ALBANY, New York, March 7, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Steam Boiler Systems (Type of Boiler -Fire Tube Boiler, Water Tube Boiler, and Superheater) ; Application - Generator, Steam Engine(Locomotives),Cement Production, and Agriculture; End user -Food, Chemical, Refineries, Primary Metal, Thermal Power Plant, and Others) Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global Steam Boiler Systems market was valued at US$ 12,015.0 Mn in 2015 and is projected to reach US$ 18,942.4 Mn by 2024, expanding at a CAGR of 5.3% between 2016 and 2024.
A boiler is basically a closed vessel in which water is heated until it gets converted into steam at the required pressure. Steam boilers are used as generators to produce electricity in the energy business. Steam boilers can be classified by technology into the water tube, fire tube and super heater. In water tube boiler, steam is produced by the combusting gas surrounding the tube whereas in fire tube, it is produced by the combusting gas flowing inside the tube. Water tube boilers are primarily used for high pressure steam applications and are the ideal choice for comfort heating applications, whereas fire tube boilers are commonly employed for low pressure steam or hot water applications. Key elements of the boiler include the burner, heat exchanger, combustion chamber, exhaust stack, and control. Accessories such as the flue gas economizer are used to recover heat from a boiler.
The steam boiler plays a key role in several industrial processes in end user industries such as: pulp & paper, textile, food processing factories, building material industry, chemical industry, pharmaceutical industry, primary metal, oil & gas, water treatment, and power plants. On the basis of application the steam boiler systems can be used as a generator, steam engine (locomotives), cement production and agriculture. The generator was the dominant segment of the steam boiler systems market in 2015, accounting for more than 30% of the market share in terms of revenue. Demand for steam generators is driven by the increasing energy demand, particularly from developing regions, and the rising number of conventional, coal-fired power plants.
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Currently, North America primarily led by the U.S industrial boilers was the dominant region in 2015 occupying more than 30% of the global steam boiler systems market share. Recovering Oil & gas industry accompanied with favorable EPA regulatory norms in the U.S. is likely to boost the demand of steam boiler systems market from 2016 - 2024. Furthermore, shale gas exploration particularly in the U.S. may boost product installations. Europe primarily led by Germany, Finland, Italy and France is projected to witness significant industry growth. North America and Europe have a significant capacity of installed steam boiler systems. Hence, the market in these regions is estimated to expand at a moderate pace during the forecast period.
Asia Pacific owing to increasing power generation demand and rapid industrialization coupled with increasing population mainly in China and India may favor steam boiler systems market. Asia Pacific, Middle East, and Latin America are likely to be growing markets for steam boiler systems during the forecast period, due to increasing industrialization and vigorous economic development in these regions. Countries such as India, Japan, and China have invested considerably in the market for steam boiler systems. Hence, Asia Pacific is expected to witness a significant growth in steam boiler systems market in near future.
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.
The report segments the global Steam Boiler Systems market as follows:
Steam Boiler Systems Market: Type of Boiler Analysis
- 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 Boiler Systems Market: Application Analysis
- Steam Engines (Locomotives)
- Cement Production
Steam Boiler Systems Market: End user Analysis
- Primary Metal
- Thermal Power Plants
Steam Boiler Systems Market: Regional Analysis
- North America
- Rest of 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
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