Power Plant Boiler Market Forecasts to 2028 – Global Analysis By Type (Pulverized Coal Towers, Circulating Fluidized Bed Boilers and Other Types), Capacity (Below 400 MW, 400-800 MW and Above 800 MW), Technology (Supercritical, Subcritical, Ultra-Supercri

Power Plant Boiler Market Forecasts to 2028 – Global Analysis By Type (Pulverized Coal Towers, Circulating Fluidized Bed Boilers and Other Types), Capacity (Below 400 MW, 400-800 MW and Above 800 MW), Technology (Supercritical, Subcritical, Ultra-Supercritical and Other Technologies), Fuel Type (Coal Based, Gas Based and Other Fuel Based) and By Geography

According tStratistics MRC, the Global Power Plant Boiler Market is accounted for $19.33 billion in 2022 and is expected treach $28.68 billion by 2028 growing at a CAGR of 6.8% during the forecast period. A power boiler is essentially a closed container where water is heated until it becomes steam. Via piping, the steam generated by the power boiler was distributed tvarious applications. The demand for electricity is rising significantly in developing nations as a result of fast industrialisation and urbanisation. The government is making significant investments in new power plants taccommodate this demand, which will fuel the growth of the power boilers sector. Governments in industrialised nations are building power plants using greener energy sources like biomass power and biogas, which is another market-driving driver.

Market Dynamics:

Driver:

Replacement of aging power plants taugment market growth

It is essential tupgrade and replace outdated equipment if one wants such equipment tfunction smoothly and productively. As one of the important pieces of gear in power plants, the boiler requires regular maintenance and replacement in order tperform effectively. More contemporary, more efficient boilers are being installed in older power plants tmeet the growing demand for uninterruptible electricity. As a result, thermal efficiency in power plants is increased. More focus is being placed on replacing outdated boilers globally. This illustrates how rising spending on boiler improvements, replacements, and new construction drives the market for power plant boilers.

Restraint:

High capital requirement tinstall power plant boilers

A complex structure like a power plant necessitates high costs for engineering, procurement, and constructing (EPC) or comprehensive services, among other things. The equipment being used tproduce the electricity has a significant impact on how much it will cost tdevelop a new power station. However, phases after construction, such as maintenance and technology installation, need significant financial outlays. The high cost of power plant maintenance technologies and stringent environmental regulations have an impact on the final building cost. The cost of creating the required amount of steam is frequently referred tas the system cost, which takes intaccount the entire boiler life cycle. A power plant alscombines several boilers & different fuels, which enhances the cost. This cost is anticipated tremain the same due thigh levels of technical expertise needed trun industrial boilers, which will restrain the market position for power plant boilers.

Opportunity:

Upgrading aging power plant boiler infrastructure

Power services have a need for boilers as an essential piece of equipment. For many power companies, the improvement and substitution of non-operational machines presents interesting chances. The thermal competence of power plants is improved by the getting higher demand for trustworthy power delivery and the alternative of outdated, unproductive boilers with new modern, innovative boilers. For coal-and-gas-fuelled power plants, countless businesses are concentrating on providing modern boiler improvements, which can raise their capacity tburn various fuels and conceivably diminish the contact of CO2 emissions. During the anticipated time frame, such noteworthy funds in new construction in addition tthe transformation of weakening infrastructure present a worthwhile impending for the power plant boiler market.

Threat:

Boiler efficiency and steam quality

Boiler efficiency measures how much combustion energy is converted intsteam energy, whereas steam quality measures how much freshwater is compressed in the steam. Poor steam quality causes a variety of problems, such as frequent boiler shutdowns because of low water levels, destroyed steam pipes and valves from water hammer, vibration, corrosion, and erosion, decreased steam heater capacity, or overloaded steam traps. In addition, water droplets in having tmove steam may be just as harsh on surfaces as sand particles. Both valve seats and pipe fittings may be harmed. Such issues lead tequipment breakdown, and the downtime may cause the operator tincur large costs. Heating systems that are inefficient utilise more fuel and release more harmful gases, which boost the cost of producing energy. Burning fuels like coal results in an excessive build-up of ash on a boiler's surfaces that transfer heat, which reduces the boiler's efficiency and could eventually lead tits shutdown. The need tboost efficiency and steam quality tmeet market demand is one of the biggest challenges power plant boiler manufacturers face.

