The report “Steam Boiler System Market
by Component (Boiler, Economizer, Superheater, Air Preheater, and Feed
Pump), Type (Watertube Boiler, and Fire Tube Boiler), Fuel (Coal, Gas,
Biomass, Oil, and Electric), End-user, and Region- Global Forecast to
2023″, The steam boiler system market is expected to grow from
an estimated USD 17.66 billion in 2018 to USD 21.63 billion by 2023, at a
CAGR of 4.13%. Increase in demand for electricity is forcing the
National Governments to increase power generation capacity by setting up
new power plants which is driving the demand for steam boiler system in
power plants. The increasing number of manufacturing and process
industry specifically in Asia Pacific is also increasing the demand of
steam boiler systems.
Browse 73 market data Tables and 33 Figures spread through 139 Pages and in-depth TOC on “Steam Boiler System Market – Global Forecast to 2023”
Water-tube boiler is expected to be the fastest growing market for steam boiler system, by type, during the forecast period.
Water-tube boiler segment led the steam boiler system
market in 2017. Water-tube boilers are more efficient than fire-tube
boilers. Water tube boilers have larger boiler capacities, higher
pressure levels, and the ability to provide high steam temperatures of
up to 650 °C. Such boilers are mostly used in power generation
utilities. The rise in the consumption of electricity and increasing
energy prices is likely to drive the steam boiler system market during
the forecast period.
Biomass-fired steam boiler, by fuel, is expected to grow at the highest CAGR during the forecast period.
The biomass-fired steam boiler segment is projected
to grow at the highest CAGR from 2018 to 2023. The primary source of
fuel for such kind of biomass-fired steam boilers includes crops and
wastes such as rice husk, wood, sawdust, forest and mill residue,
fast-growing trees and plants, and industrial waste. Biomass can be used
in two different ways to produce heat, namely, directly via combustion
or indirectly by converting it into various types of fuels such as
methane gas, ethanol, and biodiesel. The heat produced by burning
biomass can be used to heat homes, generate electricity, and power
vehicles.
Asia Pacific: The leading market for Steam Boiler System
In this report, the steam boiler system market has
been analyzed with respect to 5 regions, namely, the Asia Pacific, North
America, South America, Europe, the Middle East, and Africa. The Asia
Pacific led the global steam boiler system market in 2017. China is
expected to lead the Asia Pacific steam boiler system market during the
forecast period and is projected to grow at the highest CAGR from 2018
to 2023. Power plants are one of the major end-users of steam boiler
systems in China. The country is one of the largest consumers of
electricity in the world and to meet the growing demand for power; it is
investing heavily in setting up new plants across all provinces to
ensure steady power supply across industries. According to the EIA’s
International Energy Outlook 2017, China is the world’s largest consumer
of coal and consumption of coal in the power sector is expected to
reach 4,800 million metric tons by 2018. Thus, factors such as increased
investments in the power generation sector to meet the increasing
demand for power is likely to drive the steam boiler system market
during the forecast period.
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To enable an in-depth understanding of the
competitive landscape, the report includes the profiles of some of the
top players in the steam boiler system market. The key
players include Bosch (Germany), GE (US), Alfa Laval (Sweden), Thermax
(India), Cochran (UK), Viessmann (Germany), and Doosan (South Korea).
The leading players are adopting various strategies to increase their
shares in the steam boiler system market.
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