![]() ![]() The global steam boiler market covers in-depth information of the major industry participants. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. ![]() Based on end-use industry, it is fragmented into power generation, oil & gas, chemical, and others. By pressure, it is classified into low pressure and high pressure. On the basis of fuel type, it is categorized into coal fired, oil fired, gas fired, and others. Depending on type, the market is bifurcated into water tube boiler and fire tube boiler. The global steam boiler market is segmented into type, fuel type, pressure, end-use industry, and region. On the contrary, rapid growth of end-use industries, such as chemical, food processing, pulp & paper, pharmaceutical, and others, by developing and expanding their production bases or expansion of manufacturing facilities is expected to create opportunity for key players in the market in the coming years. However, high initial cost associated with steam boiler is the key factor expected to hinder the growth of the market during the analyzed timeframe. ![]() In addition, rise in oil & gas offshore and onshore exploration activities is further expected to increase the demand for steam boilers in the future. Rise in demand for electricity across the globe is expected to increase the demand for steam boilers from the power generation industry, which is anticipated to drive the growth of the market during the forecast period. The outbreak of COVID-19 halted the manufacturing activities of end-use industries such as Power Generation, Oil & Gas, and Chemicals which hindered the growth of steam boiler market. Steam boilers are used in various applications, including generation of power, process industries, heating application in residential & commercial buildings, and others. It offers various advantages, including low construction cost, less floor area, portable, easy installation, and others. Steam boiler is a type of closed vessel designed and constructed with steel to generate steam by heating water with the help of combustion of various fuels, including oil, coal, gas, and others. The global steam boiler market size was valued at $15.6 billion in 2019, and is expected to reach $20.0 billion by 2027, registering a CAGR of 3.3% from 2020 to 2027. ![]()
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