Steam Boiler Systems - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Steam Boiler Systems Market is accounted for $18.77 billion in 2019 and is expected to reach $30.60 billion by 2027 growing at a CAGR of 6.3% during the forecast period. Some of the key factors propelling the market growth include rapid increasing demand for the electricity, increased usage of steam boilers across various end-user industries, and favorable government initiatives for the usage of steam boilers systems and providing incentives in terms of subsidies. However, high costs associated with the installation of the steam boiler system are likely to hamper the market.
Steam boiler systems are devices that are used to create steam by applying heat energy to water. It is an efficient way to generate and move steam across the plant for things such as heat, processing and power generation. Water placed in a steam boiler is heated using a fuel source after that the boiling water produces steam. The resulting steam is then moved through pipes around a plant to do the function it’s designed to perform. These boiler systems are used in several industries such as power plants, refineries, and others, it is also used as generators to produce electricity.
By type, the water tube boilers segment is projected to grow at the significant rate during the forecast period, due to the rise in the consumption of electricity and increasing energy prices. Water-tube boilers are more efficient than fire-tube boilers. Water tube boilers have larger boiler capacities, higher pressure levels, and the ability to provide high steam temperatures of up to 650 °C. Such boilers are mostly used in power generation utilities.
Amongst geography, the Asia Pacific led the global steam boiler system market during the forecast period, due to growing massive investments in the manufacturing industries in order to meet rapidly growing demand for electricity in countries such as China, India, and Japan in the region. Power plants are one of the major end-users of steam boiler systems in China. The country is one of the largest consumers of electricity in the world and to meet the growing demand for power; it is investing heavily in setting up new plants across all provinces to ensure steady power supply across industries.
Some of the key players in Steam Boiler Systems Market include Vapor Power International, Alfa Laval, Forbes Marshall, Fulton, Mitsubishi, Parker Boiler, Rentech Boilers, Bosch, GE, Thermodyne Engineering System, Viessmann, Zhengzhou Boiler (Group) Co., Ltd., Byworth Boilers, Cleaver-Brooks, Doosan Heavy Industries & Construction, Devotion Machineries, Bhel, and Siemens.
• Fire Tube Boiler
• Water Tube Boiler
• Air Preheater
• Feed Pump
• Biomass-fired Steam Boiler
• Oil-fired Steam Boiler
• Coal-fired Steam Boiler
• Gas-fired Steam Boiler
• Electric Steam Boiler
• Steam Engines (Locomotives)
• Cement Production
End Users Covered:
• Process Industry
• Primary Metals
• Chemical Manufacturing
• Power Generation
• Oil & Gas Processing
• Thermal Power Plants
• Food and Beverage
• Refineries and Petrochemicals
• Pharmaceutical & Healthcare
• Pulp & Paper Production
Sales Channels Covered:
• Distribution Channel
• Direct Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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