Power Boiler Market 2019 Top Players: Siemens AG, Hangzhou Boiler Group, Mitsubishi Hitachi Power System, Babcock & Wilcox, AMEC Foster Wheeler, Harbin Electric, Thermax Ltd, and Alstom.
Power Boiler is a closed vessel, meant for heating water to the extent where it gets converted into steam. Market Research Future (MRFR) has published a research report about the global power boiler market that evaluates surge for this market at 4% CAGR between 2016 and 2022.
Power boilers are closed vessels where water is converted to steam through heating. This steam produced is in excessive demand across different industrial processes. The global economy is expected to strengthen in the upcoming years, thus, creating more room for industrial development.
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Monitoring the market structure, this report menstruates the future growth potential of the market. It chalks the strategies of the key players in the market and aids the competitive developments like new product developments, mergers & acquisitions, joint ventures, and research & developments (R&D) in the market.
The major players profiled in this MRFR report are Siemens AG, Hangzhou Boiler Group, Mitsubishi Hitachi Power System, Babcock & Wilcox, AMEC Foster Wheeler, Harbin Electric, Thermax Ltd, and Alstom.
Power Boiler Market Segmentation
The global power boiler market segmentation covers type, fuel type, and technology. MRFR made this segmentation to get a closer look at market trends.
By type, this market has been segmented into circulation fluidized bed, pulverized fuel, and others.
Regarding fuel type, the market has been segmented into coal, gas, and oil.
Based on technology, the market has been segmented into subcritical technology, supercritical technology, and ultra-supercritical technology.
The regional segmentation of the global Power boiler market covers Asia Pacific (APAC), Europe, North America, South America, and the Middle East & Africa (MEA).
The Asia Pacific region is a major contributor to the global market due to rapid industrialization in countries like China and India. The demand for power boilers is increasing in these two countries. Another important technologically advanced country-specific market in this region is Japan. Other countries of the Asia Pacific region also contribute significantly to market revenue.
In South America, the market is limited because technological advancement in this region is slower than that in North America. Argentina and Brazil are two major country-specific markets in this region. Other countries of South America are also expected to support market growth during the forecast period.
During the forecast period, the market in North America and Europe is expected to grow decently as both regions are developed, industrialized, technologically advanced regions. Developed countries in these regions are not only upgrading their existing power plants but also setting up new cleaner (environment-friendly) fuel burning power plants to get more efficiency. In North America, most advanced country-specific markets are the USA, Canada, and Mexico. In Europe, such markets are France, Germany, Italy, Spain, and the United Kingdom (UK). Other countries in Europe make a significant contribution to the market. Most of the major market players are based in Europe.
In the MEA region, the market growth is slow due to limited availability of technology, lack of infrastructure, and lack of skilled professionals. The Middle East region has more development than the African region, and thus, stands the chance of being the bigger sub-segment in this regional market segment. The top country-specific markets in this region are Saudi Arabia, UAE, Qatar, and South Africa. A significant revenue to this market is also being contributed by the remaining countries of the MEA region.
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