highlighting its importance due to the rising demand for energy-efficient systems while ensuring robust performance. 

    Overall, this segmentation showcases how varying capacity needs are aligned with industrial growth and energy standards prevalent in South Korea, reinforcing the push towards sustainable practices in the manufacturing sector, influencing future developments in the South Korea Industrial Boilers Market.

    Industrial Boilers Market End-User Insights

    Industrial Boilers Market End-User Insights

    The End-User segmentation within the South Korea Industrial Boilers Market plays a crucial role in driving its growth and development. Industries such as Food and Beverages and Chemicals significantly rely on steam and heating processes from industrial boilers to enhance production efficiency and maintain product quality. 

    The Metal and Plastic sectors utilize boilers for applications like melting and molding, showcasing their importance in manufacturing operations. Furthermore, the Textile and Wood industries employ these boilers for drying processes, indicating their vital role in material processing.The Paper industry also benefits from boilers in various stages of production, demanding reliable energy sources for a seamless workflow. 

    District heating represents an innovative solution for residential and commercial heating needs, leveraging central boiler systems to provide efficient heat distribution. Other industries similarly contribute to the market's diversification, creating a dynamic landscape. The growth of these sectors will ultimately bolster the overall statistics of the South Korea Industrial Boilers Market, highlighting the importance of end-user applications in advancing technological capabilities and enhancing operational effectiveness across multiple sectors.

    Get more detailed insights about South Korea Industrial Boilers Market Research Report- Forecast to 2035

    Regional Insights

    Key Players and Competitive Insights

    The South Korea Industrial Boilers Market showcases a dynamic environment characterized by fierce competition among various players. As industries increasingly focus on energy efficiency, sustainability, and regulatory compliance, the demand for advanced boiler technologies has surged. The market features a diverse range of products designed to meet the needs of different sectors, including manufacturing, power generation, and utilities. This competitive landscape is marked by innovation and technological advancements, with companies vying to enhance their product offerings and capture a larger market share. 

    The ongoing push towards clean energy solutions further intensifies competition, as firms are compelled to adopt green technologies and reduce emissions while maintaining operational efficiency.In this backdrop, POSCO Energy stands out as a major player in the South Korean Industrial Boilers Market. The company has built a strong market position by leveraging its significant experience and expertise in energy solutions. One of its key assets is its ability to supply cutting-edge boiler systems that include sophisticated technology, resulting in increased efficiency and fewer emissions. 

    The company is also known for its research and development programs, which focus on continuous improvement and innovation in boiler design. POSCO Energy has deliberately positioned itself by focusing on environmentally friendly solutions, therefore matching its products with the country's growing emphasis on sustainability and environmental stewardship.

    Jeil Engineering, another notable entity in the South Korea Industrial Boilers Market, specializes in manufacturing and providing boiler systems tailored to meet diverse industrial needs. The company is recognized for its high-quality products, which are engineered to operate with optimal efficiency and reliability. Jeil Engineering’s market presence is bolstered by its comprehensive portfolio, including various types of boilers designed for different applications, such as steam generation and thermal oil systems. 

    The firm has effectively adapted to changing market demands through strategic mergers and acquisitions, enhancing its technological capabilities and expanding its operational footprint. By focusing on delivering innovative solutions and exceptional customer support, Jeil Engineering continues to strengthen its position in the competitive landscape of South Korea’s industrial boiler sector.

    Key Companies in the South Korea Industrial Boilers Market market include

    Industry Developments

    The South Korea Industrial Boilers Market has seen several noteworthy developments recently. In October 2023, Doosan Heavy Industries and Construction announced a new partnership with LG International Corp to jointly develop advanced boiler technologies aimed at enhancing energy efficiency. POSCO Energy is focusing on expanding its market footprint by investing heavily in Research and Development for eco-friendly boiler solutions, which aligns with the country's push towards sustainable energy practices. Hanil Engineering and Construction secured a significant contract to supply industrial boilers for a major petrochemical project in Ulsan, highlighting ongoing infrastructure investments in the region. 

    In September 2023, Daelim Industrial reported a growth in its market valuation, directly contributing to increasing competition among key players such as Hyundai Engineering and Construction and SK Engineering and Construction. The last couple of years saw merger and acquisition activities, including Iljin Engineering acquiring a smaller firm to boost its capabilities in large-scale project execution. This increasing consolidation in the market reflects the evolving dynamics and the demand for innovative solutions within South Korea's industrial sector.

