Global Power Boiler Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product Type;

Pulverized Fuel and Circulation Fluidized Bed.

By Technology ;

Supercritical, Subcritical, and Ultra-critical.

By Fuel Type;

Coal, Gas and Oil.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn960327116 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Power Boiler Market (USD Million), 2021 - 2031

In the year 2024, the Global Power Boiler Market was valued at USD 27,716.57 million. The size of this market is expected to increase to USD 36,571.42 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.0%.

The global power boiler market is a critical segment of the energy industry, providing the backbone for electricity generation in various sectors worldwide. Power boilers are integral components of thermal power plants, industrial facilities, and cogeneration systems, where they utilize combustion processes to generate steam, which in turn drives turbines to produce electricity or provides heat for industrial processes. As the demand for electricity continues to rise, driven by population growth, urbanization, and industrialization, the power boiler market plays a crucial role in meeting this escalating energy demand.

One of the primary drivers of the global power boiler market is the increasing focus on cleaner energy sources and stringent environmental regulations. Governments worldwide are implementing policies to reduce greenhouse gas emissions and transition towards low-carbon energy systems, prompting the adoption of cleaner technologies in power generation. Advanced power boilers equipped with emission control systems, such as selective catalytic reduction (SCR) and flue gas desulfurization (FGD), enable power plants to comply with environmental regulations while maintaining efficient operations.

The growing investments in renewable energy sources such as wind, solar, and hydroelectric power are impacting the power boiler market. While renewable energy sources are gaining traction, thermal power plants remain essential for providing baseload power and ensuring grid stability. As a result, there is a continuous demand for efficient and reliable power boilers capable of accommodating renewable energy integration, providing backup power, and supporting grid operations during periods of low renewable energy generation.

Technological advancements and innovations in power boiler design and operation are driving market growth. Manufacturers are developing high-efficiency boilers with advanced combustion systems, flexible fuel capabilities, and digital monitoring and control systems to optimize performance, reduce fuel consumption, and minimize emissions. Additionally, the integration of digitalization, artificial intelligence (AI), and predictive maintenance technologies enables proactive monitoring, early fault detection, and optimization of boiler operations, enhancing reliability and reducing downtime.

The power boiler market faces challenges such as the volatility of fuel prices, uncertainty surrounding energy policies, and the emergence of alternative energy sources. The shift towards distributed energy resources, energy storage systems, and decentralized power generation presents both opportunities and challenges for the traditional power boiler market. Despite these challenges, the global power boiler market is expected to continue growing, driven by the ongoing need for reliable and efficient power generation solutions to meet the increasing energy demand while addressing environmental concerns.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Technology
    3. Market Snapshot, By Fuel Type
    4. Market Snapshot, By Region
  4. Global Overhead Power Cables Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Energy demand

        2. Industrialization

        3. Regulatory frameworks

        4. Environmental regulations

      2. Restraints
        1. Environmental regulations

        2. Capital-intensive nature

        3. Slowdown in industrial growth

        4. High maintenance costs

      3. Opportunities
        1. Renewable energy integration

        2. Modernization of power infrastructure

        3. Replacement of aging coal-fired plants

        4. Stringent environmental regulations

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Overhead Power Cables Market, BY Product Type, 2021 - 2031 (USD Million)
      1. Pulverized Fuel
      2. Circulation Fluidized Bed
    2. Global Overhead Power Cables Market, BY Technology, 2021 - 2031 (USD Million)
      1. Supercritical
      2. Subcritical
      3. Ultra-critical
    3. Global Overhead Power Cables Market, BY Fuel Type, 2021 - 2031 (USD Million)
      1. Coal
      2. Gas
      3. Oil
    4. Global Overhead Power Cables Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea ASEAN (Association of South East Asian Countries)
        6. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Siemens AG
      2. Babcock & Wilcox
      3. Mitsubishi Hitachi Power System
      4. AMEC Foster Wheeler
      5. Thermax Ltd
      6. Harbin Electric
      7. Hangzhou Boiler Group
      8. Alstom
  7. Analyst Views
  8. Future Outlook of the Market