Power Boilers Market worth $30.62 Billion by 2020 Says a New Research Report at MarketOptimizer.org
Dallas, TX (PRWEB) January 28, 2014 -- Power Boilers: China to Lead Modest Market Growth by 2020
Rising dependency on coal-fired power generation, due to growing electricity demand, will drive the power boiler market, which is forecast to increase from $17.35 billion in 2013 to $30.62 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 6%.
According to the company’s latest report*, China will demonstrate the largest need for power boilers during the forecast period, with its market value expected to grow from $10 billion in 2013 to $21.51 billion by 2020. Since the power boiler industry in North America and Europe is maturing, manufacturers are increasingly looking to the Asia-Pacific, Middle East and African regions to expand their businesses.
Complete report is available @ http://www.marketoptimizer.org/power-boilers-2013-update-global-market-size-average-pricing-equipment-market-share-and-competitive-landscape-analysis-to-2020.html .
Swati Singh, GlobalData's Analyst covering Power, says: “China’s rapid industrialization has created more space for electricity demand in the country, which has resulted in many new power plant developments. The low cost of power boilers in China is another reason for the high sales across the country.”
Besides increasing electricity demand and reliance upon thermal power generation, another market driver is the liberalization and privatization of the electricity industry.
“Privatization is regarded by governments as a method for developing national infrastructure. Governments are also seeking strategic partnerships and investments from foreign Original Equipment Manufacturers (OEMs) in order to develop their domestic power markets,” Singh says.
However, increasing price competition could restrain future growth for the boiler industry.
Singh continues: In the utility sector, price is the major factor in the decision to award contracts for boiler installations. This is forcing manufacturers to compete based on price, which in turn has a negative effect on market growth and innovation.
Another major trend is the installation of multiple boilers, whereby utility companies install several smaller and more economical boiler units as opposed to fewer, larger and more powerful units. This subsequently forces large boiler manufacturers to sell at constant prices due to the level of competition.
This report provides in-depth analysis of the power boiler market in the US, Germany, Russia, China, India, Indonesia, Saudi Arabia and South Africa. It covers average volume (in terms of units and MW), average price, and market value for the 2006–2020 period at different capacity segments.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
Purchase a copy of this report @ http://www.marketoptimizer.org/contacts/purchase?rname=4796 .
Explore more market research reports on Energy at http://www.marketoptimizer.org/category/energy-power/energy .
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Priyank Tiwari, Marketoptimizer.org, http://www.marketoptimizer.org/, +1 (888) 391-5441, [email protected]
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