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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


Product Code : MNMEP00110127
Survey : MarketsandMarkets
Publish On : 20, May, 2022
Category : Energy and Power
Study Area : Global
Report format : PDF
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[Report Description]

“The steam boiler system market is projected to grow at a CAGR of 4.13%, from 2018 to 2023.”
The steam boiler system market is projected to reach USD 21.63 billion by 2023, from an estimated USD 17.66 billion in 2018, at a CAGR of 4.13%. This growth can be attributed to the increase in industrialization and urbanization from the developing countries. Furthermore, capacity additions in conventional power generation to meet the rise in power demand is likely to drive the steam boiler system market. Focus on renewable energy sources for power generation could act as a restraint for this market.
“The process industry is expected to largest market for steam boiler system from 2018 to 2023.”
The process industry is estimated to be the largest market during the forecast period. Asia Pacific is the fastest growing region for the process industry owing to the rise in disposable income and various initiatives led by the government to improve the food processing sector. These factors are likely to drive the steam boiler system market for the Asia Pacific region. For instance, the Government of India plans to improve the food processing sector by leveraging reforms such as 100% foreign direct investment (FDI) in the marketing of food products and various incentives at the central and state government levels along with a strong focus on the supply chain infrastructure.
“Asia Pacific: The fastest growing market for Steam Boiler System.”
The Asia Pacific is expected to be the largest market for steam boiler system in 2023 and is projected to grow at the highest CAGR during the forecast period. The region has been segmented into China, Japan, India, Australia, South Korea, and the rest of Asia Pacific. Power generation sector is the largest market in the Asia Pacific for the steam boiler system market. According to the International Energy Agency (IEA), the global demand for energy will grow by approximately 60% by 2030. Increased primary energy consumption and governments providing monetary incentives have paved the way for several private players to set up power generation plants to cater to the domestic electricity demand. All these factors are likely to contribute towards the growth of the steam boiler system market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, and Tier 3- 13%
By Designation: C-Level- 35%, Directors Level- 25%, and Others- 40%
By Region: Asia Pacific- 30%, North America- 27%, Europe-10%, Middle East & Africa-25%, and South America- 8%
Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:
The leading players in the steam boiler system market include Bosch (Germany), GE (US), Alfa Laval (Sweden), Thermax (India), Cochran (UK), Viessmann (Germany), and Doosan (South Korea).


Research Coverage:
The report defines, describes, and forecasts the global steam boiler system market by component, type, fuel, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the steam boiler system market.
Why Buy this Report?
1. The report identifies and addresses key markets for steam boiler system, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 DEFINITION 15
1.3 MARKET SCOPE 16
1.3.1 MARKET SEGMENTATION 16
1.3.2 REGIONAL SCOPE 17
1.4 YEARS CONSIDERED FOR THE STUDY 17
1.5 CURRENCY 18
1.6 LIMITATION 18
1.7 STAKEHOLDERS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.1.1 Secondary sources 20
2.1.2 PRIMARY DATA 21
2.1.2.1 Key data from primary sources 21
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primaries 22
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 23
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 31
4.1 ATTRACTIVE OPPORTUNITIES IN THE STEAM BOILER SYSTEM MARKET 31
4.2 STEAM BOILER SYSTEM MARKET, BY COUNTRY 32
4.3 ASIA PACIFIC STEAM BOILER SYSTEM MARKET, BY END-USER & COUNTRY 33
4.4 STEAM BOILER SYSTEM MARKET, BY COMPONENT 34
4.5 STEAM BOILER SYSTEM MARKET, BY TYPE 34
4.6 STEAM BOILER SYSTEM MARKET, BY FUEL 35

