The global steam boiler market size was valued at $15.6 billion in 2019, and is expected to reach $20.0 billion by 2027, registering a CAGR of 3.3% from 2020 to 2027.
The expansion of power plant capacity brought on by the building of new power plants and the renovation of existing ones around the world is anticipated to drive up prices on the international market. The development of new boiler materials and building techniques will promote market expansion. The market is comprehensively evaluated in the study on the global steam boiler market. The research provides in-depth analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other elements.
A steam boiler is a boiler that produces steam when the necessary pressure is applied to water. It is an enclosed steel vessel where steam is eventually produced when water is heated by an external heat source. Low pressure industrial applications can make use of the steam generated by a steam boiler. In cold weather, buildings are heated with steam boilers as well. Boilers come in two varieties: water tube boilers and fire tube boilers, and they both use fuels other than electricity, including oil, coal, gas, and electricity. Numerous sectors, including the sugar and cotton industries, use these boilers extensively.
Overview:
The demand for electricity is rising as a result of factors like expanding industrialization, expanding use of electrical machinery, and expanding economic activity. increasing the market for steam boiler systems. Additionally, it is anticipated that the global market would grow due to an increase in power plant capacity due to the building of new power plants and the renovation of existing ones worldwide. Additionally, the urban population, regulations that encourage industrial expansion, low-cost raw materials, ease of availability, and low labor costs are all expected to positively impact the worldwide steam boiler system market. A few things prevent the market from expanding. The market’s growth is constrained by issues including high installation costs. The market is hampered by high maintenance costs and price increases brought on by the usage of exotic alloys and cutting-edge technology. Potential barriers to the expansion of the worldwide steam boiler system market include the emphasis on renewable energy sources for power generation, severe emission regulations, boiler efficiency, and steam quality.
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Segmentations:
Global Steam Boiler Market: Major Players
MHPS (Philippines) Inc.
ZOZEN Bolier Co., Ltd.
Martech Boiler Company
General Electric Company
EPCB Boiler Qingdao East Power Industry Equipment Co., Ltd
Cleaver-Brooks, Inc.
PT. Basuki Pratama Engineering
Samson Co.,Ltd.
Cimech Systems Industries
Enertech Systems Industries
Babcock & Wilcox Enterprises, Inc.
IHI Corporation
Hurst Boiler & Welding Co, Inc.
Global Steam Boiler Market: Types
Fire Tube Steam Boiler
Water Tube Steam Boiler
Global Steam Boiler Market: Applications
Electric Power Industry
Chemistry Industry
Pharmaceutical Industry
Food Industry
Global Steam Boiler Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Steam Boiler market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Increased need for energy globally is likely to result in increased demand from the power generation sector for steam boilers, which is anticipated to fuel market expansion throughout the forecast period. The need for steam boilers is also anticipated to rise in the future as offshore and onshore oil and gas exploration activities increase. The main factor anticipated to restrain market expansion throughout the evaluated timeframe is the high initial cost associated with steam boilers. On the other hand, the rapid expansion of end-use industries like chemical, food processing, pulp & paper, pharmaceutical, and others through the development and expansion of production bases or manufacturing facilities is anticipated to present opportunities for key market players in the upcoming years.
This report examines all the key factors influencing growth of global Steam Boiler market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Steam Boiler market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.
Key Points:
Define, describe and forecast Steam Boiler product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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