Power Plant Boiler Market Size, Share, and Growth Analysis, By Process, By Technology, By Fuel Type, By Boiler Type, By Capacity, By Application, By Region - Industry Forecast 2025-2032
Doosan Heavy Industries & Construction(South Korea)
Dongfang Electric Corporation Limited(China)
IHI Corporation(Japan)
John Wood Group PLC(UK)
Bharat Heavy Electricals Limited(BHEL)(India)
Thermax Limited(India)
Andritz AG(Austria)
Sumitomo Heavy Industries, Ltd.(Japan)
Harbin Electric Company Limited(China)
Alfa Laval AB(Sweden)
Cleaver-Brooks, Inc.(USA)
Sofinter S.p.A.(Italy)
Byworth Boilers Ltd.(UK)
Robert Bosch GmbH(Bosch)(Germany)
Foster Wheeler(Part of Wood Group)(UK)
Kawasaki Heavy Industries, Ltd.(Japan)
°á·Ð°ú Á¦¾È
LSH
¿µ¹® ¸ñÂ÷
¿µ¹®¸ñÂ÷
Global Power Plant Boiler Market size was valued at USD 49.2 billion in 2023 and is poised to grow from USD 57.96 billion in 2024 to USD 214.92 billion by 2032, growing at a CAGR of 17.8% during the forecast period (2025-2032).
The global power plant boiler market is anticipated to experience significant growth driven by surging energy demand propelled by population growth, industrialization, and urbanization. Increased investment in renewable energy sources and stringent emissions regulations are set to further enhance market dynamics. Governments are likely to increase their energy generation capacities to support economic growth, further boosting demand for power plant boilers. Moreover, the expansion of cogeneration plants aimed at improving industrial efficiency will contribute positively to market prospects. However, challenges such as high initial installation and maintenance costs, the transition away from coal-based energy, environmental concerns related to air pollution, and disruptions in fuel supply chains may impede market growth. Overall, the outlook remains optimistic, with numerous drivers supporting the sector's advancement.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Power Plant Boiler market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Power Plant Boiler Market Segments Analysis
Global Power Plant Boiler Market is segmented by Process, Technology, Fuel Type, Boiler Type, Capacity, Application and region. Based on Process, the market is segmented into Pulverized fuel combustion, Fluidized bed combustion and Others. Based on Technology, the market is segmented into Subcritical, Supercritical and Ultra-critical. Based on Fuel Type, the market is segmented into Coal-fired boilers, Gas-fired boilers, Oil-fired boilers, Biomass-fired boilers and Waste-to-energy boilers. Based on Boiler Type, the market is segmented into Drum boilers, Once-through boilers, Circulating fluidized bed boilers, Bubbling fluidized bed boilers and Stoker-fired boilers. Based on Capacity, the market is segmented into Less than 100 MW, 100-500 MW, 500-1,000 MW, 1,000-2,000 MW and Over 2,000 MW. Based on Application, the market is segmented into Power generation, Industrial steam, District heating, Cogeneration and Waste-to-energy. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Power Plant Boiler Market
The global power plant boiler market is being significantly driven by the swift rise in urbanization and industrialization, which in turn is fueling the demand for electricity worldwide. As governments and private entities invest in the establishment of new energy generation facilities to keep pace with this escalating energy requirement, the market for power plant boilers is poised for substantial growth. This surge in energy infrastructure development reflects a broader commitment to addressing energy needs, ultimately enhancing the market's potential. The increased focus on sustainable energy solutions further supports the positive outlook for power plant boilers on a global scale.
Restraints in the Global Power Plant Boiler Market
The Global Power Plant Boiler market faces significant constraints due to the prevalent reliance on coal as a primary fuel source. Growing public awareness surrounding issues such as air pollution, climate change, and greenhouse gas emissions is influencing a shift in energy policies. As governments and policymakers increasingly hesitate to endorse fossil fuel-based power generation, the market for power plant boilers is likely to experience a downturn. This shift towards cleaner and more sustainable energy alternatives poses considerable challenges for traditional boiler manufacturers, as they must adapt to evolving regulatory frameworks and changing consumer preferences for greener solutions.
Market Trends of the Global Power Plant Boiler Market
The Global Power Plant Boiler market is increasingly witnessing the integration of smart monitoring systems, driven by advancements in Internet of Things (IoT), artificial intelligence (AI), and machine learning technologies. This trend aims to enhance operational efficiency and reduce downtime, as smart sensors facilitate real-time monitoring and predictive maintenance. As power plant boiler companies adopt these cutting-edge technologies, they gain a competitive edge by optimizing performance and minimizing operational costs. This growing emphasis on digital transformation not only ensures better resource management but also aligns with global sustainability goals, marking a significant shift in market dynamics and future growth opportunities within the sector.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Power Plant Boiler Market Size by Process & CAGR (2025-2032)
Market Overview
Pulverized fuel combustion
Fluidized bed combustion
Others
Global Power Plant Boiler Market Size by Technology & CAGR (2025-2032)
Market Overview
Subcritical
Supercritical
Ultra-critical
Global Power Plant Boiler Market Size by Fuel Type & CAGR (2025-2032)
Market Overview
Coal-fired boilers
Gas-fired boilers
Oil-fired boilers
Biomass-fired boilers
Waste-to-energy boilers
Global Power Plant Boiler Market Size by Boiler Type & CAGR (2025-2032)
Market Overview
Drum boilers
Once-through boilers
Circulating fluidized bed boilers
Bubbling fluidized bed boilers
Stoker-fired boilers
Global Power Plant Boiler Market Size by Capacity & CAGR (2025-2032)
Market Overview
Less than 100 MW
100-500 MW
500-1,000 MW
1,000-2,000 MW
Over 2,000 MW
Global Power Plant Boiler Market Size by Application & CAGR (2025-2032)
Market Overview
Power generation
Industrial steam
District heating
Cogeneration
Waste-to-energy
Global Power Plant Boiler Market Size & CAGR (2025-2032)
North America (Process, Technology, Fuel Type, Boiler Type, Capacity, Application)
US
Canada
Europe (Process, Technology, Fuel Type, Boiler Type, Capacity, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Process, Technology, Fuel Type, Boiler Type, Capacity, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Process, Technology, Fuel Type, Boiler Type, Capacity, Application)
Brazil
Rest of Latin America
Middle East & Africa (Process, Technology, Fuel Type, Boiler Type, Capacity, Application)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
General Electric (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Babcock & Wilcox Enterprises (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Siemens AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Doosan Heavy Industries & Construction (South Korea)