Pune, India -- (SBWIRE) -- 03/20/2019 -- The Steam Boiler Systems Market's segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR's report also covers drivers and restraints in the steam boiler systems market.
Infinium Global Research's report covers the annual growth of the global steam boiler systems market. It also includes chapters on the Global steam boiler systems industry trends, geographic analysis, and competitive landscape.
The top key players included in the steam boiler systems market report are Cochran, Doosan Heavy Industries & Construction, Devotion Machineries, Alfa Laval, Byworth Boilers, Cleaver-Brooks, Thermax, Fulton, Parker Boiler, Forbes Marshall, Thermodyne Engineering System, and Viessmann.
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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.
Steam Boiler Systems Market: Industry Insights
Steam boiler or steam generator is a device, which is used to heat the water and turn it into steam, this steam is then used for various purposes including running the steam engines, turbines, carry out various process in industries, heat buildings during cold weather and providing hot water.
Steam Boiler Systems Market: Drivers and Restraints
The growth of the global steam boiler systems market attributes to the growing industrialization and urbanization in the developing countries. Furthermore, increasing demand for power, which resulted in expanding the capacity of conventional power generation, is likely to propel the demand for the steam boiler systems. Additionally, many of the governments are promoting the use of steam boilers for power generation. This also adds up to the growth of the market. However, high initial and maintenance cost of these systems hamper the market in the forecast period.
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Steam Boiler Systems Market: Segmentation
On the basis of boiler type, the market is segmented into different types comprising fire tube boiler, superheater, and a water tube boiler. Water tube boiler is having a considerable market share in 2018. Reliability and safety are major factors to be considered for preferring water tube boiler. Growing demand for water tube boiler in refinery and process industry guide the market. By end-user, the market is divided into chemical manufacturing, refineries, primary metal, thermal power plants, and food. Among the end users, refineries and power plants are leading in the market. Growing industrialization and increasing demand for energy are the driving factors.
Steam Boiler Systems Market: Regional Insights
North America, among other regions, is the largest market for the steam boiler systems. Growing demand for energy and a large number of industries in the region are the main reasons contributing to the dominance of North America. On the other hand, the Asia-Pacific region is a promising market for steam boiler systems. Increasing industrialization and urbanization in the developing countries and government incentives to implement the steam boilers are the major forces contributing to the growth of the market in this region.
Steam Boiler Systems Market: Competitive analysis
The global steam boiler systems market is a competitive one. The leading players in the market are Cochran, Doosan Heavy Industries & Construction, Devotion Machineries, Alfa Laval, Byworth Boilers, Cleaver-Brooks, Thermax, Fulton, Parker Boiler, Forbes Marshall, Thermodyne Engineering System, and Viessmann among others.
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