Marine Boilers Market Trends, Growth, Future Demand, Analysis and Forecast by 2025 - PMR

A boiler is an indispensable part of the ship, whether diesel engine operated or steam powered. Marine boilers are closed vessels wherein the water is heated and circulated to produce high pressure steam or supersaturated steam, which either is used as the power source for propulsion or for heating or electricity generation. In the steam-powered ships, around 2-3 marine boilers are used to generate high-temperature pressure steam for the ship propulsion, whereas in the diesel engine ships, around 1-2 marine boilers are used for the auxiliary purpose, such as heating and pumping fuel and other services.

Most of the ships are diesel engine operated in which heavy fuel oil (HFO) is used. HFO is a highly dense fuel owing to which steam is used as a heating medium to reduce the viscosity of fuel to maintain proper flow of fuel to settling and service tanks. Thus, the auxiliary marine boiler is used in the diesel engine ships. With simple and compact design, marine boilers are easy to install and operate. In order to generate steam, marine boilers are internally fired with the help of natural gas or fuel or externally fired with the help of coal.

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Global Marine Boilers Market: Dynamics

With immense growth of the seaborne trade across the globe, the demand for tankers, bulk carriers, containers and LNG-LPG carriers, among other ships are increasing, which is primarily driving the shipbuilding market. With a subsequent increase in a number of ships across the globe, the demand for marine boilers has increased.

Growing market of the steam-powered ships coupled with the increasing demand for superheated steam in various operations, such as ship's propulsion, heating and others, boost the demand for marine boilers. Regular cleaning in order to remove scaling and fouling, and the emission of flue gas from the boiler are some of the critical factors affecting in the selection of a boiler. Thus, marine boilers with ease of maintenance and repair, and high efficiency are high in demand.

Global Marine Boilers Market: Segmentation

The global marine boilers market is segmented based on the boiler types, fire tube and water tube boilers. Further, based on the circulation pattern, the global marine boiler market is segmented into forced and natural circulation. The global marine boilers market is also segmented into internally fired boilers, with the help of natural gas or coal, and externally fired boilers with the help of coal. Based on the axis of the shaft, marine boilers are segmented into vertical tubular boilers and horizontal tubular boilers.

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Global Marine Boilers Market: Regional Outlook

The global marine boilers market is mainly dominated by the Asia-Pacific (APAC) region. In Asia-Pacific, countries, such as China and India, are expected to register significant growth in the marine boilers market owing to increase in shipbuilding capacity coupled with growing seaborne trade, which is primarily responsible for the growth of the marine industry. Also, shifting of the shipbuilding market from European countries to APAC regions, such as China, Japan, Korea and others coupled with the aftermarket sale of marine boilers help to dominate the global marine boilers market.

The APAC marine boilers market is expected to register healthy CAGR over the forecast period. Europe is the second largest market of marine boilers. Europe carries a significant share of the shipbuilding market owing to which the demand for the marine boiler is expected to increase. The marine boilers market of Europe is anticipated to register steady growth over the forecast period. The marine boilers market of North America is expected to grow with significant CAGR over the forecast period. Latin America and MEA are expected to register slow growth in the marine boiler market over the forecast period.

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Global Marine Boilers Market: Key Players

Some of the examples of key market participants in the global marine boilers market identified across the value chain are Alfa Laval AB, SAACKE GmbH, Johnston Boiler Company, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd., MIURA AMERICA CO., LTD, SUPREME BOILERS INC, OSAKA BOILER MFG. CO., LTD., Volcano Co., Ltd., Qingdao Kainon Boiler Environmental Protection Technology Co. Ltd, Kawasaki Heavy Industries, Ltd., Suzhou Hailu Heavy Industry Co. Ltd. and Hurst Boiler & Welding Company, Inc., among others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

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