5 MARKET OVERVIEW 36
5.1 INTRODUCTION 36
5.2 MARKET DYNAMICS 36
5.2.1 DRIVERS 37
5.2.1.1 Rapid increase in the demand for electricity 37
5.2.1.2 Increase in power plant capacity addition 38
5.2.2 RESTRAINTS 38
5.2.2.1 Focus on renewable energy sources for power generation 38
5.2.2.2 High installation cost 39
5.2.3 OPPORTUNITIES 39
5.2.3.1 Rise in the demand for compact design of the steam boiler 39
5.2.3.2 Aging power generation Infrastructure 39
5.2.4 CHALLENGES 39
5.2.4.1 Strict emission standards 39
5.2.4.2 Boiler efficiency and steam quality 40
6 STEAM BOILER SYSTEM MARKET, BY COMPONENT 41
6.1 INTRODUCTION 42
6.2 BOILER 43
6.3 ECONOMIZER 43
6.4 SUPERHEATER 44
6.5 AIR PREHEATER 45
6.6 FEED PUMP 45
7 STEAM BOILER SYSTEMS MARKET, BY TYPE 47
7.1 INTRODUCTION 48
7.2 WATER-TUBE BOILER 49
7.3 FIRE-TUBE BOILER 49
8 STEAM BOILER SYSTEMS MARKET, BY FUEL 51
8.1 INTRODUCTION 52
8.2 COAL-FIRED STEAM BOILER 53
8.3 GAS-FIRED STEAM BOILER 53
8.4 OIL-FIRED STEAM BOILER 54
8.5 BIOMASS-FIRED STEAM BOILER 55
8.6 ELECTRIC STEAM BOILER 55
9 STEAM BOILER SYSTEM MARKET, BY END-USER 57
9.1 INTRODUCTION 58
9.2 POWER GENERATION 59
9.3 OIL & GAS 60
9.4 CHEMICAL 60
9.5 PROCESS INDUSTRY 61
9.6 PRIMARY METAL 62
10 STEAM BOILER SYSTEM MARKET, BY REGION 63
10.1 INTRODUCTION 64
10.2 ASIA PACIFIC 66
10.2.1 BY COMPONENT 68
10.2.2 BY TYPE 68
10.2.3 BY FUEL 69
10.2.4 BY END-USER 69
10.2.5 BY COUNTRY 70
10.2.5.1 China 70
10.2.5.2 India 71
10.2.5.3 Japan 71
10.2.5.4 Australia 72
10.2.5.5 South Korea 73
10.2.5.6 Rest of Asia Pacific 74
10.3 NORTH AMERICA 75
10.3.1 BY COMPONENT 76
10.3.2 BY TYPE 76
10.3.3 BY FUEL 77
10.3.4 BY END-USER 77
10.3.5 BY COUNTRY 78
10.3.5.1 US 78
10.3.5.2 Canada 79
10.3.5.3 Mexico 79
10.4 EUROPE 80
10.4.1 BY COMPONENT 80
10.4.2 BY TYPE 81
10.4.3 BY FUEL 81
10.4.4 BY END-USER 82
10.4.5 BY COUNTRY 82
10.4.5.1 UK 83
10.4.5.2 Germany 83
10.4.5.3 France 84
10.4.5.4 Italy 85
10.4.5.5 Russia 85
10.4.5.6 Rest of Europe 86
10.5 MIDDLE EAST & AFRICA 87
10.5.1 BY COMPONENT 87
10.5.2 BY TYPE 88
10.5.3 BY FUEL 88
10.5.4 BY END-USER 89
10.5.5 BY COUNTRY 89
10.5.5.1 Saudi Arabia 90
10.5.5.2 UAE 90
10.5.5.3 South Africa 91
10.5.5.4 Iran 92
10.5.5.5 Rest of Middle East & Africa 92
10.6 SOUTH AMERICA 93
10.6.1 BY COMPONENT 94
10.6.2 BY TYPE 94
10.6.3 BY FUEL 95
10.6.4 BY END-USER 95
10.6.5 BY COUNTRY 96
10.6.5.1 Brazil 96
10.6.5.2 Argentina 97
10.6.5.3 Rest of South America 97
11 COMPETITIVE LANDSCAPE 99
11.1 OVERVIEW 99
11.2 RANKING OF PLAYERS AND INDUSTRY CONCENTRATION, 2017 100
11.3 COMPETITIVE SCENARIO 101
11.3.1 CONTRACTS & AGREEMENTS, 2015–2018 101
11.3.2 NEW PRODUCT DEVELOPMENTS, 2015–2018 102
11.3.3 INVESTMENTS & EXPANSIONS, 2015–2018 102
11.3.4 MERGERS & ACQUISITIONS, 2015–2018 102
12 COMPANY PROFILES 103
12.1 BENCHMARKING 103
(Business Overview, Products Offered, Recent Developments, and MnM View)*
12.2 ALFA LAVAL 104
12.3 BOSCH 106
12.4 GE 109
12.5 THERMAX 111
12.6 BYWORTH BOILERS 115
12.7 CLEAVER-BROOKS 116
12.8 COCHRAN 119
12.9 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION 120
12.10 DEVOTION MACHINERIES 121
12.11 FORBES MARSHALL 122
12.12 FULTON 123
12.13 PARKER BOILER 124
12.14 RENTECH BOILERS 125
12.15 THERMODYNE ENGINEERING SYSTEM 126
12.16 VIESSMANN 127
12.17 ZHENGZHOU BOILER (GROUP) CO., LTD. 128
12.18 OTHER KEY PLAYERS IN THE STEAM BOILER SYSTEM MARKET 130
12.18.1 BHEL 130
12.18.2 HURST BOILERS 130
12.18.3 AMEC FOSTER WHEELER 130
12.18.4 SIEMENS 130
12.18.5 VAPOR POWER INTERNATIONAL 130
12.18.6 MITSUBISHI 131
*Details on Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
13 APPENDIX 132
13.1 INSIGHTS OF INDUSTRY EXPERTS 132
13.2 DISCUSSION GUIDE 133
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 136
13.4 AVAILABLE CUSTOMIZATIONS 138
13.5 RELATED REPORTS 138
13.6 AUTHOR DETAILS 139

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