Power Boilers Market is projected to be worth USD 34870.784 Mn by 2030, registering a CAGR of 4.0% during the forecast period (2022 - 2030),
Power boilers market is expected to register a CAGR of about 4.0% through 2022-2030.
Power Boiler is basically a closed vessel into which water is heated until the water is converted to steam. The steam produced by the power boiler, transferred through piping to number of applications. In developing countries, due to rapid industrialization & urbanization, demand for the power is increases considerably. To meet this demand, government is heavily investing in new power plants which will drive the Power Boilers Industry. In developed countries, government is constructing the power plants using cleaner energy such as biomass power, biogas which is another driving factor for the market.
The leading players in the Power boilers markets are Siemens AG, Babcock & Wilcox, Mitsubishi Hitachi Power System, AMEC Foster Wheeler, Thermax Ltd, Harbin Electric, Hangzhou Boiler Group, and Alstom.
Study Objectives of Power boilers Market
Regional Analysis of Power boilers
Asia-Pacific region is a major contributor to the market because rapid industrialization in countries like China, India increases the demand for Power boiler. It is expected to grow at high rate and retain its majority by 2022. North America & Europe Power Boilers market is expected to grow at a decent rate. They are upgrading their existing power plants and setting up new cleaner fuel burning power plants to get more efficiency.
Global Power boilers Market, By Region, 2030 (USD billion)
The report covers brief analysis of country level market information –
Middle East & Africa
The report for Global Power boilers Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030 : USD 34870.784 Mn|
|CAGR||4.0% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Technology, Fuel Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Siemens AG, Babcock & Wilcox, Mitsubishi Hitachi Power System, AMEC Foster Wheeler, Thermax Ltd, Harbin Electric, Hangzhou Boiler Group, and Alstom|
|Key Market Opportunities||Government is constructing the power plants using cleaner energy|
|Key Market Drivers||
The global power boilers market is expected to record a substantial market valuation due to the increasing urbanization, demand for power, among others.
The global power boilers market is projected to register a moderate 4.0% CAGR in the forecast period.
The gas segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global power boilers market are Siemens AG, Babcock & Wilcox, Mitsubishi Hitachi Power System, among others.
The pulverized fuel segment is slated to expand as the fastest-growing segment.