Steam Boiler Market Boosting The Growth Worldwide | General Electric, IHI Corporation, Forbes Marshall, Mitsubishi Heavy Industries

According to a new report published by Report Ocean titled, Steam Boiler Market by Type, Fuel Type, Pressure, and End-Use Industry: Opportunity Analysis and Industry Forecast, 2020–2027.

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The steam boiler market was valued at $15.6 billion in 2019, and is projected to reach $20.0 billion by 2027, growing at a CAGR of 3.3% from 2020 to 2027. Steam boiler is a steam generating device or component that uses heat produced from combustion of fuel source to heat water filled in boiler, thereby generating steam for various applications such as heating and power generation. The main components of steam boiler include shell, furnace, grate, heating surface, mounting accessories, and other accessories. Steam boilers are used in various end-use industries, including food processing, rice mills, pharmaceuticals, metal forging, chemical, power generation, and others.

Significant development of the end-use industries, such as oil & gas, chemical, metal mining, food processing, and pharmaceutical, fuels the growth of the steam boiler market. In addition, increase in demand for steam boiler as a source of heating in cold regions drives the growth of the market during the forecast period. However, implementation of stringent government regulations toward environmental pollution from coal-based and other conventional fuel sources and rapid development of the renewable energy sector are the key factors hampering the growth of the global market in the coming years.

The global steam boiler market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include General Electric, IHI Corporation, Forbes Marshall, Mitsubishi Heavy Industries, Ltd., Viessmann Limited, Alfa Laval AB, Thyssenkrup, Hurst Boiler & Welding, Inc. and Thermax Limited.

Other players operating in the value chain of the global steam boiler market are Fulton Boiler, Clayton Industries, Cleaver-Brooks, Inc., Cochran Ltd., Dongfeng Electric, and Walchandnagar Industries Limited.

Depending on type, the water tube boiler segment held the highest market share of about 73.3% in 2019, and is expected to maintain its dominance during the forecast period. This is attributed to rise in demand for high operational efficiency and high temperature steam from the power generation industry. In addition, it offers various advantages over fire tube boilers, including high steam generation rate, easy transportation, high efficiency, ability to work on varying loads, and others. These factors are expected to drive the growth of the market during the analyzed time frame.

On the basis of fuel type, the gas fired segment holds the highest growth rate of 3.6%, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to rise in awareness and implementation of stringent government regulations toward low emission fuels. In addition, gas fired steam boiler possesses advantages such as faster steam production, less greenhouse gas emissions, better operational performance, high efficiency, and others.

On the basis of pressure, the high pressure segment holds the largest market share of about 69.7%, in terms of revenue, and is expected to grow at a CAGR of 3.3%. This is attributed to increase in demand for high pressure steam boilers from various industries, including food & processing, pulp & paper, chemical, pharmaceutical, manufacturing, and others.

On the basis of end-use industry, the power generation segment holds the highest growth rate, in terms of revenue, and is expected to grow at a CAGR of 3.5%. This is attributed to increase in electricity demand from various customers ranging from individual residential customer to industrial customers across the globe.

On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the highest CAGR of 3.6% and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the availability of key players in the region. Moreover, rise in demand for electricity from developing countries, such as China, Japan, Australia, and India, is anticipated to contribute to the growth of the steam boiler market in the Asia-Pacific region.

COVID-19 impact on the market

The steam boiler market has witnessed steady growth in 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries and countries across the globe, thereby resulting in decrease in demand for electricity. However, owing to the lockdown imposed across the globe, there is decrease in growth rate of industries such as transportation, oil & gas, manufacturing, and energy. In Europe, economies, such as Germany, France, Spain, and Italy, are following stringent measures, such as maintaining social distance and limiting movements, to prevent the spread of coronavirus.

Moreover, such safety measures have been witnessed across the globe, which further impacted the growth of the global steam boiler market.
 
Key Findings Of The Study

In 2019, the water tube boiler segment accounted for majority of the share of the global steam boiler market, and is expected to maintain its lead during the forecast period.
In 2019, the coal fired segment accounted for about 65.3% of the share in the global steam boiler market, and is expected to maintain its dominance till the end of the forecast period.
In 2019, based on pressure, the high-pressure segment accounted for 69.7% market share in 2019, growing at a rate of 3.3% in terms of revenue, increasing its share in the global steam boiler market.
Power generation is the fastest-growing end-use industry segment in the global steam boiler market, and is expected to grow at a CAGR of 3.5% during 2020–2027.
In 2019, North America dominated the global steam boiler market with more than 33.8% of the share in terms of revenue.

