The Marine Oil Fired Boiler Market size is expected to grow at a CAGR of 3.1% during the forecast period, which is in line with its historical growth rate. This market size was valued at USD 1,022 million in 2018 and it is projected to reach USD 1,267 million by 2028. The market has been primarily driven by factors such as increasing demand for maritime transport and oil-fired boilers being an affordable option for ship owners when compared to diesel engines due to lower fuel costs.
Marine Oil Fired Boiler is a type of boiler that uses fuel oil to generate heat energy for the production and use of steam. The marine oil-fired boilers are generally used in ships, locomotives, or stationary power plants on land. They usually have low-pressure boilers with a water-tube system. Oil fired boiler is widely used for marine civil vessels as well as military ships because of its advantages such as environmental protection, high efficiency, low operation costs.
On the basis of Type, the market is segmented ented into Low-Pressure Boilers and High-Pressure Boilers. Among these, the market of low-pressure boiler dominates the total market revenue in terms of value during the forecast period.
A low-pressure boiler is a type of boiler where the pressure inside does not exceed 15 pounds per square inch (0.03 MPa) at operating temperature. Low-pressure boilers are typically used for residential heating systems and commercial water heaters, though they have been replaced in recent years by medium- or high-temperature boilers because their efficiency or capacity was limited when compared to higher performance models.
Low-Pressure Boilers can be categorized into two subtypes: "troughed" and "smoothbore". The former term refers to those boilers that use a tube bundle with individual tubes running parallel from front to back while the latter refers to those boilers that use a tube bundle with individual tubes running in an arc from one side of the boiler to the other. Low-pressure boilers are mainly used for civilian purposes and the pressure on this type of boiler is less than high-pressure boilers. Low-Pressure Boilers which include one-pass tubular, two-pass tubular, etc.,
A high-pressure boiler is a type of boiler where the pressure inside exceeds 15 pounds per square inch (0.03 MPa) at operating temperature or when steam production has been cut off by closing the throttle valve on top of it. High-pressure boilers can operate more efficiently than low-pressure models because they reduce heat losses while transferring heat into the water for generating steam. High-Pressure Boilers include HMT, DxT, etc.
On the basis of Application, the market is segmented into For Civilian and For Military. The civilian application includes the following: Aerospace, Marine and Offshore Industries, Electrical Power Generation (Cogeneration), etc.
Military Application can be classified as follows-For Navy Ships (Destroyers, Aircraft Carriers) For Army Vehicles (Armored Fighting Vehicle), For Airforce Planes & Helicopters(Transport Aircrafts).
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In the United States of America (USA), a high percentage of homes have boilers installed for heating purposes which are fueled by oil. There has been an increase in this type of boiler installation among commercial establishments as well because these devices offer greater efficiency than gas-fired heaters do.
Brazil has more number installations in Marine Oil Fired Boiler Market followed by France and Russia respectively. India holds the second position with respect to Naval Vessels while it's third when it comes to Army Vehicles both globally and locally too whereas China dominates the Airforce Aircraft's manufacturing industry worldwide.
The global marine oil-fired boiler market is estimated to grow significantly by 2028. The growth of this market is attributed to the increased demand for clean and efficient fuels from end-users, which has led them to switch over to more eco-friendly sources such as LNG or hybridization. However, these technologies are expensive in comparison with other conventional fuel options, thereby restricting their users globally. Moreover, high prices of natural gas owing to its low availability have also been a major factor restraining the growth of the marine oil-fired boiler markets across various regions.
Up Market Research published a new report titled “Marine Oil fired Boiler Market research report which is segmented by Types (Low Pressure Boilers, High Pressure Boilers), By Applications (For Civilian, For Military), By Players/Companies Alfa Laval, SAACKE GmbH, Johnston Boiler, Mitsubishi Heavy Industries, Miura America, Supreme Boilers, Osaka Boiler Mfg, Volcano, Qingdao Kainon Boiler, Kawasaki Heavy Industries, Suzhou Hailu Heavy Industry, Hurst Boiler & Welding”.
Report Attributes | Report Details |
Report Title | Marine Oil fired Boiler Market Research Report |
By Type | Low Pressure Boilers, High Pressure Boilers |
By Application | For Civilian, For Military |
By Companies | Alfa Laval, SAACKE GmbH, Johnston Boiler, Mitsubishi Heavy Industries, Miura America, Supreme Boilers, Osaka Boiler Mfg, Volcano, Qingdao Kainon Boiler, Kawasaki Heavy Industries, Suzhou Hailu Heavy Industry, Hurst Boiler & Welding |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 227 |
Number of Tables & Figures | 159 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Low Pressure Boilers, High Pressure Boilers and By Application For Civilian, For Military.
Some of the companies that are profiled in this report are:
Marine Oil fired Boiler Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Marine Oil fired Boiler Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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