29th August 2019 – Global Power
Plant Boiler Market is anticipated to reach USD 28.0 billion by 2025. A
Power Plant Boiler implies a machine that renders steam by applying heat energy
to water. Boilers are used in power stations and industrial installation are
usually larger and connected to point-of-use piping. The factors that propel
the growth of the market include rapid industrialization across the globe, and
growing demand in the emerging countries. On the other hand, high installation
cost, high capital investment of power plants, and corrosion of boilers may
hamper the growth of the market in the upcoming period. Power Plant Boiler
Market is anticipated to grow at a significant CAGR of 3.9% in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
The market may be explored by process,
technology, fuel type, and geography. Power Plant Boiler Market may be explored
by process as Fluidized bed combustion, Pulverized fuel combustion, and Others.
The “Pulverized fuel combustion (PFC)” segment dominated the Power Plant Boiler
Market in 2016 and is anticipated to maintain its dominance by 2025. This
process comprises powdered coal, which is used to increase the exposure area of
combustion. The powdered form of coal is blown into the furnace by using
secondary air. Hot air is distributed in the combustion chamber to permit
complete burning of the fuel.
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The market may be explored by technology
as Ultra-critical, Subcritical, and Supercritical. The “Supercritical boilers”
segment dominated the Power Plant Boiler Market in 2016 and is anticipated to
maintain its dominance by 2025 due to technological advancement of
supercritical boiler and hence the demand and number of installation for these
boilers is the highest among others.
Power Plant Boiler Market may be
explored by fuel type as Renewables, Petroleum, Nuclear, Natural gas, and Coal.
The “Coal” dominated the Power Plant Boiler Market in 2016 and anticipated to
maintain its dominance by 2025 due to adoption of efficient technologies, and
usage of coal will upsurge the segment growth in the forthcoming period.
Asia-Pacific accounted for the major
share of the Power Plant Boiler Market Size in 2016 and will continue to lead
in the upcoming period. In India, China, and the other emerging economies,
rapid industrialization and shift to cleaner power generation sources such as
biomass and biogas will boost the growth of Asia-Pacific region. Asia-Pacific
is followed by North America and expected to witness significant growth in the
years to come.
Some of the key players that fuel the
growth of the Power Plant Boiler Industry comprise Doosan Heavy Industries
& Construction., MITSUBISHI HEAVY INDUSTRIES, LTD., Babcock & Wilcox
Enterprises, Siemens AG, GENERAL ELECTRIC (GE), Amec Foster Wheeler, Harbin
Boiler Engineering Co., Ltd., Thermax Ltd., Ansaldo S.P.A., and Dongfang
Electric Corporation (DEC). The leading companies are taking up partnerships,
mergers and acquisitions, and joint ventures in order to boost the inorganic
growth of the industry.
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