Steam Boiler Market Analysis
The global steam boiler market is
estimated to expand at 4.10% CAGR during the forecast period. Steam boiler is majorly used in process
industries to deliver heat to industrial and chemical processes. Increasing
investments in chemical, food & beverage, pharmaceutical, and other process
industries would drive the growth of steam boiler market. Similarly, huge
requirement of steam boilers for heating buildings and producing hot water
supply would drive the steam boiler market.
The growing demand for steam boiler
market is attributed to the rapid increase in the demand for electricity.
Moreover, capacity addition in power plants is also driving the market for
steam boiler. One of the major restraints of the global steam boiler is focus
on renewable energy resources for power generation.
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Steam boiler is a closed vessel
used to create steam by applying heat energy to water. The fluid heated under
pressure inside the steam boiler is then circulated out of the boiler for use
in various applications such as power generation. The main purpose of steam
boiler is to generate power in steam engines and steam turbines. It is also
used for heating the buildings in cold weather and for producing hot water for
hot water supply.
Industry
Segmentation
The market for steam boiler market
is segmented based on type as water-tube boiler and fire-tube boiler.
Water-tube steam boiler segment dominates the market as these boilers provide
higher efficiency and also produce high-temperature steam which is suitable for
power utilities. Asia-Pacific is expected to hold the largest share for
water-tube steam boiler which is mainly driven by investments in power
generation sector that are being made in countries such as China, Japan, and
India.
Regional
Outlook
Region wise, Asia Pacific held the
largest market share of the global steam boiler market in 2017. It is estimated
that Asia-Pacific region would be the fastest growing market during the
forecast period, mainly due to the growing demand for power and rising
investment in setting new power generation plants. China is expected to lead
the Asia Pacific steam boiler market during the forecast period and is
projected to grow at the highest CAGR from 2018 to 2023. The Chinese and Indian
markets are projected to be among the fastest-growing economies during the
forecast period. These countries are estimated to account for nearly 70% of all
the proposed thermal power capacity addition during the same period.
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Leading
Players
The key players of the global Steam
boiler market are GE (US), Bosch (Germany), Thermax (India), Cleaver-Brooks
(US), Byworth Boilers (US), Doosan Heavy Industries & Construction (South
Korea), Forbes Marshall (India), Fulton Boiler (US), Parker Boiler (US),
Rentech Boilers (US), Thermodyne Engineering Systems (India).
Scope
of the Report
This research report provides
insights into various levels of analysis, such as industry analysis and market
share analysis for the leading industry competitors, along with their profiles.
It also helps in studying the target segments by providing views on the
emerging & high-growth segments. The market data comprises the basic
assessment of the competitive scenarios and strategies in the global steam
boilers market, including high-growth regions and/or countries, and political
and economic environments. The project report further provides both –
historical market values and pricing & cost analysis
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