The global power plant boiler market is projected to surpass a valuation of US$ 22.7 billion by 2024 and a value of US$ 40 billion by 2034, reflecting a CAGR of 5.80% over the assessment period.
Emerging Trends in the Power Plant Boiler Market
Attributes | Key Insights |
---|---|
Estimated Global Power Plant Boiler Market Size (2024E) | US$ 22.7 billion |
Projected Power Plant Boiler Industry Value (2034F) | US$ 40 billion |
Value-based CAGR (2024 to 2034) | 5.80% |
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This section compares the Combi Boiler Market and the Residential Boiler Market. This section is dedicated to different markets closely associated with the power plant boiler industry. A common driver influencing these markets is the surge in demand for electricity. Additionally, constant technological advancements are anticipated to raise the revenue share of these markets.
Power Plant Boiler Market:
Attributes | Power Plant Boiler Market |
---|---|
CAGR (2024 to 2034) | 5.80% |
Growth Factor | Growing electricity demand |
Opportunity | Strict environmental laws are raising the use of cleaner fuels. Consequently, this is expected to increase the demand for boilers particularly designed for them. |
Key Trends | Innovations in boiler technology |
Combi Boiler Market:
Attributes | Combi Boiler Market |
---|---|
CAGR (2024 to 2034) | 4.40% |
Growth Factor | Growing demand for heating solutions in an affordable price range |
Opportunity | Rise in government initiatives and regulations to promote energy-efficient heating solutions |
Key Trends | Rapid advancements in combi boiler technology |
Residential Boiler Market:
Attributes | Residential Boiler Market |
---|---|
CAGR (2024 to 2034) | 5.50% |
Growth Factor | Rise in residential construction activities |
Opportunity | Growing demand for natural gas-fueled home boilers |
Key Trends | Increasing popularity of high-efficiency condensing boiler |
In countries like the United States, China, and the United Kingdom, investments in power plant boilers are expected to increase at a moderate pace. New upgrade projects and demand for efficient power plant boilers are expected to fuel market growth in these countries.
In Japan and South Korea, the market demand is anticipated to be sluggish. Key growth factors in these countries include boilers that deploy renewable fuels and increasing upgrades and replacements in existing power plant boilers.
Countries | Forecast CAGR (2024 to 2034) |
---|---|
United States | 6.10% |
United Kingdom | 6.60% |
China | 6.80% |
Japan | 4.40% |
South Korea | 2.90% |
In the United States, the revenue generation by power plant boiler companies is expected to total up to US$ 7.2 billion by 2034. As per the latest estimations, the market is anticipated to register a CAGR of 6.1% over the forecast period. The top factors enhancing market growth are:
The market for power plant boilers in China is poised to achieve a revenue worth US$ 6.7 billion by 2034. Through 2034, the market is anticipated to record a CAGR of 6.8%. Key factors that are impelling market growth are:
The United Kingdom power plant boiler industry is estimated to acquire a value of US$ 1.6 billion by 2034. The market is projected to expand at a CAGR of 6.6% throughout the forecast period. The demand is expected to be driven by the following factors:
The power plant boiler industry in Japan is projected to expand at a CAGR of 4.4% over the forecast period. By 2034, the market is anticipated to be valued at US$ 3.5 billion. Some common factors that are driving the market growth are:
The South Korea market is anticipated to expand at a CAGR of 2.9% in the next ten years. By 2034, the market is slated to attain a revenue of US$ 1.5 billion. The market is anticipated to be propelled by the following aspects:
Historical CAGR % (2019 to 2023) | 7.30% |
---|---|
Forecast CAGR % (2024 to 2034) | 5.50% |
The recent power plant boiler market analysis shows that the subcritical technology is estimated to register a 5.50% CAGR over the forecast period. The main factors that are boosting the segment growth are:
Historical CAGR % (2019 to 2023) | 7.10% |
---|---|
Forecast CAGR % (2024 to 2034) | 5.30% |
According to estimates, the coal segment in the power plant boiler market is anticipated to experience a CAGR of 5.30% over the forecast period. Even though the overall trend for coal shows a prominent decline, from a historical CAGR of 7.1% to 5.30% CAGR estimated for the forecast period, certain factors keep the demand for coal in power plant boilers consistent.
Recent Developments
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The power plant boiler market is valued at US$ 22.7 billion in 2024.
Throughout the forecast period, the power plant boiler industry is projected to register a CAGR of 5.80%.
By 2034, the power plant boiler industry is anticipated to be worth US$ 40 billion.
China is expected to observe significant market growth.
Subcritical technology is projected to thrive at a prominent pace.
