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    Utility Boiler Market Report

    Utility Boiler Market Report
    Report code - SR1900 Delivery - 2 Weeks
    Utility Boiler Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppor See more...

    Market Insights

    Utility boilers are large capacity steam generators used only for the production of electricity. Utility boilers are taken in use for increasing electricity production in order to fulfil energy demand. As carbon emission norms tighten in various developed countries around the world, carbon emissions can be reduced by making better use of available coal by using an advanced model of a utility boiler.

    Utility Boilers Market – Snapshot

    CAGR

    2.0%

    Major Capacity Type

    30-100 MW Utility Boiler

    Major Technology Type

    Supercritical Boilers

    Region with the highest demand

    Asia-Pacific

    Key Players

    Babcock and Wilcox Enterprises, Inc., IHI Corporation, The CMI Group, Doosan Heavy Industries & Construction Co., Ltd., Mitsubishi Hitachi Power Systems, General Electric, Siemens AG, AC Boilers S.p.A., Wood Plc (Amec Foster Wheeler Plc), and Thermax Ltd.

     

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    Restrictions on social and economic activities during the COVID-19 outbreak in 2020, led to a debilitating and sustained decline in demand for electricity in many countries. This created grave challenges for both electricity generators and system operators. The utility boiler market suffered a slow growth in 2020 as challenges such as supply chain disruption, cash flow constraints, and temporary shutdown in production facilities arose.

    Growing demand for reliable and continuous electricity supply from developing economies, rapid industrialization paired with rising urbanization across emerging economies are some of the major factors driving the utility boiler market's recovery and growth. The deployment of supercritical and ultra-supercritical power plants is also on the rise. As a result of these factors, the utility boiler market is expected to grow at a CAGR of more than 2.0% during the forecast period.

    Market Segments' Analysis

    Based on the capacity type, the market is segmented as 30-100 MW, 100-250 MW, 250-500 MW, and > 500 MW. The 30-100 MW utility boiler market is likely to maintain its dominance in the foreseen future. Ongoing investments in the industrial sector coupled with increasing thermal power generation capacity in key economies is expected to push the demand for these products. The >500 MW utility boiler market, on the other hand, is estimated to record significant growth during the forecast period. Introduction of stricter norms to control carbon emissions together with efforts to augment the electricity generation quality with conformance to emission compliance norms is expected to promote the distribution of high capacity supercritical and ultra-supercritical boilers.

    Based on the technology type, the market is segmented as subcritical, supercritical, and ultra-supercritical. Among these technology types, supercritical boilers are likely to remain the largest segment of the utility boiler market over the forecast period, owing to their capability to generate extra power at a reasonable cost, paired with the ever-growing demand for electricity across emerging economies. On the other hand, ultra-supercritical boilers are anticipated to witness significant growth as a result of government measures aimed at reducing GHG emissions.

    In terms of regions, Asia-Pacific is expected to remain the largest market for utility boilers over the forecast period. The rising electricity demand, easy accessibility of coal, rapid industrialization, and increasing population are some of the factors that are driving the demand for utility boilers in the region. Also, Europe is anticipated to witness the fastest growth during 2022-2027, owing to the growing efforts toward energy conservation and the adoption of energy-efficient power generating technologies in the region.

    Key Players

    Most of the companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain competitive advantage. The following are some of the key players in the utility boiler market:

    • Babcock and Wilcox Enterprises, Inc.
    • IHI Corporation
    • The CMI Group
    • Doosan Heavy Industries & Construction Co., Ltd.
    • Mitsubishi Hitachi Power Systems

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s utility boiler market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The utility boiler market is segmented into the following categories:

    Utility Boiler Market, by Capacity Type

    • 30-100 MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • 100-250 MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • 250-500 MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • > 500 MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Utility Boiler Market, by Technology Type

    • Subcritical (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Supercritical (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Ultra-Supercritical (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Utility Boiler Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The utility boiler market is estimated to grow at a healthy CAGR of more than 2.0% over the next five years. Growing demand for reliable and continuous electricity supply, rapid industrialization and rising urbanization are some of the major factors expected to drive the growth of the market in the coming five years.

    Babcock and Wilcox Enterprises, Inc., IHI Corporation, The CMI Group, Doosan Heavy Industries & Construction Co., Ltd., Mitsubishi Hitachi Power Systems, General Electric, Siemens AG, AC Boilers S.p.A., Wood Plc (Amec Foster Wheeler Plc), and Thermax Ltd are some of the key players in the market.

    Asia-Pacific is estimated to be dominant in the utility boiler market in the coming years. The rising electricity demand, easy accessibility of coal, rapid industrialization, and increasing population are some of the factors that drive the overall regions market dynamics.

    Europe is estimated to grow at the fastest rate in the coming five years, owing to the growing efforts toward energy conservation coupled with the adoption of energy-efficient power generating technologies in the region.

    Supercritical technology is likely to maintain its dominance in the market in the next five years on account of its capability to generate extra power at a reasonable cost and the ever-growing demand for electricity in the region.