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COVID-19's global impact has been unprecedented and startling, with a negative demand shock being felt by the electricity industry in all regions during the pandemic. Our research shows that worldwide sales fell by -6.4% in 2021. Once the pandemic is gone, this market's demand and growth will return to pre-pandemic levels, explaining the unexpected increase in CAGR.
A power boiler is a closed container in which water is heated to the point where it turns into steam. The steam generated by the power boiler is piped to various destinations. Rapid industrialization and urbanisation drive up electricity demand, especially in developing nations. The government's heavy investment in new power plants in response to this demand is what's propelling the Power Boilers Industry. Government initiatives to build power plants in developed nations that run on cleaner energy sources like biomass power and biogas are also propelling the industry forward.
A boiler is a system for producing steam or heat in a closed vessel, typically for use in manufacturing. Coal, fossil fuels, biomass, electricity, and other fuels can all be utilised to generate heat and steam in this device. Industries as diverse as the food and beverage industries, the petrochemical industry, the electricity sector, the oil and gas industry, and breweries all rely on boilers to produce the heat and steam necessary to run their operations. Everything from mass-scale agricultural processing to power generation for homes relies on this system. This closed vessel produces a great deal of steam for heating purposes, which in turn helps to power the machinery used in the factory. The development of increasingly complex boiler systems that may be tailored to specific needs has been facilitated by technological progress. Customers can find a boiler solution that works for them among several types, including electric boilers, gas and oil-based fire steam boilers, fire-tube boilers, and others.
The rising need for low emission industrial boilers has been a major factor in the expansion of the market for boilers used in power plants. The expansion of the power plant boiler market is being driven by the increasing demand for electricity among customers worldwide. A significant challenge facing the worldwide power plant boiler market is the high initial investment needed to build a power plant boiler. This report examines opportunities in the power plant boiler market by looking at factors such as revenue pockets that are just starting to open up, shifts in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations. Contact us for an Analyst Brief and our team will assist you in developing a revenue impact solution to better grasp the study and market environment.
To generate electricity, boilers in power plants burn fuels including coal, natural gas, petroleum, and biomass/wastes to create high-pressure steam. In terms of energy use, electricity is where the needle is really moving. Electricity demand is expected to increase at a pace of 2.1% per year through 2040, according to the International Energy Agency (IEA) under the Stated Policies Scenario. This is twice the rate of growth seen in primary energy demand. As a result, by 2040, electricity will account for 24 percent of all final energy use, up from 19 percent in 2018. The demand in developing countries is rising since developed countries are still using a lot of energy. The need for energy is driven by rising incomes, increasing industrial output, and a flourishing service sector. Between 2018 and 2050, the US Energy Information Administration (EIA) predicts a near 50% increase in global energy use. The majority of this expansion is concentrated in Asia and the Pacific, where robust economic growth is the primary driver of demand. In 2018, about half of all electricity used worldwide was consumed in Asia and the Pacific. The IEA reports that the rate of growth in electricity demand in Southeast Asia is among the world's highest, at 6% annually.
Engineering, procurement, construction (EPC) or turnkey services, technology, and other areas can add up to significant sums of money when building a power plant. The amount of money needed to build a new power plant is heavily influenced by the technology used to produce electricity. Post-construction activities like maintenance and technology installation also call for substantial financial outlay. Furthermore, the ultimate building cost is affected by tight environmental requirements and the high cost of technology employed in supporting power plants. Due to different design characteristics and degrees of after-sales service, the price of boilers for power plants might range widely. The required efficiency, operating pressure, operating temperature, and firing type are all examples of these variables. The price of the boiler rises because of the necessity of high pressure and high temperature. Boiler installations in power plants are similarly expensive. The cost of a boiler can also be affected by whether it is fired with coal or gas. Steam generation costs, or boiler life cycle costs, refer to the total amount spent on a boiler over its useful lifetime. The cost of fuel makes up 96% of the entire life-cycle cost for a full-load steam system with a utilisation rate of 86-94%, while investments and operating and maintenance costs typically make up 3% and 1%, respectively. In addition, a power plant's high price tag is due in part to the several boilers and various fuels it requires. The high level of technical competence required to operate industrial boilers is projected to keep prices high, limiting the current market for boilers used in power plants.
Report Coverage
Global Power Plant Boiler research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Plant Boiler report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Plant Boiler competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Plant Boiler market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Plant Boiler market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Plant Boiler market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mitsubishi Hitachi Power Systems, Ltd., Harbin Electric Corporation, Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation Limited, Alstom SA, Bharat Heavy Electricals Limited, General Electric, Doosan Corp., Siemens AG, Kawasaki Heavy Industries, Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power Plant Boiler market based on the below-mentioned segments:
Global Power Plant Boiler Market, By Type
Pulverized Boilers
Circulating Fluidized Boilers
Others
Global Power Plant Boiler market, By Fuel Type
Coal
Gas
Oil
Global Power Plant Boiler Market, By Technology
Supercritical
Subcritical
Ultra-supercritical
Global Power Plant Boiler market, Regional Analysis
A power boiler is a closed container in which water is heated to the point where it turns into steam. The steam generated by the power boiler is piped to various destinations. Rapid industrialization and urbanisation drive up electricity demand, especially in developing nations. The government's heavy investment in new power plants in response to this demand is what's propelling the Power Boilers Industry. Government initiatives to build power plants in developed nations that run on cleaner energy sources like biomass power and biogas are also propelling the industry forward.
