San Francisco, 29
October 2018: The global powerplant boiler market is
expected to reach USD 28.0 billion by 2025, according to a new report by Grand
View Research, Inc. Rising demand for electricity is expected to propel the
sector growth. The
global population is increasing at a robust pace and likely to reach 2.2
billion by 2050. Moreover, the increase in population has led to rapid
urbanization, especially in the developing countries. As per the United Nations
World Urbanization Prospects, it is estimated that the urban population, which
was 30% of the global population in 1950, is projected to reach 66% by 2050.
The growing urbanization has led to a rise
in power consumption. To cope up with the rising power demand, governments
across the world are on the lookout for various alternatives to boost power
generation capacity. For instance, the government of India is offering power
generation subsidiaries to operators to generate power through biogas. The
government offers nearly USD 30 thousand per MW. The subsidy is valid only for
the boiler manufacturers and steam turbine producers. Such initiatives are
likely to produce modest demand for boilers over the forecast period.
Netherlands-based BDR Thermea acquired ECR
International in 2016 to expand the company’s existing product portfolio in the
North America market via the latter’s distribution network. Key vendors
analyzedin the report are Babcock & Wilcox Enterprises; Dongfang Electric
Corporation (DEC); Siemens AG; Mitsubishi Heavy Industries, Ltd.; and General
Electric (GE). Mergers and acquisitions continue to form an integral part of
the market growth.
Access Research Report of Power Plant Boiler Market @ www.grandviewresearch.com/industry-analysis/power-plant-boiler-market
Further key findings from the report suggest:
· The global demand for power plant boiler
market was USD 19.8 billion in 2016 and likely to reach USD 28.0 billion by
2025, at a predicted CAGR of 3.9% from 2017 to 2025
· Subcritical technology was the largest
segment in the market, accounting for over 73% of the total revenue in 2016
· Pulverized fuel combustion was the largest
process segment, in terms of revenue, in 2016. The segment is likely to be
valued at USD 15 billion by 2025, indicating a CAGR of 3.9%.
· In terms of revenue, APAC is expected to be
the largest regional market at a projected CAGR of 4.7% over the forecast
period
· The industry is dominated by a few
multinational corporations such Babcock & Wilcox Enterprises; Dongfang
Electric Corporation (DEC); Siemens AG; Mitsubishi Heavy Industries Ltd., and
General Electric (GE)
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the
global power plant boiler market by process, technology, fuel type, and region:
Process Outlook (Revenue, USD Million; 2014
- 2025)
·
Pulverized fuel combustion
·
Fluidized bed combustion
·
Others
Technology Outlook (Revenue, USD Million;
2014 - 2025)
·
Subcritical
·
Supercritical
·
Ultra-critical
Fuel type Outlook (Revenue, USD Million;
2014 - 2025)
·
Petroleum
·
Nuclear
·
Natural gas
·
Coal
·
Renewables
Regional Outlook (Revenue, USD Million;
2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
CSA
·
Middle East & Africa
Access Press Release of
Power Plant Boiler Market@ www.grandviewresearch.com/press-release/global-power-plant-boiler-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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