Power Plant Boiler Market is set to garner staggering revenues by 2025
The global power plant boiler market is expected to reach USD
28.0 billion by 2025, according to a new report by Grand View Research, Inc.
Rising demand for electricity is expected to propel the sector growth. The global population is increasing at a robust
pace and likely to reach 2.2 billion by 2050. Moreover, the increase in
population has led to rapid urbanization, especially in the developing
countries. As per the United Nations World Urbanization Prospects, it is
estimated that the urban population, which was 30% of the global population in
1950, is projected to reach 66% by 2050.
The growing urbanization has led to a rise in power consumption. To cope
up with the rising power demand, governments across the world are on the
lookout for various alternatives to boost power generation capacity. For
instance, the government of India is offering power generation subsidiaries to
operators to generate power through biogas. The government offers nearly USD 30
thousand per MW. The subsidy is valid only for the boiler manufacturers and
steam turbine producers. Such initiatives are likely to produce modest demand
for boilers over the forecast period.
Netherlands-based BDR Thermea acquired ECR International in 2016 to
expand the company’s existing product portfolio in the North America market via
the latter’s distribution network. Key vendors analyzedin the report are
Babcock & Wilcox Enterprises; Dongfang Electric Corporation (DEC); Siemens
AG; Mitsubishi Heavy Industries, Ltd.; and General Electric (GE). Mergers and
acquisitions continue to form an integral part of the market growth.
Full
Research Report On Global Power Plant Boiler Market Analysis:
www.grandviewresearch.com/industry-analysis/power-plant-boiler-market
www.grandviewresearch.com/industry-analysis/power-plant-boiler-market
Further
key findings from the report suggest:
- The global demand for
power plant boiler market was USD 19.8 billion in 2016 and likely to reach
USD 28.0 billion by 2025, at a predicted CAGR of 3.9% from 2017 to 2025
- Subcritical technology was
the largest segment in the market, accounting for over 73% of the total
revenue in 2016
- Pulverized fuel combustion
was the largest process segment, in terms of revenue, in 2016. The segment
is likely to be valued at USD 15 billion by 2025, indicating a CAGR of
3.9%.
- In terms of revenue, APAC
is expected to be the largest regional market at a projected CAGR of 4.7%
over the forecast period
- The industry is dominated
by a few multinational corporations such Babcock & Wilcox Enterprises;
Dongfang Electric Corporation (DEC); Siemens AG; Mitsubishi Heavy
Industries Ltd., and General Electric (GE)
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/power-generation-and-storage
www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the global power plant boiler market by
process, technology, fuel type, and region:
Process
Outlook (Revenue, USD Million; 2014 - 2025)
- Pulverized
fuel combustion
- Fluidized
bed combustion
- Others
Technology
Outlook (Revenue, USD Million; 2014 - 2025)
- Subcritical
- Supercritical
- Ultra-critical
Fuel type
Outlook (Revenue, USD Million; 2014 - 2025)
- Petroleum
- Nuclear
- Natural
gas
- Coal
- Renewables
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Asia
Pacific
- China
- Japan
- India
- CSA
- Brazil
- Middle
East & Africa
- Saudi
Arabia
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-power-plant-boiler-market
www.grandviewresearch.com/press-release/global-power-plant-boiler-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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