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Superheater Market Trends

ID: MRFR//6296-HCR | 111 Pages | Author: Anshula Mandaokar| July 2024

Global Superheater Market Overview:

Superheater Market Size was valued at USD 5.06 Billion in 2023. The Superheater market industry is projected to grow from USD 5.34 Billion in 2024 to USD 7.76 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.79% during the forecast period (2024 - 2032). The expanding steam boilers market and the expanding power plant building are the key market drivers enhancing the market growth.

Global Superheater Market Overview1

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The superheater market is growing rapidly with a lot of important industry developments taking place. In December 2022, Mutares successfully acquired Heat Transfer Technology (NEM Energy) from Siemens Energy B.V. Formerly known as NEM, the company operates worldwide in steam generator development, designing, engineering, purchasing and supply for various heat transfer applications ranging from small industrial waste heat boilers to huge heat recovery steam generators for gas-fired power stations.

Summit Meghnaghat-II Power Company Limited and General Electric signed an EPC agreement in May 2021. As a turnkey EPC contract, General Electric will deliver a gas turbine with a three-phase level, reheater drum type heat recovery steam generator, steam and gas turbine, and balance of plant solutions.

In July 2027, BHEL suddenly came up with the ultra-supercritical boiler that contained superheaters and plants in which these boilers are installed can achieve higher efficiency compared to those with supercritical boilers.

In October 2014, Metso supplied an innovative solution for controlling corrosion on a superheater to TAURON, Cielpo's Tychy CHP plant in Poland. The solution was the provision of a Corroded Analyzer by Metso and the DNA Corrosion Manager application. An innovative solution developed by Metso and Valmet gives more details about what is occurring inside the boiler.

Superheater Market Trends

  • Growing use of superheater is driving the market growth

Market CAGR for superheater is being driven by the rising use of superheater. Since using superheated steam in these industries is essential, the boiler and power plant industries serve as the main drivers of the superheater business. Superheaters are used extensively, as electricity generation accounts for more than 60% of all forms of power generation globally. 

Depending on its use, a typical superheater can last anywhere between 6 and more than 25 years. Depending on when it happens, the superheater tubes should be inspected every 100,000th operating hour or six years following installation. This calls for an acceptable replacement rate, steadily increasing company volume and the superheater market. The newest trend in the superheaters market is government incentives to construct additional plants to create more energy units. Such government policies are anticipated to propel the market's growth over the forecast period. 

A superheater comprises bent pipes called superheater coils, a firebox, exchange valves, flue gas exhaust and a boiler/evaporator drum. The fuel is burnt in the firebox located underneath the superheater coils. Through an open valve, steam from the boiler/evaporator drum enters the superheater tubes, where the firebox's heat transforms the wet steam into superheated/dry steam. After that, dry steam is sent through rotating turbines to produce electricity. Superheaters are available in a range of forms and dimensions. 

The two fundamental forms of superheaters are convection and radiant. The radiant type is introduced directly into the combustion chamber, whereas the convection type is placed between the hot flue gases. The rising number of power plants and the quick expansion of the steam boiler industry are some of the factors propelling the superheater market. In addition, Asia-Pacific is one of the most diversified industrial centers in the world, producing more than 70,000 products for the fertilizer, petrochemical, pharmaceutical, and cosmetics sectors. 

The main factor driving the growth of the superheater market has been the development of power plant capacity. A constant expansion in the capacity of oil and gas refining and total power output will likely be the main drivers of the superheater market. Heat exchangers are used to manufacture chemicals, petrochemicals, oil and gas, HVACR, food and beverages, and electricity. In addition, the market is anticipated to be significantly fueled by the rising demand for the goods and services provided by these sectors on a scale.

Additionally, it is anticipated that a key factor fueling the market's expansion would be the rise in demand for superheaters in the automotive sector. Furthermore, because of regulations that favor industrial expansion, inexpensive raw materials, cheap labor costs, and accessibility, China and India have developed as desirable industrial markets and the fastest-growing economies in the world. All of these elements are anticipated to boost the superheater industry. Thus, driving the Superheater market revenue.

Superheater Market Segment Insights:

Superheater Type Insights

The Superheater market segmentation, based on type includes radiant superheaters, convection superheaters, and combined superheaters. The radiant superheaters segment dominated the market, accounting for 35% of market revenue. The flue gas's heat content is significantly reduced, which results in less heat being recovered by the convection superheater. 

As a result, the radiant type segment commands the majority of the market. A radiant superheater can sustain heat under almost any load and can keep the temperature of the ultimate superheat constant. End customers will be compelled to install radiant superheaters as a result of these causes.