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Extracts from Table of Content:
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key forces shaping the market
3.3.Value chain analysis
3.4.Top investment pockets
3.5.Patent analysis
3.5.1.By region, 2013-2020
3.6.Market dynamics
3.6.1.Drivers
3.6.1.1.Rise in demand for steam boilers from various end-use industries
3.6.1.2.Increase in investment towards adding power generation capacity
3.6.2.Restraints
3.6.2.1.Implementation of stringent government regulations toward environmental pollution and high initial cost
3.6.2.2.Rapid development in the renewable energy sector
3.6.3.Opportunity
3.6.3.1.Technological advancements and upgradation of aging power generation infrastructure
3.7.Impact of COVID-19 outbreak on the market

CHAPTER 4:STEAM BOILER MARKET, BY TYPE
4.1.Overview
4.1.1.Market size and forecast
4.2.Water Tube Boiler
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market share analysis, by country
4.3.Fire tube boiler
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market share analysis, by country

CHAPTER 5:STEAM BOILER MARKET, BY PRESSURE
5.1.Overview
5.1.1.Market size and forecast
5.2.Low-Pressure
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country
5.3.High-pressure
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country

CHAPTER 6:STEAM BOILER MARKET, BY FUEL TYPE
6.1.Overview
6.1.1.Market size and forecast
6.2.Coal fired
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country
6.3.Oil-fired
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country
6.4.Gas fired
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country
6.5.Others
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region
6.5.3.Market share analysis, by country

CHAPTER 7:STEAM BOILER MARKET, BY END-USE INDUSTRY
7.1.Overview
7.1.1.Market size and forecast
7.2.Power Generation
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region
7.2.3.Market share analysis, by country
7.3.Oil & gas
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.3.3.Market share analysis, by country
7.4.Chemical
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.4.3.Market share analysis, by country
7.5.Others
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region
7.5.3.Market share analysis, by country

CHAPTER 8:STEAM BOILER MARKET, BY REGION
8.1.Overview
8.1.1.Market size and forecast
8.2.North America
8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market size and forecast, by type
8.2.3.Market size and forecast, by pressure
8.2.4.Market size and forecast, by fuel type
8.2.5.Market size and forecast, by end-use industry
8.2.6.Market share analysis, by country
8.2.7.U.S.
8.2.7.1.Market size and forecast, by type
8.2.7.2.Market size and forecast, by pressure
8.2.7.3.Market size and forecast, by fuel type
8.2.7.4.Market size and forecast, by end-use industry
8.2.8.Canada
8.2.8.1.Market size and forecast, by type
8.2.8.2.Market size and forecast, by pressure
8.2.8.3.Market size and forecast, by fuel type
8.2.8.4.Market size and forecast, by end-use industry
8.2.9.Mexico
8.2.9.1.Market size and forecast, by type
8.2.9.2.Market size and forecast, by pressure
8.2.9.3.Market size and forecast, by fuel type
8.2.9.4.Market size and forecast, by end-use industry
8.3.Europe
8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Market size and forecast, by type
8.3.3.Market size and forecast, by pressure
8.3.4.Market size and forecast, by fuel type
8.3.5.Market size and forecast, by end-use industry
8.3.6.Market share analysis, by country
8.3.7.Germany
8.3.7.1.Market size and forecast, by type
8.3.7.2.Market size and forecast, by pressure
8.3.7.3.Market size and forecast, by fuel type
8.3.7.4.Market size and forecast, by end-use industry
8.3.8.France
8.3.8.1.Market size and forecast, by type
8.3.8.2.Market size and forecast, by pressure
8.3.8.3.Market size and forecast, by fuel type
8.3.8.4.Market size and forecast, by end-use industry
8.3.9.Italy
8.3.9.1.Market size and forecast, by type
8.3.9.2.Market size and forecast, by pressure
8.3.9.3.Market size and forecast, by fuel type
8.3.9.4.Market size and forecast, by end-use industry
8.3.10.UK
8.3.10.1.Market size and forecast, by type
8.3.10.2.Market size and forecast, by pressure
8.3.10.3.Market size and forecast, by fuel type
8.3.10.4.Market size and forecast, by end-use industry
8.3.11.Rest Of Europe
8.3.11.1.Market size and forecast, by type
8.3.11.2.Market size and forecast, by pressure
8.3.11.3.Market size and forecast, by fuel type
8.3.11.4.Market size and forecast, by end-use industry
8.4.Asia-Pacific
8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Market size and forecast, by type
8.4.3.Market size and forecast, by pressure
8.4.4.Market size and forecast, by fuel type
8.4.5.Market size and forecast, by end-use industry
8.4.6.Market share analysis, by country
8.4.7.China
8.4.7.1.Market size and forecast, by type
8.4.7.2.Market size and forecast, by pressure
8.4.7.3.Market size and forecast, by fuel type
8.4.7.4.Market size and forecast, by end-use industry
8.4.8.Japan
8.4.8.1.Market size and forecast, by type
8.4.8.2.Market size and forecast, by pressure
8.4.8.3.Market size and forecast, by fuel type
8.4.8.4.Market size and forecast, by end-use industry
8.4.9.India
8.4.9.1.Market size and forecast, by type
8.4.9.2.Market size and forecast, by pressure
8.4.9.3.Market size and forecast, by fuel type
8.4.9.4.Market size and forecast, by end-use industry
8.4.10.Rest of Asia-Pacific
8.4.10.1.Market size and forecast, by type
8.4.10.2.Market size and forecast, by pressure
8.4.10.3.Market size and forecast, by fuel type
8.4.10.4.Market size and forecast, by end-use industry
8.5.LAMEA
8.5.1.Key market trends, growth factors, and opportunities
8.5.2.Market size and forecast, by type
8.5.3.Market size and forecast, by pressure
8.5.4.Market size and forecast, by fuel type
8.5.5.Market size and forecast, by end-use industry
8.5.6.Market share analysis, by country
8.5.7.Brazil
8.5.7.1.Market size and forecast, by type
8.5.7.2.Market size and forecast, by pressure
8.5.7.3.Market size and forecast, by fuel type
8.5.7.4.Market size and forecast, by end-use industry
8.5.8.Saudi Arabia
8.5.8.1.Market size and forecast, by type
8.5.8.2.Market size and forecast, by pressure
8.5.8.3.Market size and forecast, by fuel type
8.5.8.4.Market size and forecast, by end-use industry
8.5.9.South Africa
8.5.9.1.Market size and forecast, by type
8.5.9.2.Market size and forecast, by pressure
8.5.9.3.Market size and forecast, by fuel type
8.5.9.4.Market size and forecast, by end-use industry
8.5.10.Rest of LAMEA
8.5.10.1.Market size and forecast, by type
8.5.10.2.Market size and forecast, by pressure
8.5.10.3.Market size and forecast, by fuel type
8.5.10.4.Market size and forecast, by end-use industry

