Global Power Plant Boiler Market Outlook to 2028

Global Power Plant Boiler Market Outlook to 2028

Updated on 26th May 2023 | Market Research Reports | Q2 2023 | Report ID: BR0318

About the Report

Market Overview

 

Increased power consumption due to industrialization in emerging nations and government initiatives and policies on updating existing power plants and developing new ones are the key factors driving the market's growth.

 

In developed countries, governments have been focusing on alternate and cleaner fuel sources such as biogas, biomass, and natural gas, thus boosting the expansion of the power plant boilers market.

 

A power plant boiler is an equipment that generates steam by heating water and then uses it to generate electricity. In industries that use steam for a variety of purposes, a boiler is required. Larger boilers are often utilized in commercial installations and power plants.

 

Types

 

On the basis of technology

 

  • Subcritical boiler - Subcritical boilers operate at temperatures of up to 374°C and pressures of up to 3,208 psi. Subcritical boilers are composed of drums, and these drums act as a fixed evaporation endpoint.

 

  • Supercritical boiler - Supercritical boiler is often used in generating electricity and works at temperatures around 538–565°C and pressures above 3,200 psi. A supercritical boiler has a system with a variable evaporation endpoint. Supercritical boilers are drum-less.

 

  • Ultracritical boiler – Works around with a steam temperature of greater than 600°C and pressure of 3500 psi. Ultra-supercritical technology is recommended for reactors between 300 and 500 MW; however, supercritical technology is also approved. For plants larger than 500 MW, only ultra-supercritical power plants with a steam temperature of greater than 593°C and pressure of greater than 240 bar is allowed.

 

A supercritical boiler has a better efficiency because it uses less fuel to create the same quantity of heat energy as a subcritical boiler. Supercritical boilers are more efficient than subcritical boilers in terms of technology and emit fewer greenhouse emissions.

 

On the basis of the process

 

  • Fluidized Bed Combustion (FBC) - This is a combustion technology that uses high efficiency to burn solid fuels while reducing sulfur emissions. In FBC, an airstream moving from the bottom of the bed at a sufficient velocity to suspend the material in it causes a bed of crushed solid particles to act like a fluid. The bed material, which is often a combination of coal and sand, ash, or limestone, has many of a fluid's properties and characteristics. Because the bed is constantly bubbling and mixing like a boiling liquid, heat transfer to and from the bed is highly efficient, allowing for consistent temperatures.

 

  • Pulverized Fuel Combustion (PFC) – The process is universally adopted for large-scale power plants. The raw coal is put through a pulverizer along with air heated from the boiler to around 650 °F (340 °C). The pulverized coal from the pulverizer is blasted straight into a boiler burner. The powdered coal in the air suspension is mixed with extra pre-heated combustion air by the burner and forced out of a nozzle. As the rolling motion crushes the coal, hot air dries it and blasts out the useable fine coal powder as fuel.

 

Market trends and developments

  • Continuous efforts to reduce emissions and transition to clean energy technologies in US, North America, and Europe are now shifting to renewable fuels in power plant boilers. In Europe, this transition also sees the installations of new efficient boiler systems by replacing the conventional ones.
  • There is a growing emphasis on updating power infrastructure and boosting the use of supercritical technology over subcritical. These technological advancements are resulting in the increased installation of supercritical boilers than other power plant boilers. This increased use of supercritical and ultra-supercritical technologies is increasing the demand for pulverized coal by coal-fired power stations.
  • China intends to construct 43 new coal-fired power plants and 18 new blast furnaces.
  • Babcock & Wilcox Renewables will enter the solar energy industry by acquiring a significant share in Fosler Construction, the largest solar installation business. In addition, the company has signed two contracts to design and deliver the advanced tech to decrease emissions, create cleaner energy at a power plant in Asia, and assist its clients in reducing emissions from thermal plants.
  • Thermax worked on a special design to combust non-recyclable solid waste (NRSW) by generating free steam without any support fuel for paper mills in an environment-friendly manner. A major paper mill in Gujarat, India, has placed an order with the company for the installation of a 100 TPD NRSW-fueled boiler. This will utilize 33,000 tonnes of non-recyclable solid waste in a year without any damage to the environment. Thermax remotely commissioned a 50 TPH natural gas, acetone, and gas-fired boiler for a chemical company in Egypt. Remote Online Service Support was used to complete all critical processes.
  • Mitsubishi power to develop ammonia combustion systems for thermal power plant boilers that utilize ammonia as a fuel. Ammonia combustion is used to contribute to reductions in CO2 emissions from power stations.

