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 2024-2032
The global power plant boiler market size reached US$ 19.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 19.9 Billion
Market Forecast in 2032
US$ 28.5 Billion
Market Growth Rate 2024-2032
3.9%
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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
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 2024-2032. Our report has categorized the market based on type, technology, fuel type and input capacity.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Pulverized Fuel Boiler
Circulation Fluidized Bed Boiler
Others
Breakup by Technology:
Subcritical
Supercritical
Ultra-Supercritical
Breakup by Fuel Type:
Coal
Oil
Gas
Others
Breakup by Input Capacity:
< 10 MMBtu/Hr
10-50 MMBtu/Hr
50-100 MMBtu/Hr
100-250 MMBtu/Hr
> 250 MMBtu/Hr
Breakup by Region:
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North America
Asia Pacific
Europe
Middle East and Africa
Latin America
Competitive Landscape:
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 Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
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
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)
Key Questions Answered in This Report
The global power plant boiler market was valued at US$ 19.9 Billion in 2023.
We expect the global power plant boiler market to exhibit a CAGR of 3.9% during 2024-2032.
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.
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