Historical, Current and Future Market Trends.Looking forward, IMARC Group expects the global power plant boiler market to grow at a CAGR of around 4% during 2021-2026. Moreover, increasing reliance on electronic appliances such as air conditioners, microwave ovens, and washing machines has increased the energy requirements in both developing and developed nations, which is projected to boost the product demand further. Additionally, growing concerns for carbon emissions, along with an increasing demand for highly efficient energy solutions, have led to technological advancements in the manufacturing and functioning of boilers. Rapid urbanization, coupled with industrialization in the emerging countries, has further fueled the demand for power plant boilers. To meet this ever-increasing demand, governments of various nations are heavily investing in the development of existing power plants and the construction of new facilities. The rising energy demand across the globe is a key factor driving the growth of the market. The different types of power plant boilers include circulating fluidized boilers, multi-tube boilers and pulverized boilers, each having their distinct purpose and application.

The shape and size of these boilers depend upon their utility and they are primarily installed in power stations and industries with steam-based or hot water operations. Over the years, the efficiency of these boilers has increased significantly, with some systems having a fuel-to-steam efficiency as high as 90%.

The boiler is incorporated in a furnace that burns fossil fuels and creates heat which gets transferred to water to form steam. A power plant boiler is a type of mechanical equipment that produces steam by heating water and utilizes it to generate energy. The global power plant boiler market exhibited moderate growth during 2015-2020.

Power plant