Thermodyne Engineering Systems
Thermodyne Engineering Systems is an Indian manufacturer of industrial steam boilers, thermic fluid heaters, hot water/air generators, and waste heat recovery systems serving process industries including rice mills, plywood, dairy, pharmaceuticals, food processing, textiles, chemicals, and hospitality across India via direct enterprise sales.
- Company typePrivate
- Founded2001
- HeadquartersGhaziabad, India
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
What Thermodyne Engineering Systems does
Thermodyne Engineering Systems is an Indian industrial equipment manufacturer founded in 2001 and headquartered in Ghaziabad, Uttar Pradesh, with a secondary manufacturing facility in Alwar, Rajasthan. The company designs, manufactures, and supplies industrial and commercial steam boilers, thermic fluid heaters, hot water generators, hot air generators, and waste heat recovery systems, alongside accessory lines such as steam accumulators, condensate recovery modules, economisers, air preheaters, scrubbers, bag filters, and Zincalume / PESO-certified process tanks. Its proprietary Combitherm platform combines water-tube and smoke-tube architectures in a single hybrid unit with membrane-wall construction, with capacity ranging from 100 kg/hr small industrial units up to 25 TPH high-pressure Powertherm units, and additional offerings in electrode-based electric boilers (Electra, 98% efficiency) and waste heat recovery (Wastetherm).
The company serves process industries across India including rice mills, plywood, dairy, pharmaceuticals, food processing, textiles, chemicals, hospitality, and energy-intensive manufacturing, with named customers spanning ISRO, Reliance, Havells, Mother Dairy, Rajiv Gandhi Cancer Institute, The Leela, and Sonata. Its customer base exceeds 2,000 active accounts with more than 2,500 cumulative successful installations, and it holds IBR, ISO 9001, PESO, and ZED Silver certifications. Leadership is founder-led (Ashwani Setia as Founder/Owner/CEO with Chief Mentor Jyoti Setia), supported by a long-tenured senior team (27-34 years industry experience), a regional Area Sales Manager field force, and a dedicated Manager - International Business.
Thermodyne generates revenue primarily through quote-based hardware sales of capital equipment, complemented by recurring Annual Maintenance Contracts, troubleshooting, expert consultancy, and installation services. Distribution is via direct enterprise field sales with regional coverage across India and select international outreach; marketing is content-led through its Boiler Bible guide, online calculators (e.g., Rice Mill Boiler Calculator), case studies, technical videos, and active social channels. The business model is one of project-based equipment revenue with limited recurring aftermarket monetization, and there is no disclosed external funding or M&A activity.
Thermodyne Engineering Systems firmographics
Firmographics- Name
- Thermodyne Engineering Systems
- Legal name
- Thermodyne Engineering Systems
- Website
- https://thermodyneboilers.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Thermodyne Engineering Systems is an Indian manufacturer of industrial steam boilers, thermic fluid heaters, hot water/air generators, and waste heat recovery systems serving process industries including rice mills, plywood, dairy, pharmaceuticals, food processing, textiles, chemicals, and hospitality across India via direct enterprise sales.
- Ownership category
- akta.pro rank
Thermodyne Engineering Systems industry classification
Industry- Product category
- Industrial Steam Boilers
- NAICS
- Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)
- SIC
- Heating Equipment, Except Electric & Warm Air Furnaces (3433), Fabricated Plate Work (Boiler Shops) (3443)
- akta.pro primary industry
- Industrial Boilers, HRSGs & Steam Generators (IMAHAFAF)
- akta.pro secondary industries
- Boilers, Furnaces & Process Heating Equipment (IMAHAKAD), Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Industrial Biomass Boilers & Steam Systems (Process Heat) (EUAAAGAC)
Keywords
Where Thermodyne Engineering Systems is headquartered
LocationHeadquarters
- HQ city
- Ghaziabad
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Thermodyne Engineering Systems business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Industrial Boiler Manufacturing and Sales: Thermodyne generates revenue through the design, manufacture, and sale of industrial steam boilers including Combitherm, Combitherm Ultra, Electra, Powertherm, Intech, Revosteam, Savemax, and Small Industrial Boilers. Revenue is primarily one-time capital equipment sales with potential for aftermarket services including AMC (Annual Maintenance Contracts), spare parts, and troubleshooting services.
- Heating Equipment Sales: Sales of thermic fluid heaters (Fluidtherm), hot water generators (Instatherm), electric hot water generators, and hot air generators (Thermair). These products serve process heating needs across various industries.
- Storage Solutions and Accessories: Revenue from Zincalume water storage tanks, process tanks, and boiler accessories including steam accumulators, pressurized condensate recovery modules, economisers, pressure reducing systems, industrial chimneys, air preheaters, wet scrubbers, and bag filters.
- After-Sales Services and AMC: Annual Maintenance Contracts (AMC), troubleshooting, expert consultancy, and installation services provide recurring service revenue streams.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Industrial boilers available in various capacity ranges from 100 kg/hr to 25 TPH |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Thermodyne Engineering Systems product offering
Product offeringCore offering
Thermodyne Engineering Systems designs, manufactures, and supplies industrial steam boilers (water tube, smoke tube, combination/hybrid, electrode, and coil type designs) along with thermic fluid heaters, hot water generators, hot air generators, waste heat recovery systems, and a complete range of boiler accessories and storage tanks. The company serves process industries in India with custom-engineered heating solutions, fuel flexibility across solid fuels, oils, gases, and electricity, and after-sales support including Annual Maintenance Contracts, troubleshooting, and installation services.
Product overview
Thermodyne Engineering Systems is a manufacturer of industrial steam boilers and heating solutions offering a comprehensive portfolio of products organized into three main categories: Steam Boilers (including Combitherm, Combitherm Ultra, Electra, Powertherm, Intech, Revosteam, Savemax, and Small Industrial Boilers), Heaters (including Hot Water Generators, Electric Hot Water Generators, Thermic Fluid Heaters, and Hot Air Generators), and Accessories (including Waste Heat Recovery, Storage Tanks, Steam Accumulators, Condensate Recovery, Economisers, Pressure Reducing Systems, Chimneys, Air Preheaters, and Pollution Control equipment). The company also provides PESO-certified Process Tanks. With over 2500 installations, their products serve industries including food processing, rice mills, plywood, pharmaceuticals, textiles, chemicals, and dairy.
Differentiator
Problem solved
Functional benefit
Brands
- Combitherm: Combi boiler featuring hybrid water tube and smoke tube design, combining elements of both for superior efficiency and fuel flexibility. Capacity range: 1 TPH to 20 TPH.
- Combitherm Ultra
- Electra
- Powertherm
- Intech
- Revosteam
- Savemax
- Small Industrial Boiler (SIB)
- Instatherm
- Electric Hot Water Generator
- Fluidtherm
- Thermair
- Wastetherm
- Zincalume Water Storage Tanks
Products and services
- Combitherm Steam Boiler
Quantifiable outcome
- 82-85% thermal efficiency with Combitherm boiler and air preheater combination
- +6 more outcomes
Companies that use Thermodyne Engineering Systems
Customer profileNamed customers7 records
Segments10 records
Ideal customer profiles7 records
Thermodyne Engineering Systems technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature11 records
Thermodyne Engineering Systems partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
Thermodyne Engineering Systems competitors and assessment
Company assessmentBroad incumbents
- Isgec Heavy Engineering: Large Indian heavy engineering company manufacturing industrial boilers, process equipment, and pressure vessels. Operates as a broader incumbent with EPC capabilities and diversified industrial exposure.
- Bosch Industriekessel: European industrial boiler manufacturer offering steam boilers, heating systems, and waste heat recovery for industrial customers. Comparable product set though operating primarily in European markets with much larger scale.
- Cleaver-Brooks: Global manufacturer of packaged boilers, burners, and boiler room systems serving industrial and commercial customers. Comparable product portfolio (firetube, watertube, electric, waste heat) though with primarily global/enterprise distribution.
