Steam Boiler Market to Garner $20.0 Bn, Globally, by 2027 at 3.3% CAGR: Allied Market Research

Increase in demand for steam boilers from several end-use industries and surge in investment toward adding power generation capacity have boosted the growth of the global steam boiler market.

News provided by

Allied Market Research

Jun 15, 2021, 09:30 ET

PORTLAND, Ore., June 15, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Steam Boiler Market by Type (Water Tube Boiler and Fire Tube Boiler), Fuel Type (Coal Fired, Oil Fired, Gas Fired, and Others), Pressure (Low Pressure and High Pressure), and End-Use Industry (Power Generation, Oil & Gas, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the global steam boiler industry was accounted for $15.6 billion in 2019, and is projected to reach $20.0 billion by 2027, growing at a CAGR of 3.3% from 2020 to 2027.

Drivers, restraints, and opportunities

Increase in demand for steam boilers from several end-use industries and surge in investment toward adding power generation capacity have boosted the growth of the global steam boiler market. However, implementation of strict government regulations toward environmental pollution and high initial cost and development in the renewable energy sector hinder the market growth. On the contrary, advancements in technology and upgradation of aging power generation infrastructure are expected to open lucrative opportunities for the market players in the future.

Download Sample PDF (290 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/10978

Covid-19 scenario:

The Covid-19 pandemic and followed lockdown resulted in temporary ban on import & export and hampered the manufacturing & processing activities across various industries. This reduced the demand for electricity from end-user industries.
However, the demand for steam boilers is expected to rise as the need for electricity has increased in the first quarter of 2021 from individual and commercial customers.

The gas fired segment to manifest the highest CAGR through 2027
By fuel type, the gas fired segment is estimated to register the highest CAGR of 3.6% during the forecast period, due to rise in awareness and stringent government regulations towards low emission fuels. However, the coal fired segment held the lion's share in 2019, accounting for nearly two-thirds of the global steam boiler market, owing to rise in demand for coal fired steam boilers from the various end-use industries including power, food processing, cement, sugar, and steel.

Get detailed COVID-19 impact analysis on the Steam Boiler Market: https://www.alliedmarketresearch.com/request-for-customization/10978?reqfor=covid

The chemical segment held the largest share

By end-use industry, the chemical segment dominated in 2019, holding nearly half of the global steam boiler market, due to rise in demand for steam boilers from the chemical processing applications ranging from heating fluids to driving equipment. However, the power generation segment is expected to portray the highest CAGR of 3.5% during the forecast period, owing to increase in electricity demand from the various customers ranging from individual residential customers to industrial customers across the globe.

North America dominated the market

By region, the market across North America held the largest share in 2019, contributing to more than one-third of the market, due to increase in demand for steam boilers from large-scale industries such as mining, power, healthcare, commercial, manufacturing, and data centers. However, the global steam boiler market across Asia-Pacific is projected the highest CAGR of 3.6% during the forecast period, owing to large number of key players and availability of the manufacturing facilities in these countries.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/10978

Major market players

General Electric
IHI Corporation
Babcock & Wilcox Enterprises, Inc.
Mitsubishi Heavy Industries, Ltd.
Forbes Marshall
Alfa Laval AB
Viessmann Limited
Hurst Boiler & Welding, Inc.
Thyssenkrup
Thermax Limited.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/steam-boiler-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have:

Residential boiler market is expected to reach $12.3 billion by 2027, registering a CAGR of 5.8% from 2020 to 2027.

Solar water heater market was valued at $4.7 billion in 2019, and is projected to reach $6.7 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.

Hydropower generation market was valued at $202.4 billion in 2019, and is projected to reach $317.8 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.

Geothermal power market is projected to reach $6.8 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026.

Steam turbine market is projected to reach $30.2 billion by 2027, growing at a CAGR of 2.8% from 2020 to 2027.

Biodegradable engine oil market is projected to reach $1,180.4 million by 2027, growing at a CAGR of 4.3% from 2020 to 2027.

Pre-Book Now with 10% Discount:

Combi Boiler Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Heat Recovery Steam Generator Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Industrial Boilers Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020- 2027

Power Plant Boiler Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Ring Main Unit (RMU) Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter