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Power Plant Boiler Market, By Process, By Technology, By Fuel, By Geography
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Siemens AG
Mitsubishi Hitachi Power Systems
Babcock & Wilcox Enterprises, Inc.
Alstom SA
Foster Wheeler AG
Doosan Heavy Industries & Construction
Thermax Limited
Hitachi, Ltd.
Burns & McDonnell
Veolia Environnement S.A.
Hurst Boiler & Welding Company, Inc.
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Babcock International Group
SPX Corporation
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Power Plant Boiler Market is estimated to be valued at USD 24.51 Bn in 2025 and is expected to reach USD 36.13 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 24.51 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.70%
2032 Value Projection:
USD 36.13 Bn
The global power plant boiler market represents a critical component of the worldwide energy infrastructure, encompassing sophisticated steam generation systems designed to convert water into high-pressure steam for electricity production across thermal power plants. These industrial-grade boilers serve as the heart of fossil fuel, biomass, and waste-to-energy power generation facilities, playing an indispensable role in meeting growing global electricity demands.
Market Dynamics
The global power plant boiler market is driven by several compelling factors that collectively fuel its sustained growth trajectory across diverse geographical regions. The primary driver stems from escalating global electricity demand, particularly in emerging economies where rapid industrialization, urbanization, and improving living standards are creating unprecedented energy consumption patterns, necessitating substantial investments in new power generation capacity and infrastructure modernization initiatives.
Key Features of the Study
This report provides in-depth analysis of the global power plant boiler market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global power plant boiler market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include General Electric Company, Siemens AG, Mitsubishi Hitachi Power Systems, Babcock & Wilcox Enterprises, Inc., Alstom SA, Foster Wheeler AG, Doosan Heavy Industries & Construction, Thermax Limited, Hitachi, Ltd., Burns & McDonnell, Veolia Environnement S.A., Hurst Boiler & Welding Company, Inc., ANDRITZ AG, Babcock International Group, and SPX Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global power plant boiler market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global power plant boiler market
Market Segmentation
Process Insights (Revenue, USD Bn, 2020 - 2032)
Pulverized fuel combustion
Fluidized bed combustion
Others
Technology Insights (Revenue, USD Bn, 2020 - 2032)
Subcritical
Supercritical
Ultra-critical
Fuel Insights (Revenue, USD Bn, 2020 - 2032)
Petroleum
Nuclear
Natural gas
Coal
Renewables
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
General Electric Company
Siemens AG
Mitsubishi Hitachi Power Systems
Babcock & Wilcox Enterprises, Inc.
Alstom SA
Foster Wheeler AG
Doosan Heavy Industries & Construction
Thermax Limited
Hitachi, Ltd.
Burns & McDonnell
Veolia Environnement S.A.
Hurst Boiler & Welding Company, Inc.
ANDRITZ AG
Babcock International Group
SPX Corporation
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Power Plant Boiler Market, By Process
Global Power Plant Boiler Market, By Technology
Global Power Plant Boiler Market, By Fuel
Global Power Plant Boiler Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Power Plant Boiler Market, By Process, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Pulverized fuel combustion
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Fluidized bed combustion
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Power Plant Boiler Market, By Technology, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Subcritical
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Supercritical
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Ultra-critical
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Power Plant Boiler Market, By Fuel, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Petroleum
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Nuclear
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Natural gas
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Coal
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Renewables
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Power Plant Boiler Market, By Region, 2020 - 2032, Value (USD Bn)
Introduction
Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
Regional Trends
North America
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
Latin America
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, By Process, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Fuel, 2020 - 2032, Value (USD Bn)
Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
South Africa
North Africa
Central Africa
8. Competitive Landscape
General Electric Company
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Siemens AG
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Mitsubishi Hitachi Power Systems
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Babcock & Wilcox Enterprises, Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Alstom SA
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Foster Wheeler AG
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Doosan Heavy Industries & Construction
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Thermax Limited
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Hitachi, Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Burns & McDonnell
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Veolia Environnement S.A.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Hurst Boiler & Welding Company, Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
ANDRITZ AG
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Babcock International Group
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
SPX Corporation
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
9. Analyst Recommendations
Wheel of Fortune
Analyst View
Coherent Opportunity Map
10. References and Research Methodology
References
Research Methodology
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