According to a recently published report by Research Nester on “Power Plant Boiler Market: Global Demand Analysis & Opportunity Outlook 2019-2027” delivers detailed overview of the global power plant boiler market in terms of market segmentation by application type (multi-tube boilers, circulating fluidized boilers, pulverized boilers); by fuel type (coal-based, gas-based, oil-based); by technology (subcritical, supercritical and ultra-supercritical) and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The power plant boiler market is segmented by application type (multi-tube boilers, circulating fluidized boilers, pulverized boilers); by fuel type (coal-based, gas-based, oil-based); by technology (subcritical, supercritical and ultra-supercritical) and by regions.
The rapid urbanization and industrialization in emerging nations has increased the demand for power considerably. To cater to this increasing demand, government institutions are investing heavily in new power plants and revamping existing ones. In developed countries such as the U.S., the Netherlands, and the U.K., authorities have been focusing on alternate and cleaner fuel sources such as biogas, biomass, and natural gas, thus boosting the expansion of the power plant boilers market. Developing steam conditions has provided the opportunity to use supercritical technology. The transmission/distribution infrastructure & power industry is anticipated to have the largest investments projects in the industrial world which provides ample opportunity for market growth. Emerging economies across Africa and Asia-Pacific have introduced several progressive programs toward the installation and upgradation of the existing boilers which is having a positive impact on the industry growth.
Power plant boiler market is anticipated to mask a CAGR of 4% during the forecast period i.e. 2019-2027. Asia-Pacific region is the major revenue contributor to the market owing to rapid industrialization in countries like China and India which increases the demand for power boiler. China was identified as the leading country for power boilers market in terms of both shipment capacity and market value in the region, followed by India, Vietnam, Korea, and Indonesia. However, China is now starting to reduce its dependence on thermal power plants and is investing more in alternative sources of energy. North America & Europe market is expected to grow at a significant rate because government has been focusing on alternate and cleaner fuel sources for power plant boilers.
Increasing Demand And Rapid Industrialization In Developing Countries
Factors such as growing urbanization, rising power demand, coal fuel-based boilers, number of power capacity expansion projects are boosting the market growth. Furthermore, technological advancements and advancements in the process to increase efficiency and reduce carbon emissions are likely to drive the market towards innovation. The use of coal is likely to increase in the coming years despite concerns over high carbon emissions. The governments across the world are looking for various alternatives to limit pollution caused due to coal by adopting efficient technologies. However, challenges owing to increased focus on renewable energy sources and natural gas to move away from coal for cleaner energy, fluctuating raw material prices, environmental regulations, land acquisition problems, non-availability of domestic coal in some countries, and energy supply security issues are expected to hinder the growth potential of power boilers in the global market.
This report also provides the existing competitive scenario of some of the key players of the global automotive gesture recognition systems market which includes company profiling of Mitsubishi Hitachi Power Systems Ltd., Dongfang Electric Corporation Ltd., IHI Corporation, Doosan Heavy Industries & Construction, Siemens AG, Thermax Ltd., GE Power, Babcock & Wilcox Enterprises, Inc., Bharat Heavy Electricals Ltd., and Harbin Electric Corporation Co. Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global power plant boiler market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.