ID: MRFR/E&P/6296-HCR | 111 Pages | Published By Anshula Mandaokar on March 2023
Superheater Market is projected to be worth USD 6.73 billion by 2027, registering a CAGR of 5.49% CAGR during the forecast period (2022 - 2030).
2022 - 2030
The Superheater Market Size is expected to be valued at USD 6.73 billion by the end of the Superheater Industry Analysis, registering a CAGR of 5.49% during the Superheater Market Analysis. The term superheater refers to a device that converts saturated steam into superheated steam. These devices are also employed in electricity-generating steam turbines, steam reforming, and steam engines. Convection superheaters, combination superheaters, and radiant superheaters are the three types of superheaters that can be found. A convection superheater is a device that protects water tubes from direct fire and is found above or behind banks of tubes in a variety of applications. Radiant superheaters are found near furnaces that obtain the majority of their heat from the flue after the fuel has been burned. Combined superheaters combine the radiant as well as convection superheaters' dropping steam temperature features. It has the advantage of maintaining a steady stream temperature across a wide load range. Marine steam boilers and steam turbines are two of the most common applications for superheaters.
The COVD-19 outbreak has harmed the industry's supply chain, and it has also decreased the Superheater Market Growth. The epidemic of COVID-19 has a huge influence on trade and business. To recover from the current situation, manufacturers are reconsidering their product lines and developing new products. When measuring the pandemic's overall impact, the duration of the pandemic's transmission remains a key problem. The pandemic hampered many industrial activities and disrupted the supply chain, affecting practically all industries. Due to a lack of workers, most businesses have ceased operations. However, due to the influence of COVID-19, the Superheater Market Share is sluggishly declining. The COVID-19 epidemic has had a rapid and devastating impact on the global automotive sector. Disruption in Chinese components exports, large-scale manufacturing disruptions across Europe, and the closure of assembly factories in the United States are all factors. However, a drop in automotive sales resulted in a drop in radiator sales, which had a significant influence on the superheater business. Superheater sales are directly linked to oil and gas consumption. The oil and gas industry has been badly damaged by the COVID-19 outbreak shutdown, and crude prices have plummeted in 2020 as a result of resuming overflow production. However, sustained upstream activities have not influenced superheater demand.
Some of the factors driving the Superheater Market include the growing number of power plants and the rapid growth of the steam boilers market. Furthermore, Asia-Pacific is one of the world's most diverse industrial hubs, with over 70,000 goods used in the cosmetics, petrochemicals, pharmaceuticals, and fertilizer industries. The expansion of power plant capacity has been a primary driver of Superheater Market Growth. The Superheater Market will most likely be driven by factors such as an ongoing increase in overall power production capacity and oil and gas refining capacity. Chemical, petrochemical, oil & gas, HVACR, food & drinks, and power generation all employ heat exchangers. Furthermore, the global increase in demand for these industries' products and services is expected to be a major driving force for the market. Furthermore, the rise in demand for superheaters in the automotive industry is projected to be a major driver driving the growth of the market. Furthermore, China and India have become attractive industrial markets and the world's fastest-expanding economies due to supporting industrial growth policies, low-cost raw commodities, low labor costs, and ease of access. The superheater market is projected to be driven by all of these factors.
The Superheater Market Size is projected to be restrained by renewable energy sources that rarely require Superheaters. Superheaters have an impact on the overall efficiency and size of a system. To accomplish the desired tradeoff between system efficiency and system size, Superheater designs must strike a compromise between heat exchanger efficacy and pressure drop. Each energy conversion system application is expected to have a different tradeoff between system efficiency and system size.
The superheater market share is likely to benefit from technological advancements in Superheaters such as pressure boilers, which can combust various types of fuels and are thus employed based on the availability and cost-effectiveness of the fuel. Superheaters also include air preheaters, economizers, evaporators, superheaters, condensers, and cooling towers used in power plants. Furthermore, Superheaters are a key component of a closed, recuperated Brayton cycle that uses supercritical carbon dioxide (sCO2) as the working fluid for efficient power generation.
