The global power plant boiler market size reached USD 20.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 29.3 Billion by 2033, exhibiting a growth rate (CAGR) of 3.73% during 2025-2033.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024
|
USD 20.7 Billion |
Market Forecast in 2033
|
USD 29.3 Billion |
Market Growth Rate 2025-2033 | 3.73% |
A power plant boiler is a type of mechanical equipment that produces steam by heating water and utilizes it to generate energy. The boiler is incorporated in a furnace that burns fossil fuels and creates heat which gets transferred to water to form steam. Over the years, the efficiency of these boilers has increased significantly, with some systems having a fuel-to-steam efficiency as high as 90%. The shape and size of these boilers depend upon their utility and they are primarily installed in power stations and industries with steam-based or hot water operations. The different types of power plant boilers include circulating fluidized boilers, multi-tube boilers and pulverized boilers, each having their distinct purpose and application.
The rising energy demand across the globe is a key factor driving the growth of the market. To meet this ever-increasing demand, governments of various nations are heavily investing in the development of existing power plants and the construction of new facilities. Rapid urbanization, coupled with industrialization in the emerging countries, has further fueled the demand for power plant boilers. Additionally, growing concerns for carbon emissions, along with an increasing demand for highly efficient energy solutions, have led to technological advancements in the manufacturing and functioning of boilers. Moreover, increasing reliance on electronic appliances such as air conditioners, microwave ovens, and washing machines has increased the energy requirements in both developing and developed nations, which is projected to boost the product demand further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global power plant boiler market report, along with forecasts at the global and regional level from 2025-2033. Our report has categorized the market based on type, technology, fuel type and input capacity.
Breakup by Type:
Breakup by Technology:
Breakup by Fuel Type:
Breakup by Input Capacity:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Babcock & Wilcox, AMEC Foster Wheeler, Dongfang Electric, General Electric, Doosan Heavy Industries & Construction, BHEL, Mitsubishi Hitachi Power Systems, Siemens, IHI Corporation, Thermax, etc.
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) |
The global power plant boiler market was valued at USD 20.7 Billion in 2024.
We expect the global power plant boiler market to exhibit a CAGR of 3.73% during 2025-2033.
The growing need for highly efficient energy solutions, owing to the rising adoption of electronic appliances, such as air conditioners, microwave ovens, washing machines, etc., is primarily driving the global power plant boiler market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous installation activities for power plant boilers.
Based on the type, the global power plant boiler market can be segmented into pulverized fuel boiler, circulation fluidized bed boiler, and others. Currently, pulverized fuel boiler holds the majority of the total market share.
Based on the technology, the global power plant boiler market has been divided into subcritical, supercritical, and ultra-supercritical. Among these, supercritical currently exhibits a clear dominance in the market.
Based on the fuel type, the global power plant boiler market can be categorized into coal, oil, gas, and others. Currently, coal accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global power plant boiler market include Babcock & Wilcox, AMEC Foster Wheeler, Dongfang Electric, General Electric, Doosan Heavy Industries & Construction, BHEL, Mitsubishi Hitachi Power Systems, Siemens, IHI Corporation, Thermax, etc.