Taille, prévisions et tendances du marché mondial pour la période 2025-2037
The steam generator market size exceeded USD 12.82 billion in 2024 and is projected to exceed USD 19.8 billion by 2037, growing at a CAGR of over 3.4% during the forecast period, i.e., 2025 to 2037. In 2025, the steam generator industry size is estimated to be USD 13.53 billion.
The market growth is primarily driven by advancements in heat transfer technology and advanced steam control. Additionally, the growing global demand for electricity has created a need among energy industry players to increase daily energy production, which is expected to drive market growth. In 2018, approximately 23 trillion kWh of electricity was consumed worldwide, compared to 22 and 21 trillion kWh of electricity in 2017 and 2016, respectively.
Furthermore, the growing demand for energy-efficient systems, coupled with the increased use of machines to generate dry and saturated steam for pharmaceutical plants, is expected to fuel the market growth in the near future. It was noted that global energy demand increased by 2.3% in 2019, with buildings and industry accounting for 80% of this increase. Energy efficiency improvements accounted for 40% of the reduction in global energy demand in 2019. They are widely used to reduce production load and avoid low steam rates. This has been assessed as a key factor likely to create lucrative opportunities for the market during the forecast period. A steam generator is a low-water consumption boiler of a type similar to a flash steam boiler. The usual construction is a helical coil of water tubes arranged as a single-tube or multi-tube coil. Circulation is carried out in the form of a forced circulation boiler in the flow and pumped under pressure.
Secteur des générateurs de vapeur : moteurs de croissance et défis
Growth drivers
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Increasing urbanization growth – The population movement from rural to urban areas, the concomitant decline in the number of individuals living in rural areas, and how societies adapt to this transition are also included. Urbanization is increasing significantly worldwide and is expected to increase further during the forecast period. Globally, 55% of the population lived in cities in 2018, and 68% are expected to do so by 2050. The rate of urbanization is increasing as more and more individuals tend to settle in urban areas. As a result, the demand for electrical services has increased, which has increased the use of steam generators for various activities.
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Growing demand for electricity : Demand for electricity is increasing due to population growth, urbanization, and industrialization. Steam generators are used in thermal power plants to generate electricity, and the growing demand for electricity is expected to drive the steam generator market. Global electricity demand increased by 3% in 2019, with buildings and industry accounting for 80% of this increase.
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Growing interest in renewable energy : The world is moving toward renewable energy sources, and steam generators are being used in solar thermal power plants to generate electricity. The growing focus on renewable energy is expected to boost the steam generator market. The world has seen a significant increase in renewable energy generation capacity in recent years. At the end of 2020, renewable energy had a total installed capacity of 2,799 GW, a 45% increase from 2015.
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Increased Research Spending - The growth of the global market during the forecast period can further be attributed to the increasing investment in research and development activities to continually find more viable solutions for steam generation. Research reports show that global R&D spending has more than tripled in real terms since 2000, increasing from approximately USD 680 billion to over USD 2.5 trillion in 2019.
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Rising electricity consumption – The planet consumed nearly 23,500 TWh (terawatt hours) of electricity in 2020, according to the International Energy Agency (IEA), and this consumption is expected to increase further during the forecast period.
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A rapidly growing chemical industry – For example, the demand for chemicals is expected to increase by 8% annually until 2025. By 2025, the Indian chemical industry will contribute USD 290 billion to its gross domestic product.
Challenges
- High Cost of Installing Steam Generators – The cost of installing steam generators can be high due to several factors including equipment cost, civil works, etc., which is expected to restrain the market growth.
- Lack of qualified professionals
- Presence of an alternative to the product
Marché des générateurs de vapeur : informations clés
| Attribut du rapport | Détails |
|---|---|
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Année de référence |
2024 |
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Année de prévision |
2025-2037 |
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TCAC |
3,4% |
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Taille du marché de l’année de référence (2024) |
12,82 milliards de dollars |
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Taille du marché de l’année de prévision (2037) |
19,8 milliards de dollars |
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Portée régionale |
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Segmentation des générateurs de vapeur
End user (utilities, chemicals, pharmaceuticals, refineries, pulp and paper)
The global steam generator market is segmented and analyzed based on demand and supply by end user into cellular utilities, chemicals, pharmaceuticals, refineries, pulp and paper, and others. Among these end-user types, the utilities segment is expected to gain the largest market share of approximately 35% in 2037. The growth of this segment can be attributed to the extensive use of steam generators by the utilities sector to recover heat from existing industrial processes. Additionally, based on materials, the austenitic segment is expected to hold the largest share during the forecast period owing to the high resistance to hydrogen embrittlement of this class of steels. Apart from this, the excellent heat resistance, corrosion resistance, and ductility of this steel are expected to drive the growth of this market segment in the coming years. A public utility is an organization that maintains the infrastructure of a public service. Utilities are subject to public control and regulation, from local community groups to state-wide government monopolies. Utilities include telecommunications, electricity, natural gas, some transportation services, and water and wastewater treatment services provided by private companies. The telecommunications industry is composed of a mix of large and small players around the world. AT&T Corporation makes more money than any other carrier with revenues of nearly $172 billion, but China's total telecommunications asset base is much larger than that. This broad term is based on four basic principles: form utility, time utility, place utility, and possession utility.
