An enclosed vessel or container used to heat fluids such as water, in order to produce steam or vaporized liquid is called a boiler. In power plants the steam or hot water is circulated through a piping system, to transfer heat and use it for power generation.
Major factors driving growth of the global power plant boiler market are increasing number of power plants across the globe, owing to increasing energy demand and increasing government subsidiaries for using renewable source of energy. Major factors hampering growth of the global market are high capital investment and corrosion of boilers. Technological advancements towards development of more efficient boilers and increasing adoption of boilers using renewable source of energy is the current trend observed in the market, which is expected to further drive growth of the global market to significant extent over the forecast period.
The global power plant boiler market has been segmented on the basis of process type, technology, fuel type, and region. On the basis of process type, the global market is segmented into pulverized fuel combustion, fluidized bed combustion, and others.
On the basis of technology, the global market is segmented into subcritical, supercritical, and ultra-critical. Among them the supercritical segment is expected to witness highest growth in terms of revenue over the forecast period.
The global market is segmented into coal, oil, gas, and others, on the basis of fuel type. The coal segment accounts for highest market share, owing to its efficiency, ease in transportation, and availability of coal reservoirs across the globe.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for highest market share and is expected to witness highest growth over the forecast period. This growth can be attributed to increasing energy demand from countries in this region.
Key players in the global market Siemens AG, Mitsubishi Heavy Industries Ltd., Babcock & Wilcox Enterprises, Dongfang Electric Corporation, General Electric, AMEC Foster Wheeler, Doosan Heavy Industries & Construction, IHI Corporation, Bharat Heavy Electricals Ltd., Thermax Ltd, and other prominent players.