CHAPTER 9:COMPETITIVE LANDSCAPE
9.1.Introduction
9.1.1.Market Player Positioning, 2019
9.2.Top winning strategies
9.2.1.Top winning strategies, by year
9.2.2.Top winning strategies, by development
9.2.3.Top winning strategies, by company
9.3.Product Mapping of Top 10 Player
9.4.Competitive Heatmap
9.5.Key developments
9.5.1.Acquisition
9.5.2.Agreement

CHAPTER 10:COMPANY PROFILES
10.1.ALFA LAVAL AB
10.1.1.Company overview
10.1.2.Company Snapshot
10.1.3.Operating business segments
10.1.4.Product portfolio
10.1.5.Business performance
10.2.Bab & Wilcox Enterprises, Inc.
10.2.1.Company overview
10.2.2.Company snapshot
10.2.3.Operating business segments
10.2.4.Product portfolio
10.2.5.Business performance
10.2.6.Key strategic moves and developments
10.3.Forbes Marshall
10.3.1.Company overview
10.3.2.Company snapshot
10.3.3.Product portfolio
10.4.GENERAL ELECTRIC
10.4.1.Company overview
10.4.2.Company snapshot
10.4.3.Operating business segments
10.4.4.Product portfolio
10.4.5.Business performance
10.5.Hurst Boiler & Welding Co, Inc.
10.5.1.Company overview
10.5.2.Company snapshot
10.5.3.Product portfolio
10.6.IHI Corporation
10.6.1.Company overview
10.6.2.Company snapshot
10.6.3.Operating business segments
10.6.4.Product portfolio
10.6.5.Business performance
10.7.MITSUBISHI HEAVY INDUSTRIES, LTD.
10.7.1.Company overview
10.7.2.Company snapshot
10.7.3.Operating business segments
10.7.4.Product portfolio
10.7.5.Business performance
10.8.THERMAX LIMITED
10.8.1.Company overview
10.8.2.Company snapshot
10.8.3.Operating business segments
10.8.4.Product portfolio
10.8.5.Business performance
10.8.6.Key strategic moves and developments
10.9.Thyssenkrupp AG
10.9.1.Company overview
10.9.2.Company Snapshot
10.9.3.Operating business segments
10.9.4.Product portfolio
10.9.5.Business performance
10.9.6.Key strategic moves and developments
10.10.Viessmann Limited
10.10.1.Company overview
10.10.2.Company snapshot
10.10.3.Product portfolio

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