Superheater Application Insights

The Superheater market segmentation, based on application, includes power generation, industrial, oil & gas, and others. The power generation generated the most income. The power generating industry, in which all of the power plants are employed, is the source of the need for superheaters. 

Along with oil and gas, the industrial segment is anticipated to have considerable expansion throughout the projection period due to the predicted increasing industrialization and rise in oil production in the aforementioned industries.

Figure 1: Superheater Market, by Application, 2022 & 2032 (USD Billion)

Superheater Market, by Application

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Superheater Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Superheater market area will dominate this market, The region of the world that consumes the most electricity is predicted to do so for the foreseeable future. 

The need for superheaters, which are utilised in power production facilities, will increase as a result of this rise.Recent developments in superheater technology have increased the efficiency and dependability of superheaters. These innovations are helping the industry expand by increasing the appeal of superheaters to potential customers.

Further, the major countries studied in the market report are The US, Canada, Japan, India, German, France, the UK, Italy, Spain, China, Australia, South Korea, and Brazil.

Figure 2: Superheater Market Share By Region 2022 (USD Billion)

Superheater Market Share By Region

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Superheater. With the growth of several sectors employing superheaters, such as the textile, food, and beverage, and district heating industries, the market for superheaters is predicted to increase in Europe. Furthermore, the German Superheater market dominated, while the UK Superheater market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Superheater Market will develop quickly The regions stated in this scenario are clearly the focus of the superheater market. India's power industry is flourishing, and the nation has implemented several enticing policies, such as 100% FDI in the power sector. 

Since superheaters would be built in power production facilities, it is predicted that China and India will account for almost 70% of all the proposed thermal power capacity expansion over the projection period. Furthermore, China's Superheater market had the highest market share, while India's Superheater market was the fastest expanding in the Asia-Pacific region.

Superheater Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Superheater market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Superheater industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Superheater industry to serve clients and expand the market sector. The Superheater industry has provided some of the most important benefits recently.  Alfa Laval and other major competitors in the Superheater market are seeking to improve market demand by investing in R&D efforts.

Alfa Laval is a top supplier of top-notch goods for fluid handling, heat transfer, and separation. With these as its cornerstone, Alfa Laval seeks to improve its clients' productivity and competitiveness across various sectors. We identify their problems and provide them with environmentally friendly goods and services that satisfy their needs, particularly in energy, the environment, agriculture, and the maritime sector. Gustaf de Laval and Oscar Lamm established the Swedish business Alfa Laval AB in 1883. 

The business, which first dealt with developing specialized goods and solutions for heavy industry, began by offering centrifugal separation solutions for dairy (see Separator (milk)). Items, including oil, water, chemicals, drinks, meals, starch, medications, heat, chill, separate, and convey the items. The Energy business of Alfa Laval has a long history of working with end-markets in the petrochemicals and oil refineries and in the processing and transportation of oil, gas and renewable fuels. 

Other industries include pulp, paper, municipal and industrial waste treatment and recycling, HVAC applications, district heating and cooling, power generation, engine cooling, bio-based materials, and minerals. Heat exchangers and large-scale centrifugal separation technologies are examples of product categories. The headquarters of Alfa Laval is in Lund, Sweden, and it has affiliate businesses in more than a hundred nations, including South Africa, Denmark, Italy, India, Japan, China, the Netherlands, and the United States.

Modern heat transfer tools and services are offered to power plants worldwide by Maarky Thermal Systems. Engineers at Maarky have been praised for creating equipment that performs optimally and consistently. The company's motto permeates every aspect of Maarky's culture, "Innovate & Implement ."Maarky strives daily to pursue innovations and improvements in all business-related areas, including project management, quality assurance, after-sales service, sales and marketing, equipment design, and customer satisfaction. 

Hundreds of feedwater heaters and steam surface condensers with a combined generating capacity of over 100,000 MW have been created by Maarky engineers. The heat transfer components operate to the highest levels of efficiency thanks to innovative and optimized designs and great product expertise. When robust designs are paired with appropriate safety measures, the best performance is possible during normal and transient operations.

Key Companies in the Superheater market include

  • 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.

  • Uchino Co., Ltd.

Superheater Market Segmentation:

Superheater Type Outlook

  • Radiant Superheaters

  • Convection Superheaters

  • Combined Superheaters

Superheater Application Outlook

  • Power Generation

  • Industrial

  • Oil & Gas

  • Others

Superheater Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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