Spiraling Demand for Electricity in Developing Countries Drives the Global Utility and Power Boilers Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 25, 2014 -- Follow us on LinkedIn – The global utility boilers market has long benefited from spiraling demand for power particularly from emerging economies, continuous changes in energy policies worldwide, and rapid technological advancements in the power generation equipment sector. The market is also driven by the heavy dependence on coal-fired power plants. The establishment of new power plants, refurbishment of existing power generation facilities, and migration to energy-efficient models are also propelling sales of utility boilers. As a key component of thermal power plants, utility boilers are strongly influenced by macro trends in the power generation sector such as liberalization and privatization.
Gas-fired boilers market represents the biggest benefactor of the global trend towards fuel diversification. The availability of cheaper unconventional shale gas in the United States is stimulating demand for gas-fired boilers in the country, while the resulting shift of global coal trade from the Atlantic region to the Pacific region is stimulating coal-fired capacity installations in Europe and Asia.
Government authorities across the globe are enforcing stringent regulations to reduce emission of greenhouse gases and toxic air pollutants from power plants thereby driving the shift from coal-fired boilers to boilers firing cleaner fuels such as solar, natural gas and biomass. Environmental regulations and government incentive programs are helping accelerate the replacement and refurbishment of aging power generation equipment with energy-efficient boiler technologies such as circulated fluidized bed combustion (CFBC) boilers, atmospheric fluidised bed combustion (AFBC) boilers, sub-critical boilers and supercritical boilers.
Aggressive product pricing in intensely competitive and price-sensitive markets such as Asia is hindering technological innovation in the power boilers market. Volatile raw material prices, uncertain steel prices, and increasing competition from Chinese vendors are some of the other major factors restricting growth in the global power boilers market.
As stated by the new market research report on Power and Utility Boilers, Asia-Pacific represents the largest and fastest growing market worldwide with a projected CAGR of 7.7% over the analysis period. Robust economic development, rapid industrialization, increasing urbanization, government infrastructure development programs, and expanding population represent key growth drivers in the region. In the developed markets of Europe and North America, aging energy infrastructure will provide opportunities for equipment replacements, upgrades and modernization.
Major players covered in the report include Alstom Group, Bharat Heavy Electricals Limited, Cethar Limited, Dongfang Boiler Group Co. Ltd., Doosan Heavy Industries & Construction Co. Ltd., Foster Wheeler AG, Harbin Electric International Co. Ltd, Hitachi Ltd., IHI Corporation, Kawasaki Heavy Industries Ltd., Larsen & Toubro Limited, Mitsubishi Heavy Industries Ltd., Miura Co. Ltd., Shanghai Electric Group Company Limited, Takuma Co. Ltd., The Babcock & Wilcox Company, and Thermax Ltd., among others.
The research report titled “Utility and Power Boilers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of macro and micro trends and market growth drivers and challenges shaping the market, coupled with mergers, acquisitions and other strategic industry activities. The global market is quantified in terms of annual capacity additions of coal-fired utility and power boilers in Megawatts (MW) for major geographic markets including the United States, Japan, Europe (Germany, Italy, UK, Russia, Poland, Turkey, Ukraine, and Rest of Europe), Asia-Pacific (China, India, Vietnam, Indonesia, Taiwan, and Rest of Asia-Pacific), Middle East & Africa (South Africa and Rest of Middle East & Africa), and Latin America (Chile, Colombia, and Rest of Latin America).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Power_Utility_Boilers_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 (408) 528-9966, [email protected]
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