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Power Plant Boiler Market worth $22.8 Billion by 2025

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Power Plant Boiler Market worth $22.8 Billion by 2025

October 09
23:04 2020
Power Plant Boiler Market worth $22.8 Billion by 2025
The global power plant boiler market size is projected to reach USD 22.8 billion by 2025, at a CAGR of 4.8%, from an estimated USD 18.1 billion in 2020.

According to the new market research report Power Plant Boiler Market by Type (Pulverized Coal Towers, CFB, Others), Capacity (published by MarketsandMarkets™, the global Power Plant Boiler Market size is expected to grow from an estimated USD 18.1 billion in 2020 to USD 22.8 billion by 2025, at a CAGR of 4.8%, during the forecast period. Market growth can be attributed to the increasing demand for electricity and the rising consumption of clean fossil fuel for power generation.

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By type, the pulverized coal towers segment is the largest contributor in the Power Plant Boiler Market during the forecast period.

In pulverized coal tower type boilers, coal is pulverized to a fine powder. The pulverized coal is blown into the boiler plant through a series of burner nozzles using combustion air. Most coal-fired power stations and many large industrial water-tube boilers use pulverized coal.  The growth of this segment is driven by advancements in supercritical and ultra-supercritical technologies to upgrade conventional and aging power plant boilers to improve efficiency.

By capacity, the

Power plant boilers less than 400 MW are small-sized boilers in terms of capacity. These types of power plant boilers are used for reliable and stable baseloads on a smaller scale. Increasing investments by companies to increase the efficiency of power are expected to continue to drive the growth of the

Browse in-depth TOC on “Power Plant Boiler Market”

121 – Tables

59 – Figures  

196– Pages

 

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https://www.marketsandmarkets.com/Market-Reports/advanced-utility-boilers-market-117514945.html

By technology, the supercritical segment is expected to be the largest contributor during the forecast period.

The supercritical segment held the largest share of the Power Plant Boiler Market in 2019. The focus on upgrading power infrastructure and the increased implementation of supercritical technology over subcritical are driving the growth of supercritical technology in the Power Plant Boiler Market. Furthermore, the efficiency of a supercritical boiler is higher because it consumes less fuel than a subcritical boiler to generate the same amount of heat energy.

Asia Pacific is expected to be the fastest-growing market during the forecast period.

Asia Pacific is the fastest-growing market during the forecast period. The region has been segmented, by country, into China, Japan, India, and the Rest of Asia Pacific. Rapid industrialization and infrastructural developments taking place in the region offer growth opportunities for the Asia Pacific Power Plant Boiler Market. According to the Asian Development Bank (ADB), energy demand is projected to almost double in the Asia Pacific region by 2030. With the increasing demand for power, substantial investments have been made in developing as well as emerging countries to increase their power generation capabilities. Power generation investments are therefore expected to boost the demand for power plant boilers in the region. Countries such as China and India have an abundance of coal, making it a cost-effective fuel for power plant boilers. Thus, the market for power plant boilers is expected to grow at the highest rate during the forecast period.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Power Plant Boiler Market. These include Babcock & Wilcox (US), Dongfang Electric Corporation (China), Doosan Heavy Industries & Construction (Korea), General Electric (US), and Mitsubishi Hitachi Power Systems (Japan). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.

About MarketsandMarkets™:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Content Source: https://www.marketsandmarkets.com/PressReleases/advanced-utility-boilers.asp

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Contact Person: Mr. Aashish Mehra
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Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/advanced-utility-boilers-market-117514945.html