The global steam boiler systems market is anticipated to grow at a CAGR of 4.0% during the forecast period (2022- 2028). A steam boiler is a steam-producing heating system; it produces energy by heating water to create steam. A steam boiler burns fuel to heat water. The combination of heat and water produces steam. Steam boilers are defined by their construction, portability, types of tubes, types of fuel, and the pressure they produce. The growing use of steam boiler systems for meeting the contained heat-generating combustion processes for using it in homes, offices, businesses, hospitals, and other facilities is one of the major factors that are driving the growth of the steam boiler systems market. The choice of fuels varies widely depending on the end-use applications such as in aquariums, food and beverages, laboratories, skyscrapers, and the power generation sector. Steam boiler systems are extensively used in different industries to process steam for power generation, heating applications, and conservation of heat. Also, the rise in demand for electricity and the rise in oil and gas offshore and onshore exploration activities are expected to boost the growth of the market. However, the high initial cost associated with steam boilers is the restraining factor for the growth of the market.
The market is segmented based on the type and application. Based on the type, the market is sub-segmented into fire tube boiler and water tube boiler. Fire-tube boilers have the advantage of being easy to install and operate. They are widely used in small installations to heat buildings and to provide power for factory processes. Fire-tube boilers are also used in steam locomotives. A water tube boiler is a type of boiler in which water circulates in tubes heated externally by a fire. Some major players in the market include Robert Bosch GmbH, General Electric Co., and Alfa Laval AB, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in 2019, there were around 8600 thermal power plants across the world that were using water-tube boilers to generate vapor or steam.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape-
Robert Bosch GmbH, General Electric Co., and Alfa Laval AB, among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
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Global Steam Boiler Systems Market Report by Segment
By Type
Fire Tube Boiler
Water Tube Boiler
Super Heater
By Application
Power Generation
Oil and Gas
Primary Metal
Chemical
Others
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