Power Boiler Market Overview
Power Boiler is a closed vessel, meant for heating
water to the extent where it gets converted into steam. Important factors
driving the global Power
Boiler Market Analysis include rapid industrialization & urbanization
and subsequently growing demand for power. The third crucial factor driving the
market is rapid industrialization & urbanization and subsequently, growing
demand for power. The fourth market driving factor is heavy investment from the
government in new power plants. In developed countries, governments are
constructing power plants using cleaner energy from renewable sources such as
biogas and biomass. Use of these sources can also drive the market.
Owing to
the rapid urbanization and industrialization in fast-developing countries,
demand for energy is on the rise. Power boiler is among one of solutions, which
is relied upon to meet electricity requirements. The growing investment in
development of new power plant is partly influencing power boilers market.
Emphasis is being placed on development power plant that product energy using
clean resources or resources that are restorable. Power boilers finds find
application in clean coal technology plant, natural gas plants, co-generation
plants among others.
Competitive Landscape
The leading players in the Power boiler
markets are Siemens AG, Babcock & Wilcox, Mitsubishi Hitachi Power System,
AMEC Foster Wheeler, Thermax Ltd, Harbin Electric, Hangzhou Boiler Group, and
Alstom.
Global Power Boiler Market Segmentation:
A detailed
segmental analysis of the power boiler market is available in the report, which
covers power boiler type, technology and fuel type.
By type,
the global power boiler market has been segmented into pulverized fuel,
circulation fluidized bed, and others.
By
technology, the power boiler market has been segmented into supercritical,
subcritical, and ultra-supercritical.
By fuel
type, the global power boiler market has been segmented into coal, gas, and oil
Regional
Segmentation
The regional segmentation of the global Power boiler
market covers Asia Pacific (APAC), Europe, North America, South America, and
the Middle East & Africa (MEA).
The Asia Pacific region is a major contributor to the
global market due to rapid industrialization in countries like China and India.
The demand for power boilers is increasing in these two countries. Another
important technologically advanced country-specific market in this region is
Japan. Other countries of the Asia Pacific region also contribute significantly
to market revenue.
During the forecast period, the market in North
America and Europe is expected to grow decently as both regions are developed,
industrialized, technologically advanced regions. Developed countries in these
regions are not only upgrading their existing power plants but also setting up
new cleaner (environment-friendly) fuel burning power plants to get more
efficiency. In North America, most advanced country-specific markets are the USA,
Canada, and Mexico. In Europe, such markets are France, Germany, Italy, Spain,
and the United Kingdom (UK). Other countries in Europe make a significant
contribution to the market. Most of the major market players are based in
Europe.
In South America, the market is limited because
technological advancement in this region is slower than that in North America.
Argentina and Brazil are two major country-specific markets in this region.
Other countries of South America are also expected to support market growth
during the forecast period.
In the MEA region, the market growth is slow due to
limited availability of technology, lack of infrastructure, and lack of skilled
professionals. The Middle East region has more development than the African
region, and thus, stands the chance of being the bigger sub-segment in this
regional market segment. The top country-specific markets in this region are
Saudi Arabia, UAE, Qatar, and South Africa. A significant revenue to this
market is also being contributed by the remaining countries of the MEA region.
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