A boiler is a system for producing steam or heat in a closed vessel, typically for use in manufacturing. Coal, fossil fuels, biomass, electricity, and other fuels can all be utilised to generate heat and steam in this device. Industries as diverse as the food and beverage industries, the petrochemical industry, the electricity sector, the oil and gas industry, and breweries all rely on boilers to produce the heat and steam necessary to run their operations. Everything from mass-scale agricultural processing to power generation for homes relies on this system. This closed vessel produces a great deal of steam for heating purposes, which in turn helps to power the machinery used in the factory. The development of increasingly complex boiler systems that may be tailored to specific needs has been facilitated by technological progress. Customers can find a boiler solution that works for them among several types, including electric boilers, gas and oil-based fire steam boilers, fire-tube boilers, and others.
The rising need for low emission industrial boilers has been a major factor in the expansion of the market for boilers used in power plants. The expansion of the power plant boiler market is being driven by the increasing demand for electricity among customers worldwide. A significant challenge facing the worldwide power plant boiler market is the high initial investment needed to build a power plant boiler. This report examines opportunities in the power plant boiler market by looking at factors such as revenue pockets that are just starting to open up, shifts in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations. Contact us for an Analyst Brief and our team will assist you in developing a revenue impact solution to better grasp the study and market environment.
To generate electricity, boilers in power plants burn fuels including coal, natural gas, petroleum, and biomass/wastes to create high-pressure steam. In terms of energy use, electricity is where the needle is really moving. Electricity demand is expected to increase at a pace of 2.1% per year through 2040, according to the International Energy Agency (IEA) under the Stated Policies Scenario. This is twice the rate of growth seen in primary energy demand. As a result, by 2040, electricity will account for 24 percent of all final energy use, up from 19 percent in 2018. The demand in developing countries is rising since developed countries are still using a lot of energy. The need for energy is driven by rising incomes, increasing industrial output, and a flourishing service sector. Between 2018 and 2050, the US Energy Information Administration (EIA) predicts a near 50% increase in global energy use. The majority of this expansion is concentrated in Asia and the Pacific, where robust economic growth is the primary driver of demand. In 2018, about half of all electricity used worldwide was consumed in Asia and the Pacific. The IEA reports that the rate of growth in electricity demand in Southeast Asia is among the world's highest, at 6% annually.
Engineering, procurement, construction (EPC) or turnkey services, technology, and other areas can add up to significant sums of money when building a power plant. The amount of money needed to build a new power plant is heavily influenced by the technology used to produce electricity. Post-construction activities like maintenance and technology installation also call for substantial financial outlay. Furthermore, the ultimate building cost is affected by tight environmental requirements and the high cost of technology employed in supporting power plants. Due to different design characteristics and degrees of after-sales service, the price of boilers for power plants might range widely. The required efficiency, operating pressure, operating temperature, and firing type are all examples of these variables. The price of the boiler rises because of the necessity of high pressure and high temperature. Boiler installations in power plants are similarly expensive. The cost of a boiler can also be affected by whether it is fired with coal or gas. Steam generation costs, or boiler life cycle costs, refer to the total amount spent on a boiler over its useful lifetime. The cost of fuel makes up 96% of the entire life-cycle cost for a full-load steam system with a utilisation rate of 86-94%, while investments and operating and maintenance costs typically make up 3% and 1%, respectively. In addition, a power plant's high price tag is due in part to the several boilers and various fuels it requires. The high level of technical competence required to operate industrial boilers is projected to keep prices high, limiting the current market for boilers used in power plants.
Report Coverage
Global Power Plant Boiler research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Plant Boiler report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Plant Boiler competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Plant Boiler market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Mitsubishi Hitachi Power Systems, Ltd., Harbin Electric Corporation, Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation Limited, Alstom SA, Bharat Heavy Electricals Limited, General Electric, Doosan Corp., Siemens AG, Kawasaki Heavy Industries, Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Power Plant Boiler Market from 2021 to 2030.
- Market Forecast for Power Plant Boiler Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Power Plant Boiler competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Power Plant Boiler
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Plant Boiler market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Plant Boiler market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Mitsubishi Hitachi Power Systems, Ltd., Harbin Electric Corporation, Babcock & Wilcox Enterprises, Inc., Dongfang Electric Corporation Limited, Alstom SA, Bharat Heavy Electricals Limited, General Electric, Doosan Corp., Siemens AG, Kawasaki Heavy Industries, Ltd.
Primary Target Market
- Market Players of Power Plant Boiler
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power Plant Boiler market based on the below-mentioned segments:
Global Power Plant Boiler Market, By Type
Pulverized Boilers
Circulating Fluidized Boilers
Others
Global Power Plant Boiler market, By Fuel Type
Coal
Gas
Oil
Global Power Plant Boiler Market, By Technology
Supercritical
Subcritical
Ultra-supercritical
Global Power Plant Boiler market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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