A superheater is a device that can convert saturated steam into superheated steam. Superheaters are also used in steam turbines for electricity generation, steam engines, and steam reforming. Market Research Future (MRFR) has published a research report about the global superheater market that augurs adumbration for this market at 4.50% CAGR during the forecast period between 2019 and 2024. Superheater Market Size worth the USD 4.52 bn by the end of the forecast period.
The most exigent factors that speed up the global superheater market growth include increasing demand for electricity, growing power generation, availability of low-cost raw materials, and rising investments in power plants.
Market Segmentation
The global superheater market segmentation covers application and type. MRFR is exploring the features of these segments to understand market trends.
As per the application-based segmentation, this market covers industrial applications, oil & gas, power generation applications, and others.
By type, the market can be segmented into convection superheaters, radiant superheaters, and combined superheaters. During the forecast period, the radiant superheater is expected to dominate the market. The reason behind its dominance is simple science. Once the boiler load reduces by 50%, the heat of fuel gas also reduces. Hence, a conventional superheater captures less heat in such a situation. However, the radiant superheater does have the ability to maintain the heat at almost any load. It can thus, maintain the final superheat temperature. Therefore, end-users have a good reason to install radiant superheaters.
Regional Segmentation
The regional segmentation of the global superheater market covers Asia Pacific, North America, Europe, South America, and the Middle East & Africa (MEA).
During the forecast period, Asia Pacific is expected to lead the superheater market, with China and India being the backbone of this market. Other major country-specific markets in this region are Australia, Indonesia, and Thailand. Remaining countries of Asia Pacific region also contribute revenue to the market. China and India have been estimated to hold nearly 70% of all the proposed thermal power capacity addition during the forecast period, boosting the market growth as superheaters must be installed in power generation plants.
In North America, the market has been estimated to stay strong during the forecast period due to developed infrastructure, more power consumption, presence of key market players in the USA, technological advancement, and increasing power production. The critical country-specific markets after the USA are Canada and Mexico.
In South America, the market can grow during the forecast slowly but steadily as South America is yet to achieve technological advancement over North America. The big-league country-specific markets in this region are Argentina, Brazil, Colombia, and Venezuela. Some contribution to this market also comes from the remaining countries of South America.
Europe is another prominent regional market due to the reasons that are primarily the same as in North America. Maximum market revenue in this region gets generated in Germany, Norway, Russia, and the UK. Other countries of Europe also form a sizable part of the market.
In the MEA region, the market growth is slow due to limited availability of technology and lack of skilled professionals. The key country-specific markets in this region are Angola, Egypt, Qatar, and Saudi Arabia. Remaining countries of the MEA region also add revenue to the market.
Key Players
Major players in the global superheater market include Alfa Laval (Sweden), Chromalox Inc. (USA), KNM Group (Malaysia), Maarky Thermal Systems Inc. (USA), National Boiler Service (USA), Optimus Industries (USA), Sandvik AB (Sweden), Sussman Electric Boilers (USA), Uchino Co. Ltd. (Japan), Unit Birwelco (UK), VPI Acquisition Company LLC (USA), and Watlow (USA).
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/7765
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com