Market Outlook

According to Future Market Consulting analysis, Global Steam Boilers Market size was valued at USD 23.32 Billion in 2021 and is projected to reach USD 32.95 Billion by 2030, growing at a CAGR of 6.42% from 2022 to 2030.

A heating device that produces steam is called a steam boiler. By boiling water to produce steam, it produces electricity. It is a heat exchanger with a combustion compartment and a water reservoir that generates steam for use outdoors. Steam boilers come in a variety of sizes, from extremely compact for simple tasks too big for more difficult ones. To heat water, a steam boiler consumes fuel. Steam is created when heat and water are combined. Steam is produced using radiation, convection, and diffusion, three types of heat.

The need for electricity is rising as a result of factors like expanding industrialization, expanding use of electrical equipment, and expanding economic activity. increasing the demand for steam boiler systems. Additionally, it is anticipated that the global market will grow due to a rise in thermal power capacity due to the building of fresh power plants and the renovation of old ones worldwide. Additionally, the urban population, policies that encourage industrial growth, low-cost materials, ease of availability, and low labour costs are all expected to favourably impact the global market.

The demand for coal-fired boilers has been muted by strict government regulations as well as a change in emphasis towards the implementation of sustainable technologies. Additionally, over the next few years, product penetration will be supported by rising electricity consumption, relatively cheap cost, simple access to coal, and a scarcity of regulations in emerging economies.

Key Players

• GE (US)
• Bosch (Germany)
• Thermax (India)
• Cleaver-Brooks (US)
• Byworth Boilers (US)
• Doosan Heavy Industries & Construction (South Korea)
• Forbes Marshall (India)
• Fulton Boiler (US)
• Parker Boiler (US)
• Rentech Boilers (US)
• Thermodyne Engineering Systems

Segmentation

By Component

• Boiler
• Economizer
• Superheater
• Air Preheater
• Feed Pump

 By Type

• Water tube Boiler
• Fire tube Boiler

 By Fuel

• Coal-fired Steam Boiler
• Gas-fired Steam Boiler
• Biomass-fired Steam Boiler
• Oil-fired Steam Boiler
• Electric Steam Boiler

 By End-User

• Power Generation
• Oil & Gas
• Chemical
• Process Industry
• Primary Metals

 By Region

• North America (US, Canada, Mexico);
• Europe (UK, Germany, France, Italy, Spain, Rest of Europe);
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific);
• Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa);
• South America (Brazil, Argentina, Rest of South America);