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Steam Boiler Market Growth at a CAGR of 3.6% from 2021 to 2030

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The global Steam Boiler market size is expected to reach USD 20.7 billion by 2030 and is expected to expand at a CAGR of 3.6% from 2021 to 2030.

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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

  • The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
  • A comprehensive analysis of the factors that drive and restrict the growth of the global steam boiler market is provided.
  • Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the steam boiler market players to adopt effective strategies.
  • Estimations and forecast are based on factors impacting the global steam boiler market growth in terms of value.
  • Key market players are profiled to gain an understanding of the strategies adopted by them.
  • This report provides a detailed analysis of the current global steam boiler market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
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

  • Water Tube Boiler
  • Fire Tube Boiler

By Fuel Type

  • Coal Fired
  • Oil Fired
  • Gas Fired
  • Others

By Pressure

  • Low Pressure
  • High Pressure

By End-Use Industry

  • Power Generation
  • Oil & Gas
  • Chemical
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

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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 Contents

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

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