Product Code: A10498
The global power plant boiler market was valued at $19.0 billion in 2021, and is projected to reach $31.1 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
A power plant boiler is an advanced piece of equipment made up of numerous parts, including a furnace, water walls, superheaters, economizers, and air preheaters. Together, these elements help to ensure efficient fuel combustion and heat transfer from the fuel to the working fluid, which is usually steam or water. The power plant boiler market is driven by several factors, including the increase in demand for energy, technological advancements in power plant boiler designs and materials, and surge in awareness of environmental issues and the need for sustainable energy solutions. However, limited availability of skilled labor for installation and maintenance and fluctuations in fuel prices limit the market growth. The increase in demand for power plant boilers in emerging economies presents a significant opportunity for the market.
However, limited funding for R&D can slow down the pace of innovation in the power plant boiler market. Power plant boiler manufacturers may struggle to develop new and innovative technologies that can improve efficiency, reduce emissions, and meet new regulatory standards without sufficient investment in R&D. Limited funding for R&D can also lead to higher costs for power plant boiler manufacturers. Manufacturers might have to spend more on developing new technologies or finding alternative sources of funding, which can increase the overall cost of production. Limited funding for R&D can also limit the adoption of new technologies in the power plant boiler market.
Power plant operators may be hesitant to invest in new technologies that are unproven or have not been adequately tested, which can limit the uptake of new products. The abovementioned reasons are projected to hamper the development of the power plant boiler market.
The global power plant boiler market analysis is segmented into fuel type, type, technology, and capacity. By fuel type, the market is divided into coal-fired boilers, gas-fired boilers, oil-fired boilers, and others. By type, the market is classified into pulverized boilers, circulating fluidized boilers, and others. By technology, the market is categorized into subcritical, supercritical, and ultra-supercritical. By capacity, the market is fragmented into less than 400 MW, 400-800 MW, and more than 800 MW. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The North America market for power plant boilers is expanding rapidly. In the U.S., the demand for efficient and reliable power generation systems is driving growth, with favorable policies for renewable energy and advancements in technology. Researchers in the U.S. are utilizing digital solutions to optimize operations and reduce downtime.
Canada is investing heavily in power generation infrastructure, including power plant boilers, to meet the increase in demand for energy from major industrial sectors such as mining, forestry, and manufacturing. In Mexico, the growing economy is fueling demand for power plant boilers, with the country's energy requirements on the rise. Overall, the power plant boiler market in North America is poised for significant growth, with technology advancements and increase in demand for cost-effective and reliable power generation driving the trend.
Key players in the power plant boiler industry are: General Electric (GE), Siemens AG, Babcock & Wilcox Enterprises, Inc., Mitsubishi Hitachi Power Systems, Ltd., Doosan Heavy Industries & Construction Co., Ltd., Bharat Heavy Electricals Limited (BHEL), Alstom SA, Harbin Electric Corporation, Dongfang Electric Corporation Limited, and Kawasaki Heavy Industries, Ltd. These players have adopted various strategies to gain a higher share or retain leading positions in the market.
Impact of COVID-19 on the global power plant boiler market
The decrease in energy demand resulted in a decrease in the demand for power plant boilers. Furthermore, the supply chain disruptions and labor shortages caused by the pandemic impacted the manufacturing and construction of power plant boilers. Project delays and cancellations due to the uncertain economic environment also led to a slowdown in market growth. The COVID-19 pandemic has had a short-term impact on the power plant boiler market, but the long-term outlook for the market remains positive.
The market post-pandemic period is driven by factors such as rising energy demand, increasing focus on reducing greenhouse gas emissions, and government initiatives promoting renewable energy sources. The adoption of digital technologies and the use of advanced materials in power plant boilers are expected to drive innovation and improve the efficiency of power plant operations. The power plant boiler market is expected to play a critical role in the global transition toward a more sustainable and energy-efficient future.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the power plant boiler market analysis from 2021 to 2031 to identify the prevailing power plant boiler market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the power plant boiler market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global power plant boiler market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Fuel Type
- Coal-Fired Boilers
- Gas-Fired Boilers
- Oil-Fired Boilers
- Others
By Type
- Pulverized Boilers
- Circulating Fluidized Boilers
- Others
By Technology
- Subcritical
- Supercritical
- Ultra-supercritical
By Capacity
- Less than 400 MW
- 400-800 MW
- More than 800 MW
By Region
- North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- General Electric
- Siemens AG
- Babcock & Wilcox Enterprises, Inc.
