SELBYVILLE, Delaware, November 6, 2018
SELBYVILLE, Delaware, November 6, 2018 /PRNewswire/ --
Global Utility Boiler Market annual installation is anticipated to exceed 60 GW by 2024, as reported in the latest study by Global Market Insights, Inc. Robust energy demand coupled with resurgent economic growth across major economies will stimulate the utility boiler market growth. Growing efforts to mitigate the electricity supply demand gap coupled with stringent emission norms toward carbon emissions will drive the deployment of super-critical boilers. Furthermore, key developing countries are predominantly focusing toward the expansion of generation capacity to support the industrialization efforts which will further enhance the business landscape.
>500 MW utility boiler market is projected to witness strong growth on account of rising investments toward deployment of ultra-supercritical technology. Respective governments across Asia Pacific region have announced aggressive expansion plans of generating capacity in order to meet the present and future electricity demand which in turn will boost the product adoption.
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Increasing demand for uninterrupted and reliable electricity supply from major economies has resulted in rising investment toward thermal power generation which will stimulate the global market size. National targets pertaining to reduction in carbon footprints along with regulatory norms to curb emissions will further encourage the adoption of supercritical and ultra-supercritical boilers.
Ultra-supercritical utility boiler market is predicted to expand over 3% by 2024. Improved efficiency, low heating value, environment friendly technology, and compliance with emission standards are some of the prominent features that make the product adoption preferable over other alternatives. Robust expansion of the manufacturing sector driven by increased domestic demand will further augment the business growth.
Browse key industry insights spread across 335 pages with 453 market data tables & 60 figures & charts from the report, "Global Utility Boiler Market By Capacity (30-100 MW, 100-250 MW, 250-500 MW, >500 MW), By Technology (Subcritical, Supercritical, Ultra-Supercritical), Analysis Report, Regional Outlook (China, India, U.S., Brazil, Colombia, Chile, Panama, Argentina, Guatemala, Canada, Poland, Czech Republic, Bosnia & Herzegovina, Turkey, Russia, Tajikistan, Indonesia, Philippines, Thailand, Mongolia, Bangladesh, Pakistan, Japan, Vietnam, South Korea, UAE, Morocco, Botswana, Nigeria, Tanzania, South Africa, Egypt), Competitive Market Analysis & Forecast, 2018 - 2024" in detail along with the table of contents:
Escalating demand for energy efficient power generating systems along with rising investments toward the expansion of industrial sector will drive the supercritical utility boiler market growth. The demand for these units is attributed to their safety features, longer operational life and high capacity range. Shift toward replacement of existing subcritical steam generating systems will positively influence business landscape.
Indonesia, in 2017, accounted for over 8% of the Asia Pacific market share. Rising infrastructural investments along with electricity capacity addition across the country will drive the product demand in coming years. Increasing electricity demand along with shift toward energy conservation will further accelerate the adoption of supercritical boilers.
Middle East & Africa market size is anticipated to witness growth on account of government efforts to enhance the electricity generation outlook across the region. Strong economic growth coupled with government efforts toward enhancing industrial output will continue to urge the demand for large-scale power projects, subsequently fueling the demand for utility scale boilers.
Prominent industry participants active across the utility boiler market include Babcock and Wilcox, IHI, CMI, AMEC Foster Wheeler, Siemens, Bharat Heavy Electricals Limited, Doosan Heavy Industries, General Electric, A.C. Boilers, Rentech, Thermax, Mitsubishi Hitachi Power Systems, Victory Energy Operations and Walchandnagar Industries Limited amongst others.
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Global Industrial Boiler Market revenue, in 2017 was valued at over USD 9 billion with annual deployment to exceed 100 thousand units by 2024, helped by rapid industrialization coupled with ongoing investments toward expansion of manufacturing facilities.
Global boiler market in 2017 was valued at over USD 50 billion and annual installation is anticipated to exceed 13 Million Units by 2024, pushed by growing energy demand in conjunction with pervasive investment across the industrial sector.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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