Power Plant Boiler Market Overview
The
assessment conducted by Market Research Future (MRFR) has suggested that the Power
Plant Boiler Market is anticipated to record a 4% CAGR over the
forecast period of 2016-2022. Power boilers refer to closed vessels where water
is converted to steam through heating. Such steam is produced in excessive
demand across different industrial processes. The global economy is estimated
to strengthen in the coming years, hence, creating more room for industrial
development. Such development in the industrial sector is expected to push the
global power boilers market growth exponentially.
Other
factors that are working in favour of the global power boilers market include
the urban migration and rapid industrialization. It is also projected to
acceleration the revenue generation for vendors present in the global power
boilers market over the next few years. Additionally, the support extended by
governments present in most economies across the globe for the adoption of
clean energy in power plants is another factor supplementing growth in the
global power boilers market. Investments are observed to compound in the
forthcoming years, owing to the rising awareness towards the environment and
adoption of environment-friendly ways of energy production. Such ascending
investments are bound to poise substantial growth in the global power boilers
market.
Power Plant Boiler Market Segmentation
The
global power boilers market is studied for various segments which are
segregated on the basis of type, technology, fuel type, and region. Based on
type, the global power boilers market is segmented into circulation fluidized
bed, pulverized fuel, and others. Based on technology, the report has studied
the segments of subcritical, supercritical, and ultra-supercritical. The
segments included in the report for power boilers market, based on fuel type,
include gas, coal, and oil.
Regional Analysis
The
global power boilers market is segmented into the regions of North America,
Asia Pacific, South America, Europe, and the Middle East & Africa.
Asia
Pacific is expected to secure a prime position in the global power boilers
market through the review period. Rapid industrialization in the APAC region, along
with the fast-paced internet penetration are expected to drive the expansion of
the market primarily. The report has also suggested that the region is expected
to emerge as the fastest-growing power boiler market in over the forecast
period.
North
America and Europe are expected to pose as important growth pockets and are
anticipated to upscale at a steady pace over the review period. Such regional
markets are poised to attract huge investments for upgrading existing plants
and setting up of new plants.
Key Players
Some
prominent players present in the global power boilers market include Siemens
AG, Hangzhou Boiler Group, Mitsubishi Hitachi Power System, Babcock &
Wilcox, AMEC Foster Wheeler, Harbin Electric, Thermax Ltd, and Alstom.
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