According to the latest report by IMARC Group, titled “Power Plant Boiler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global power plant boiler market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global power plant boiler market to grow at a CAGR of around 4% during 2021-2026.
A power plant boiler is mechanical equipment used to produce high-pressure steam for generating electricity. The combustion system in the boiler converts the heat generated from different fossil fuels into steam, which is further converted into electrical energy by using a turbine. Some of the components utilized in a boiler to increase its efficiency and safety are safety valve, water level indicator and pressure gauge.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Power Plant Boiler Market Trends:
Rapid urbanization, industrialization, increasing population and boosting overall sales of consumer electronics have led to the rise in the consumption of electricity across the globe. To meet the escalating demand, governments of several countries are investing in the setup and up-gradation of existing power plant boilers. Owing to rising environmental concerns, they are also promoting the adoption of efficient technologies, such as supercritical technology boilers, for reducing carbon emissions. Furthermore, leading manufacturers are investing in research and development (R&D) activities for improving the efficiency of power plant boilers.
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Global Power Plant Boiler Market 2021-2026 Analysis and Segmentation:
Competitive Landscape With Key Players :
Breakup by Type:
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Key Highlights of the Report:
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