Top 10 Boiler Manufacturers in the World in 2021 by Revenue

Mitsui & Co Ltd, Siemens AG, Mitsubishi Heavy Industries Ltd, Siemens Energy AG, and ABB Ltd are the top 5 boiler manufacturers in the world in 2021 by revenue. Cumulatively, the top 10 boiler manufacturers in the world generated revenue of $322,328 million, with average revenue growth of 10.1%, with the highest revenue being generated by Mitsui & Co Ltd ($75,557.49 million), followed by Siemens AG ($62,989.06 million) and Mitsubishi Heavy Industries Ltd ($34,900.18 million). 5 out of the top 10 reported revenue growth in 2021, with the highest revenue growth being registered by Alstom SA (76.1%), followed by Siemens AG (14.8%), while the companies Mitsubishi Heavy Industries Ltd, and Mitsui & Co Ltd had a revenue decline of 8.5%, and 5.6% respectively. In terms of the geographical split, 6 out of 10 of the world’s major boiler manufacturers are based in Europe, while 4 are based in the Asia-Pacific. They employed a total of 828,285 people in 2021. Japan-based Mitsui & Co Ltd is the leading boiler manufacturer in the world (by revenue). The company reported revenues of $75,557.49 million for the fiscal year ended March 2021 (FY2021), a decline of 5.59% over FY2020 due to the COVID-19 pandemic. The company distributes, purchases, markets, and supplies a wide variety of products in business areas including iron and steel; non-ferrous metals; machinery; electronics; chemicals; energy-related commodities; foods & retail, lifestyle, and consumer service. The company had over 280 subsidiaries at the end of FY2021. As of March 2021, Mitsui operates globally through a network of 132 offices in 64 countries and employs 44,509 people in FY2021. Siemens AG (Siemens) is another leading boiler manufacturer in the world (by revenue), it is a conglomerate, which has operations in the electrification, automation, and digitalization fields. It offers power generation, power transmission, and infrastructure solutions; automation, drive, and software solutions; and medical diagnostic solutions. The company serves customers in the industry, energy, healthcare, infrastructure, and cities sectors. The company reported revenues of $70,982 million for the fiscal year ended September 2021 (FY2021), an increase of 12.7% over FY2020.