Steam Boiler Systems Market Scope
Steam boiler system, a machinery used to produce steam by applying heat energy from water, is the heart of the system. Availability of low raw material cost & less labor cost have turned into attractive business destinations and China, India and Brazil are one of the fastest growing economies in the world. Hence, Increasing need of power generation provide lucrative opportunity in developing economies.
The market study is being classified by Type (Fire Tube Boiler, Water Tube Boiler and Super Heater), by Application (Food, Refineries, Primary Metal, Thermal Power Plants and Chemical) and major geographies with country level break-up. According to AMA, the Global Steam Boiler Systems market is expected to see growth rate of 4.11% and may see market size of USD22.91 Billion by 2024.
Research Analyst at AMA predicts that Global Manufacturers will contribute to the maximum growth of Global Steam Boiler Systems market throughout the predicted period.
Hurst Boiler & Welding (United States), Fulton Boiler Works (United States), Bharat Heavy Electricals Limited (BHEL) (India), Byworth Boilers (United Kingdom), Clayton Industries (United States), Bosch (Germany), GE (United States), Alfa Laval (Sweden), Cochran (United Kingdom), Viessmann (Germany) and Doosan (South Korea) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Zhengzhou Boiler (Group) (China), Cleaver-Brook (United States), LARSEN & TOUBRO LIMITED (India) and Thermax (India).
AdvanceMarketAnalytics has segmented the market of Global Steam Boiler Systems market by Type, Application and Region.
On the basis of geography, the market of Steam Boiler Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User Industry, the sub-segment i.e. Power Generation will boost the Steam Boiler Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component Type, the sub-segment i.e. Boiler will boost the Steam Boiler Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In July 2017, Thermax inaugurated its new manufacturing facility in Indonesia to expand its footprint in international markets, especially the ASEAN countries such as Indonesia, Malaysia, Philippines, Singapore, and Thailand.
- Rise in the Demand for Compact Design of the Steam Boiler
- Increasing Demand of Electricity Across the World
- Surging Number of Government Initiatives to Encourage the Usage of Steam Boiler Systems
- Aging Power Generation Infrastructure in Developed Economies
- Strict Emission Standards
- High Manufacturing and Installation Cost of Steam Boiler System
- Surging Focus on Renewable Energy Sources from Power Generation
- High Maintenance Cost of Steam Boiler Systems
Key Target AudienceSteam Boiler manufacturers, Distributors and Suppliers, Government and Research Organizations, Industry, Energy, and Environmental Associations, Investment Banks, Manufacturing Technology Providers and Manufacturing and Processing Industries
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase