Global Steam Boiler Systems Market: Snapshot
The global market for steam boiler systems is witnessing significant growth in its valuation, thanks to the rising demand for energy across the world. The augmenting need to improve energy efficacy of power plants and power generation process has been fueling the demand for steam boiler systems substantially. The rise in the government initiatives to encourage the usage of steam boiler systems, such as providing rebates and subsidies on their purchase, is also adding to the growth of this market remarkably. However, the high initial, as well as maintenance cost of these systems may limit their uptake, hindering the progress of this market in the near future.
In 2015, the global steam boiler systems market stood at US$12.0 bn. The opportunity in this market is likely to expand at a CAGR of 5.30% between 2016 and 2024 and is expected to reach US$18.9 bn by the end of 2024.
North America to Register Continued Dominance over Global Steam Boiler Systems Market
In terms of the region, the worldwide market for steam boiler systems is classified into Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. With a share of more than 30%, North America emerged as the key contributor to the global market in 2015. Thanks to the increasing number of chemical manufacturing units, food processing facilities, power plants, and oil and gas refineries the demand for steam boiler systems is likely to gain significantly in this region, ensuring the dominance of North America market for steam boiler systems over the forthcoming years. Along with this, the increasing applications of steam boiler systems in the commercial and the residential sectors are also anticipated to add to the growth of this regional market in the near future.
Europe, which is also considered as one of the key markets for steam boiler systems, is likely to report an upswing in its total share in the global market in the years to come, thanks to the presence of a large number of established manufacturing industries. Among others, the Asia Pacific market for steam boiler systems is expected to register a healthy growth rate over the next few years on account of rising industrialization and escalating demand for energy in emerging economies, such as China and India.
Demand for Water Tube Boilers to Remain Strong
Fire tube boilers, water tube boilers, and superheaters are the main types of steam boiler systems available across the world. Among these, water tube boilers enjoy a strong demand and are expected to remain doing so over the next few years, thanks to the benefits offered by water tube boilers when compared to fire tube boilers, such as high efficiency, better heat transfer, and the ability to produce steam at higher pressure. The extensive usage of water tube boilers in large power plants is also expected to support this segment in the near future.
Some of the most prominent vendors of steam boiler systems across the world are Hurst Boiler & Welding Co. Inc., Larsen & Toubro Ltd., Fulton Boiler Works Inc., BHEL, Byworth Boilers, Clayton Industries, Doosan, Buderus, Zhengzhou Boiler (Group) Co. Ltd., 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