The global power plant boiler market exhibited moderate growth during 2015-2020.
A power plant boiler is a type of mechanical equipment that produces steam by heating water and utilizes it to generate energy. The boiler is incorporated in a furnace that burns fossil fuels and creates heat which gets transferred to water to form steam. Over the years, the efficiency of these boilers has increased significantly, with some systems having a fuel-to-steam efficiency as high as 90%. The shape and size of these boilers depend upon their utility and they are primarily installed in power stations and industries with steam-based or hot water operations. The different types of power plant boilers include circulating fluidized boilers, multi-tube boilers and pulverized boilers, each having their distinct purpose and application.
The rising energy demand across the globe is a key factor driving the growth of the market. To meet this ever-increasing demand, governments of various nations are heavily investing in the development of existing power plants and the construction of new facilities. Rapid urbanization, coupled with industrialization in the emerging countries, has further fueled the demand for power plant boilers. Additionally, growing concerns for carbon emissions, along with an increasing demand for highly efficient energy solutions, have led to technological advancements in the manufacturing and functioning of boilers. Moreover, increasing reliance on electronic appliances such as air conditioners, microwave ovens, and washing machines has increased the energy requirements in both developing and developed nations, which is projected to boost the product demand further. Looking forward, the analyst expects the global power plant boiler market to grow at a CAGR of around 4% during 2021-2026.
Report Coverage: Historical, Current and Future Market Trends
Market Breakup by Type: Pulverized Fuel Boiler Circulation Fluidized Bed Boiler Others
Market Breakup by Technology: Subcritical Supercritical Ultra-Supercritical
Market Breakup by Region: North America Asia Pacific Europe Middle East and Africa Latin America
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Babcock & Wilcox, AMEC Foster Wheeler, Dongfang Electric, General Electric, Doosan Heavy Industries & Construction, BHEL, Mitsubishi Hitachi Power Systems, Siemens, IHI Corporation, Thermax, etc.
Key Questions Answered in This Report: How has the global power plant boiler market performed so far and how will it perform in the coming years? What are the key regional markets in the global power plant boiler industry? What has been the impact of COVID-19 on the global power plant boiler industry? What is the breakup of the market based on the boiler type? What is the breakup of the market based on the technology type? What is the breakup of the market based on the fuel type? What is the breakup of the market based on the input capacity? What are the various stages in the value chain of the global power plant boiler industry? What are the key driving factors and challenges in the global power plant boiler industry? What is the structure of the global power plant boiler industry and who are the key players? What is the degree of competition in the global power plant boiler industry?
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