Covid-19 Impact

The COVID-19 pandemic has impacted more than 150 countries. This epidemic has affected a number of businesses, including oil and gas, aviation, building, manufacturing, railroads, and the hospitality sector. During the epidemic, some governments imposed extensive lockdowns and restrictions, which had a detrimental effect on their economies on a global scale. Despite this optimistic outlook, the pandemic has had a substantial impact on the steam and boiler industry, particularly on maintenance. Several steam and boiler repair companies are unable tprovide services like straightforward inspections and maintenance as regularly because tthe stringent laws on social isolation and lockdowns those are in place across the world. Thus, the power sector experienced a reduction in investment in addition ta labour shortage.

The supercritical segment is expected tbe the largest during the forecast period

The supercritical segment is estimated thave a lucrative growth. In many nations, the industrial and utility sectors place a strong emphasis on upgrading the nation's power infrastructure. Supercritical technology is being heavily installed in power plant boilers as part of the upgrade work because of its many advantages, including improved efficiency and the fact that such boilers use less fuel and emit less greenhouse gases.

The coal segment is expected thave the highest CAGR during the forecast period

The coal segment is anticipated twitness the fastest CAGR growth during the forecast period, due tthe cheap accessibility of coal in the area, there are more coal power plants than other fuels in use worldwide. Supercritical, subcritical, and other technology boilers are widely used in coal-fired power stations because coal is inexpensive and readily available.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe demand for power in the area rises as urbanisation and industrialization spread quickly. Both the population and the use of electronic devices are growing in this region, particularly in nations like Thailand, Indonesia, Australia, South Korea, Japan, India, and China. Throughout Asia Pacific, there is a significant level of investment in the power sector, and boiler upgrades and renovations are alsput intpractise.

Region with highest CAGR:

Europe is projected thave the highest CAGR over the forecast period, owing tthe ongoing growth of its energy generation capacity as a result of the increased need for reliable power supply. The market for making boilers is strengthened by technological improvements as well as rising R&D efforts. Hence, there will be more gas-fired power plants installed in this area.

Key players in the market

Some of the key players profiled in the Power Plant Boiler Market include SumitomHeavy Industries, Dongfang Electric Corporation, Mitsubishi Hitachi Power Systems, IHI Corporation, Babcock & Wilcox Enterprise, Siemens, Doosan Heavy Industries & Construction, General Electric, Harbin Electric., John wood Group, Bharat Heavy Electrical Limited, Thermax, AMEC Foster Wheeler, Andritz Group, Valmet, JFE Engineering Corporation, Rentech Boiler, Sofinter Group and Zhengzhou Boiler Co., Ltd.

Key Developments:

In February 2021, the B&W announced that its B&W thermal segment has won a contract worth USD 15 million for design and supply for twpackage boilers and its related equipment for a desalination plant. This boiler will be gas-fired boilers and produce steam for a municipal facility that will serve residents and businesses.

In September 2019, Doosan Heavy Industries & Construction Co. has announced twin an order tsupply boilers and turbines for a thermal power plant in Indonesia. Under the contract, the company will supply circulating fluidized bed boilers and turbines for the Palu 3 thermal power plant. The contract is worth USD 100.6 million.

Types Covered:
• Pulverized Coal Towers
• Circulating Fluidized Bed Boilers
• Multi-Tube Boilers
• Other Types

Capacities Covered:
• Below 400 MW
• 400-800 MW
• Above 800 MW

Technologies Covered:
• Supercritical
• Subcritical
• Ultra-Supercritical
• Other Technologies

Fuel Types Covered:
• Coal Based
• Gas Based
• Oil Based
• Nuclear Based
• Other Fuel Types

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


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