Steam Boiler Systems Market to Rise on account of Increasing Energy Demands
The global steam boiler systems market is likely to witness a significant growth, thanks to the rising demand for energy. Apart from this, need to improve energy efficiency in the power plants and power house are the two prominent factor expected to fuel the steam boiler systems market in the coming few years. Steal boilers are widely used in industries to elevate temperature of the particular contain with the help of steam. High initial cost of steam boilers and maintenance cost of these systems are the prominent factor expected to impede growth in the market. Nevertheless, favourable government initiatives towards for the consumers is expected to propel the global steam boiler system market.
According to Transparency Market Research, the steam boiler systems market was recorded at a valuation of US$12.0 bn un 2016. The market is anticipated to expand at a healthy 5.30% CAGR between 2016 and 2024. Rising at this, CAGR the steam boiler market is expected to surpass a valuation of US$18.9 bn by the end of 2024.
Surge in Demand from Refineries and Power Plants to Boost Prospects
Increase in demand for steam boiler system and rising government initiatives are the two prominent drivers in the global market. The steam boiler systems market is mainly classified into super heater, water tube boiler, fire tube boiler. Water tube boiler is further segmented into cyclone fired boiler, bent tube boiler and straight tube boiler. Fire tube boiler segmented into short fire box boiler, compact boiler and horizontal return tubular boiler.
Among all of them, water tube boilers is projected to enjoy a strong demand in the next few years, thanks to benefits offered by them as compared to other market segments.
Based on end user, the global boiler system market is classified as generator, steam engine, cement production and agriculture. Among all of them the demand of boiler is expected to rise in cement production owing the flourishing construction industries.
End user wise, the global stem boiler system market is divided into food, chemical, refineries, primary metal and thermal power plants. Use if stem boiler in refineries is expected to rise in near future on the account of increase integration of advanced technology in the steam boiler system.
On the basis of region, the steam boiler systems market is divided into Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. Among all these regions, North America is projected to dominate the steam boiler system market with a majority of 30% share. This is mainly due to the presence of large number of end user industries in the region.
The completion in the steam boiler system market is expected to heat up further with the entery of several new players in the market. Some of the prominent players operating in the global steam boiler systems market are Hurst Boiler & Welding Co. Inc., Fulton Boiler Works Inc., Larsen & Toubro Ltd., BHEL, Clayton Industries, Byworth Boilers, Doosan, Buderus, and Cleaver-Brooks.
Global Steam Boiler System Market: Overview
This report analyzes and forecasts the market for Steam Boiler Systems at the global and regional level. The market has been forecast based on revenue (US$ Mn) & Volume (Units) from 2016 to 2024. The study includes drivers and restraints of the global Steam Boiler Systems market. It also covers the impact of these drivers and restraints on demand for Steam Boiler Systems during the forecast period. The report also highlights opportunities in the Steam Boiler Systems market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global Steam Boiler Systems market. Porter’s Five Forces model for the Steam Boiler Systems market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-user are benchmarked based on their market size, growth rate, and general attractiveness.
Global Steam Boiler System Market: Scope of the Study
The study provides a decisive view of the global Steam Boiler Systems market by segmenting it in terms Type of Boiler, application and end user. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecasted demand for Steam Boiler Systems in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual end-user segments in all the regions.
The report provides the estimated market size of Steam Boiler Systems for 2015 and forecast for the next nine years. The global market size of Steam Boiler Systems has been provided in terms of revenue and units. Market numbers have been estimated based on Type of Boiler, application and end user segment of Steam Boiler Systems. Market size and forecast for each major type of boiler, application and end user have been provided in terms of global and regional markets.
Global Steam Boiler System Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players operating in the boiler and various end user industries, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, International Energy Agency (IEA), U.S. Department of Energy, U.S. Energy Information Administration (EIA), Environmental Protection Agency.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Companies Mentioned in this Report
The study includes profiles of major companies operating in the global Steam Boiler Systems market. Key players profiled in the report include Steam Boiler Systems market include Cleaver-Brooks, ZHENGZHOU BOILER (GROUP) CO., LTD., Buderus, Doosan, Clayton Industries, Byworth Boilers, BHEL, Fulton Boiler Works, Inc., LARSEN & TOUBRO LIMITED , Hurst Boiler & Welding Company, Inc. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis.
The report segments the global steam boiler systems market as:
By Boiler Type
- Fire Tube Boiler
- Horizontal Return Tubular Boiler
- Short Fire Box Boiler
- Compact Boiler
- Water Tube Boiler
- Horizontal Straight Tube Boiler
- Bent Tube Boiler
- Cyclone Fired Boiler
- Super Heater
- Steam Engines (Locomotives)
- Cement Production
By End User
- Primary Metal
- Thermal Power Plants
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA