Market Size of Advanced Utility Boilers Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Advanced Utility Boilers Market Analysis
The advanced utility boilers market is expected to rise at a CAGR of more than 2% during the forecast period of 2020-2025. Factors such as rapidly increasing energy demands in the developing regions such as Asia-Pacific and the requirement of cleaner technology for energy generation are likely going to drive the advanced utility boilers market. However, the increase in the production of cleaner energy from renewable sources in comparison to advanced utility boilers is expected to restrain the advanced utility boilers market.
- Ultra-supercritical boiler segment, due to its higher plant efficiency and lower carbon emissions, is expected to be the fastest-growing segment for the advanced utility boilers market during the forecast period.
- New technologies such as advanced ultra-supercritical boilers having cycle efficiency over 50%, thus emitting less carbon emission are likely to be highly accepted by the power plant owners and are expected to create several opportunities for the future's advanced utility boiler market.
- Due to the rapid and most significant growth in energy consumption, Asia-Pacific is expected to be the largest and fastest-growing market for the advanced utility boilers market during the forecast period. In 2018, approximately 42% of the global primary energy was consumed by the Asia-Pacific region.
