New Report Available: Global Power Boiler Market 2015-2019

Power boiler is a closed vessel that uses different types of fuel to generate steam. It includes a heat source (furnace) and a heat transfer medium (pipes or tubes for heat exchange). Vendors offer high-quality and customized fuel specific boilers for increased operational efficiency in the power industry.

Technavio's analysts forecast the global power boiler market to grow at a CAGR of 4.4% during the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "Growing concerns over environmental issues, such as carbon emissions, have forced governments worldwide to impose stringent regulations and policies on the emission of hazardous air pollutants from new and existing boilers. For instance, in 2014, the US EPA finalized MACT standards for existing and new boilers. Under these standards, existing boilers have to comply with the rules that limit emissions until January 31, 2016. These stringent norms will force industries to replace their existing boilers with new boilers that conform to the specified emission limits, which will boost the replacement market for boilers in the near future."

According to the report, growth of industrialization and rising standards of living have led to countries worldwide register a rising demand for energy. The increase in population is another major factor propelling the global demand for energy, which can be met with the help of power boilers. The dependency on coal-fired power generation, owing to their capability of providing uninterrupted power supply, will likely drive the power boiler market. Massive power generation capacity installations in APAC, designed to meet growing electricity demand, and the replacement of old and inefficient power boilers with new innovative boilers will drive the power boiler market during the forecast period.

Further, the report states that the prices of boiler components, such as boiler hardware, rotary valves, bend ducting, and boiler ID fans, are increasing because of the rising raw material prices.

The key players in the Global Power Boiler Market are Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin Electric and MHPS while other prominent vendors include Babcock and Wilcox, BHEL, Hangzhou Boiler Group, Siemens and Thermax

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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