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The need for advanced power boilers capable of effectively utilizing fuel from various sources is driven by such transition. Government policies and regulations also play a vital role in influencing the power boilers market. This necessitates industries to adopt energy-efficient technologies that help reduce pollution since there are stringent environmental standards and emission regulations. In addition, government-provided incentives and subsidies for greener energy forms enhance the uptake of new-generation power boilers meeting these regulatory specifications. Moreover, support policies on renewable energies combined with phasing out outdated inefficient power plants are key stimulants for investments into modern era boiler facilities.
The world’s economic realm including industrial activities has far reaching implications on the markets of cycles with respect to the same magnitude as those on this kind of marketing scenery as they do influence demand curve for electricity hence ultimately driving new installations of such plants then leading to mounting rates concerning demands amounting through them looking at it from another perspective. On the other hand, economical recessions or ups may affect investment choices thus influencing how quickly new constructions or upgrades concerning such facilities get done while affecting decisions made regarding whether or not to construct any further ones during such periods through macro-economic comparison based on business cycles.
Power generation technological advancements plus innovations shape the market for power boilers. Ongoing R&D efforts seek to enhance boiler efficiency, reduce emissions and overall performance. In this regard, innovative measures such as supercritical and ultra-supercritical boilers that work under higher temperatures and pressures have increased efficiencies and lower carbon footprint. Furthermore, digital technology deployment on monitoring, control and predictive maintenance is another step towards making power boilers more attractive in terms of optimisation and reliability to industries.
Fuel availability as well as pricing is among the major factors which influence fuel selection for power boilers. The abundance and cost-effectiveness of fuels such as coal, natural gas, biomass among others determine whether or not it is economically viable to generate electricity. The decision-making process for the most suitable fuel for use with a power boiler includes pricing fluctuations in fuels; geopolitical considerations as well as transformation taking place in global energy market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Government is constructing the power plants using cleaner energy |
Power Boilers Market Highlights:
Power Boilers Market Scenario
Power boilers market is expected to register a CAGR of about 4.0% through 2022-2030.
Power Boiler is basically a closed vessel into which water is heated until the water is converted to steam. The steam produced by the power boiler, transferred through piping to number of applications. In developing countries, due to rapid industrialization & urbanization, demand for the power is increases considerably. To meet this demand, government is heavily investing in new power plants which will drive the Power Boilers Industry. In developed countries, government is constructing the power plants using cleaner energy such as biomass power, biogas which is another driving factor for the market.
Key Players
The leading players in the Power boilers markets are Siemens AG, Babcock & Wilcox, Mitsubishi Hitachi Power System, AMEC Foster Wheeler, Thermax Ltd, Harbin Electric, Hangzhou Boiler Group, and Alstom.
Study Objectives of Power boilers Market
- To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Global Market
- To provide insights about factors affecting the market growth
- To Analyze the Global Power boilers Industry based on various factors such as supply chain analysis, and Porter’s five force analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments by Type, by Technology, and by Fuel Type.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Power boilers Market
Market Segmentation
Regional Analysis of Power boilers
Asia-Pacific region is a major contributor to the market because rapid industrialization in countries like China, India increases the demand for Power boiler. It is expected to grow at high rate and retain its majority by 2022. North America & Europe Power Boilers market is expected to grow at a decent rate. They are upgrading their existing power plants and setting up new cleaner fuel burning power plants to get more efficiency.
Global Power boilers Market, By Region, 2030 (USD billion)
Intended Audience
- Power boilers manufacturers
- Distributer & Supplier companies
- Power sector consultants and Investment bankers
- Energy & Power Associations
- Government as well as Independent Regulatory Authorities
Geographic Analysis
- Geographical analysis across 21 countries
The report covers brief analysis of country level market information –
North America
- U. S.
- Canada
- Mexico
South America
- Brazil
- Argentina
- Rest Of South America
Europe
- Germany
- France
- Italy
- U. K.
- Spain
- Rest Of Europe
Asia–Pacific
- China
- India
- Japan
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest Of Middle East & Africa
The report for Global Power boilers Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Power Boilers Industry Developments
By FY 2024, JERA & MHI will create a newfangled burner that can be utilized to burn ammonia as an exclusive fuel and develop a planning process to incorporate it into real boilers.
In August 2023, Bharat Heavy Electricals Limited, Tiruchi, sent boiler components for the 2 X 660 MW supercritical thermal power plant for a thermal power project of NTPC in Angul district of Odisha.
In November 2023, THDC India Limited, a Government owned power company concluded boiler testing on Unit #2 at Khurja Super Thermal Power Plant located in Bulandshahr, Uttar Pradesh.
In November 2023, Adani Power Ltd. announced plans to run the 330 MW boiler in Gujarat using green ammonia and conventional fuel coal, where the green ammonia will be just about twenty percent (%) of the entire amount of fuel needed annually.
In October 2023, Babcock & Wilcox Enterprises, Inc. officially disclosed that its Canadian subsidiary, Babcock & Wilcox Canada Corp., signed an agreement with a multi-year utility plant maintenance contract with Newfoundland and Labrador Hydro to develop Holyrood Thermal Generating Station situated in Newfoundland, Canada. The contract has an approximate value of $11 million USD and enables customers to take additional work.
In October 2023, Renova Inc., a Japanese renewable energy developer, said it had delayed commercial operations for two biomass-fired power plants totaling over 150MW. October and December saw the launch of Tokushima Tsuda (74.8 MW) and Ishinomaki Hibarino (75 MW), respectively. The firm explained this postponement due to final adjustments to turbine and boiler facilities.
In September 2023, Eskom developed Medupi coal-fired power station worth US$9.7 billion, which is one of the biggest dry-cooled coal-fired electricity generating plants, as well as being among the top coal-based power stations.
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