Power Plant Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Power Plant Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global power plant boiler market size reached US$ 19.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global power plant boiler market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, technology, fuel type and input capacity.

Breakup by Type:

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Pulverized Fuel Boiler
Circulation Fluidized Bed Boiler
Others

Breakup by Technology:

Subcritical
Supercritical
Ultra-Supercritical

Breakup by Fuel Type:

Coal
Oil
Gas
Others

Breakup by Input Capacity:

< 10 MMBtu/Hr
10-50 MMBtu/Hr
50-100 MMBtu/Hr
100-250 MMBtu/Hr
> 250 MMBtu/Hr

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

1. How big is the global power plant boiler market?
2. What is the expected growth rate of the global power plant boiler market during 2023-2028?
3. What are the key factors driving the global power plant boiler market?
4. What has been the impact of COVID-19 on the global power plant boiler market?
5. What is the breakup of the global power plant boiler market based on the type?
6. What is the breakup of the global power plant boiler market based on the technology?
7. What is the breakup of the global power plant boiler market based on fuel type?
8. What are the key regions in the global power plant boiler market?
9. Who are the key players/companies in the global power plant boiler market?