Global Power Boilers Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global power boilers market in its upcoming report titled, “Global Power Boilers Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global power boilers market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global power boilers market report has been segmented on the basis of type, fuel type, application, and region.

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“The Power Boilers Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Power boiler is a device used to generate steam by application of heat energy to water. Steam is generated at pressure of more than 15 psi (100 kPa). Basically, there are three methods such as radiation, convention, and convection that are used for heat transfer in power boilers. Power boilers are classified into two types – fire tube boilers, and water tube boilers.

Growing energy demand across the globe is a key factor driving growth of the global power boilers market. In addition, increasing government investment in upgrading existing power plants and in the construction of new power plants, and stringent regulations for industrial waste management are other factors expected to boost growth of the global power boilers market over the forecast period. Power boilers use clean fuels such as bio gas, natural gas, and biomass as fuel. This factor is also expected to propel growth of the target market over the forecast period.

However, growing adoption of renewable energy sources as an alternative for power boilers is a major factor restraining growth of the global power boilers market. Additionally, high costs associated with installation of power boiler is another factor restraining growth of the target market over the forecast period.

Currently, the market in Asia Pacific accounts for largest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to increasing industrialization activities coupled with growing energy demand in emerging economies such as China, India, etc. The market in North America accounted for second-highest revenue share in the global power boilers market, due to increasing demand for conventional energy sources, and government initiatives towards adoption of energy efficient power system in countries in the region. Also, market in Europe is projected to register moderate growth over the forecast period, owing to growing automotive sector and increasing need for energy in the region.

Global power boilers market segmentation:

By type:

• Fuel tube boiler
• Water tube boiler

By fuel type:

• Oil
• Natural gas
• Coal

By application:

• Residential
• Commercial
• Industrial
• Utility

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa