Steam Boiler Systems Market Size to Grow from USD 17.5 Billion in 2023 to USD 27.5 Billion by 2034, at a CAGR of 4.3%| Analysis by Transparency Market Research Inc.

Industrial steam generators are becoming more and more popular in a variety of industries, such as the processing of chemicals and energy. An increase in the market growth for steam boiler systems in the demand for energy-efficient boilers.

Wilmington, Delaware, United States, Transparency Market Research, Inc. , Sept. 09, 2024 (GLOBE NEWSWIRE) — The global steam boiler systems market (merkado ng mga sistema ng steam boiler) was projected to attain US$ 17.5 billion in 2023. It is anticipated to garner a 4.3% CAGR from 2024 to 2034, and by 2034, the market is likely to attain US$ 27.5 billion.

A steam boiler converts water into steam by using the heat from a fuel source. Steam is subsequently utilized for a number of industrial and commercial processes, including heating and power generation. The basic working principle of the boiler is the combustion of fuel in the combustion chamber, which produces hot gases that radiate heat energy into the surrounding water, causing it to boil.

Boiler systems that produce steam include fire tube boilers, water tube boilers, and super heaters. Boilers must be operated safely and effectively, which requires regular maintenance and attention to safety protocols. Numerous sectors, including food and beverage, pharmaceutical and healthcare, oil and gas, pulp and paper, and power generating, employ steam boiler systems.

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Key Findings of Market Report

• Steam boiler systems are used by many sectors for a range of applications because they generate steam.
• The most prevalent uses are in industrial companies and industries that use steam for heating, as well as in power plants.
• Auxiliary boilers can help Combined Cycle Gas Turbine (CCGT) facilities shorten their steam turbines’ cold starting times. Electrode-based electrical boilers are used by large power plants because they provide CCGT facilities with a highly adjustable solution for the operational preparedness of their steam turbines.
• It is anticipated that the market for steam boiler systems would develop in the near future due to the rise in the use of electrical boilers.

Market Trends for Steam Boiler Systems

• When electricity usage goes over average, steam boilers are used to provide power so that industries may continue to run their manufacturing and other operations.
• Steam boilers are becoming increasingly popular in the oil and gas, manufacturing, power generating, paper and pulp, and processing industries because of their high efficiency, reliability, and quick starting time.
• Poor combustion, heat transfer fouling, and improper operation and maintenance all contribute to the boiler’s declining performance over time, including its efficiency and evaporation ratio. Manufacturers in the steam boiler systems market are developing goods that use less energy.
• Additionally, these boilers provide easier maintenance and installation. The RESIDENCE HM condensing boiler, which integrates cutting-edge technology to improve performance and energy efficiency, was introduced in January 2024 by Rialto, a part of Carrier Global Corporation, a supplier of intelligent climate and energy solutions. Accordingly, the income of the steam boiler systems business is driven by R&D of energy-efficient boilers.

Global Market for Steam Boiler Systems: Regional Outlook

• In 2023, North America held the majority of the share. The region’s market dynamics are being driven by fast industrialization and increased investment in electricity generation. In North America, boiler technology research and development is likewise increasing market share.
• In March 2024, AtmosZero, a US-based firm, secured $21 million in a Series A investment round to expedite the commercialization of their Boiler 2.0 technology. The business claims that Boiler 2.0 can be seamlessly integrated with PV power generation and storage.

Global Steam Boiler Systems Market: Competitive Landscape

The major players in the global market for steam boiler systems are providing low-carbon and highly energy-efficient solutions. They are developing smart boiler systems with an intuitive user interface and internet access, which facilitates extensive Internet of Things networking.

The following companies are well-known participants in the global steam boiler systems market:

• Cleaver-Brooks
• ZHENGZHOU BOILER (GROUP)
• Buderus
• Doosan
• Clayton Industries
• Byworth Boilers
• BHEL
• Fulton Boiler Works Inc.
• LARSEN & TOUBRO LIMITED
• Hurst Boiler & Welding

Key developments by the players in this market are:

• The ELSB electric steam boiler was introduced by Bosch Industrial Boilers in 2022 as a new product for the production of steam in commercial and industrial settings. The steam boiler generates 350–7500 kg of steam per hour and contributes to emissions reduction.
• ZHENGZHOU BOILER (GROUP) CO. LTD. was the successful bidder for Quzhou County Zhongchi New Materials Co., Ltd.’s four vertical Carbon Rotary Kiln Waste Heat Boiler projects in 2021.

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Global Steam Boiler Systems Market Segmentation

By Boiler Type

• Fire Tube Boiler

• Horizontal Return Tubular Boiler
• Short Fire Box Boiler
• Compact Boiler

• Water Tube Boiler

• Horizontal Straight Tube Boiler
• Bent Tube Boiler
• Cyclone Fired Boiler

• Super Heater

By Application

• Generators
• Steam Engines (Locomotives)
• Cement Production
• Agriculture

By End User

• Food
• Chemical
• Refineries
• Primary Metal
• Thermal Power Plants
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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