Global Power Boiler Market 2017-2021
About Power Boiler
A power boiler is an innovative and efficient boiler concept. It is a closed vessel designed to use a wide range of fuel to produce power from heat energy. A power boiler is an enclosed vessel that consists of a heat transfer medium (pipes or tubes for heat exchange) and a heat source (furnace), which allows the heating of water to generate steam. Many vendors offer superior-quality and customized fuel specific boilers to increase the operational efficiency in the power industry.
Technavio’s analysts forecast the global power boiler market to grow at a CAGR of 3.84% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global power boiler market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Power Boiler Market 2017-2021
Technavio recognizes the following companies as the key players in the global power boiler market: Amec Foster Wheeler, Babcock & Wilcox Enterprises, DONGFANG BOILER GROUP, General Electric, Harbin Electric, and MITSUBISHI HITACHI POWER SYSTEMS.
Other Prominent Vendors in the market are: ANDRITZ, BHEL, BGR Energy Systems, Cethar, Doosan Lentjes, E.ON, F&H Crone B.V., FORMOSA HEAVY INDUSTRIES, Hangzhou Boiler Group, JFE ENGINEERING, Siemens, Thermax Global, TOSHIBA CORPORATION, Valmet, and ZHENGZHOU BOILER.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is need for energy efficiency. Efficiency is one of the most desired factors in the energy sector to address the depleting sources of conventional energy and address the growing demand for electricity. By achieving greater levels of efficiency, higher power output is generated with the same amount of resource and without additional harmful emissions.”
According to the report, one driver in the market is deregulation of the power market. The electrical grid is a complex and dynamic interconnected system comprised of power generating plants, transmission lines, and a distribution network. Earlier, an electrical grid was largely managed and maintained by a single entity, which created a monopolistic market scenario, making it impossible for anyone to foray into the power and distribution market. To prevent the abuse of monopoly position, the power and distribution market was deregulated to induce a sense of competition and to improve the services to the end-users.
Further, the report states that one challenge in the market is restrictions on carbon emissions. Government bodies worldwide are implementing measures to reduce GHG emissions from energy-related activities. Amid international agreements such as Kyoto Protocol, the foothold of coal-powered electricity generation in the global energy mix, which was once firm is turning precarious. Agencies such as EPA, the Intergovernmental Panel on Climate Change, and the Climate Change Act of 2008 have laid down targets for reducing emissions. For instance, the US, the UK, and China have laid down restrictions on CO2 emissions from new coal power plants.
Amec Foster Wheeler, Babcock & Wilcox Enterprises, DONGFANG BOILER GROUP, General Electric, Harbin Electric, MITSUBISHI HITACHI POWER SYSTEMS, ANDRITZ, BHEL, BGR Energy Systems, Cethar, Doosan Lentjes, E.ON, F&H Crone B.V., FORMOSA HEAVY INDUSTRIES, Hangzhou Boiler Group, JFE ENGINEERING, Siemens, Thermax Global, TOSHIBA CORPORATION, Valmet, and ZHENGZHOU BOILER.
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