The Superheater Market is further bifurcated into various segments depending on various factors to help the market grow as per the predicted CAGR growth by the end of the Superheater Market Forecast period. The market has been segmented based on the following:
Based on the type, the market has been segmented as follows:
Based on the application, the market has been segmented as follows:
Based on the region, the market has been segmented as follows:
Because of the expanding number of power plants and their increasing power capacity, the worldwide superheater market is predicted to rise at a high rate over the forecast period. The superheater market is predicted to be led by Asia-Pacific, which is primarily driven by China and India. According to China's five-year plan, the country will be able to build two major coal power stations per month for the following 12 years, doubling the country's total coal capacity. This would also increase demand for superheaters, a critical component of power plants. Because of the region's ongoing expansion in energy demand, the Asia-Pacific region is expected to be the fastest-growing and largest market. Many governments and businesses in the region are spending heavily on the power and refining sectors, which employ a variety of superheaters. Because of the increasing capacity of power plants, the worldwide superheater market is expected to increase at a high rate during the forecast period. During the predicted period, China and India's economies are expected to be among the fastest-growing. During the same period, these countries are expected to account for roughly 70% of all proposed thermal power capacity additions. Similarly, as the world's second-largest region, North America is concentrating on its immediate need for reliable power supply infrastructure. This will increase the demand for superheaters in both developing and established countries.
Several strategic implementations, such as expansion, collaboration, mergers, and acquisitions, are taking place in the Superheater sector. Because of government programs, green buildings are likely to be built. Consumers worried about the environmental impact of buildings and Superheater installation are prepared to pay more for fireproof and fire-retardant Superheater systems. Environmental credits for green buildings, as well as material advancements, are likely to boost adoption in commercial and industrial structures. In the coming years, fire-resistant thermal insulation materials and the development of novel bonding agents to ensure structural designs are likely to be key themes. The major Superheater Market Key Players are as follows:
Due to rising population and utility usage, the processing vessel segment is predicted to be the fastest-growing market segment and would likely dominate the pressure vessel market throughout the forecast period as by Sussman Electric Boilers.
In the Asia-Pacific area, overall electricity generation accounted for around 46% of global electricity generation, with a large number of superheaters in use.
The research includes an in-depth analysis of global Superheater industry trends as well as market forecasts for the present and future. This study examines the market's key drivers, opportunities, and restraints, as well as their influence over the forecast period. The analysis aids in determining the potential of customers and suppliers, as well as the competitive landscape of the global Superheater market, to develop a strategy. The factors that drive and restrict market expansion are covered in depth in a thorough global Superheater market forecast analysis. The qualitative report contains data that focused on market dynamics, trends, and developments. This research analyses the Superheater industry, including current trends and future estimates, to discover prospective investment opportunities. The study offers a thorough examination of the Superheater Market, as well as data on key drivers, restraints, and opportunities. The existing market is statistically studied to illustrate the Superheater Market growth scenario.
|CAGR||5.49% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||National Boiler Service, Chromalox, Optimus Industries, Birwelco, Alfa Laval, Sussman Electric Boilers, Watlow, KNM Group, Sandvik AB, VPI Acquisition Company LLC, Maarky Thermal Systems Inc., and Uchino Co., Ltd.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
The segments of the superheater market, by type, are convection superheaters, radiant superheaters, and combined superheaters.
The segments based on application are industrial, power generation, oil & gas, and others.
The superheater market is poised to mark 5.49% CAGR.
APAC is presumed to lead the superheater market.
The prominent players are Chromalox, National Boiler Service, Optimus Industries, Sussman Electric Boilers, Maarky Thermal Systems Inc., Birwelco, Alfa Laval, Watlow, Sandvik AB, KNM Group, VPI Acquisition Company LLC, and Uchino Co., Ltd.