The Steam Boiler Market Report Is Expected To Witness Decent During...

The Steam Boiler Market Report Is Expected To Witness Decent During The Forecast Period 2024-2032

Posted 2024-04-04 09:13:53

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Steam Boiler Market Overview

In 2022, the steam boiler market was estimated to be worth USD 15.9 billion. It is anticipated that the steam boiler market would increase from USD 16.55 billion in 2023 to USD 22.82 billion by 2032.

Systems for steam boilers are used to produce steam. Several different industries use steam. Steam is commonly used in factories and plants for steam-heated operations, as well as in electric power plants for steam-driven turbines. However, steam has more uses in the industry than this. Steam boiler systems are essential for various industries such as power generation, hospitals, breweries, universities, food processing services, laundry services, diagnostic kit manufacturing, research laboratories, and factories. These systems are used for various tasks like heating, sterilization, atomization, cleaning, and miniaturization.

Like any other equipment, steam boilers similarly require regular maintenance and monitoring. The water level inside the furnace has to be monitored regularly to avoid fire hazards or possibly catastrophic failure. The government has prescribed a set of regulations and standards and safety measurements to make the steam boilers or other products produced by their industry work efficiently and upgrade their endurance.

The global steam boiler systems market is likely to witness expressive growth, due to the surging demand for energy. Apart from this, the requirement to improve energy efficiency in the power plants and powerhouse are the two major factors anticipated to fuel the steam boiler systems market in the coming few years. Steal boilers are extensively used in industries to elevate the temperature of a particular container with the help of steam.

Steam Boiler 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)

· Fentech Boilers (US)

· Thermodyne Engineering Systems (India).

Regional Analysis

The global Steam Boiler Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific region is anticipated to lead the Steam Boiler Systems Market during the forecast period. The nations like China and India are in their growing phase, so the boosting industrialization is supporting to increase in the demand for Steam Boiler Systems which boosts the market

North America is estimated to dominate the steam boiler system market with a majority of 30% share. This is primarily due to the presence of a large number of end-user industries in the region.

The European region is estimated to lead the Steam Boiler Systems during the forecast period. In this system, the steam is transported through pipes with the pressure that is applied in various industries like turbines, sterilization chambers, power radiators, steam rooms, and cooking equipment in hotel industries.

Market Segmentation

The global Boiler operation Market is segmented into the following types;

By Boiler Type