    Market Segmentation

    Industrial Boilers Market Fuel Outlook

    • Natural Gas
    • Coal
    • Oil
    • Others

    Industrial Boilers Market End-User Outlook

    • Food & Beverages
    • Chemicals
    • Metal
    • Plastic
    • Textile
    • Wood
    • Paper
    • District heating
    • Others

    Industrial Boilers Market Boiler type Outlook

    • Fire-Tube
    • Water-Tube

    Industrial Boilers Market Rated Capacity Outlook

    • 0.1 to 0.35 MW
    • 0.35 to 0.7 MW
    • 0.7 MW to 1 MW

    Report Scope

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 187.2(USD Million)
    MARKET SIZE 2024 204.0(USD Million)
    MARKET SIZE 2035 612.0(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 10.503% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Million
    KEY COMPANIES PROFILED POSCO Energy, Jeil Engineering, Hanil Engineering & Construction, Hyundai Engineering & Construction, Daelim Industrial, Taekyung Engineering, Doosan Heavy Industries & Construction, SK Engineering & Construction, Hanjin Heavy Industries, Geumgang Engineering, Sungjin Tech, LG International Corp, Samsung C&T Corporation, KT Corporation, Iljin Engineering
    SEGMENTS COVERED Fuel, Boiler type, Rated Capacity, End-User
    KEY MARKET OPPORTUNITIES Increasing demand for energy efficiency, Growth in renewable energy integration, Expansion in food processing sector, Government regulations on emissions, Advancements in boiler technology
    KEY MARKET DYNAMICS growing energy efficiency regulations, increasing industrialization and urbanization, rise in renewable energy adoption, demand for process steam applications, focus on emissions reduction technologies
    COUNTRIES COVERED South Korea

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    What is the expected market valuation of the South Korea Industrial Boilers Market in 2024?

    The South Korea Industrial Boilers Market is expected to be valued at 204.0 million USD in 2024.

    What will be the market size of the South Korea Industrial Boilers Market by 2035?

    By 2035, the South Korea Industrial Boilers Market is projected to reach a valuation of 612.0 million USD.

    What is the expected CAGR for the South Korea Industrial Boilers Market from 2025 to 2035?

    The expected CAGR for the South Korea Industrial Boilers Market from 2025 to 2035 is 10.503%.

    Which sub-segment of fuel will have the highest market value by 2035?

    The Natural Gas sub-segment is projected to have the highest market value at 276.0 million USD by 2035.

    What will the market value for Coal in the South Korea Industrial Boilers Market be in 2024?

    The market value for Coal in the South Korea Industrial Boilers Market is expected to be 63.0 million USD in 2024.

    Who are the key players in the South Korea Industrial Boilers Market?

    Key players in the South Korea Industrial Boilers Market include POSCO Energy, Doosan Heavy Industries, and Hyundai Engineering & Construction, among others.

    What is the projected market size for Oil in the South Korea Industrial Boilers Market by 2035?

    The projected market size for Oil in the South Korea Industrial Boilers Market is expected to be 114.0 million USD by 2035.

    What are the challenges facing the South Korea Industrial Boilers Market?

    Challenges in the South Korea Industrial Boilers Market include regulatory changes and the need for technological advancements.

    What opportunities are present for growth in the South Korea Industrial Boilers Market?

    There are opportunities for growth in the South Korea Industrial Boilers Market due to increasing demand for energy-efficient technologies.

    How does the growth of the South Korea Industrial Boilers Market compare to global trends?

    The South Korea Industrial Boilers Market is expected to grow robustly, reflecting positive global trends in industrial heating solutions.

