Power Plant Boiler Market is projected to reach USD 24.40 Billion by 2021

The power plant boiler market is projected to reach USD 24.40 Billion by 2021. The market size was valued at USD 19.16 Billion in 2015 and is expected to grow at a CAGR of 4.1% during the forecast period.

The report covers major market players such as Siemens AG (Germany), AMEC Foster Wheeler (U.K.), Babcock & Wilcox (U.S.), GE (U.S.) along with other prominent manufacturers of power plant boilers.

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Scope of the report:

• This study estimates the global market of power plant boiler, in terms of USD till 2021
• It offers a detailed qualitative and quantitative analysis of this market
• It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market
• It covers various important aspects of the market. These include analysis of value chain, Porter’s Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the power plant boiler market.

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Developing countries are going through urbanization and industrialization which has led to increase in power demand. To keep up with the growing demand, governments are investing in the construction of new power plants and are upgrading the existing power plants. Developed countries such as U.K., U.S. and the Netherlands are setting up power plants which use cleaner fuels such as biomass, bio gas, and natural gas thereby adding to power plant boiler demand.

The power plant boilers using coal as fuel are estimated to hold major share of the power plant boiler market. The coal-based boiler market is primarily driven by Asian countries, namely, China and India which make up for more than 50% of the coal fuel-based boilers. Coal can be easily transported through land and sea, making it a popular choice for power plants, especially in countries lacking gas or oil distribution network. Hence, developing countries are expected to witness more demand for coal fuel boilers as compared to developed countries.

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Asia-Pacific is the largest market, by size, and is estimated to grow at the highest rate due to large number of power capacity expansion projects in China and India. To meet the growing demand for power, China alone is expected to add about 70 GW to 90 GW of capacity every year to its power generation sector, whereas India is expected to add about 10 GW to 20 GW every year. This has led to high demand for boilers in these countries making Asia-Pacific a lucrative market for power plant boiler manufacturers.

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