Global Power Plant Boiler Market was valued at US$ xx Mn in 2019 and is expected to reach US$ xx Mn by 2026, at a CAGR of 4.1%.
Global Power Plant Boiler Market Introduction

Boilers in power plants are equipment that uses heat to transform water into steam. The steam created in this way is transferred through pipes and utilized in a variety of power-producing units. A wide variety of fuels, such as cold, natural gas, and diesel, are utilized to generate heat.

Authorities in countries like the United States, the Netherlands, and the United Kingdom have been emphasizing alternative and cleaner fuel sources like biogas, biomass, and natural gas, which has aided the growth of the power plant boilers market in developed countries. Multi-tube boilers, circulating fluidized boilers, and pulverized boilers are examples of industrial boilers that vary in terms of form and capacity depending on their use.
Global Power Plant Boiler Market Dynamics

The increase in per capita electricity consumption drives product demand in the United States. The United States' power usage has increased dramatically. The growing reliance on electronic devices like cellphones, smart automation, and other such devices is expected to drive up power demand in the coming years. Over the forecasted period, the increasing power consumption is likely to offer a consistent demand for the product. The type of fuel used for power generation in the US market is changing.

In order to generate electricity, the country is turning to cleaner sources. Investors are becoming more interested in renewable energy sources. As a result, the use of renewable fuels to generate power has increased, as they are cost-effective, efficient, and have economies of scale. Coal facilities are being shut down around the country in order to reduce carbon emissions.

Energy consumption in developed countries continues to rise, thereby increasing the demand in developing countries. The demand for electricity is being pushed up by rising incomes, increasing industrial output, and the services sector. Between 2018 and 2050, the US Energy Information Administration (EIA) predicts a nearly 50% increase in global energy consumption.

The majority of this expansion is concentrated in regions with strong economic growth, particularly in the Asia Pacific. In 2018, Asia Pacific was the world's largest electricity consumer, accounting for nearly half of all global consumption. Southeast Asia's electricity demand has grown at a rate of 6% per year on average, according to the International Energy Agency. As a result, the power plant boiler market is expected to be driven by rising energy demand.

However, increasing concerns about the high cost of implementation and fluctuating raw material costs are among the primary factors acting as barriers, and are expected to pose a significant challenge to the growth of the power plant boiler market throughout the forecast period.
Global Power Plant Boiler Market Segment Analysis

Nuclear fuel consumption is rising, indicating that the world is moving toward more efficient electricity-producing technologies. As of 2016, nuclear power accounted for around 11% of worldwide power output, and this percentage is expected to rise in the future years. The zero-emission associated with nuclear power generating is a major driver of market expansion. Over the projected period, it is predicted that the nuclear fuel segment's share would increase.

The rise of renewable fuel sources signals a paradigm shift in energy generation fuel utilization. Demand for renewable fuels is increasing as the need to reduce carbon emissions becomes more urgent. A substantial number of nations have filed their intended Nationally Determined Contributions (INDCs) to reduce greenhouse gas emissions, and this trend is projected to continue during the forecast period.

Over the forecast period, the subcritical segment is expected to be the dominant technology. By 2025, this technology's market share is expected to rise from 73.9 % to 74%. The reliance on coal for power generation is to blame for the increase. The number of coal-fired power facilities is steadily increasing, particularly in emerging countries. The segment's expansion is expected to be most likely fueled by its easy availability and low input prices over the forecasted timeframe.

Also, the supercritical segment is expected to increase at the fastest rate. The technology is gaining traction, particularly in OECD countries and China. China's power generation capacity has expanded dramatically thanks to supercritical boiler technology. The country has almost 23 supercritical units, each generating about 16MW of electricity. The high efficiency of this technology is the driving force behind the segment's growth.

The ultra-critical technology has roughly 50% efficiency, the highest among the numerous types of technologies available for power generation via boilers. In comparison to other technologies, the cost of production using this technology is considerable. There are around 26 ultra-critical technology operational units in nations such as Japan, Denmark, Germany, the Netherlands, and the United Kingdom.

Global Power Plant Boiler Market

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Global Power Plant Boiler Market Regional Insights

Global Power Plant Boiler Market 1

India and China are expected to have the fastest urban population increase. In terms of population, China and India are the two largest countries. China's population was estimated to be over 1.4 billion people, with 56% living in cities. In India, urban regions account for roughly 33% of the overall population of 1.3 billion people. Over the projection term, all of these factors are likely to drive product demand. Over the forecast period, the market is likely to be fueled by the growing urban population and the increasing strain on the present power capacity.

In India and China, rapid industrialization and a developing transportation sector are expected to increase energy demand. Both countries want to reduce carbon emissions by introducing electric automobiles in their respective countries.

To encourage the sale of electric vehicles in China, the central government provides a special subsidy to manufacturers of electric vehicles and plug-in hybrid cars. Government-led measures to push electric vehicles into the market are likely to put further strain on electricity resources, resulting in a need for extra electricity.

By the mid-2040s, India is predicted to consume more energy than the United States, and by 2050, it would be second to China in terms of consumption. Consumption has risen as a result of the manufacturing sector's expansion and rising urbanization. The demand for coal and gas-fired boilers is expected to be fueled by these factors.
Global Power Plant Boiler Market Report Scope: Inquire before buying

Global Power Plant Boiler Market 2
Global Power Plant Boiler Market, by Region

• North America
• Europe
• South America
• MEA
• Asia Pacific
Global Power Plant Boiler Market Key Players

• Babcock & Wilcox Enterprise
• Dongfang Electric Corporation
• Doosan Heavy Industries & Construction
• General Electric
• Mitsubishi Hitachi Power Systems
• Siemens
• IHI Corporation
• John wood Group
• Bharat Heavy Electrical Limited
• Thermax
• Andritz Group
• Sumitomo Heavy Industries
• Valmet
• Harbin Electric.
• AMEC Foster Wheeler

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