- Bharat Heavy Electricals Limited
- Alstom SA
- Harbin Electric Corporation
- Doosan Corp.
- Kawasaki Heavy Industries, Ltd.
- Dongfang Electric Corporation Limited
- Mitsubishi Hitachi Power Systems, Ltd.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Increase in demand for energy
- 3.4.1.2. Technological advancements in power plant boiler designs and materials
- 3.4.1.3. Rise in awareness of environmental issues and the need for sustainable energy solutions
- 3.4.2. Restraints
- 3.4.2.1. Limited availability of skilled labor for installation and maintenance
- 3.4.2.2. Fluctuations in fuel prices
- 3.4.3. Opportunities
- 3.4.3.1. Increase in demand for power plant boilers in emerging economies
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Key Regulation Analysis
- 3.7. Value Chain Analysis
CHAPTER 4: POWER PLANT BOILER MARKET, BY FUEL TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Coal-Fired Boilers
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Gas-Fired Boilers
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Oil-Fired Boilers
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: POWER PLANT BOILER MARKET, BY TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Pulverized Boilers
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Circulating Fluidized Boilers
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Others
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: POWER PLANT BOILER MARKET, BY TECHNOLOGY
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Subcritical
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Supercritical
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Ultra-supercritical
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: POWER PLANT BOILER MARKET, BY CAPACITY
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Less than 400 MW
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. 400-800 MW
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. More than 800 MW
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
CHAPTER 8: POWER PLANT BOILER MARKET, BY REGION
- 8.1. Overview
- 8.1.1. Market size and forecast By Region
- 8.2. North America
- 8.2.1. Key trends and opportunities
- 8.2.2. Market size and forecast, by Fuel Type
- 8.2.3. Market size and forecast, by Type
- 8.2.4. Market size and forecast, by Technology
- 8.2.5. Market size and forecast, by Capacity
- 8.2.6. Market size and forecast, by country
- 8.2.6.1. U.S.
- 8.2.6.1.1. Key market trends, growth factors and opportunities
- 8.2.6.1.2. Market size and forecast, by Fuel Type
- 8.2.6.1.3. Market size and forecast, by Type
- 8.2.6.1.4. Market size and forecast, by Technology
- 8.2.6.1.5. Market size and forecast, by Capacity
- 8.2.6.2. Canada
- 8.2.6.2.1. Key market trends, growth factors and opportunities
- 8.2.6.2.2. Market size and forecast, by Fuel Type
- 8.2.6.2.3. Market size and forecast, by Type
- 8.2.6.2.4. Market size and forecast, by Technology
- 8.2.6.2.5. Market size and forecast, by Capacity
- 8.2.6.3. Mexico
- 8.2.6.3.1. Key market trends, growth factors and opportunities
- 8.2.6.3.2. Market size and forecast, by Fuel Type
- 8.2.6.3.3. Market size and forecast, by Type
- 8.2.6.3.4. Market size and forecast, by Technology
- 8.2.6.3.5. Market size and forecast, by Capacity
- 8.3. Europe
- 8.3.1. Key trends and opportunities
- 8.3.2. Market size and forecast, by Fuel Type
- 8.3.3. Market size and forecast, by Type
- 8.3.4. Market size and forecast, by Technology
- 8.3.5. Market size and forecast, by Capacity
- 8.3.6. Market size and forecast, by country
- 8.3.6.1. Germany
- 8.3.6.1.1. Key market trends, growth factors and opportunities
- 8.3.6.1.2. Market size and forecast, by Fuel Type
