Power Plant Boiler Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Pulverized Coal Tower Boiler, Circulating Fluidized Bed Boiler and Others), By Technology (Subcritical, Supercritical and Ultra-Supercritical), By Fuel Type (Gas Based, Coal Based, Oil Based and Others) and By Region

Global power plant boiler market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to growing urbanization & industrialization and increasing demand for power. Besides, increasing investments by government in the construction of new power plants and upgradation of the existing power plants. Besides, increasing reliance on electronic gadgets such as smartphones, smart automation, and others is likely to fuel the demand for power during the forecast period. Moreover, rising electricity production and consumption, owing to rising population and rapid economic growth are propelling the growth of the global power plant boiler market. Furthermore, increasing focus of many companies on offering advanced boiler upgrades for coal- and gas-fuelled power plants and continuous improvements for power generation capacity are anticipated to fuel the market growth. However, the cost of power plant boilers varies significantly due to parameters such as operating pressure, operating temperature, type of firing, and efficiency, which might restrict their adoption and hinder the growth of the global power plant boiler market.

The global power plant boiler market is segmented on the basis of type, technology, fuel type, and region. Based on technology, the market is divided into subcritical, supercritical and ultra-supercritical. The supercritical segment is expected to dominate the market, owing to the growing focus on upgradation of power infrastructure, which involves supercritical technology in power plant boilers. Based on fuel type, the market is divided into gas based, coal based, oil based and others. The coal segment is expected to dominate the market during the forecast period, owing to the increasing number of coal power plants due to easy availability of coal in the surroundings. Geographically, APAC region is the largest market, by size, and is projected to grow at the highest rate due to large number of power capacity expansion projects in China and India. Furthermore, to meet the growing demand for power in China and India the demand for boilers in these countries making Asia-Pacific a lucrative market for power plant boiler manufacturers.

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Some of the leading players in the global power plant boiler market are Mitsubishi Hitachi Power Systems Ltd, Dongfang Electric Corporation Ltd, IHI Corporation, Doosan Heavy Industries & Construction, Siemens AG, Thermax Ltd., GE Alstom, Babcock & Wilcox Co., Bharat Heavy Electricals Ltd., Harbin Electric Company, etc.