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Power Plant Boiler Market: Market Segments: By Type (Pulverized fuel combustion, Fluidized bed combustion and Others); By Technology (Subcritical, Supercritical and Ultra-critical); By Fuel type (Petroleum, Nuclear, Natural gas, Coal and Renewables); By Capacity (<400 MW, 400-800 MW and =800 MW); and Region - Global Analysis by Market Size, Share & Trends for 2014 - 2020 and Forecasts t- 2030
Product Overview
Power Plant Boiler is a type of machine used t- produce heat through the generation of electricity using water heat energy. The boiler is built int- a furnace that combusts fossil fuels and creates heat t- form steam that is passed int- the water. Over the years, the efficiency of these boilers has improved dramatically, with some systems having up t- 90 percent fuel-to-steam efficiency.
Market Highlights
Power Plant Boiler Market is expected t- project a notable CAGR of 4.5% in 2030.
Power Plant Boiler Market t- surpass USD 24.3 Billion by 2030 from USD 19.5 Billion in terms of value growing at a CAGR of 4.5% throughout the forecast period, i.e., 2020-30. Due t- the rapidly growing demand for industrialization and urbanization around the world, the Power Plant Boiler Market is experiencing major growth.
Power Plant Boiler Market: Segments
Fluidized bed combustion segment t- grow with the highest CAGR of 13.2% during 2020-30
Power Plant Boiler Market is segmented by Type as Pulverized fuel combustion, Fluidized bed combustion and Others. The pulverized fuel combustion segment is estimated t- lead the market with a share of over 54.2% in 2019 which as this is universally adopted for large-scale power plants. The method of pulverized fuel combustion requires powdered coal, which is used t- increase the area of combustion exposure.
Power Plant Boiler Market: Market Dynamics
Drivers
Rapid Industrialization in Developing Countries
Market growth is boosted by factors such as rising urbanization, increasing demand for electricity, demand for boilers based on coal fuel, and the number of projects t- increase power capacity. Moreover, technical developments and advancements in the process of rising efficiency and reducing carbon emissions are likely t- drive industry innovation.
Restrain
High capital requirement t- install power plant boilers
High capital expenditure and high installation costs for power plants are major factors that limit the growth of the global power plant boiler market. Moreover, post-construction stages, such as repair and technology installation, often entail significant capital investment. In addition, the final construction cost is influenced by strict environmental legislation and the high cost of technology used in supporting power plants.
Power Plant Boiler Market: Key Players
Dongfang Electric Corporation Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
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
Power Plant Boiler Market: Regions
Power Plant Boiler Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, APAC and MENA.
Power Plant Boiler Market in APAC led the market with a lion share of more than 50% in 2019 and is projected t- maintain its lead over the forecast period. As power consumption in the area increases at an exponential rate, APAC is experiencing a huge demand for the product and is witnessing growth potential. The region's rapid urbanization is a crucial growth factor. The fastest growth in the urban population is expected t- occur in India and China. It is expected that rapid industrialization and the rising transportation sector in India and China would increase energy demand. In order t- minimize carbon emissions, both nations plan t- implement electric vehicles in their respective countries. Unique subsidies are provided by the central government in China t- manufacturers of electric vehicles and plug-in hybrid cars t- encourage the selling of electric vehicles in the region. Factors such as government-led initiatives t- sell electric vehicles are likely t- further strain power resources, resulting in the need for excess power.
Power Plant Boiler Market report als- contains analysis on:
Power Plant Boiler Market Segments:
By Type:
Pulverized Coal Towers
Circulating Fluidized Bed Boilers
Other
By Technology:
Subcritical
Supercritical
Ultra-critical
By Fuel type:
Petroleum
Nuclear
Natural gas
Coal
Renewables
By Capacity:
<400 MW
400-800 MW
=800 MW
Power Plant Boiler Market Dynamics
Power Plant Boiler Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Power Plant Boiler Market
Which segment is anticipated t- hold the largest market share?
At what CAGR is the market anticipated t- grow between 2020 and 2030?
Wh- are the key players in the Power Plant Boiler Market?
What could be the challenging factors in the growth of Power Plant Boiler Market?
What are the growth drivers for the Power Plant Boiler Market?