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.
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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.
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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.
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
superheater 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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