Steam Boiler Market Size to Surpass Around US$ 20.7 Bn by 2030
The global steam boiler market size was valued at US$ 15.8 billion in 2020 and is projected to surpass around US$ 20.7 billion by 2030, with a CAGR of 3.6% from 2021 to 2030.
Steam boiler, also known as steam generator, is a component that generates steam from water by application of heat. The general efficiency of a steam boiler is 80% - 90%. This efficiency is attributed to some losses occurred due to incomplete combustion, radiation loss, and other heating losses. The steam generated by a steam boiler is utilized in producing power, industrial applications, and heating applications.
Rise in demand for steam boilers from end-use industries across the globe is a key factor driving the growth of the steam boiler market. In addition, increase in investment toward the power generation sector, owing to rise in electricity demand significantly contributes to the growth of the global steam boiler market. However, increase in investment in renewable energy power generation, stringent governmental regulations toward greenhouse gas emissions from conventional fuel sources, and high initial cost associated with steam boilers hamper the growth of the global market. Conversely, technological advancements in steam boilers for high heating efficiency and upgrading of aging power generation infrastructure are expected to create potential growth opportunities for key players operating in the market.
The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Covid-19 scenario:
The Covid-19 pandemic and the prolonged lockdown put the import & export activities on hold, especially during the initial phase. Furthermore, it impacted the manufacturing & processing activities across various industries. This declined the demand for electricity from the end-user industries.
The demand for steam boilers would rise as the need for electricity has increased in the first quarter of 2021 from the customers.
Report Highlights
Based on fuel type, coal fired segment held the lion’s share in 2020, accounting for nearly two-thirds of the global market. On the other hand, the gas fired segment is estimated to register the highest CAGR of 3.9% during the forecast period.
Based on end-use industry, the chemical segment held highest share in 2020, with nearly half of the global steam boiler market. Conversely, the power generation segment is expected to showcase the highest CAGR of 3.7% during the forecast period.
Based on region, the market is studied across regions including Asia-Pacific, LAMEA, North America, and Europe. The market across North America dominated with largest share in 2020, holding more than one-third of the market. However, the global steam boiler market across Asia-Pacific is expected to manifest the highest CAGR of 4% during the forecast period.
Key Players
Major market players profiled in the report include General Electric, IHI Corporation, Babcock & Wilcox Enterprises, Inc., Mitsubishi Heavy Industries, Ltd., Forbes Marshall, Alfa Laval AB, Viessmann Limited, Hurst Boiler & Welding, Inc., Thyssenkrup, and Thermax Limited.
Key benefits for stakeholders
| Report Coverage | Details |
| Market Size | US$ 20.7 billion by 2030 |
| Growth Rate | CAGR of 3.6% from 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type, Fuel, Pressure, End-Use Industry |
| Regional Scope | North America, Europe, Asia-Pacific, LAMEA |
| Companies Mentioned | 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 |
Market Segmentation
By Type
By Fuel Type
By Pressure
By End-Use Industry
By Region
The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.
COVID-19 Impact
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the steam boiler market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
Major highlights of Report:
Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the steam boiler market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the steam boiler market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Steam boiler market.
Market Segments: This part of the report discusses about product, application and other segments of the steam boiler market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Table of Conetnts
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Steam Boiler Market, By Product
7.1. Steam Boiler Market, by Product Type, 2021-2030
7.1.1. Water Tube Boiler
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Fire Tube Boiler
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Steam Boiler Market, By Fuel
8.1. Steam Boiler Market, by Fuel, 2021-2030
8.1.1. Coal Fired
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Oil Fired
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Gas Fired
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Steam Boiler Market, By Pressure Type
9.1. Steam Boiler Market, by Pressure Type, 2021-2030
9.1.1. Low Pressure
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. High Pressure
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Steam Boiler Market, By End-User Type
10.1. Steam Boiler Market, by End-User Type, 2021-2030
10.1.1. Power Generation
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Oil & Gas
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Chemical
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Steam Boiler Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.1.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.1.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.1.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.1.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.2.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.2.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.2.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.2.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.2.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.2.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.3.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.3.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.3.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.3.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.3.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.3.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.4.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.4.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.4.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.4.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.4.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.4.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.5.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Fuel (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Pressure Type (2017-2030)
11.5.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
Chapter 12. Company Profiles
12.1. General Electric
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. IHI Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Babcock & Wilcox Enterprises, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Mitsubishi Heavy Industries, Ltd.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Forbes Marshall
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Alfa Laval AB
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Viessmann Limited
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Hurst Boiler & Welding, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Thyssenkrup
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Thermax Limited
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers