Global Power Plant Boiler Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Power Plant Boiler Market Overview:

Power Plant Boiler Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

The Power Plant Boiler Market 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 Power Plant Boiler Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, future strategies, acquisitions & mergers, and market footprint.

The global power plant boiler market report has been segmented on the basis of process type, technology, fuel type, and region.

A closed vessel or container which is used to heat or boil water is called a boiler. This heated water is used for various operations such as generating electricity or running machines that are operated over steam. The heat is supplied via the burning of fossil fuels such as coal or renewable fuels such as biogas, etc.

Increasing deployment of power plants across the globe, owing to increasing global energy demand is a major factor driving the growth of the global power plant boiler market.

Additionally, government subsidiaries to boiler manufacturers that are using renewable energy sources for power generation are another factor propelling the growth of the global market.

Moreover, initiatives by governments and private players to upgrade existing coal-based power plants with renewable energy-based power plants are another factor expected to further fuel the growth of the global market to a certain extent over the forecast period.

High capital investment and high installation cost of power plants are major factors restraining the growth of the global power plant boiler market.

In addition, corrosion of boilers is another factor hampering the growth of the global market to a certain extent. Technological advancements toward the development of efficient power plant boilers can create lucrative opportunities for major manufacturers in the global market over the forecast period.

Asia Pacific market dominates the global power plant boiler market in terms of revenue and is expected to maintain its dominance over the forecast period.

This dominance can be attributed to the high utilization of electricity, coupled with an increasing number of power plants in this region's countries such as China and India.

The Europe power plant boiler market and the North American power plant boiler market are expected to witness considerable growth over the forecast period. The growth in the North American power plant boiler market can be attributed to the increasing deployment of power plants in this region.

Global Power Plant Boiler Market Segmentation:

Segmentation on the basis of process type:

• Pulverized fuel combustion
• Fluidized bed combustion
• Others

 Segmentation on the basis of technology:

• Subcritical
• Supercritical
• Ultra-critical

 Segmentation on the basis of fuel type:

• Coal
• Oil
• Gas
• Others

Segmentation by region:

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