- Babcock & Wilcox: Global industrial steam generation and heat exchange specialist with extensive boiler portfolio. Sells into power and process industries with significantly larger scale and broader geographic reach than Thermodyne.
Direct peers
- Fulton Boiler Works: Specialized manufacturer of industrial and commercial boilers, including electric and oil/gas-fired units. Comparable in product depth (though smaller and US-centric) and serves similar industrial process customers.
- Hurst Boiler & Welding: Manufacturer of biomass, gas, oil, and coal-fired boilers for industrial process heating. Overlaps with Thermodyne's solid-fuel and multi-fuel boiler product lines and waste heat recovery solutions.
- Cheema Boilers: Indian industrial boiler manufacturer producing water tube, smoke tube, and packaged boilers for rice mills, plywood, textile, and process industries — directly overlapping with Thermodyne's core verticals and product mix.
- Forbes Marshall: Established Indian manufacturer of packaged steam boilers, thermic fluid heaters, and process heating solutions serving process industries including textiles, pharmaceuticals, and chemicals. Direct competitor with a longer operating history and larger installed base.
- Thermax Limited: India's largest listed industrial boiler and heating solutions provider, offering steam boilers, thermic fluid heaters, and waste heat recovery systems to the same industrial process verticals as Thermodyne. Direct competitor across nearly every product category Thermodyne manufactures.
Regional players
- Cochran (Armstrong) Boilers: UK-based boiler manufacturer producing firetube and waste heat recovery boilers for industrial and process applications. Comparable product category but focused on UK and European markets vs. Thermodyne's India focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Thermodyne Engineering Systems social profiles
Digital presenceThermodyne Engineering Systems compliance and trust
Trust signalCompliance4 records
Thermodyne Engineering Systems financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thermodyne Engineering Systems leadership team
Management profileNumber of profiles
Profiles13 records
Thermodyne Engineering Systems funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thermodyne Engineering Systems M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Thermodyne Engineering Systems
What does Thermodyne Engineering Systems do?
Thermodyne Engineering Systems designs, manufactures, and supplies industrial steam boilers (water tube, smoke tube, combination/hybrid, electrode, and coil type designs) along with thermic fluid heaters, hot water generators, hot air generators, waste heat recovery systems, and a complete range of boiler accessories and storage tanks. The company serves process industries in India with custom-engineered heating solutions, fuel flexibility across solid fuels, oils, gases, and electricity, and after-sales support including Annual Maintenance Contracts, troubleshooting, and installation services.
Is Thermodyne Engineering Systems a public or private company?
Thermodyne Engineering Systems is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Thermodyne Engineering Systems founded?
Thermodyne Engineering Systems was founded in 2001. It employs 251 to 500 people.
Where is Thermodyne Engineering Systems based?
Thermodyne Engineering Systems is headquartered in Ghaziabad, India, in the Asia region.
How does Thermodyne Engineering Systems make money?
Four revenue lines are on record. Industrial Boiler Manufacturing and Sales are the primary driver. The others are heating Equipment Sales, storage Solutions and Accessories and after-Sales Services and AMC.
Who are Thermodyne Engineering Systems's main competitors?
Broad incumbents on record are Isgec Heavy Engineering, Bosch Industriekessel, Cleaver-Brooks and Babcock & Wilcox. Direct peers are Fulton Boiler Works, Hurst Boiler & Welding, Cheema Boilers, Forbes Marshall and Thermax Limited. Cochran (Armstrong) Boilers is listed as a regional player.
Does Thermodyne Engineering Systems have an API?
No public API is recorded for Thermodyne Engineering Systems.
What industry is Thermodyne Engineering Systems in?
Thermodyne Engineering Systems's product category is Industrial Steam Boilers. Its primary akta.pro industry code is IMAHAFAF, Industrial Boilers, HRSGs & Steam Generators, with a secondary code of IMAHAKAD, Boilers, Furnaces & Process Heating Equipment. Its NAICS code is 33241 and its SIC code is 3433.