Power Boiler Market Size, Industry Survey, Competitive Trends, Outlook and Forecasts 2019 to 2022

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Global Power Boiler Market Research Report: Forecast to 2022

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

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Copyright © 2017 Market Research Future.

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Summary As per Market Research Future (MRFR)’s assessment reveals that the global power boiler market has been projected to expand at a steady CAGR of 4% during the forecast period 2016 to 2022. Power boilers are closed vessels where water is converted to steam through heating. This steam produced is in excessive demand across different industrial processes. The global economy is expected to strengthen in the upcoming years, thus, creating more room for industrial development. This, in turn, is poised to have a favorable impact on the expansion of the power boiler market over the next couple of years.

Urban migration and rapid industrialization are catalyzing the growth of the market in developing nations. It is projected to accelerate revenue creation for the participants of the power boiler market over the next couple of years.

In addition, the support extended by the governments for the adoption of cleaner energy in power plants is another major factor responsible for the proliferation of the power boiler market. Investments are likely to flow towards the adoption of new technologies that leverage renewable sources of energy such as biomass. It is expected to expedite the development of the market. Furthermore, the efforts directed towards minimization of carbon emissions is also projected to affect the growth pattern of the power boiler market positively across the review period.

Owing to the rapid urbanization and industrialization in fast-developing countries, demand for energy is on the rise.

Power boiler is among one of solutions, which is relied upon to meet electricity requirements. The growing investment in development of new power plant is partly influencing power boilers market. Emphasis is being placed on development power plant that product energy using clean resources or resources that are restorable. Power boilers finds find application in clean coal technology plant, natural gas plants, co-generation plants among others.

Rising consumption of electricity is one of the major factors expected to drive the market growth in the forthcoming years. Most power boiler-based plants that are currently in operation are power by fossil fuels such as coal or petroleum. With the arrival of sustainable and eco-friendly solutions to power supply, popularity of power boilers has taken a considerably hit. Cost of producing energy is plays an important role in determining which methods to be used for power generation. As fossil fuel prices continue to swell, feasibility of power boiler plants deteriorates further.

However, in developing countries traditional power plants such as coal fired power plants remain the primary source, which continue to drive the demand for power boilers. Coal fired power plants are extremely common across the world as they are on of oldest methods of power generation. The aforementioned factor is having positive impact on the power boilers market.

Monitoring the market structure, this report mensurates the future growth potential of the market. It chalks the strategies of the key players in the market and aids the competitive developments like new product developments, mergers & acquisitions, joint ventures, and research & developments (R&D) in the market.

Important factors driving the global power boiler market growth include rapid industrialization & urbanization and subsequently growing demand for power. The third crucial factor driving the market is rapid industrialization & urbanization and subsequently, growing demand for power. The fourth market driving factor is heavy investment from the government in new power plants. In developed countries, governments are constructing power plants using cleaner energy from renewable sources such as biogas and biomass. Use of these sources can also drive the market.

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Copyright Š 2017 Market Research Future.

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Competitive Landscape Some of notable companies operating in the global power boilers market include Babcock & Wilcox, AMEC Foster Wheeler, Hangzhou Boiler Group, Alstom, Siemens AG¸ Thermax Ltd., Harbin Electric and Mitsubishi Hitachi Power System. A majority of the players are actively focusing on bolstering their research and development pipeline in to offer more superior products with additional features.

Market Segmentation The global power boiler market segmentation covers type, fuel type, and technology. MRFR made this segmentation to get a closer look at market trends.

By type, this market has been segmented into circulation fluidized bed, pulverized fuel, and others. Regarding fuel type, the market has been segmented into coal, gas, and oil.

Based on technology, the market has been segmented into subcritical technology, supercritical technology, and ultra-supercritical technology.

Regional Analysis On the basis of region, the market has been segmented into Europe, North America, Asia Pacific (APAC). Asia Pacific is a key market for power boilers. In addition, the region has a significant contribution to global power boiler market in terms of revenue.

The robust Industrial growth in countries such as India, China, Indonesia among others continue to provide an impetus to the market in the region. The power boilers market in APAC is expected to witness a healthy growth over the next several years. Regions such as North America and Europe are also expected to present lucrative opportunities for market players. Increased efforts to upgrade power plants and focus on development of power plants with clean technology is driving the market growth in these regions. Moreover, inclination towards use of energy generated from renewable energy is influencing the market.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

Industry Updates: In March 2019, Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has announced the use of unmanned aerial vehicles (UAVs) for easy and efficient inspection of power plant boilers. The company is set to begin offering its inspection services from April 2019.

In February 2019, the Indian arm of German conglomerate ThyssenKrupp Industries has signed a license agreement with Denmark’s Babcock & Wilcox Volund for a biomass boiler technology to be deployed in India and neighboring countries for reducing pollution substantially.

In November 2018, Andritz, Austrian technology group, has received order from India-based Toyo Engineering Corporation for the deliverance of PowerFluid Circulating Fluidized Bed boiler for a biomass power plant. The new plant is to be built in Kamisu, east of Tokyo for Obayashi Kamisu Biomass Power Generation Corporation.

In September 2018, India’s NTPC Limited, which was formerly known as National Thermal Power Corporation Limited, and Tata Chemicals Limited, an Indian global company, have selected GE Power, an American energy techniques company, for upgrading two coal-fired boilers with low nitrogen oxide (NOx) firing system. The technology is expected to reduce the reduction of carbon emissions by these companies by 40%.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.

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Copyright Š 2017 Market Research Future.