    1. Primary Interviews and Information Gathering Process 3.4.2. Breakdown of Primary
    2. Respondents 3.5. Forecasting Model 3.6. Market Size Estimation 3.6.1. Bottom-Up
    3. Approach 3.6.2. Top-Down Approach 3.7. Data Triangulation 3.8. Validation 4. MARKET
    4. DYNAMICS 4.1. Overview 4.2. Drivers 4.3. Restraints 4.4. Opportunities 5. MARKET FACTOR ANALYSIS 5.1. Value chain Analysis 5.2. Porter's Five Forces Analysis 5.2.1.
    5. Bargaining Power of Suppliers 5.2.2. Bargaining Power of Buyers 5.2.3. Threat of
    6. New Entrants 5.2.4. Threat of Substitutes 5.2.5. Intensity of Rivalry 5.3. COVID-19
    7. Impact Analysis 5.3.1. Market Impact Analysis 5.3.2. Regional Impact 5.3.3. Opportunity
    8. and Threat Analysis 6. SOUTH KOREA INDUSTRIAL BOILERS MARKET, BY FUEL (USD MILLION)
      1. Natural Gas 6.2. Coal 6.3. Oil 6.4. Others 7. SOUTH KOREA INDUSTRIAL BOILERS
    9. MARKET, BY BOILER TYPE (USD MILLION) 7.1. Fire-Tube 7.2. Water-Tube 8. SOUTH KOREA
    10. INDUSTRIAL BOILERS MARKET, BY RATED CAPACITY (USD MILLION) 8.1. 0.1 to 0.35 MW 8.2.
      1. to 0.7 MW 8.3. 0.7 MW to 1 MW 9. SOUTH KOREA INDUSTRIAL BOILERS MARKET, BY
    11. END-USER (USD MILLION) 9.1. Food & Beverages 9.2. Chemicals 9.3. Metal 9.4.
    12. Plastic 9.5. Textile 9.6. Wood 9.7. Paper 9.8. District heating 9.9. Others 10.
    13. COMPETITIVE LANDSCAPE 10.1. Overview 10.2. Competitive Analysis 10.3. Market share
    14. Analysis 10.4. Major Growth Strategy in the Industrial Boilers Market 10.5. Competitive
    15. Benchmarking 10.6. Leading Players in Terms of Number of Developments in the Industrial
    16. Boilers Market 10.7. Key developments and growth strategies 10.7.1. New Product
    17. Launch/Service Deployment 10.7.2. Merger & Acquisitions 10.7.3. Joint Ventures
      1. Major Players Financial Matrix 10.8.1. Sales and Operating Income 10.8.2.
    18. Major Players R&D Expenditure. 2023 11. COMPANY PROFILES 11.1. POSCO Energy
      1. Financial Overview 11.1.2. Products Offered 11.1.3. Key Developments 11.1.4.
    19. SWOT Analysis 11.1.5. Key Strategies 11.2. Jeil Engineering 11.2.1. Financial Overview
      1. Products Offered 11.2.3. Key Developments 11.2.4. SWOT Analysis 11.2.5.
    20. Key Strategies 11.3. Hanil Engineering & Construction 11.3.1. Financial Overview
      1. Products Offered 11.3.3. Key Developments 11.3.4. SWOT Analysis 11.3.5.
    21. Key Strategies 11.4. Hyundai Engineering & Construction 11.4.1. Financial Overview
      1. Products Offered 11.4.3. Key Developments 11.4.4. SWOT Analysis 11.4.5.
    22. Key Strategies 11.5. Daelim Industrial 11.5.1. Financial Overview 11.5.2. Products
    23. Offered 11.5.3. Key Developments 11.5.4. SWOT Analysis 11.5.5. Key Strategies 11.6.
    24. Taekyung Engineering 11.6.1. Financial Overview 11.6.2. Products Offered 11.6.3.
    25. Key Developments 11.6.4. SWOT Analysis 11.6.5. Key Strategies 11.7. Doosan Heavy
    26. Industries & Construction 11.7.1. Financial Overview 11.7.2. Products Offered
      1. Key Developments 11.7.4. SWOT Analysis 11.7.5. Key Strategies 11.8. SK Engineering
    27. & Construction 11.8.1. Financial Overview 11.8.2. Products Offered 11.8.3. Key
    28. Developments 11.8.4. SWOT Analysis 11.8.5. Key Strategies 11.9. Hanjin Heavy Industries
      1. Financial Overview 11.9.2. Products Offered 11.9.3. Key Developments 11.9.4.
    29. SWOT Analysis 11.9.5. Key Strategies 11.10. Geumgang Engineering 11.10.1. Financial
    30. Overview 11.10.2. Products Offered 11.10.3. Key Developments 11.10.4. SWOT Analysis
