Power Plant Boiler Market to Reach USD 36.19 Billion at a CAGR of 5.4 % |Emergen Research

The global power plant boiler market size was USD 21.43 billion in 2022 and is expected to register a steady revenue CAGR of 5.4% during the forecast period, according to latest analysis by Emergen Research. Rising demand for clean fossil fuels is a key factor driving market revenue growth.

A power plant boiler is a large and complex equipment used for generating steam to drive a turbine and produce electricity. The selection of fuel for generating steam and power has undergone continuous evolution over the years, primarily influenced by factors such as availability, costs, and environmental concerns. Recent advancements, including the promotion of co-firing biomass in power generation, emphasis on renewable sources, and development of waste-to-energy solutions, have significantly impacted both developers and users. Consequently, it is imperative to offer a versatile and all-encompassing solution in the power plant boiler industry to effectively navigate this ongoing energy transition. This solution employs an automated and digitally enabled combustion system and a specialized feeding system to enhance control and optimize the combustion of diverse waste fuels. These boilers can efficiently burn a range of waste fuels, encompassing biomass, agricultural residues, sludge, non-recyclable solid waste, biofuels, and refuse-derived fuel simultaneously. In addition, a Flue Gas Cleaning System (FGCS) is integrated with these boilers, ensuring removal of harmful emissions to meet the most stringent environmental standards.

The latest research report is dubbed as the first document encompassing the latest information about the Power Plant Boiler market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Power Plant Boiler industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic's gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.

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Key Market Competitors Profiled in the Report:

ABB, General Electric, MITSUBISHI HEAVY INDUSTRIES, LTD., Babcock & Wilcox Enterprises, Inc., Siemens, Thermax Limited, Bharat Heavy Electricals Limited (BHEL), ANDRITZ, Dongfang Electric Corporation (DEC), Doosan Corporation., IHI Corporation, ADNOC Group, JOHN WOOD GROUP, Sumitomo Heavy Industries, Ltd., and Valmet

Some Key Highlights from the Report

The Fluidized Bed Combustion (FBC) boiler segment is expected to account for largest revenue share in the global power plant boiler market over the forecast period. This is because inherently lower emissions from FBC boilers often mean that they require fewer and less complex pollution control devices. In addition, this can result in cost savings for power plant operators, which will further rise demand for these boilers.

The gas fired segment is expected to register steadily fast revenue growth rate in the global power plant boiler market over the forecast period. This is due to increasing exploration and production of natural gas on a global scale. Governments in numerous countries are actively endorsing the installation of gas-based boilers for power generation purposes. This aligns with efforts to harness benefits of natural gas as a cleaner and more environment-friendly energy source.

The Asia Pacific market accounted for largest revenue share in the global power plant boiler market in 2022. This is attributed to rapid urbanization and industrialization, increasing population and government initiatives and investments, stringent environmental regulations, and rising need for aging infrastructure replacement, and substantial Foreign Direct Investment (FDI). The APAC countries are currently undergoing significant urbanization and industrial expansion, resulting in a notable upswing in energy demand, which in turn, has created a substantial need for power plant boilers throughout the region. In addition, high level of investment in the power sector in this area has led to increased upgrades and refurbishments of boilers, further driving market revenue growth in this region during the forecast period.

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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Power Plant Boiler market on the basis of product, application, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Pulverized Fuel Boiler

Fluidized Bed Combustion (FBC) Boiler

Tube Content Outlook (Revenue, USD Billion; 2019-2032)

Fire Tube

Water Tube

Fuel Type Outlook (Revenue, USD Billion; 2019-2032)

Solid Fired

Oil Fired

Gas Fired

Others

Operating Pressure Rating Outlook (Revenue, USD Billion; 2019-2032)

Ultra-Supercritical Boiler

Supercritical Boiler

Subcritical Boiler

Ultra-High Pressure Boiler

High Pressure Boiler

Sub-High Pressure Boiler

Medium Pressure Boiler

Draught System Outlook (Revenue, USD Billion; 2019-2032)

Natural Draught

Mechanical Draught

Forced Draught System

Induced Draught System

Balanced Draught System

Regional Analysis of the Power Plant Boiler Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Objectives of the Report:

Analysis and estimation of the Power Plant Boiler market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter's Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Power Plant Boiler market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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View Additional Related Reports:

Power Plant Boiler Market Size @ https://www.emergenresearch.com/industry-report/power-plant-boiler-market/market-size

 Power Plant Boiler Market Share @ https://www.emergenresearch.com/industry-report/power-plant-boiler-market/market-share

 Power Plant Boiler Market Trends @ https://www.emergenresearch.com/industry-report/power-plant-boiler-market/market-trends

 Power Plant Boiler Regional Market Demand @ https://www.emergenresearch.com/industry-report/power-plant-boiler-market/regional-market-demand

 Power Plant Boiler Market Analysis @ https://www.emergenresearch.com/industry-report/power-plant-boiler-market/market-analysis

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