Menu ×


Power Plant Boiler 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) Global Demand Analysis & Opportunity Outlook 2027

  • Report ID: 897
  • Text Size:

Extensive insights into the Growth of Power Plant Boiler Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

Global Power Plant Boiler Market Overview

A power plant boiler is a closed vessel that generates steam by applying heat to water. A boiler is used in industries that require steam for various operations. The form and size of these boilers to be installed depends on their application. Boilers for use in industrial installation and power stations are usually larger and are connected to point-of-use piping.

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. Growing energy demand along with pervasive investment across the industrial sector is driving the global boiler market. 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. For instance, PT United, Kansai Electric Power and Sumitomo Corporation announced a collaborated investment of over USD 4.4 billion for the upgradation of Tanjung Jati thermal power plant in Indonesia during the year 2017.

Market Size & Forecast

The factors that drive the power plant boiler market includes technological advancement towards development of more efficient boilers and rapid growth of industrialization using renewable source of energy to meet the growing demand. Power generation energy mix in most of the countries is led by coal. The capital requirement for setting up a coal-based power plant is comparatively less in comparison to other fuel-based power plants. Additionally, coal is easily available in most of the countries, and can also be easily transported from one place to other.

Currently the power plant boiler market is observing subsequent growth owing to government-led initiatives and the rising demand for energy. Power plant boiler market is expected to record a CAGR of 4% during the forecast period and to reach a valuation of around USD 30 Billion at the end of the period. CLICK TO DOWNLOAD FREE SAMPLE

Power Plant Boiler market share Graph

Market Segmentation

Our-in depth analysis of the power plant boiler market includes the following segments:

By Application Type:

  • Multi-Tube Boilers
  • Circulating Fluidized Boilers
  • Pulverized Boilers

By Fuel Type:

  • Coal-based
  • Gas-based
  • Oil-based

By Technology:

  • Subcritical
  • Supercritical
  • Ultra-Supercritical

By Region

On the basis of regional analysis, the power plant boiler market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia-Pacific region is the major revenue contributor in the market owing to rapid industrialization in countries such as 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. Countries such as Poland and Turkey plan to add new coal-based capacity as a part of their national power development plans.

Power plant boiler market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers

Increasing Demand And Rapid Industrialization In Developing Countries

Factors such as growing urbanization, rising power demand, demand for 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.


High Cost of Technology

Despite drivers for instance governments’ mandated use of clean coal technologies (CCT) for new coal-fired power plants, cheap coal prices, and supportive policies in a few countries for coal-fired power plants, 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.

Top Players Dominating the Market:

  • Mitsubishi Hitachi Power Systems Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Dongfang Electric Corporation Ltd.
  • IHI Corporation
  • Doosan Heavy Industries & Construction
  • Siemens AG
  • Thermax Ltd.
  • GE Power
  • Babcock & Wilcox Enterprises, Inc.
  • Bharat Heavy Electricals Ltd.
  • Harbin Electric Corporation Co. Ltd.

Related Reports

Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved