Market overview:
The power plant boiler is a type of machine that is used to generate heat by using thermal energy from water to generate electricity. These boilers are used in many industries depending on the applications.

Recent developments:
A division of Babcock and Wilcox was awarded a $ 5 million contract to install boiler modernization equipment at a coal-fired power plant in the United States.

Market Drivers and Restrains:
The increasing demand for industrialization and urbanization around the world is the vital factor to intensify the growth of the market, more and more government organizations are investing in the modernization and development of new power plants in response to a growing need from consumers, increasing technological advancements such as the introduction of supercritical technology boilers, the increasing demand for natural gas in power generation, the increased availability of crude oil reserves in the Middle East and the increasing reliance on electronic devices such as smartphones, smart automation and others are the main factors, among others, in the power of the industrial boiler market. However, growing concerns about the high cost of implementation and fluctuating raw material prices are the main factors, among others, acting as constraints, and will further test the growth of the power plant boiler market during the forecast period mentioned above.

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https://www.marketdataforecast.com/market-reports/power-plant-boiler-market

Report is segmented as:
By Type:
• Pulverized coal towers
• CFB
• Others
By Technology:
• Subcritical
• Supercritical
• Ultra supercritical
By Fuel type:
• Coal
• Gas
• Oil

Geographical Segmentation:
Asia-Pacific accounted for the majority of the power plant boiler market in 2019. The region was segmented, by country, into China, Japan, India, and the rest of Asia-Pacific. China is the world's largest energy consumer. To meet the growing demand for electricity, the country is investing heavily in the establishment of new power plants in all provinces to guarantee a stable electricity supply to its industries.

Impact of COVID-19 on Power Plant Boiler Market:
COVID-19 has currently slowed the growth of the electrical industry. This is mainly due to the fact that more and more countries are turning to containment measures at the national level to prevent further spikes in the spread of the disease. This slowdown is mainly due to economic contractions, which have resulted in reduced demand for electricity from various end-user industries. With the decrease in demand for electricity, it is estimated that there would be very negligible investments by the utility companies to replace the outdated electrical infrastructure. In addition, large energy projects should be halted or delayed. For example, in India about 40% of electricity demand is generated by industrial and commercial establishments and represents a higher percentage of billing. In addition, according to the IEA, electricity demand has fallen by more than 20% during periods of total containment in several countries, due to the reduction of commercial and industrial operations. Furthermore, the demand for various fuel sources, such as coal, gas and nuclear power, which generate electricity, fell during the lockdown period.

Key market players:
Babcock & Wilcox Enterprise (US), Dongfang Electric Corporation (China), Doosan Heavy Industries & Construction (Korea), General Electric (US), and Mitsubishi Hitachi Power Systems (Japan) are the leading players in the power plant boiler market. Siemens, IHI Corporation, John wood Group, Bharat Heavy Electrical Limited, Thermax, Andritz Group, Sumitomo Heavy Industries, Valmet, and Harbin Electric are other players operating in the market are the leading players in the global power plant boiler market.