Steam Boiler Systems Market Study for 2022 to 2028 Providing Information on Growth Drivers, and Industry Analysis

Steam Boiler Systems Market Study for 2022 to 2028 Providing Information on Growth Drivers, and Industry Analysis

Global Steam Boiler Systems Market was valued at USD 19 billion in 2021 and is expected to reach USD 22.90 billion by the year 2028, at a CAGR of 2.7%.  

A steam boiler is a vessel, it is commonly made of steel, water is heated to get steam, and heat is produced by the combustion of fuel. Boilers come in different shapes and sizes but their purpose is the same. The ultimate aim of a steam boiler system is to generate steam by boiling the water. There are mainly two types of boilers Fire tube and water tube boilers. In the Fire tube boiler, the fire is inside the tube and in the Water, tube boiler water is inside the tube. The minimum capacity of a steam boiler is containing 10 liters of water. All boilers give heat to the water which is further converted into steam and goes to perform various activities in industries. Open and closed are the two kinds of boiler systems, in a closed system, 100 percent of the steam in the form of water is returned to the vessel due to this the water can be reused for the second cycle. This is more efficient and required less cost for the operation. There are some industries like hospitals, labs, research, and manufacturing industries which do not use the same water to produce steam for the second cycle because there is a risk of contamination. The fuels used in this device are different depending on the user. The use of steam boiler systems for different activities like offices, businesses, households, and other facilities, is the key driver of the steam boiler systems market.

The steam boiler system market, by type, is segmented into water-tube boiler and fire-tube boiler. The water-tube boiler segment is expected to be the largest market for the steam boiler system by 2023. Water-tube boilers provide higher efficiency and can produce high-temperature steam suitable for power generation utilities. Increase in capacity addition to meet the rise in demand for power would drive the water-tube boiler segment during the forecast period.

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Key Industry Players in the Steam Boiler Systems Market:

  • Alfa Laval Ab
  • Thermax Limited
  • IHI Corporation
  • Babcock & Wilcox Enterprises, Inc.
  • Forbes Marshall
  • Bharat Heavy Electricals Limited
  • Harbin Electric Group (China)
  • General Electric
  • Hurst Boiler & Welding Co, Inc.
  • AC Boilers
  • Siemens
  • Mitsubishi Heavy Industries, Ltd.
  • Thyssenkrupp Ag
  • Viessmann Limited and other major players.

 The global steam boiler market is segmented into type, fuel type, pressure, end-use industry, and region. Depending on type, the market is bifurcated into water tube boiler and fire tube boiler. On the basis of fuel type, it is categorized into coal fired, oil fired, gas fired, and others. By pressure, it is classified into low pressure and high pressure. Based on end-use industry, it is fragmented into power generation, oil & gas, chemical, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segmentation Analysis Includes,

By Type:

  • Water Tube
  • Fire Tube

By End-User:

  • Power Generation
  • Food Industries
  • Refineries
  • Others

By Region:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

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Key Benefits:

  • The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the market from 2020 to 2027 to determine the prevailing opportunities.
  • A comprehensive analysis of the factors that drive and restrict the market growth is provided.
  • Estimations and forecast are based on factors impacting the growth, in terms of value.
  • Profiles of leading players operating in the steam boiler market are provided to understand the global competitive scenario.
  • The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable steam boiler market growth.

Lockdowns imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries, which decreased the demand for electricity from consumers. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the steam boiler market is expected to recover by the first quarter of 2021 as the demand for electricity from industries and individual customers (residential and commercial) increases.

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Steam boilers are used in various industries as power source which results in the growth of the steam boiler. Easy installation, low maintenance cost, mobile and flexible features of steam boiler makes it one of the best choices. From power generation to industrial process heating, steam boilers are employed in the wide industrial area which drive the market of steam boiler.

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