- 8.3.6.1.3. Market size and forecast, by Type
- 8.3.6.1.4. Market size and forecast, by Technology
- 8.3.6.1.5. Market size and forecast, by Capacity
- 8.3.6.2. France
- 8.3.6.2.1. Key market trends, growth factors and opportunities
- 8.3.6.2.2. Market size and forecast, by Fuel Type
- 8.3.6.2.3. Market size and forecast, by Type
- 8.3.6.2.4. Market size and forecast, by Technology
- 8.3.6.2.5. Market size and forecast, by Capacity
- 8.3.6.3. Italy
- 8.3.6.3.1. Key market trends, growth factors and opportunities
- 8.3.6.3.2. Market size and forecast, by Fuel Type
- 8.3.6.3.3. Market size and forecast, by Type
- 8.3.6.3.4. Market size and forecast, by Technology
- 8.3.6.3.5. Market size and forecast, by Capacity
- 8.3.6.4. Spain
- 8.3.6.4.1. Key market trends, growth factors and opportunities
- 8.3.6.4.2. Market size and forecast, by Fuel Type
- 8.3.6.4.3. Market size and forecast, by Type
- 8.3.6.4.4. Market size and forecast, by Technology
- 8.3.6.4.5. Market size and forecast, by Capacity
- 8.3.6.5. UK
- 8.3.6.5.1. Key market trends, growth factors and opportunities
- 8.3.6.5.2. Market size and forecast, by Fuel Type
- 8.3.6.5.3. Market size and forecast, by Type
- 8.3.6.5.4. Market size and forecast, by Technology
- 8.3.6.5.5. Market size and forecast, by Capacity
- 8.3.6.6. Rest of Europe
- 8.3.6.6.1. Key market trends, growth factors and opportunities
- 8.3.6.6.2. Market size and forecast, by Fuel Type
- 8.3.6.6.3. Market size and forecast, by Type
- 8.3.6.6.4. Market size and forecast, by Technology
- 8.3.6.6.5. Market size and forecast, by Capacity
- 8.4. Asia-Pacific
- 8.4.1. Key trends and opportunities
- 8.4.2. Market size and forecast, by Fuel Type
- 8.4.3. Market size and forecast, by Type
- 8.4.4. Market size and forecast, by Technology
- 8.4.5. Market size and forecast, by Capacity
- 8.4.6. Market size and forecast, by country
- 8.4.6.1. China
- 8.4.6.1.1. Key market trends, growth factors and opportunities
- 8.4.6.1.2. Market size and forecast, by Fuel Type
- 8.4.6.1.3. Market size and forecast, by Type
- 8.4.6.1.4. Market size and forecast, by Technology
- 8.4.6.1.5. Market size and forecast, by Capacity
- 8.4.6.2. Japan
- 8.4.6.2.1. Key market trends, growth factors and opportunities
- 8.4.6.2.2. Market size and forecast, by Fuel Type
- 8.4.6.2.3. Market size and forecast, by Type
- 8.4.6.2.4. Market size and forecast, by Technology
- 8.4.6.2.5. Market size and forecast, by Capacity
- 8.4.6.3. India
- 8.4.6.3.1. Key market trends, growth factors and opportunities
- 8.4.6.3.2. Market size and forecast, by Fuel Type
- 8.4.6.3.3. Market size and forecast, by Type
- 8.4.6.3.4. Market size and forecast, by Technology
- 8.4.6.3.5. Market size and forecast, by Capacity
- 8.4.6.4. South Korea
- 8.4.6.4.1. Key market trends, growth factors and opportunities
- 8.4.6.4.2. Market size and forecast, by Fuel Type
- 8.4.6.4.3. Market size and forecast, by Type
- 8.4.6.4.4. Market size and forecast, by Technology
- 8.4.6.4.5. Market size and forecast, by Capacity
- 8.4.6.5. Australia
- 8.4.6.5.1. Key market trends, growth factors and opportunities
- 8.4.6.5.2. Market size and forecast, by Fuel Type
- 8.4.6.5.3. Market size and forecast, by Type
- 8.4.6.5.4. Market size and forecast, by Technology
- 8.4.6.5.5. Market size and forecast, by Capacity
- 8.4.6.6. Rest of Asia-Pacific
- 8.4.6.6.1. Key market trends, growth factors and opportunities
- 8.4.6.6.2. Market size and forecast, by Fuel Type
- 8.4.6.6.3. Market size and forecast, by Type
- 8.4.6.6.4. Market size and forecast, by Technology
- 8.4.6.6.5. Market size and forecast, by Capacity
- 8.5. LAMEA
- 8.5.1. Key trends and opportunities
- 8.5.2. Market size and forecast, by Fuel Type
- 8.5.3. Market size and forecast, by Type