      1. Key Strategies 11.11. Sungjin Tech 11.11.1. Financial Overview 11.11.2.
    31. Products Offered 11.11.3. Key Developments 11.11.4. SWOT Analysis 11.11.5. Key Strategies
      1. LG International Corp 11.12.1. Financial Overview 11.12.2. Products Offered
        1. Key Developments 11.12.4. SWOT Analysis 11.12.5. Key Strategies 11.13.
    32. Samsung C&T Corporation 11.13.1. Financial Overview 11.13.2. Products Offered
      1. Key Developments 11.13.4. SWOT Analysis 11.13.5. Key Strategies 11.14.
    33. KT Corporation 11.14.1. Financial Overview 11.14.2. Products Offered 11.14.3. Key
    34. Developments 11.14.4. SWOT Analysis 11.14.5. Key Strategies 11.15. Iljin Engineering
      1. Financial Overview 11.15.2. Products Offered 11.15.3. Key Developments
        1. SWOT Analysis 11.15.5. Key Strategies 12. APPENDIX 12.1. References 12.2.
    35. Related Reports LIST OF TABLESTABLE 1. LIST OF ASSUMPTIONS TABLE 2. SOUTH KOREA
    36. INDUSTRIAL BOILERS MARKET SIZE ESTIMATES & FORECAST, BY FUEL, 2019-2035 (USD
    37. BILLIONS) TABLE 3. SOUTH KOREA INDUSTRIAL BOILERS MARKET SIZE ESTIMATES & FORECAST,
    38. BY BOILER TYPE, 2019-2035 (USD BILLIONS) TABLE 4. SOUTH KOREA INDUSTRIAL BOILERS
    39. MARKET SIZE ESTIMATES & FORECAST, BY RATED CAPACITY, 2019-2035 (USD BILLIONS)
    40. END-USER, 2019-2035 (USD BILLIONS) TABLE 6. PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    41. SOUTH KOREA INDUSTRIAL BOILERS MARKET ANALYSIS BY FUEL FIGURE 3. SOUTH KOREA
    42. INDUSTRIAL BOILERS MARKET ANALYSIS BY BOILER TYPE FIGURE 4. SOUTH KOREA INDUSTRIAL
    43. BOILERS MARKET ANALYSIS BY RATED CAPACITY FIGURE 5. SOUTH KOREA INDUSTRIAL BOILERS
    44. MARKET ANALYSIS BY END-USER FIGURE 6. KEY BUYING CRITERIA OF INDUSTRIAL BOILERS
    45. MARKET FIGURE 7. RESEARCH PROCESS OF MRFR FIGURE 8. DRO ANALYSIS OF INDUSTRIAL BOILERS
    46. MARKET FIGURE 9. DRIVERS IMPACT ANALYSIS: INDUSTRIAL BOILERS MARKET FIGURE 10. RESTRAINTS
    47. IMPACT ANALYSIS: INDUSTRIAL BOILERS MARKET FIGURE 11. SUPPLY / VALUE CHAIN: INDUSTRIAL
    48. BOILERS MARKET FIGURE 12. INDUSTRIAL BOILERS MARKET, BY FUEL, 2025 (% SHARE) FIGURE
    49. INDUSTRIAL BOILERS MARKET, BY FUEL, 2019 TO 2035 (USD Billions) FIGURE 14. INDUSTRIAL
    50. BOILERS MARKET, BY BOILER TYPE, 2025 (% SHARE) FIGURE 15. INDUSTRIAL BOILERS MARKET,
    51. BY BOILER TYPE, 2019 TO 2035 (USD Billions) FIGURE 16. INDUSTRIAL BOILERS MARKET,
    52. BY RATED CAPACITY, 2025 (% SHARE) FIGURE 17. INDUSTRIAL BOILERS MARKET, BY RATED
    53. CAPACITY, 2019 TO 2035 (USD Billions) FIGURE 18. INDUSTRIAL BOILERS MARKET, BY END-USER,
    54. (% SHARE) FIGURE 19. INDUSTRIAL BOILERS MARKET, BY END-USER, 2019 TO 2035 (USD
    55. Billions) FIGURE 20. BENCHMARKING OF MAJOR COMPETITORS

    South Korea Industrial Boilers Market Segmentation

     

     

     

    • Industrial Boilers Market By Fuel (USD Million, 2019-2035)

      • Natural Gas

      • Coal

      • Oil

      • Others

    • Industrial Boilers Market By Boiler type (USD Million, 2019-2035)

      • Fire-Tube

      • Water-Tube

    • Industrial Boilers Market By Rated Capacity (USD Million, 2019-2035)

      • 0.1 to 0.35 MW

      • 0.35 to 0.7 MW

      • 0.7 MW to 1 MW

    • Industrial Boilers Market By End-User (USD Million, 2019-2035)

      • Food & Beverages

      • Chemicals

      • Metal

      • Plastic

      • Textile

      • Wood

      • Paper

      • District heating

      • Others

     

     

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