Material (martensitic, ferritic, austenitic)
The global steam generator market is also segmented and analyzed for demand and supply by material into martensitic, ferritic, austenitic, and others. Among these five segments, the martensitic segment is expected to account for a significant share of approximately 30% by 2037. Martensitic is a very hard form of the crystalline structure of steel. It is named after the German metallurgist Adolf Martens. Similarly, the term can also refer to any crystalline structure resulting from a non-diffusive transformation. Martensitic is a descriptive term used to refer to martensitic stainless steels. Martensitic stainless steel is a type of steel with carbon added and has a body-centered tetragonal crystal structure. The main difference between austenitic stainless steel and martensitic stainless steel is that the crystal structure of austenitic stainless steel is face-centered cubic, while the crystal structure of martensitic stainless steel is body-centered cubic. Martensitic steel is very useful in automotive applications such as door beams, bumpers, very light and strong lower side members (sill plates), car cross beams, and beams designed to prevent intrusion into the vehicle interior. Therefore, it is estimated that the growth in vehicle sales will drive segment growth. For example, it was noted that global passenger car sales in 2020 reached approximately 63 million units.
Our in-depth analysis of the global market includes the following segments:
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By end user |
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By material |
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By nominal power |
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Personnaliser ce rapportIndustrie des générateurs de vapeur – Synopsis régional
APAC Market Statistics
The Asia-Pacific steam generator market is expected to hold the largest market share of approximately 35% by the end of 2036, among all other regions. The regional growth can be primarily attributed to the increasing focus on technological process improvement and high manufacturing output. In 2020, China's manufacturing output was approximately $3.85 trillion, an increase of 0.8% from 2019. Moreover, the increasing production of sterile products in the pharmaceutical industry is expected to drive market growth in the region in the future. Furthermore, the regional market is also expected to gain a significant share during the forecast period due to the high adoption rate of modern steam generator technology and the strong presence of major market players in the region. A steam generator is a device that uses a heat source to boil liquid water, transforming it into a gaseous phase called steam. Heat can be generated by the combustion of fuels such as coal, oil, natural gas, municipal waste or biomass, nuclear fission reactors, and other sources. Steam generators range from small medical and home humidifiers to large steam generators used in traditional coal-fired power plants, producing approximately 3,500 kilograms of steam per megawatt-hour of electricity production.
North American Market Forecast
The North American steam generator market is expected to hold the second-largest share of approximately 24% over the forecast period, among all other regions. The market growth in this region can be primarily attributed to high urbanization and increased housing projects in the region. Public housing expenditures were approximately $9 billion in 2020, up from approximately $6.5 billion in 2019. Population growth is expected to boost domestic demand and electricity demand. Additionally, approximately 20 million apartments are expected to be built in the region over the next ten years. The US commercial construction sector is expected to grow in the coming years. The University of Illinois at Chicago (UIC) recently announced plans to build a $95 million arts center on its campus. The 900,000-square-foot building is primarily used by its UIC School of Drama and Music. All these factors are estimated to increase the demand for steam generators in this region during the forecast period and hence fuel the growth of the regional market.
European Market Forecast
Furthermore, the steam generator market in Europe is expected to hold the majority share among all other regions by the end of 2036. The market growth can be largely attributed to the growing demand for electricity in the region. The demand for electricity in Europe is increasing due to population growth, urbanization, and industrialization. Steam generators are used in thermal power plants to generate electricity, and the growing demand for electricity is expected to drive the steam generator market. Many European countries have set targets to reduce greenhouse gas emissions and promote the use of renewable energy sources. Steam generators are used in solar thermal power plants to generate electricity, and the increasing focus on renewable energy is expected to drive the steam generator market. Many power plants in Europe are old and inefficient, and there is a need to replace them with new, more efficient ones. Steam generators are used in modern power plants to generate electricity, which is expected to drive the steam generator market.
Entreprises dominant le paysage des générateurs de vapeur
- Robert Bosch GmbH
- Company presentation
- Business strategy
- Key Product Offerings
- Financial performance
- Key performance indicators
- Risk analysis
- Recent development
- Regional presence
- SWOT analysis
- Sioux Corporation
- Ecostil Group Srl
- Elma GmbH & Co. KG
- Hitachi Zosen Inova AG
- Matachana Group
- Westinghouse Electric Company LLC
- BBM Akustik Technologie GmbH
- Larsen & Toubro Ltd
- Aqua-Nova AB
In the News
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Larsen & Toubro has delivered a 700 MW steam generator to Gorakhpur Haryana Anu Vidyut Pariyojana, 36 months ahead of schedule.
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Mitsubishi Power Europe has won a contract to supply waste heat boilers for a new combined cycle power plant in Flensburg, Germany.
Crédits des auteurs: Dhruv Bhatia
- Report ID: 3770
- Published Date: Apr 05, 2023
- Report Format: PDF, PPT
