Global Power Plant Boiler Market: Overview
The demand for power has considerably increased around the world. The rapid urbanization and industrialization displayed by emerging nations has also fuelled the demand for power. To cater to this growing demand, government institutions are heavily investing in the construction of new power plants and upgrading existing ones. In countries such as the U.S., the Netherlands, and the U.K., authorities have been focusing on alternate and cleaner fuel sources such as biogas, biomass, and natural gas, thus aiding the expansion of the power plant boilers market across developed nations.
A power plant boiler is a machine that produces steam by applying heat energy to water. A boiler is used in industries that need steam for various operations. The form and size of these boilers to be installed depend on their purpose or application. Boilers for use in industrial installation and power stations are usually larger and are connected to point-of-use piping.
The report presents a holistic overview of the global power plant boiler market. It studies the various factors that are expected to influence the market’s growth trajectory between 2016 and 2024. To update stakeholders on the prevailing market dynamics, the report also examines the market’s attractiveness, investment feasibility, and the potential impact of Porter’s five forces. For the purpose of the study, the report segments the global power plant boiler market in terms of type, fuel type, technology, and geography.
Global Power Plant Boiler Market: Key Opportunities and Threats
The most common types of power plant boilers that find application across industries include multi-tube boilers, circulating fluidized boilers, pulverized boilers, and others. By fuel type, a power plant boiler can be classified as coal-based, gas-based, or oil-based.
The power generation mix in almost every major country today is dominated by coal. This is because the cost incurred on setting up a coal-based power plant is comparatively lower than that incurred on power plants that operate on other fuels. The easy availability of coal in several countries and convenience in transporting it between locations have prompted industries to invest in coal-based power plants. Hence, the pulverized fuel boiler is the most extensively installed boiler type worldwide.
Both India and China have a large number of coal-based power plant projects, owing to which, the growth exhibited by the pulverized fuel boiler segment will be considerably high in these countries. By technology, supercritical boilers demonstrate better efficiency than subcritical boilers and ensure lesser emission of greenhouse gases. This facilitates technological advancements in the former and hence results in the higher installation of supercritical boilers than other power plant boilers (based on technology).
However, during the forecast period, the demand for ultra-supercritical boilers is anticipated to increase at the fastest pace. Due to the introduction of the latest technologies, ultra-supercritical boilers are superior in terms of efficiency and boast lower emissions.
The market is also expected to gain from the rapid industrialization in India, China, and other developing countries. Asia Pacific will therefore exhibit lucrative opportunities for companies operating in the global power plant boiler market. Other regions exhibiting attractive prospects in the power plant boilers market include North America, Europe, and Rest of the World.
Global Power Plant Boiler Market: Competitive Insight
To study the competition prevailing in the market, the report also profiles some of the leading vendors operating therein. The most prominent companies profiled in the report are AMEC Foster Wheeler, Siemens AG, Babcock & Wilcox, and others. These companies are studied on the basis of their financial overview, strategies adopted, development status, and product portfolio.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.