- 8.5.4. Market size and forecast, by Technology
- 8.5.5. Market size and forecast, by Capacity
- 8.5.6. Market size and forecast, by country
- 8.5.6.1. Brazil
- 8.5.6.1.1. Key market trends, growth factors and opportunities
- 8.5.6.1.2. Market size and forecast, by Fuel Type
- 8.5.6.1.3. Market size and forecast, by Type
- 8.5.6.1.4. Market size and forecast, by Technology
- 8.5.6.1.5. Market size and forecast, by Capacity
- 8.5.6.2. Saudi Arabia
- 8.5.6.2.1. Key market trends, growth factors and opportunities
- 8.5.6.2.2. Market size and forecast, by Fuel Type
- 8.5.6.2.3. Market size and forecast, by Type
- 8.5.6.2.4. Market size and forecast, by Technology
- 8.5.6.2.5. Market size and forecast, by Capacity
- 8.5.6.3. South Africa
- 8.5.6.3.1. Key market trends, growth factors and opportunities
- 8.5.6.3.2. Market size and forecast, by Fuel Type
- 8.5.6.3.3. Market size and forecast, by Type
- 8.5.6.3.4. Market size and forecast, by Technology
- 8.5.6.3.5. Market size and forecast, by Capacity
- 8.5.6.4. Rest of LAMEA
- 8.5.6.4.1. Key market trends, growth factors and opportunities
- 8.5.6.4.2. Market size and forecast, by Fuel Type
- 8.5.6.4.3. Market size and forecast, by Type
- 8.5.6.4.4. Market size and forecast, by Technology
- 8.5.6.4.5. Market size and forecast, by Capacity
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product Mapping of Top 10 Player
- 9.4. Competitive Dashboard
- 9.5. Competitive Heatmap
- 9.6. Top player positioning, 2021
CHAPTER 10: COMPANY PROFILES
- 10.1. General Electric
- 10.1.1. Company overview
- 10.1.2. Key Executives
- 10.1.3. Company snapshot
- 10.1.4. Operating business segments
- 10.1.5. Product portfolio
- 10.1.6. Business performance
- 10.2. Siemens AG
- 10.2.1. Company overview
- 10.2.2. Key Executives
- 10.2.3. Company snapshot
- 10.2.4. Operating business segments
- 10.2.5. Product portfolio
- 10.2.6. Business performance
- 10.3. Babcock & Wilcox Enterprises, Inc.
- 10.3.1. Company overview
- 10.3.2. Key Executives
- 10.3.3. Company snapshot
- 10.3.4. Operating business segments
- 10.3.5. Product portfolio
- 10.3.6. Business performance
- 10.3.7. Key strategic moves and developments
- 10.4. Mitsubishi Hitachi Power Systems, Ltd.
- 10.4.1. Company overview
- 10.4.2. Key Executives
- 10.4.3. Company snapshot
- 10.4.4. Operating business segments
- 10.4.5. Product portfolio
- 10.5. Doosan Corp.
- 10.5.1. Company overview
- 10.5.2. Key Executives
- 10.5.3. Company snapshot
- 10.5.4. Operating business segments
- 10.5.5. Product portfolio
- 10.5.6. Business performance
- 10.5.7. Key strategic moves and developments
- 10.6. Bharat Heavy Electricals Limited
- 10.6.1. Company overview
- 10.6.2. Key Executives
- 10.6.3. Company snapshot
- 10.6.4. Operating business segments
- 10.6.5. Product portfolio
- 10.6.6. Business performance
- 10.6.7. Key strategic moves and developments
- 10.7. Alstom SA
- 10.7.1. Company overview
- 10.7.2. Key Executives
- 10.7.3. Company snapshot
- 10.7.4. Operating business segments
- 10.7.5. Product portfolio
- 10.7.6. Business performance
- 10.8. Harbin Electric Corporation
- 10.8.1. Company overview
- 10.8.2. Key Executives
- 10.8.3. Company snapshot
- 10.8.4. Operating business segments
- 10.8.5. Product portfolio
- 10.8.6. Business performance
- 10.9. Dongfang Electric Corporation Limited
- 10.9.1. Company overview
- 10.9.2. Key Executives
- 10.9.3. Company snapshot
- 10.9.4. Operating business segments
- 10.9.5. Product portfolio
- 10.9.6. Business performance
- 10.10. Kawasaki Heavy Industries, Ltd.
- 10.10.1. Company overview
- 10.10.2. Key Executives
- 10.10.3. Company snapshot
- 10.10.4. Operating business segments
- 10.10.5. Product portfolio
- 10.10.6. Business performance