Market Scenario, Steam boiler is an enclosed vessel made of steel in which water is heated by some source of heat and ultimately generate steam. The steam produced in the steam boiler can be used at low pressure for various industrial applications including cotton mills, sugar industries, among other industries. 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. , Chemical segment is estimated to dominate the steam boiler market during the forecast period. Moreover, it is also estimated that the growth in Asia-Pacific will be driven by capacity expansion coupled with the higher consumer purchasing power. Also, Asia-Pacific is among the most diversified industrial hub with 70,000 products ranging from cosmetics, petrochemicals, pharmaceuticals, and fertilizers. Increase in power plant capacity addition has become the major driver for the growth of the global steam boiler 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. Also, supportive industrial growth policies, low-cost raw materials, cheap labor cost, and ease of availability has turned China and India into attractive industrial markets and fastest growing economies across the globe., 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 automated steam boiler which is mainly driven by investments in power generation that are being made in countries such as China, Japan, and India. , Global Steam boiler market has been segmented based on type, component, fuel, end-user, and region. Based on component, the market is classified into boiler, economizer, superheater, air preheater, and feed pump. Boiler segment is expected to hold the largest market share by 2023, due to increasing demand for power from the devel

Market Scenario

Steam boiler is an enclosed vessel made of steel in which water is heated by some source of heat and ultimately generate steam. The steam produced in the steam boiler can be used at low pressure for various industrial applications including cotton mills, sugar industries, among other industries. 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.

Chemical segment is estimated to dominate the steam boiler market during the forecast period. Moreover, it is also estimated that the growth in Asia-Pacific will be driven by capacity expansion coupled with the higher consumer purchasing power. Also, Asia-Pacific is among the most diversified industrial hub with 70,000 products ranging from cosmetics, petrochemicals, pharmaceuticals, and fertilizers. Increase in power plant capacity addition has become the major driver for the growth of the global steam boiler 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. Also, supportive industrial growth policies, low-cost raw materials, cheap labor cost, and ease of availability has turned China and India into attractive industrial markets and fastest growing economies across the globe.

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 automated steam boiler which is mainly driven by investments in power generation that are being made in countries such as China, Japan, and India.

Global Steam boiler market has been segmented based on type, component, fuel, end-user, and region. Based on component, the market is classified into boiler, economizer, superheater, air preheater, and feed pump. Boiler segment is expected to hold the largest market share by 2023, due to increasing demand for power from the developing countries and investments made for capacity additions.

Based on fuel, the market is segmented as coal-fired steam boiler, gas-fired steam boiler, oil-fired steam boiler, biomass-fired steam boiler, and electric steam boiler. Coal, being one of the major fuel is mostly used in steam boilers. According to IEA, coal fuel accounts for 40% of the global electricity production. Moreover, it is also widely used for power generation purposes, especially in developing economies.

The global Steam boiler market is expected to grow at 4.10% CAGR during the forecast period.

Market Segmentation



Global Steam boiler Market

Global steam boiler market is expected to witness a moderate growth during the forecast period, as these are based on increase in power plant capacity addition. 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. Similarly, North America being the second largest region is also focusing towards immediate need for reliable power supply system.



Key Players

The key players of global turboexpanders 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).

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