The Power Plant Boiler Market is expected to grow at a CAGR of 4.1% from 2016 to 2021. It is projected to reach USD 24.40 Billion by 2021 from an estimated value of USD 19.96 Billion in 2016. Developing countries are going through urbanization and industrialization which has led to increase in power demand. To keep up with the growing demand, governments are investing in the construction of new power plants and are upgrading the existing power plants.
Browse 55 tables and 37 figures spread through 150 Pages and in-depth TOC on "Power Plant Boiler Market, by Type (Pulverized Fuel, Circulation Fluidized Bed, Others), by Technology (Subcritical, Supercritical, Ultra-supercritical), by Fuel Type (Coal, Gas, Oil, and Others), & Region - Global Trends & Forecast to 2021"

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The Power Plant Boilers using coal as fuel are estimated to hold major share of the power plant boiler market. The coal based boiler market is primarily driven by Asian countries, namely, China and India which make up for more than 50% of the coal fuel based boilers. Coal can be easily transported through land and sea, making it a popular choice for power plants, especially in countries lacking gas or oil distribution network. Hence, developing countries are expected to witness more demand for coal fuel boilers as compared to developed countries.
Supercritical technology boilers led the power plant boiler market by contributing major share in 2015 in the market size. Supercritical technology boilers have high efficiency and low carbon and other greenhouse gas emission compared to subcritical technology boiler. This feature has led to decent demand for supercritical boilers in developing countries. Also this technology is readily available with most of the utility boiler manufacturer giving supercritical technology high growth.
The market is dominated by a few international players, which hold more than 50% share of the market. Major players include Siemens AG (Germany), Babcock & Wilcox (U.S.), GE (U.S.), and Mitsubishi Hitachi Power Systems, Ltd. (Japan). These players are expanding their market share by signing new contracts and launching new products/services/technologies in the market.

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Increasing concerns towards reducing the carbon footprints is making countries to invest in cleaner power generation sources such as wind and solar energy. However, cost of setting up an equivalent wind or solar farm requires more capital compared to similar capacity gas based or coal based power plants. Also, boilers manufacturers have introduced boilers which can burn cleaner fuels such as bio gas, bio waste, waste-to-energy, and solar thermal. The North American and European region is expected to demand such boilers during the next five years. Hence, the Power Plant Boiler Market is expected to grow at a high rate in developing countries and at a decent rate in developed countries.