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Boilers: A Global Strategic Business Report


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An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.


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1 October 2011

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Global Industry Analysts

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Boilers Industry Recovers, Following a Slowdown in New Orders during Recession

The global market for Power/Utility Boilers is forecast to reach 147.5 Thousand Megawatts (MW) by the year 2017 and market for Industrial Boilers to reach 719 Thousand Tons of Steam per Hour (TSPH) by 2017. Major factors driving growth in the market include increasing power consumption worldwide, volatility in fuel prices, new environmental regulations, and drive towards fuel diversification. Other factors fuelling market growth include rising industrialization, and increasing infrastructural growth in emerging markets.

As was the case with several other industries, the global boiler industry succumbed to the recent downturn in the global economy. However, the impact was minimal with annual new capacity additions witnessing a moderate decline during the year 2009. Several projects were either cancelled or postponed during 2009 across several regions, including the US. Credit crunch forced customers delay or abandon capital-improvement projects that involve huge investments. However, gradual recovery of world economy and surging demand for energy efficient boilers have combined to post recovery in the market in 2010, and growth in the market is expected to come back to pre-recession levels in the near future. Presently, boilers demand is highly concentrated in emerging economies of India and China. Meanwhile, in developed countries, the boilers demand is largely driven by the replacement of aging capacity with clean and more efficient equipment. Energy efficiency is a key influencer of boiler costs, as fuel cost represents more than 88% of overall boiler cost on a lifecycle basis.

According to Global Industry Analysts, boiler, generator, and turbine represent the three basic systems required to produce electricity in a thermal power plant. Boilers represent the fundamental component of a power plant, which are used to burn fossil fuels, primarily pulverized coal. A growing desire for fuel diversification is generating growing interest in the boiler market. The market will be impacted by factors such as fuel price differential, forward pricing for power, impact of new environmental legislation and regulations, global pressures to reduce CO2 emissions, and public acceptance. From a global perspective, the global power generation market is still a growing business. Demand for boilers is significantly affected by dynamics in the hydroelectric power generation marketplace, among others. In future, demand for hydroelectric power is most likely to emerge from developing regions, such as China, Asia-Pacific (particularly South East Asia), Latin America, and Eastern/Central Europe on account of increased expenditure on electricity infrastructure due to factors such as rapidly expanding population, economic prosperity, and the subsequent need to enhance necessary infrastructure. Demand for hydroelectric power is likely to be moderate in Europe and North America, with large part being accounted for by replacement of aging capacity.

Due to the ongoing green movement, Circulating Fluidized Bed (CFB) boiler is witnessing rapid growth worldwide. Driven by environmental concerns such as waste disposal and fuel problems, several countries are increasingly installing CFB units. Countries such as India and China are increasingly concentrating on emission reducing technologies, such as fluidized bed boiler or circulating fluidized bed technology. CFB technology is rapidly gaining importance due to its ability to burn coal with significantly less emission. Demand for CFB boilers, conventional Pulverized Coal (PC) and Heat Recovery Steam Generators (HRSGs) is showing a marked increase in developing countries, particularly in Asia and Eastern Europe regions.

Asia-Pacific continues to remain the largest regional market for Power/Utility Boilers as well as Industrial Boilers. Growth in the global boilers market would be driven by developing countries worldwide. Asia-Pacific also represents the fastest growing regional market displaying a CAGR of about 5.2% over the analysis period in the power/utility boiler market/while posting a CAGR of 4.3% in the industrial boiler market. Within the industrial boilers market, the Others segment represents the largest end-use market while the Oil & Gas Industry represents the fastest growing end-use market.

Major players profiled in the report include Alfa Laval Aalborg, ALSTOM SA, ANDRITZ Energy & Environment, Foster Wheeler AG, Harbin Power Equipment Company Limited, Babcock-Hitachi K.K., The Babcock & Wilcox Company, Mitsubishi Heavy Industries, Ltd., Miura Co. Ltd., Wellman Robey Limited, among others.

The research report titled Boilers: A Global Strategic Business Report provides a comprehensive review of the boilers market, current market trends, key growth drivers, recent product launches, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for boilers market for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America. Also, a six-year (2003-2008) historic analysis is provided for additional perspective. The report analyzes the Industrial Boilers market by the following end-use segments - Oil & Gas; Chemical; Food & Beverage; Building & Construction; and Others. The report also analyses the Boilers market in value terms for US and Canada by boiler type - Electric Boilers, Fire-Tube Boilers, and Water-Tube Boilers. Global Industry Analysts ©

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Select License Type

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