Steam Boiler Market Size, Share and Global Trend By Type (Water Tube Boiler, Fire Tube Boiler), By Fuel (Coal-fired Steam Boiler, Gas-fired Steam Boiler, Electric Steam Boiler, Oil-fired Steam Boiler), By Pressure (Low-Pressure Boiler, Medium-Pressure Boiler, High-Pressure Boiler), By End User Industry (Power Generation, Process Industry, Oil and Gas, Pharmaceutical, Metals) and Regional Forecast, 2024-2032

A Steam Boiler is a power generation device, used for generating steam by applying the heat energy to water which is supplied through a piping system to the point of use. Boiler system mainly comprises a feed water system, steam system, and fuel system with each having its own importance. Feed water system provides water and regulates it to meet steam demand whereas the steam system collects and controls the steam produced in the boiler. Steam pressure is regulated throughout the system using valves and check with a steam pressure gauge. The quality and quantity of steam generated totally depend upon fuel system which plays a pivotal role to generate necessary heat by burning fuel. The rise in demand for electricity, heating and cooling, increase in offshore and onshore exploration activities, production of a reliable and efficient source of energy with flexibility which higher the demand for a steam boiler.

The segmentation of a steam boiler is based on the type i.e. Water Tube and Fire Tube Boiler. The ability to generate high pressure and dry superheated steam makes water tube boiler attractive in power generation, chemical and refining industries. In water tube boiler, water flows through tubes which are heated by surrounding hot gases. Low-pressure boilers are used for heating residential and industrial building in cold weather and producing hot water whereas medium pressure boiler finds its application in industrial process heating such as textile, sugar mills, cement, agricultural, and paper pulp industries. A wide variety of fuel is used according to the purpose of heat generation such as coal, natural gas, solid fuel, etc.

Steam boilers are used in various industries as power source which results in the growth of the steam boiler. Easy installation, low maintenance cost, mobile and flexible features of steam boiler makes it one of the best choice. From power generation to industrial process heating, steam boilers are employed in the wide industrial area which drive the market of steam boiler.

The renewable energy source is pitching up to mitigate the rising pollution concern and thermal power plant across the world account major part in carbon emission which inhibits its growth. The high initial investment required and international safety standards should be followed to avoid accidents which hindering its growth.

KEY PLAYERS COVERED

The established companies for boiler manufacturing across the world are Alfa Laval, Forbes Marshall, Doosan, Thermax, Viessmann, Siemens, Babcock and Wilcox, Fulton Boiler, Clayton Industries, Hurst Boiler and Welding Inc., Mitsubishi Hitachi Power Systems, Cleaver-Brooks, General Electric, Thyssenkrupp and BHEL.

SEGMENTATON

REGIONAL ANALYSIS

The global steam boiler market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The increased demand for HVAC, electricity and variety of other industrial process heating dominates the steam boiler market in North America. The increasing demand for power generation, process heating, etc. from various industries boost the market of steam boilers in the region. The projected growth in the Asia Pacific is creating a suitable environment for steam boiler market. GDP of this region is scaling up due to the fastest growing economies in the world. Recently Prime Minister of India has launched Saubhagya Yojana which aims to provide electricity to all household. Higher manufacturing units and processing industries are serving in this region which drives the market for a steam boiler. The exploration for oil and gas is carried out at large in MEA which require power along with industrial process heating. Europe has a large number of apparel and clothing industries and known for fashion destination and steam boilers are widely used in cotton mill industry. Also, the extreme weather condition in various parts increased the need for heating and adoption of district HVAC can increase the potential growth of the steam boiler.