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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