Power Plant Boiler Market
Power Plant Boiler Market 2022 - By Type (Pulverized Fuel Boiler, Circulation Fluidized Bed Boiler, Others), By Technology (Subcritical, Supercritical, Ultra-Supercritical), By Fuel Type (Coal, Oil, Gas, Other), By Input Capacity & Global Region - 2027Request Sample Request Discount
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The Power Plant Boiler is a type of machine used to generate heat by using water heat energy to generate electricity. The boiler is built into a furnace that combusts fossil fuels and generates heat that is passed into the water to form steam. The efficiency of these boilers has significantly increased over the years, with some systems having fuel-to-steam efficiency up to 90%. The dimensions of these boilers depend on their usefulness and mainly on their steam-based or hot water operations in power plants and industry. The different types of power plant boilers are fluidized boilers, multi-tube boilers, and pulverized boilers, each of which has a specific purpose. Depending on their application, these boilers are used in various industries. In comparison with power stations and industrial plants, mobile steam engines such as portable engines, steam-locomotives make use of the smaller boiler connecting them to piping points of use. It is widely applied in electricity production in the energy industry.
Increasing Demand for Electricity
Power station boilers are used for high-pressure steam production by different combustibles like coal, natural gas, petroleum and biomass, in order to generate electricity. The fastest-growing energy demand source is electricity. According to the IEA, the global demand for electricity in the Stated Policies scenario is projected to increase to 4.1% annually by 2022, twice as high as the primary energy demand. This increases the share of electricity from 20% in 2021 to 28% in 2022 in total energy consumption. Huge amounts of energy continue to be consumed by developed countries, thus increasing demand in developing countries. Increased revenues, increased industrial output, and growing services are boosting demand for electricity.
In addition, in the coming years, increasing dependence on electronic gadgets such as smartphones, smart automation, and others is likely to fuel power demand. Over the forecast period, the increasing power requirement is expected to provide a steady demand for the product.
Rapid Industrialization in Developing Countries
The growth of the market is boosted by factors such as growing urbanization, increasing power demand, demand for coal fuel-based boilers, and the number of power capacity expansion projects. In addition, technological advancements and progress in the process of increasing efficiency and reducing carbon emissions are likely to drive innovation in the market. Despite concerns over high carbon emissions, the use of coal is likely to rise in the coming years. Governments worldwide seek various alternatives through the adoption of efficient coal-based pollution reduction technologies.
The opportunity to use supercritical technology has been given by developing steam conditions. It is anticipated that the transmission/distribution infrastructure & power sector will have the largest investment projects in the industrial world, providing ample opportunities for market growth. During the forecast period, the global size of the power plant boiler market is expected to grow from an estimated USD 18.1 billion in 2022 to USD 23 billion by 2027, at a CAGR of 6.8 percent.
High investment in capital and high installation costs for power plants are major factors that restrict the growth of the boiler market for global power plants. In addition, boiler corrosion is another factor that, to some extent, hampers the growth of the global market. Over the forecast period, technological advances towards the development of efficient power plant boilers will create profitable opportunities for the world's largest manufacturers.
In 2019, Asia-Pacific accounted for the major share of the Boiler Market Size for Power Plants and will continue to lead in the coming period. The rapid industrialization and shift to cleaner power generation sources such as biomass and biogas in India, China and the other emerging economies will boost the Asia-Pacific region’s growth. The Asia-Pacific region is followed by North America and is expected to see significant growth in the coming years.
The market for North America & Europe is expected to grow at a significant rate because the government has focused on alternative and cleaner sources of fuel for boiler power plants.
- Pulverized Fuel Boiler
- Circulation Fluidized Bed Boiler
By Fuel Type
By Input Capacity
- < 10 MMBtu/Hr
- 10-50 MMBtu/Hr
- 50-100 MMBtu/Hr
- 100-250 MMBtu/Hr
- 250 MMBtu/Hr
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East & Africa
The report profiles various major market players such as
- 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.
- Mitsubishi Hitachi Power Systems Ltd.
- Other Major & Niche Players
Competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development, and other market activities). The study also provides the company’s positioning and market share of the overall market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2027: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global power plant boiler market by the following segments:
- Fuel Type
- Input Capacity
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Power Plant Boiler Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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