Power Boilers
Market - Overview
The assessment conducted by
Market Research Future (MRFR) has suggested that the global Power
Boilers Market Size 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 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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