 

Opportunities

  • The rising need for a dependable power supply requires the replacement of old boilers with newer, more sophisticated, and efficient boilers, which improves the power plant's thermal efficiency. Manufacturers can provide advanced boiler modifications for the power plants, increasing their fuel flexibility and efficiency and minimizing the potential impact of CO2 emissions.
  • The end-user demand for smart boiler technologies urges manufacturers to incorporate digital technologies in power plant boilers.
    1. Manufacturers can incorporate real-time remote boiler monitoring, alarms detection, and boiler equipment performance and condition troubleshooting from any place without physical examination.
    2. Manufacturers can implement Steam-as-a-service (Saas) model to provide the end-users with a fully financed solution that meets the steam requirements of industrial users by designing, building, operating, maintaining, and continuously optimizing steam generation onsite.
  • China and India have the fastest-growing rate of energy consumption globally which means that there will be an expansion of existing or installations of new power plants. These countries also have several upcoming coal-based power plant projects. The factors mentioned above will provide an opportunity for the manufacturers to tap into these markets, which will stimulate demand for gas-fired and pulverized fuel boilers.
  • Scientists in India have developed a one-of-a-kind laser-based clad coating technology (LCCT) that increases the safety of boiler components in thermal power plants. Compared to existing surfacing methods, it can increase the life of boiler components by 2- 3 times. Manufacturers can use this technology for their supercritical and ultra-supercritical thermal power plant boilers to provide additional protection and increase the life of the boilers, as various boiler parts frequently deteriorate due to extreme wear and corrosion at high temperatures, necessitating regular replacements throughout breakdown and maintenance cycles.

 

Blackridge Research's Power Plant Boiler Market report provides insights into the current global and regional market demand environment and prognosis.

 

The study offers a thorough examination of the many factors that impact the power plant boiler market growth. The study also comprehensively analyses the power plant boiler market by segmenting it based on geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America), based on technology (subcritical, supercritical and ultracritical), and based on process (pulverized fuel combustion and fluidized bed combustion)

 

The report also discusses current and future market possibilities, market trends, advancements, and the effect of Covid-19 on the power plant boiler market, essential developments, regions, and segments poised for the fastest-growth, competitive landscape. Further, the power plant boiler market size, and demand forecast, growth rates will also be provided in the report.

  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Market Opportunities
  • 3.5 Market Size and Forecast

4. Industry Analysis

  • 4.1 Supply Chain Analysis
  • 4.2 Porter’s Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Technology
    • 5.1.1 Ultra-Critical
    • 5.1.2 Supercritical
    • 5.1.3 Subcritical
  • 5.2 By Process
    • 5.2.1 Pulverized fuel combustion
    • 5.2.2 Fluidized bed combustion

6. Regional Market Analysis

  • 6.1 North America
  • 6.2 Europe
  • 6.3 Asia-Pacific
  • 6.4 South America
  • 6.5 Africa

7. Key Company Profiles

  • 7.1 Babcock & Wilcox Enterprises Inc.
  • 7.2 GE Power Ltd.
  • 7.3 Siemens AG
  • 7.4 IHI Corp
  • 7.5 Thermax Limited
  • 7.6 MHPS Dongfang Boiler Co. Ltd.
  • 7.7 Mitsubishi Heavy Industries, Ltd.
  • 7.8 Cleaver-Brooks Inc.
  • 7.9 Doosan Heavy Industries Constrctn Co Ltd
  • 7.10 Hurst Boiler and Welding Co.

8. Competitive Landscape

  • 8.1 List of Notable Players in the Market
  • 8.2 M&A, JV, and Agreements
  • 8.3 Market Share Analysis
  • 8.4 Strategies of Key Players

9. Conclusions and Recommendations

List of Tables & Figures

Abbreviations

Additional Notes

Disclaimer

  This report helps to:-

  • Gain a deeper understanding of the impact of COVID 19 on the power plant boiler market.
  • Equip yourself with rigorous analysis and forward-looking insight into the power plant boiler market across various regions
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development
  • Assess market data and forecasts to understand how the demand for different segments evolve over the next five years
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players.
  • Keep on top of M&A developments, JV’s, and other agreements to assess the evolving competitive landscape and enhance your competitive position.

  Who need this report?

  • Boilers Manufacturers and Distributors
  • IPP and utilities
  • Equipment Suppliers/ Buyers
  • Investor Community
  • Government Bodies & Industry Organizations
  • Others

  What's included

Report - Global Power Plant Boiler Market Outlook to 2028.pdf
Market Data - Global Power Plant Boiler Market Outlook to 2028.xls

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