Global Power Plant Boiler Market is anticipated to reach USD 28.0 billion by 2025. A Power Plant Boiler implies a machine that renders steam by applying heat energy to water. Boilers are used in power stations and industrial installation are usually larger and connected to point-of-use piping. The factors that propel the growth of the market include rapid industrialization across the globe, and growing demand in the emerging countries. On the other hand, high installation cost, high capital investment of power plants, and corrosion of boilers may hamper the growth of the market in the upcoming period. Power Plant Boiler Market is anticipated to grow at a significant CAGR of 3.9% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by process, technology, fuel type, and geography. Power Plant Boiler Market may be explored by process as Fluidized bed combustion, Pulverized fuel combustion, and Others. The “Pulverized fuel combustion (PFC)” segment dominated the Power Plant Boiler Market in 2016 and is anticipated to maintain its dominance by 2025. This process comprises powdered coal, which is used to increase the exposure area of combustion. The powdered form of coal is blown into the furnace by using secondary air. Hot air is distributed in the combustion chamber to permit complete burning of the fuel.
The market may be explored by technology as Ultra-critical, Subcritical, and Supercritical. The “Supercritical boilers” segment dominated the Power Plant Boiler Market in 2016 and is anticipated to maintain its dominance by 2025 due to technological advancement of supercritical boiler and hence the demand and number of installation for these boilers is the highest among others.
Power Plant Boiler Market may be explored by fuel type as Renewables, Petroleum, Nuclear, Natural gas, and Coal. The “Coal” dominated the Power Plant Boiler Market in 2016 and anticipated to maintain its dominance by 2025 due to adoption of efficient technologies, and usage of coal will upsurge the segment growth in the forthcoming period.
Asia-Pacific accounted for the major share of the Power Plant Boiler Market Size in 2016 and will continue to lead in the upcoming period. In India, China, and the other emerging economies, rapid industrialization and shift to cleaner power generation sources such as biomass and biogas will boost the growth of Asia-Pacific region. Asia-Pacific is followed by North America and expected to witness significant growth in the years to come.
Some of the key players that fuel the growth of the Power Plant Boiler Industry comprise Doosan Heavy Industries & Construction., MITSUBISHI HEAVY INDUSTRIES, LTD., Babcock & Wilcox Enterprises, Siemens AG, GENERAL ELECTRIC (GE), Amec Foster Wheeler, Harbin Boiler Engineering Co., Ltd., Thermax Ltd., Ansaldo S.P.A., and Dongfang Electric Corporation (DEC). The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Process Outlook (Revenue, USD Million; 2014 - 2025)
• Pulverized fuel combustion
• Fluidized bed combustion
Technology Outlook (Revenue, USD Million; 2014 - 2025)
Fuel type Outlook (Revenue, USD Million; 2014 - 2025)
• Natural gas
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Middle East & Africa
• Saudi Arabia
Research Support Specialist, USA