Steam Boilers Market Insights
The steam boilers market is projected to grow at a high CAGR over the coming years. The market is anticipated to grow on account of rising demand for steam boilers in power plants and chemical manufacturing industries. Favorable regulations adopted in order to increase power generating capacity across the world are expected to positively influence market growth.
Steam Boilers Market: Type Insights
On the basis of type, the market is segmented into water tube boilers and fire tube boilers. The water tube boiler segment occupied a large market share in 2016. Water tube boilers are used in refining, power plants, chemical, textile, and pulp & paper manufacturing among others.
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Steam Boilers Market: Application Insights
On the basis of application, the steam boilers market is segmented into locomotives, generators, agriculture, cement production, and others. Steam boilers are widely used for generating energy. The product finds vast applications in various industries; in the chemical manufacturing and food sector steam boilers are used for water heating and sterilization purposes.
Steam Boilers Market: End-use Insights
On the basis of end-use, the market is segmented into power plants, chemical manufacturing, food, primary metal, and refineries among others. The power plants segment is projected to grow at a high CAGR over the coming years on account of favorable government policies and increasing demand for energy across the world. In the agriculture sector, steam boilers are used for soil steaming.
Steam Boilers Market: Regional Insights
The demand for steam boilers in the Asia Pacific region is projected to grow at the highest CAGR and occupy the largest share in the market. Increasing number of chemical manufacturing companies and rising investments in power generation opportunities are factors that are anticipated to augment demand in the Asia Pacific region.
The demand for steam boilers in North America and Europe is also expected to grow at a high CAGR on account of growing number of power generation projects and large presence of multinational chemical manufactures located in countries such as the U.S., Canada, and Germany among others.
Steam Boilers Market: End-Use Landscape
Steam Boilers Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase steam boilers over the coming years. Some leading consumers of this market are BASF, Dow Chemical, Sinopec, ExxonMobil, Formosa Plastics, and SABIC among others.
Steam Boilers Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Steam Boilers Market Share & Competitor Analysis
Some of the important players in the steam boilers market include General Electric, Alstom, Cleaver-Brooks, Inc., Larsen & Toubro Ltd., BHEL, Babcock & Wilcox, AC BOILERS SpA, Mitsubishi Hitachi Power Systems, Thermax Ltd, and IHI Corporation among others.
General Electric is one of the leaders in the steam boilers a market, as the installed base is estimated to hold 30% market share. In June 2018, GE was awarded a twin boiler equipment order by BHEL for the supercritical thermal power projects at Patratu in Jharkhand and Udangudi in Tamil Nadu. The contract was valued at USD 72.4 million.
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