Steam Boiler Market for Thermal Power Plant and Oil Refinery - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The steam boiler market for thermal power plant and oil refinery is expected to record a CAGR of over 1.5%, during the forecast period. The growth is expected to increase due to an increase in the number of thermal power plants and refineries across the world. The primary factors that are expected to drive the market are the upcoming thermal power plants and refineries across the world. An increase in thermal power plants and refineries is obvious to increase the steam boiler market during the forecast period. However, increasing focus on renewable sources for electricity generation is expected to decrease the count of coal-powered thermal plants, which is expected to hinder the market growth during the forecast period.
Key HighlightsThe steam boiler market for thermal power plant and oil refinery is moderately fragmented. The key players in the market include Alfa Laval AB, Victory Energy Operations LLC, Babcock Wanson Ltd, Forbes Marshall Pvt. Ltd, Viessmann Manufacturing Company Inc., Fulton Boiler Works Inc., Mitsubishi Hitachi Power Systems Ltd, General Electric Company, Clayton Industries, and ThyssenKrupp Industries India Pvt. Ltd.
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