Global Power Plant Boiler Market to Reach USD 29.3 Billion by 2033, Impelled by Escalating Energy Demand

January 06, 2025 | Energy & Mining

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The latest report by IMARC Group, titled "Power Plant Boiler Market Report by Type (Pulverized Fuel Boiler, Circulation Fluidized Bed Boiler, and Others), Technology (Subcritical, Supercritical, Ultra-Supercritical), Fuel Type (Coal, Oil, Gas, and Others), Input Capacity (< 10 MMBtu/Hr, 10-50 MMBtu/Hr, 50-100 MMBtu/Hr, 100-250 MMBtu/Hr, > 250 MMBtu/Hr), and Region 2025-2033," finds that the global power plant boiler market size reached USD 20.7 Billion in 2024. A power plant boiler is a type of mechanical equipment that produces steam by heating water and utilizes it to generate energy. It comprises a furnace that burns fossil fuels and creates heat which gets transferred to form steam. It is available in varying sizes depending upon the utility and is installed in power stations and industries with steam-based or hot water operations. Owing to these properties, there has been an escalating demand for power plant boilers across the globe.

Global Power Plant Boiler Market Trends:

The market is primarily driven by the escalating energy demand across the globe. In addition, governments of various nations are heavily investing in the development of existing power plants and the construction of new facilities. This, coupled with rapid industrialization in emerging countries, has escalated the demand for power plant boilers. Besides this, the market is also propelled by the growing reliance on electronic appliances such as air conditioners, microwave ovens, and washing machines. Moreover, the rising concerns for carbon emissions, the surging need for highly efficient energy solutions, and various technological advancements in the manufacturing and functioning of boilers are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach USD 29.3 Billion by 2033, exhibiting a CAGR of 3.73% during 2025-2033.

Market Summary:

Based on the type, the market has been classified into pulverized, circulation fluidized bed, and other boilers.
On the basis of technology, the market has been segregated into subcritical, supercritical, and ultra-supercritical.
Based on the fuel type, the market has been segmented into coal, oil, gas, and others.
On the basis of the input capacity, the market has been categorized into < 10, 10-50, 50-100, 100-250, and > 250 MMBtu/Hr.
Region-wise, the market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Babcock & Wilcox, AMEC Foster Wheeler, Dongfang Electric Pvt. Ltd, General Electric Company, Doosan Heavy Industries & Construction, Bharat Heavy Electricals Limited (BHEL), Mitsubishi Hitachi Power Systems, Siemens AG, IHI Corporation, Thermax Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Type, Technology, Fuel Type, Input Capacity, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Babcock & Wilcox, AMEC Foster Wheeler, Dongfang Electric, General Electric, Doosan Heavy Industries & Construction, BHEL, Mitsubishi Hitachi Power Systems, Siemens, IHI Corporation and Thermax
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Power Plant Boiler Market to Reach USD 29.3 Billion by 2033, Impelled by Escalating Energy Demand

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