Boilers are closed vessels used for generation of steam by supplying heat energy to water. Various kinds of energy sources such as fossil fuels, nuclear fuels, biomass and solar energy are used to generate steam. Boilers can be divided into two types based on their process as water-tube and fire-tube boilers. In water-tube boilers, tubes filled with water are heated using combustion gases flowing outside the tubes, whereas in fire tube boilers, hot combustion gases flowing inside the tubes are used to heat the water that flows outside the tubes.
Further, boilers are categorized as utility boilers and industrial boilers based on their respective applications. Utility boilers are used to produce steam by burning fossil fuels such as coal for generation of electricity. Industrial boilers are used for generation of steam for industrial processes in industries such as automotive, oil and gas, paper and wood, and other heavy industries.
The utility and energy boiler market is booming with the growing demand for energy and increasing number of power plants installation in developing countries such as China, India and others. Generation of electricity is highly dependent on fossil fuels. Moreover, less capital investments required on fossil fuels based power plants as compared to renewable energy plants has significantly increased the demand for boilers in recent years. Moreover, lucrative government incentive programs are pushing the demand for advanced utility and energy boilers in new thermal power stations.
Geographically, North America dominates the utility and energy boilers market with rising demand for power generation. Additionally, growing oil and gas industry in this region is another factor driving the growth of utility and industrial boilers market. In Europe, countries such as Italy, France, Finland, Germany and Poland show high demand for utility and industrial boilers market with rising demand from automotive and power generation industries. Asia-Pacific is expected to be the fastest growing market for utility and industrial boilers in near future. The increasing demand for power generation due to growing population and rapid industrialization is a major factor contributing to the demand for utility boilers in this region.
Rising industries in countries such as China, Japan, India and others is increasing the demand for industrial boilers. Moreover, Asia-Pacific is expected to dominate the demand for advanced utility boilers, which is a fast emerging technology for efficient operation of boilers. In Rest of the World (RoW), with increasing industries in energy sector, countries such as Russia and Brazil are expected to show healthy growth in utility and industrial boilers market in near future.
Some of the key manufacturers of utility and industrial boilers are Hitachi Ltd., Foster Wheeler AG and Alstom SA. Other manufacturers of utility and industrial boilers include AB & Co., ANDRITZ Energy and Environment GmbH, Bharat Heavy Electricals Ltd., B & S Piping Inc., Harbin Power Equipment Co. Ltd., Hangzhou Indeck Power Equipment Co., Boiler Group Co. Ltd., Miura Boiler Inc., Mitsubishi Heavy Industries Ltd., Tai Yuan Boiler Group Co. Ltd., Suzhou Hailu Heavy Industries Co. Ltd., The Babcock and Wilcox Co., Thermogenics (UK) Ltd., Wellman Group and TT Boilers Ltd., among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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