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Pulished Date April, 2021
ID: 11477
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Power Plant Boiler Market Segmented by Type (Pulverized Coal Towers, CFB, Others), Technology (Subcritical, Supercritical, Ultra-supercritical), Fuel Type (Coal, Gas, Oil), and Region, Size, Share, Trends and Growth Analysis Report – Industry Forecast | 2021 to 2026

Pulished: April, 2021
ID: 11477
Pages: 175

Power Plant Boiler Market size and growth:

The global power plant boiler market size is projected to achieve US 22.8 billion dollars by 2026, at a CAGR of 4.8%, from the estimated US 18.1 billion dollars in 2020.

Increasing demand for electricity and an increase in the adoption of supercritical and ultra-supercritical boiler technologies to enhance efficiency are expected to drive the power plant boiler market. A power plant boiler is a sort of mechanical equipment that produces steam by heating water and utilizes it to generate energy. The boiler is incorporated during a furnace that burns fossil fuels and creates heat which gets transferred to water to make steam. Over the years, the efficiency of those boilers has increased significantly, with some systems having a fuel-to-steam efficiency as high as 90%

Recent Developments in Power Plant Boiler Market:

In February, General Electric signed a contract with Hitachi Zosen Corporation. Under the contract, General Electric will offer a turbine generator, CFB boiler, and air quality control system to the Kamisu Biomass Power Generation plant in Japan.

Power Plant Boiler Market Drivers:

Power plant boilers use various fuels like coal, gas, petroleum, and biomass/wastes to supply high-pressured steam in order that plants can generate electricity. Electricity is that the fastest-growing source of energy demand. Developed countries still consume huge amounts of energy, thus increasing the demand in developing countries.

Power Plant Boiler Market Restraints:

A power plant may be a complex facility and requires high investments in engineering, procurement, construction (EPC) or turnkey services, and technology. Construction costs for brand spanking new power plants are widely dependent on the kind of electricity generation technology it's harnessing. Additionally, post-construction phases, like maintenance, and installation of technology, also require considerable capital investment. Furthermore, stringent environmental regulations and, therefore, the high cost of technology utilized in supporting power plants impact the ultimate construction cost.

The cost of power plant boilers varies considerably because of design parameters and ranging levels of after-sales support. These parameters include operating pressure, operating temperature, sort of firing, and efficiency desired. The necessity for top pressure and heat increases the value of the boiler. The installation of power station boilers also requires huge capital. Additionally, the system used for coal firing or gas firing within the boiler also influences the value of the boiler.

Opportunities in the Power Plant Boiler Market:

Boilers are essential equipment for power plants. The replacement and upgrade of old equipment provide a beautiful opportunity for several power producers. The rising demand for reliable power delivery replacing older boilers with newer advanced, efficient boilers helps in boosting the thermal efficiency of power plants. Many companies specialize in offering advanced boiler upgrades for coal- and gas-fuelled power plants, which may contribute to their multiple fuel flexibility and reduce the potential impact of CO2 emissions. Developed countries like the US, Canada, the UK, and Germany have aging power infrastructure with low-efficiency levels and high carbon emissions. Continuous investments are happening in these countries to enhance the facility generation capacity. Consistent with the IEA, approximately USD 9,553 billion would be spent cumulatively on the development of the latest power plants and, therefore, the refurbishment of the prevailing ones across the planet from 2019 to 2035, with 30% of the amount being used for fossil-fuelled power plants. Such high investments in construction and aging upgrading infrastructure offer a lucrative opportunity for the power plant boiler market during the forecast period.

Power Plant Boiler Market Segmentation

The power plant boiler market is segmented based on type, technology, and fuel type.

By Type

  • Pulverized Coal Towers, 
  • CFB, 
  • Others

Pulverized Coal towers segment is expected to dominate the power plant boiler market. Advancements boost the development of this segment in supercritical and ultra-supercritical technologies to upgrade to aging power plant boilers to increase efficiency.

By technology

  • Subcritical
  • Supercritical
  • Ultra-supercritical

The supercritical segment held the largest share of the power plant boiler market. The prime focus on developing power infrastructure and the rise in implementation of supercritical technology over subcritical are boosting the segment of supercritical technology in the power plant boiler market. Moreover, the efficiency of a supercritical boiler is better as it consumes less fuel than a subcritical boiler to generate the same amount of heat energy.

By Fuel Capacity

  • Coal
  • Gas
  • Oil

Coal is the major source of the fuel type used for power generation and roughly accounts for 40% of the worldwide energy generation. The utilization of coal is probably going to extend within the coming years despite concerns over high carbon emissions. Governments across the planet are trying to find various alternatives to limit pollution caused thanks to coal by adopting efficient technologies. Thus, it's required that the industry and government embrace new technologies to make sure the usage of coal is a cleaner source of energy within the coming years.

