Utility Boiler Market Size

Utility Boiler Market Size

Utility Boiler Market size was valued over USD 20 billion in 2017 and annual installation is anticipated to exceed 60 GW by 2024.

Increasing demand for reliable and continuous electricity supply from developing economies has resulted in increasing investment toward generation capacity additions which in turn will positively influence the market size. Deployment of captive power plants across large industries including chemical, refining, pulp & paper and cement will further support the business growth. Rapid industrialization coupled with growing urbanization across emerging economies has significantly boosted the electricity demand which will stimulate the market growth. South East Asia, Africa and Central & Eastern Europe are some of the key regions with significant investment toward new thermal power generation technologies.

Utility boiler industry across key developing economies is anticipated to witness positive growth owing to rising deployment of supercritical and ultra-supercritical power plants. However, utility boiler market is set to witness sharp decline across developed economies on account of declining installation of coal fired power generation units with a shift toward gas fired generation. Policy makers across the globe are focused toward achieving optimum energy mix to promote the renewable energy technologies and maintain the reliability of electricity supply. Government measurers to limit the carbon emission from power stations will further impede the business growth.