San Francisco, 31 October 2018 , 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 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)
Browse
More Reports Of This Category By Grand View Research At: 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
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
CSA
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
Access Full Press Release of this Report:
www.grandviewresearch.com/industry-analysis/power-plant-boiler-market
www.grandviewresearch.com/industry-analysis/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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