Power Plant Boiler Market
Report ID: SQMIG55E2082
Report ID: SQMIG55E2082
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Report ID:
SQMIG55E2082 |
Region:
Global |
Published Date: July, 2025
Pages:
195
|Tables:
92
|Figures:
68
Global Power Plant Boiler Market size was valued at USD 57.96 Billion in 2024 and is poised to grow from USD 68.27 Billion in 2025 to USD 253.17 Billion by 2033, growing at a CAGR of 17.8% during the forecast period (2026–2033).
Growing demand for energy around the world, high investments in renewable energy generation, imposition of stringent emission regulations, and expansion of cogeneration plants are slated to boost the sales of power plant boilers in the future.
Boom in global population backed by rising industrialization and urbanization have led to a major surge in demand for energy thereby driving the adoption of power plant boilers going forward. Growing investments of governments around the world to enhance their energy generation capacity to boost economic development are also slated to promote power plant boiler demand over the coming years.
High awareness regarding sustainability has led to imposition of stringent emission mandates in energy generation, which is also slated to bolster the global power plant boiler market growth through 2032. Launch of new cogeneration plants to support industrial activity is also slated to uplift the sales of power plant boilers in the long run.
On the contrary, high initial investments for installation and maintenance, phasing out of coal-based power generation, environmental concerns regarding air pollution, and fuel supply chain disruptions are forecasted to hurt the adoption of power plant boilers across the study period.
Can Artificial Intelligence Influence the Global Power plant boiler Industry Going Forward?
Power plant boiler companies are expected to focus on deploying artificial intelligence (AI) technology to optimize power plant boiler operation. Use of AI can help power plant boiler providers reduce their costs of operations, improve efficiency, and ensure better compliance with stringent environmental regulations in the future. Integrating AI can also help power plant boiler manufacturers add predictive maintenance capabilities to their offerings thereby reducing downtime and maximizing the productivity of power plant boiler.
Market snapshot - 2026-2033
Global Market Size
USD 49.2 billion
Largest Segment
Pulverized Fuel Combustion
Fastest Growth
Fluidized Bed Combustion
Growth Rate
17.8% CAGR
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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.
Higher heat rates and better combustion are key benefits that are helping boost the adoption of pulverized fuel combustion process in power plant boilers around the world at present. Adoption of this process increases the surface area of fuel burnt and reduces the possibility of unburned carbon emissions thereby making this a highly eco-friendly process as well. Moreover, the high versatility of this process is also expected to bolster the high global power plant boiler market share in the future. Growing emphasis on improving sustainability of power plant boilers is also slated to help this segment boost revenue generation for market players in the long run.
Meanwhile, the demand for fluidized bed combustion (FBC) process is slated to increase at the fastest CAGR over the coming years. High combustion efficiency, low thermal NOx emissions, and flexibility for different fuel types are some of the key benefits that are expected to help create a new business scope for companies across the study period and beyond.
Low initial investments required to set up and operate a subcritical power plant boiler are helping it emerge as the prominent segment in the global power plant boiler industry going forward. Subcritical power plant boilers operate under 22.1 MPa (3200 psi) pressure range and feature thermal efficiency between the range of 30% to 40%. Growing demand for affordable power generation around the world and increasing popularity of subcritical power plant boilers to replace existing utility facilities in developing countries are slated to cement the dominance of this segment across the forecast period.
On the other hand, the sales of power plant boilers with ultra-critical technology are expected to increase at the fastest pace over the coming years. Enhanced thermodynamic efficiency and thermal efficiencies exceeding 45% offered by power plant boilers with ultra-critical technology is anticipated to boost their popularity and adoption on a global level through 2032.
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The Asia Pacific region is slated to account for more than half of the global power plant boiler market share in the future. Rapidly surging demand for energy on the back of growing industrialization and urbanization as Asian countries try to boost economic growth are making this a highly rewarding region. Surging investments in infrastructure development and efforts to improve energy security are also forecasted to cement the dominance of this region.
China is estimated to spearhead the sales of power plant boilers in the Asia Pacific region through 2032. Launch of multiple new government efforts and initiatives to improve power generation capacity to empower industrial growth are helping promote the adoption of power plant boiler in the country. Boom in adoption of electric vehicles is also a key factor augmenting the power plant boiler demand outlook in China going forward.
Presence of leading power plant boiler companies such as Bharat Heavy Electricals Limited (BHEL), Thermax, and others in India is slated to primarily help generate new business scope in the future. Extensive use of coal as a primary source for power generation in the country is also slated to boost the adoption of power plant boilers. High emphasis on power generation capacity expansion of the Indian government is also slated to help create new opportunities in the country.
Rapidly surging demand for power and launch of multiple new power projects in the Latin American region make it a highly opportune region for market players. Abundant availability of natural resources, including fossil fuels such as natural gas and coal in the region is also expected to offer new business scope for power plant boiler suppliers looking to boost their revenue generation in the long run.
Robust increase in demand for electricity from the expanding middle class population is slated to primarily boost the adoption of power plant boilers going forward. Increasing need for replacement of old power generation equipment and substantial availability of biomass fuel for boilers are also expected to uplift the adoption of power plant boiler in the country through 2032 and beyond.
Robust increase in demand for energy and adoption of highly advanced power plant boilers are helping North America create new business scope for market players. Increasing regulatory volatility in power generation to reduce emissions and growing integration of renewable energy generation are also slated to boost the adoption of power plant boiler in the North American region going forward.
Robust availability of multiple nature resources such as coal, natural gas, and biomass for power generation in the United States is expected to boost the sales of power plant boilers in the country. Extensive use of steam-based power generation equipment in multiple energy generation projects in the United States is also slated to cement the dominance of this country over the coming years.
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Surge in Demand for Electricity
Advancements in Boiler Technology and Efficiency
Phasing Out of Coal Power
Fuel Supply Chain Disruptions
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Power plant boiler providers should focus on improving the efficiency of their offerings and reduce emissions to comply with modern environmental mandates. Use of cleaner fuels to operate power plant boilers is also slated to be a major opportunity for companies looking to make a mark in the long run. Targeting developing countries such as India, China, and Brazil is slated to be a key strategy for all companies as per this global power plant boiler market forecast.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, increasing demand for industrial automation, high investments in 5G infrastructure development, and launch of new smart city projects are slated to primarily drive the demand for power plant boiler going forward. However, cybersecurity risks, data privacy concerns, and high costs of implementation in developing regions are expected to slow down the sales of power plant boiler in the future. North America is forecasted to emerge as the leading market for power plant boiler providers owing to the rapid adoption of advanced technologies and need for strict regulatory compliance with different safety standards across multiple industry verticals. Simplification of user interfaces is projected to emerge as an indispensable power plant boiler market trend for the future.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 57.96 Billion |
| Market size value in 2033 | USD 253.17 Billion |
| Growth Rate | 17.8% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Power Plant Boiler Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Power Plant Boiler Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Power Plant Boiler Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Power Plant Boiler Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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