The report of global steam boiler systems market by Boiler Type (Fire Tube Boiler, Water Tube Boiler, Super Heater) Fuel (Natural Gas, Fuel oil, Biomass, Coal) Technology (Condensing, Non-condensing) Application (Generators, Steam Engines (Locomotives), Cement Production, Agriculture, Others) End User (Food, Chemical, Refineries, Primary Metal, Thermal Power Plants, Others) and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 5.20% during a forecast period.
A steam boiler system is an efficient way to generate and move steam across the plant for things such as heat, processing and power generation. These boiler systems are used in several industries such as power plants, refineries, and others, it is also used as generators to produce electricity. The global steam boiler systems market is driven by growing industrialization, ongoing upgradation and replacement of conventional boilers. Positive outlook toward chemical and food processing industry are fueling the market growth globally. However, high initial investment related to the installation of the steam boiler system and high maintenance associated with steam boiler system are hampering the market growth at the global level.
Gas fired steam boiler segment is expected to grow at the highest XX% CAGR during the forecast period.
Based on the fuel, the gas fired steam boiler segment has led the steam boiler systems market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of 4%. Favorable government initiatives intended to minimize greenhouse gas emissions along with subsequent introduction of stringent regulations toward the adoption of low emission fuels are propelling the product penetration across different end-users. A rising electricity demand, relatively lower cost, easy availability of coal and a lack of regulatory framework in emerging economies will continue to sustain the product penetration over the forecasting years.
The North America dominated the Steam Boiler Systems market in 2019
In 2018, North America held the XX% share of the steam boiler systems market and is expected to maintain its dominance during the forecast period owing to rising demand for food processing, increasing chemical manufacturing units, oil & gas refineries, and power plants. In terms of both value and volume, the Asia Pacific region will record a significant CAGR of XX% during the forecasted period. Europe held the XX% market share of the steam boiler market in 2018, and is expected to account for US$ XX during the forecast period owing to the presence of a large number of established manufacturing industries.
Key players operating the global steam boiler systems market are Hurst Boiler & Welding Co. Inc., Fulton Boiler Works Inc., Larsen & Toubro Ltd., Clayton Industries, Byworth Boilers, Doosan, Buderus, Babcock and Wilcox Enterprises, Inc., Bharat Heavy Electricals Limited, Cleaver-Brooks, Inc., IHI Corporation, CMI Group, AMEC Foster Wheeler Ltd., Cochran Ltd., Doosan Heavy Industries & Construction Co. Ltd., Forbes Marshall Private Limited, Mitsubishi Hitachi Power Systems, Ltd., General Electric, Siemens AG, AC Boilers Spa, Rentech Boiler Systems Inc., Thermax Limited, Miura America Co. Ltd., Hoval, Viessmann Limited, Fondital S.p.a, Ferroli S.p.A, Groupe Atlantic, Bosch Thermotechnology, Victory Energy Operations, LLC, Walchandnagar Industries Limited
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Steam Boiler Systems Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Steam Boiler Systems Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Steam Boiler Systems Market positioning of competitors.
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