Many industrial chimneys have been constructed during the Industrial Revolution in the past decades. In India, large number of industrial chimneys are located in various industrial areas. The main objective of these chimneys is the evacuation of combustion gases. With the passage of time, these chimneys are either deteriorated or fully/partially damaged. Few of such chimneys are located near rural or urban living areas and surrounded by dwellings, which can pose a threat to the safety of the people living nearby. Most of the industrial chimneys are slender and act as cantilever structures which has hollow core cross sections of varying height. These chimneys are designed to sustain their own weight as well as lateral forces. Due to its circular shape, it reduces the impact of wind forces on the structure. However, most of the original designs of chimneys did not consider the effects of seismic forces. Due to these seismic forces, tensile stresses may be generated in the chimney. In this paper, a parametric study is performed for brick masonry chimney structures for varying heights under the effects of self-weight, wind force, and seismic force. The effect of wind and/or seismic forces mainly depends on the self-weight and height of the chimney. The results indicate that the tensile forces generated by the seismic effects can lead to the brittle failure of chimneys as the tensile stresses cross their permissible limits. Higher moments are generated from seismic and/or wind loads due to the lesser cross-sectional area and thereby the lesser self-weight of the masonry chimney. Based on the results of tensile stresses on chimney structures, the paper broadly discusses various techniques for retrofitting of such masonry chimney structures.