Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Power Boiler Market.
As per Market Research Future (MRFR)’s assessment reveals that the global power boiler market has been projected to expand at a steady CAGR of 4% during the forecast period 2016 to 2022. Power boilers are closed vessels where water is converted to steam through heating. This steam produced is in excessive demand across different industrial processes. The global economy is expected to strengthen in the upcoming years, thus, creating more room for industrial development. This, in turn, is poised to have a favorable impact on the expansion of the power boiler market over the next couple of years.
Urban migration and rapid industrialization are catalyzing the growth of the market in developing nations. It is projected to accelerate revenue creation for the participants of the power boiler market over the next couple of years. In addition, the support extended by the governments for the adoption of cleaner energy in power plants is another major factor responsible for the proliferation of the power boiler market. Investments are likely to flow towards the adoption of new technologies that leverage renewable sources of energy such as biomass. It is expected to expedite the development of the market. Furthermore, the efforts directed towards minimization of carbon emissions is also projected to affect the growth pattern of the power boiler market positively across the review period.
By type, the global power boiler market has been segmented into pulverized fuel, circulation fluidized bed, and others.
By technology, the power boiler market has been segmented into supercritical, subcritical, and ultra-supercritical.
By fuel type, the global power boiler market has been segmented into coal, gas, and oil.
Access Report Details @ https://www.marketresearchfuture.com/reports/power-boilers-market-1795
The major players profiled in this MRFR report are Siemens AG, Hangzhou Boiler Group, Mitsubishi Hitachi Power System, Babcock & Wilcox, AMEC Foster Wheeler, Harbin Electric, Thermax Ltd, and Alstom.
The global power boiler market, by region, has been segmented into North America, the Middle East & Africa, Europe, South America, and Asia Pacific. Among these, Asia Pacific is likely to secure a prominent position through the forecast period. The rapid industrialization of the region is primarily expected to drive the expansion of the market. The report further suggests that Asia Pacific is anticipated to emerge as the fastest growing power boiler market globally towards the end of the assessment period.
North America and Europe are important revenue pockets and are expected to grow steadily across the projection period. The regional markets are poised to attract huge investments for upgrading existing plants and the setting up of new plants using cleaner fuel for higher efficiency.