Superheater Market Overview
According to the report published by Market Research Future (MRFR), the global superheater market is anticipated to attain USD 4.52 bn by the conclusion of 2024 and is likely to develop at 4.50% CAGR over the period 2019 to 2024. The surging number of power plants and the extensive growth of the steam boilers market are some of the aspects propelling the global superheaters market.
Also, the worldwide superheater market is expected to grow at a substantial growth rate over the review period owing to the rising capacity of power plants. A superheater is an equipment which is incorporated to convert saturated steam into superheated steam. This equipment is also used in steam turbines for the generation of electricity, steam engines, and steam reforming.
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Superheaters can be classified into three broad categories, which include combined superheaters, radiant superheaters, and convection superheaters. A convection superheater finds extensive usage in various applications and is situated behind or above banks of water tubes to save them from direct fire. Radiant superheaters are found near a furnace where it obtains the maximum amount of heat generated through radiation after sufficient combustion of the fuel. Blended superheaters have an inclination towards the falling steam temperature attributes of the convection as well as radiant superheaters. It has the benefit of offering a consistent steam temperature over a very wide range in load. The key application areas where superheaters are being employed encompass the steam turbines and marine steam boilers.
As per the International Energy Agency (IEA), an outlay of almost USD 9.5 trillion has been provisioned for the construction of new power plants and renovation of the existing ones by the conclusion of 2035. Additionally, the urban population is likely to account for above 60% of the total population.
Superheater Market Segmentation
The global superheater market is segmented based on application, region, and type.
According to type, the global superheater market is segmented into convection superheaters, combined superheaters, and radiant superheaters.
The radiant type segment leads the market owing to the fact that when the boiler load is decreased by approximately 50%, the heat of the flue gas is relatively slashed as a result the convection superheater is expected capture reduced heat.
A radiant superheater has the capacity to sustain the heat at almost any load, thereby continuing final superheat temperature. These aspects will encourage end users to integrate radiant superheaters.
The worldwide superheater market is projected to reflect a prominent growth rate over the assessment period, owing to the spurring number of power plants and their surging power capacity. Asia-Pacific is likely to dominate the superheater market, which is primarily driven by India and China. For example, according to China’s five-year-plan of 2019, China would be capable of building 2 large coal power stations within a month for subsequent 12 years, thereby mushrooming the country’s ability by twice the size of Europe’s total coal capacity. This would also accelerate the growth of demand for superheaters, which forms a significant part of power plants. Additionally, Asia-Pacific is within the most diversified industrial hubs with more than 70,000 products that have uses in fertilizer, petrochemicals,cosmetics, and pharmaceuticals industries. Supportive policies for industrial growth, low-cost of raw materials, easy availability of cheap labor along with its low cost has turned India and China into lucrative industrial markets and fastest emerging economies, across the world. All these aspects are estimated to fuel the growth of superheater market on regional basis.
Global superheater market is ruled by key players such as Chromalox, National Boiler Service, Birwelco, Optimus Industries, Sussman Electric Boilers, Alfa Laval, Watlow, Sandvik AB, KNM Group, Maarky Thermal Systems Inc., Uchino Co., Ltd.,and VPI Acquisition Company LLC.
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