Utility Boiler Market annual installation will surpass 60 GW by 2024

In 2017, Indonesia accounted for more than 8% of Asia Pacific utility boiler market share owing to electricity capacity addition across the region along with strengthening demand for the replacement of sub-critical generation technologies.

Sellbyville, United States - December 4, 2018 /MarketersMedia/ —

Middle East & Africa utility boiler market is set to witness strong growth on account of respective government focus to increase the electricity generation capacity along with increasing investment in infrastructural development. Resurgent economic growth coupled with efforts toward increasing industrial output will continue to drive the demand for large-scale utility boilers.

Global Utility Boiler Market will cross USD 20 Billion 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 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.

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Ultra-supercritical boiler market is anticipated to grow over 3% by 2024. The demand for these systems is attributed to its eco-friendly technology, low heating value, compliance with emission standards and improved efficiency. Increasing investment across manufacturing sector along with strengthening economic growth will positively influence industry landscape.

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.

>500 MW utility boilers industry is set to witness robust growth owing to the expansion of thermal electricity generation along with rising focus toward replacement of existing steam generating systems. The rising electricity demand from energy intensive industries along with expansion plan for generating capacity across Asia Pacific region will escalate the demand for high capacity boilers.

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.

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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.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/utility-boiler-market

Source URL: https://marketersmedia.com/utility-boiler-market-annual-installation-will-surpass-60-gw-by-2024/454356

Source: MarketersMedia

Release ID: 454356