Utility Boiler Market Size, Share and Global Trend By Capacity (30-100MW, 100-250MW, 250-500MW, Above 500MW), By Technology (Subcritical, Supercritical, Ultra- Supercritical), and Regional Forecast, 2024-2032

Electricity is the greatest gift of science to mankind. Today without electricity, existence is impossible. It is used for most purposes. The utility boilers are large capacity steam generators used purely for the production of electricity. Increasing investment electricity generation capacity from the developed and developing countries to meet continuous energy demand from the industrial and residential sectors. Utility boilers are used for increasing electricity production to fulfill energy demand. Strengthen in carbon emission norms from various developed countries across the world to reduce carbon emission. The carbon emission can be reduced by the efficient utilization of available coal by adopting an advanced model of a utility boiler.

On the basis of the capacity, the global utility boiler market can be segmented into 30-100MW, 100-250MW, 250-500MW, and above 500MW. The capacity of above 500mw utility boiler is expected to dominate the market in the high segmentation. Rapid industrialization, along with an increasing population that created a massive demand for energy. Rising investment towards the adoption of supercritical and ultra-supercritical technology for a high amount of power generation. Also, more government initiatives for the expansion of electricity production plants to fulfill the current and future demand for electricity.

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On the basis of technology, the global utility boiler market is segmented into subcritical, supercritical, and ultra-supercritical. Ultra-supercritical utility boiler is expected to dominate the market in the above segmentation. Strict regulation of carbon emission along with the boost to enhance electricity production to meet the current and future demand for electricity. Ultra-supercritical utility boiler offers high thermal efficiency along with lower the emission of GHG like Co2, No2, and So2, etc. in the environment.

An increase in the expansion of industries to which requires enormous energy to meet domestic demand that will help to propel the ultra-supercritical utility boiler. Also, its safety feature attributes, long operational life, and high capacity of utility boilers help to drive the global utility boiler market.

The factor that is expected to drive the growth of the global utility boiler market is robust in economic growth across the world, which has created a vast demand for energy. This resulted in more investment for the expansion of power generation capacity to meet industrial and residential demand for power across the world. Also, stringent emission norm from various developed countries to curb carbon emission leads to the installation of a utility boiler in the plants. The coal is used for energy produced through utility boiler which affordable as compare to other energy sources. 

The factor that is expected to restrain the growth of the global utility boiler market is declining installation of coal-fired power generation plant and switching towards gas-fired power generation owing to environmental concerns.

Key Market Players

Some of the major companies in the global utility boiler market are 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. 

SEGMENTATION

Regional Analysis

The global utility boiler market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific increase in investment for infrastructural development across various countries like Indonesia, Vietnam, Bangladesh, and Malaysia, which resulted in an increase in demand for electricity. Also, owing to the rise in demand for electricity from the expansion of small scale industries and manufacturing hub along with the increasing population. These are the factors which derived the demand for utility boiler. In the Middle East & Africa robust in economic development with more government efforts for steady industrial output will create demand for expansion in power generation projects. In Europe strengthen in emission rules, which leads to the up-gradation of advanced equipment in the aging power plant to curb carbon emission. Also, owing to economic growth, there is significant investment in the new electricity generation projects. In North America, owing to an increase in industrial activities to enhance the production along with the adoption of advanced and low carbon emission technology for the energy generation.

Key Industry Developments

• In Jun 2019, Atlas Copco has acquired Powerhouse Equipment & Engineering Co. Inc., a steam boiler rental company in the US. This acquisition will help to enhance in technical features of products and add more value to their customers.
• In Sep 2018, GE Power secured contracted from two Indian firms NTPC and Tata Chemicals to upgrade two coal-fired boilers in India. The first installation will be implemented at NTPC’s 980MW thermal power plant at Dadri in Uttar Pradesh and 136 THP Boiler Tata project at Mithapur in Gujrat. This up-gradation of boiler will help to reduce No2 emission.
• In May 2017, BHEL secured a contract from RFCL of worth Rs. 233 Cr. This contract includes design, manufacture, and commissioning of a 32.5 MW gas turbine, 125 THP Heat Recovery Steam Generator, 85 TPH utility boiler and Balance of Plant Package for different plants of the company.