Superheater Market Analysis
The global superheater market is estimated to grow
at 9.40% CAGR during the forecast period. Superheater is a device that is used
to convert saturated steam into superheated steam. These devices are also used
in steam turbines for electricity generation, steam reforming, and steam
engines. The superheaters can be classified into three broad categories, which
are convection superheaters, combined superheaters, and radiant superheaters.
Convection superheater is the oldest type of superheater that is used in a wide
range of applications and is located above or behind banks of water tubes to
protect it from direct fire. The COVID-19
Analysis on Superheater
Market Size is enduring an
exacting period with its robust growth coming to an abrupt halt in light of the
COVID-19 pandemic.
The global superheater market is set to witness
significant growth due to booming steam boilers market and increasing
construction of power plants. Additionally, Asia-Pacific is one of the most
diversified industrial hubs with more than 70,000 products that have
applications in cosmetics, petrochemicals, pharmaceuticals, and fertilizer
industries. The increase in the power plant capacity has become a major driver
for the growth of the global superheater market. According to International
Energy Agency (IEA), an investment of approximately USD 9.5 trillion has been
estimated for the construction of new power plants and refurbishment of the
existing ones by 2035. Moreover, the urban population will account for more
than 60% of the total population. Additionally, supportive industrial growth
policies, low-cost raw materials, cheap labor cost, and ease of availability
has turned China and India into attractive markets for superheaters. All these
factors are expected to drive the superheater market.
Industry Segmentation
The global superheater market has been segmented
based on type into- radiant superheaters, convection superheaters, and combined
superheaters. Among these types, the radiant type segment dominates the market
due to fact that when a boiler load is reduced by around 50%, the heat of the
flue gas reduces, therefore the convection superheater will capture less heat.
However, a radiant superheater will maintain the heat at almost any load,
thereby maintaining final superheat temperature.
Regional Outlook
Region-wise, Asia-Pacific held the largest market
share of the global superheater market in 2018. It is estimated that
Asia-Pacific would be the fastest growing market during the forecast period,
mainly due to the growing demand for power and rising investments in
constructing new power generation plants. China is expected to lead the
Asia-Pacific superheater market during the forecast period and is projected to
grow at the highest CAGR from 2018–2023. The market in China and India 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. All these factors are
likely to drive the superheater market, as superheaters are an integral part of
power generation plants.
Prominent Players
The key players of the global superheater market are
National Boiler Service, Chromalox, Optimus Industries, Birwelco, Alfa Laval,
Sussman Electric Boilers, Watlow, KNM Group, Sandvik AB, VPI Acquisition
Company LLC, Maarky Thermal Systems Inc., and Uchino Co., Ltd.
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