PUNE, India, March 22, 2016 /PRNewswire/ --
The report" Power Plant Boiler Market by Type (Pulverized Fuel, Circulation Fluidized Bed, Others), by Technology (Subcritical, Supercritical, Ultra-supercritical), by Fuel Type (Coal, Gas, Oil, and Others), & Region - Global Trends & Forecast to 2021", published by MarketsandMarkets. The market is projected to reach USD 24.40 Billion by 2021. The market size was valued at USD 19.16 Billion in 2015, and is expected to grow at a CAGR of 4.1% during the forecast period.
Browse 55 Tables and 37 Figures spread through 150 Pages and in-depth TOC on "Power Plant Boiler Market"
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Rapid growth of industrialization in countries such as China, India, Vietnam, and Brazil among others is expected to demand a huge amount of electricity. To meet this growing demand of electricity, governments are spending heavily in the development of new power plants and upgradation of existing power plants. The development and upgradation of new and existing power plant prove to be a potential market for utility boiler manufacturers. In developed countries such as U.S, U.K. and Germany, government is promoting and constructing power plants using cleaner energy such as biomass, biogas, waste-to-energy which will drive the advance utility boiler market.
Easy availability, sourcing, and transportation of coal is expected to drive the market for pulverized fuel type boiler
Power generation energy mix in most of the countries is dominated by coal. The overall capital requirement for setting up a coal based power plant is comparatively less compared to other fuel based power plants. Also, coal is easily available in most of the countries, and can also be transported from one place to other without any hassle. Hence, pulverized fuel boiler is estimated to control major share of the market due to large number of coal based power plant projects especially in China and India.
Supercritical boiler technology to capture major share of Power Plant Boiler Market
Supercritical boilers have more efficiency compared to subcritical boilers and causes less COx, NOx, and SOx emissions. These factors facilitate the technological advancement of supercritical boiler and hence the demand and number of installation for these boilers is the highest among others. . However, with the advent of technology the ultra-supercritical technology boiler manufacturers are coming with boilers which are superior in terms of efficiency and have lowest pollutant emission. These benefits have made ultra-supercritical boiler very popular in the Power Plant Boiler Market and are estimated to grow at the highest rate during the next five years.
Asia-Pacific to dominate the global Power Plant Boiler Market
Rapid industrialization in China, India, and other developing countries, and switch to cleaner power generation sources such as biogas and biomass in developed countries is estimated to drive the market for power plant boilers in Asia-Pacific region.
The report covers major market players such as Siemens AG (Germany), AMEC Foster Wheeler (U.K.), Babcock & Wilcox (U.S.), GE (U.S.) along with other prominent manufacturers of power plant boilers.
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