Power Boilers
Market - Overview
The assessment conducted by
Market Research Future (MRFR) has suggested that the global Power Boilers
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.
In developing countries, the
power boilers market is expected to expedite enormous growth opportunities.
Such growth can be accredited to the rapid urbanization and deep penetration of
industrialization within these regions. Further, advancements in technology
have led to proliferated adoption of electronically powered devices. Advent of
the internet, along with such devices, has contributed to the growing demand
for uninterrupted supply of energy. These factors are also contributing to the
ascension of the global power boilers market.
In developed countries,
governments have started recognizing duty towards environment and initiated
regulations to curb carbon emissions, hence, encouraging existing power plants
and other market players to shift towards cleaner means of energy production.
Apart from that, new entrants are also observed to undertake measures that are
in alignment with the clean energy movement. All these factors are contributing
to the substantial growth noted in the global power boilers market.
Power Boilers
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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