Utility Boiler Market Analysis

Utility Boiler Market Analysis

30-100 MW utility boiler market is anticipated to witness robust growth on account of escalating demand for electricity across Asia Pacific and Africa. Ongoing industrial sector investments coupled with increasing thermal power generation capacity in key economies will further drive the demand for these products. Major industrial centers across the globe are shifting toward captive power generation, which will further enhance the business growth.
 

100-250 MW boilers accounted for over 7% of the global market revenue. Respective governments across the emerging economies are focusing toward enhancing the manufacturing capabilities and reliability of electricity supply, which will in turn boost the installation of high capacity boilers. Ongoing shift toward diversification of power generation energy mix across Middle East & Africa region has further propelled the industry growth.
 

>500 MW utility boiler market will witness a strong growth on account of the continued expansion of thermal electricity generation coupled with strengthening demand for the replacement of subcritical generation technologies. Introduction of stringent norms to curb carbon emissions coupled with efforts to enhance the electricity generation quality with conformance to emission compliance norms will promote the deployment of high capacity supercritical & ultra-supercritical boilers.
 

Supercritical boilers, in 2017, accounted for over 40% of the global utility boiler market share. Ever increasing demand for electricity across emerging economies along with its ability to generate more power at a comparative low cost will positively impact the business growth.
 

Ultra-supercritical boilers market size will witness growth on account of strengthening government measures toward limiting GHG emissions along with retrofitting the existing power generating stations. In addition, the ability of these boilers to offer high thermal efficiency along with lower NOx, SOx and COx emissions will propel the product penetration in coming years.
 

Asia Pacific market will witness an appreciable growth on account of rising electricity demand primarily across Vietnam, Indonesia, Bangladesh, Mongolia and Malaysia. Furthermore, the easy availability of coal, rapid industrialization, growing population and lack of regulatory framework in many countries are some of the prominent features supporting the industry growth. Utility boiler market across India and China is anticipated to witness decline on account of limited expansion of thermal power generation beyond 2020 and renewed focus toward renewable energy utilization. The market size boiler in the U.S. is poised to cross USD 5.7 billion valuation by 2032.
 

Europe market size is anticipated to witness growth of over 30% by 2024. Growing efforts toward energy conservation coupled with adoption of energy efficient power generating technologies will drive the business growth. Poland, Turkey, and Czech Republic are some of the key economies with significant investment toward new power generating capacity additions. However, aggressive renewable energy policies coupled with shift toward gas fired generation will limit the product adoption across Western Europe.
 

Middle East & Africa market is set to witness gains over 70% by 2024. Government focus toward diversification of energy mix along with increasing foreign investment toward development of captive power plants will drive the business growth. Furthermore, government measures toward electrification and mitigating electricity supply demand gap will further complement the industry landscape.