Power Plant Boiler Market Regional Analysis:

The Asia Pacific is probably going to dominate the global power plant boiler market. The region is predicted to grow from 51.4% in 2020 to 55.0% by 2026. Currently, Asia Pacific is experiencing enormous demand for merchandise and is witnessing growth potential as power consumption within the region grows exponentially. The rapid urbanization within the region may be a key driver for growth. India and China are likely to watch the very best growth within the urban population. For example, as per the UN report, China and India were the highest two countries in terms of population. In India, about 33% of the entire population of 1.3 billion reside in urban areas. These factors are expected to spice up product demand over the forecast period. The increasing urban population, including the rising strain on the present power capacity, is predicted to fuel the power plant boiler market over the forecast period.

Impact of COVID-19 pandemic on Power Plant Boilers Market:

COVID-19 has slowed the expansion of the facility industry currently. This is often primarily because more and more countries resort to nationwide lockdowns to stop further spikes in spreading the disease. This slowdown is especially because of economic contractions, which have resulted in the reduction of power demand from various end-user industries. With the decrease in power demand, it's estimated that there would be very negligible investments from the utilities for replacing aging power infrastructure; additionally, major power projects are expected to be halted or delayed. As an example, in India, about 40% of the electricity demand is generated from industrial and commercial establishments and accounts for a better percentage of sales revenue. Furthermore, according to the IEA, electricity demand has fallen by over 20% during times of full lockdown in several countries due to reductions in commercial and industrial operations. Also, the demand for various fuel sources, like coal, gas, and nuclear power, that generate electricity had dropped during the amount of lockdown.

Furthermore, the spread of COVID-19 will probably have an adverse effect on the manufacturers of power station boilers, thanks to the worldwide shutdown and issues along the availability chain. The worth for procuring raw materials are additionally expected to extend because of the shortage of supply, which ultimately will cause delay so as closures. For example, Siemens witnessed a pointy fall in demand from China, Germany, and Italy, where the impact of COVID-19 is high.

Power Plant Boilers Market Key Players:

Key Players operating in the power plant boilers market are

  • Sumitomo Heavy Industries
  • Valmet
  • Harbin Electric6

 

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Power Plant Boiler Market, By Type               

                             6.1.1 Pulverized Coal Towers    

                             6.1.2 CFB           

                             6.1.3 Others     

                             6.1.4 Market Size Estimations & Forecasts (2021-2026) 

                             6.1.5 Y-o-Y Growth Rate Analysis            

                             6.1.6 Market Attractiveness Index          

              6.2 Power Plant Boiler Market, By Technology                 

                             6.2.1 Subcritical

                             6.2.2 Supercritical          

                             6.2.3 Ultra-supercritical

                             6.2.4 Market Size Estimations & Forecasts (2021-2026) 

                             6.2.5 Y-o-Y Growth Rate Analysis            

                             6.2.6 Market Attractiveness Index          

              6.3 Power Plant Boiler Market, By Fuel Type                     

                             6.3.1 Coal          

                             6.3.2 Gas           

                             6.3.3 Oil             

                             6.3.4 Market Size Estimations & Forecasts (2021-2026) 

                             6.3.5 Y-o-Y Growth Rate Analysis            

                             6.3.6 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Technology      

                             7.2.4 By Fuel Type         

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Technology      

                             7.3.4 By Fuel Type         

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Technology      

                             7.4.4 By Fuel Type         

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Technology      

                             7.5.4 By Fuel Type         

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Technology      

                             7.6.4 By Fuel Type         

8. Key Player Analysis                                

              8.1 Siemens                    

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 IHI Corporation                      

              8.3 Babcock & Wilcox Enterprise (US)                  

              8.4 Dongfang Electric Corporation (China)                        

              8.5 Doosan Heavy Industries & Construction (Korea)                   

              8.6 General Electric (US)                           

              8.7 Mitsubishi Hitachi Power Systems (Japan)                  

              8.8 John wood Group                 

              8.9 Bharat Heavy Electrical Limited                       

              8.10 Thermax, Andritz Group                  

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Power Plant Boiler Market By Region, From 2021-2026 ( USD Billion )
  2. Global Power Plant Boiler Market By Type, From 2021-2026 ( USD Billion )
  3. Global Pulverized Coal Towers Market By Region, From 2021-2026 ( USD Billion )
  4. Global CFB Market By Region, From 2021-2026 ( USD Billion )
  5. Global Others Market By Region, From 2021-2026 ( USD Billion )
  6. Global Power Plant Boiler Market By Technology, From 2021-2026 ( USD Billion )
  7. Global Subcritical Market By Region, From 2021-2026 ( USD Billion )
  8. Global Supercritical Market By Region, From 2021-2026 ( USD Billion )
  9. Global Ultra-supercritical Market By Region, From 2021-2026 ( USD Billion )
  10. Global Power Plant Boiler Market By Fuel Type, From 2021-2026 ( USD Billion )
  11. Global Coal Market By Region, From 2021-2026 ( USD Billion )
  12. Global Gas Market By Region, From 2021-2026 ( USD Billion )
  13. Global Oil Market By Region, From 2021-2026 ( USD Billion )

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