Key power plant boiler industry players include Babcock & Wilcox Enterprise, Mitsubishi Hitachi Power Systems, Siemens AG, and Doosan Heavy Industries & Construction.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2024 to 2034
5.3.1. Subcritical
5.3.2. Supercritical
5.3.3. Ultra-supercritical
5.4. Y-o-Y Growth Trend Analysis By Technology, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Technology, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Fuel Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Fuel Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Fuel Type, 2024 to 2034
6.3.1. Coal
6.3.2. Nuclear
6.3.3. Gas
6.3.4. Oil
6.4. Y-o-Y Growth Trend Analysis By Fuel Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Fuel Type, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Capacity, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Capacity, 2024 to 2034
7.3.1. Below 400 MW
7.3.2. 400-800 MW
7.3.3. Above 800 MW
7.4. Y-o-Y Growth Trend Analysis By Capacity, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Capacity, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Technology
9.2.3. By Fuel Type
9.2.4. By Capacity
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Technology
9.3.3. By Fuel Type
9.3.4. By Capacity
9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Technology
10.2.3. By Fuel Type
10.2.4. By Capacity
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Technology
10.3.3. By Fuel Type
10.3.4. By Capacity
10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Technology
11.2.3. By Fuel Type
11.2.4. By Capacity
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Technology
11.3.3. By Fuel Type
11.3.4. By Capacity
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Technology
12.2.3. By Fuel Type
12.2.4. By Capacity
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Technology
12.3.3. By Fuel Type
12.3.4. By Capacity
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Technology
13.2.3. By Fuel Type
13.2.4. By Capacity
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Technology
13.3.3. By Fuel Type
13.3.4. By Capacity
13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Technology
14.2.3. By Fuel Type
14.2.4. By Capacity
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Technology
14.3.3. By Fuel Type
14.3.4. By Capacity
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Technology
15.2.3. By Fuel Type
15.2.4. By Capacity
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Technology
15.3.3. By Fuel Type
15.3.4. By Capacity
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2023
16.1.2.1. By Technology
16.1.2.2. By Fuel Type
16.1.2.3. By Capacity
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2023
16.2.2.1. By Technology
16.2.2.2. By Fuel Type
16.2.2.3. By Capacity
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2023
16.3.2.1. By Technology
16.3.2.2. By Fuel Type
16.3.2.3. By Capacity
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2023
16.4.2.1. By Technology
16.4.2.2. By Fuel Type
16.4.2.3. By Capacity
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2023
16.5.2.1. By Technology
16.5.2.2. By Fuel Type
16.5.2.3. By Capacity
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2023
16.6.2.1. By Technology
16.6.2.2. By Fuel Type
16.6.2.3. By Capacity
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2023
16.7.2.1. By Technology
16.7.2.2. By Fuel Type
16.7.2.3. By Capacity
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2023
16.8.2.1. By Technology
16.8.2.2. By Fuel Type
16.8.2.3. By Capacity
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2023
16.9.2.1. By Technology
16.9.2.2. By Fuel Type
16.9.2.3. By Capacity
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2023
16.10.2.1. By Technology
16.10.2.2. By Fuel Type
16.10.2.3. By Capacity
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2023
16.11.2.1. By Technology
16.11.2.2. By Fuel Type
16.11.2.3. By Capacity
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2023
16.12.2.1. By Technology
16.12.2.2. By Fuel Type
16.12.2.3. By Capacity
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2023
16.13.2.1. By Technology
16.13.2.2. By Fuel Type
16.13.2.3. By Capacity
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2023
16.14.2.1. By Technology
16.14.2.2. By Fuel Type
16.14.2.3. By Capacity
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2023
16.15.2.1. By Technology
16.15.2.2. By Fuel Type
16.15.2.3. By Capacity
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2023
16.16.2.1. By Technology
16.16.2.2. By Fuel Type
16.16.2.3. By Capacity
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2023
16.17.2.1. By Technology
16.17.2.2. By Fuel Type
16.17.2.3. By Capacity
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2023
16.18.2.1. By Technology
16.18.2.2. By Fuel Type
16.18.2.3. By Capacity
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2023
16.19.2.1. By Technology
16.19.2.2. By Fuel Type
16.19.2.3. By Capacity
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2023
16.20.2.1. By Technology
16.20.2.2. By Fuel Type
16.20.2.3. By Capacity
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2023
16.21.2.1. By Technology
16.21.2.2. By Fuel Type
16.21.2.3. By Capacity
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2023
16.22.2.1. By Technology
16.22.2.2. By Fuel Type
16.22.2.3. By Capacity
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2023
16.23.2.1. By Technology
16.23.2.2. By Fuel Type
16.23.2.3. By Capacity
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Technology
17.3.3. By Fuel Type
17.3.4. By Capacity
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. General Electric (USA)
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.1.5.2. Product Strategy
18.1.1.5.3. Channel Strategy
18.1.2. Babcock & Wilcox Enterprise (USA)
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.2.5.2. Product Strategy
18.1.2.5.3. Channel Strategy
18.1.3. Mitsubishi Hitachi Power Systems (Japan)
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.3.5.2. Product Strategy
18.1.3.5.3. Channel Strategy
18.1.4. Siemens AG (Germany)
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.4.5.2. Product Strategy
18.1.4.5.3. Channel Strategy
18.1.5. Doosan Heavy Industries & Construction (South Korea)
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.5.5.2. Product Strategy
18.1.5.5.3. Channel Strategy
18.1.6. Dongfang Electric Corporation (China)
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.6.5.2. Product Strategy
18.1.6.5.3. Channel Strategy
18.1.7. IHI Corporation (Japan)
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.7.5.2. Product Strategy
18.1.7.5.3. Channel Strategy
18.1.8. John Wood Group (UK)
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.8.5.2. Product Strategy
18.1.8.5.3. Channel Strategy
18.1.9. Bharat Heavy Electrical Limited (India)
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.9.5.2. Product Strategy
18.1.9.5.3. Channel Strategy
18.1.10. Thermax (India)
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.10.5.2. Product Strategy
18.1.10.5.3. Channel Strategy
18.1.11. Andritz Group (Austria)
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.11.5.2. Product Strategy
18.1.11.5.3. Channel Strategy
18.1.12. Sumitomo Heavy Industries (Japan)
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
18.1.12.5.2. Product Strategy
18.1.12.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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