Power Plant Boiler Market Size, Share, Trends, Industry Analysis Report: By Process, Technology, Fuel, and Region

Description

List of Tables

The global power plant boiler market size is expected to reach USD 40.03 billion by 2034, according to a new study by Polaris Market Research. The report "Power Plant Boiler Market Size, Share, Trends, Industry Analysis Report: By Process (Fluidized Bed Combustion, Pulverized Fuel Combustion, and Others), Technology, Fuel, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The power plant boiler market refers to the industry involved in the design, manufacturing, and installation of boilers used in power generation facilities. These boilers are essential for converting fuel into heat, which is subsequently used to produce steam that drives turbines for electricity generation. The market is poised for significant growth, driven by the increasing global demand for electricity, industrialization, and the need for efficient, low-emission power generation systems. Power plant boilers are critical for both traditional and renewable energy plants, including coal, natural gas, biomass, and waste-to-energy plants. The power plant boiler market growth is also fueled by the rising focus on energy security, sustainability, and the transition toward cleaner technologies to meet global environmental goals.

The surge in global energy consumption, which is prompting governments and industries to invest in upgrading and expanding existing power infrastructure, is contributing to the market growth. Moreover, the adoption of advanced technologies, such as supercritical and ultra-supercritical boilers, is enhancing thermal efficiency and minimizing environmental impact. Additionally, the growth of renewable energy sources such as biomass and waste-to-energy plants is driving the demand for specialized boilers designed to handle these fuels. The push for carbon reduction technologies and the implementation of stricter emission regulations are also reshaping the market as stakeholders seek to adopt cleaner, more efficient boiler solutions.

Industry trends indicate an increasing reliance on hybrid power plants, which integrate traditional fossil fuels with renewables. This is expanding the scope of power plant boiler applications. Technological innovations, including AI and IoT-based monitoring systems, are optimizing boiler performance, reducing operational costs, and improving safety. As demand for sustainable and highly efficient power generation systems rises, the power plant boiler market also presents substantial opportunities for manufacturers to expand their product offerings.

Power Plant Boiler Market Report Highlights

In terms of process, the pulverized fuel combustion segment accounted for the largest power plant boiler market share in 2024 due to its high efficiency in generating electricity from coal and its ability to reduce emissions compared to conventional methods.
Based on fuel, the coal segment accounted for the largest market share in 2024 due to coal's continued dominance as a cost-effective and widely available energy source in power generation.
In 2024, Asia Pacific accounted for the largest share due to rapid industrialization, growing electricity demand, and the significant presence of coal-fired power plants in the region.
North America is expected to witness significant power plant boiler market growth over the forecast period due to investments in modernizing aging power infrastructure and increasing adoption of cleaner, advanced boiler technologies.
Some of the global key market players are ANDRITZ; Babcock & Wilcox Enterprises, Inc.; Bharat Heavy Electricals Limited; Dongfang Electric Corporation; Doosan Corporation; General Electric Company; IHI Corporation; John Wood Group PLC; MITSUBISHI HEAVY INDUSTRIES, LTD.; Siemens; Sumitomo Heavy Industries, Ltd.; and Thermax Limited.

Polaris Market Research has segmented the power plant boiler market report based on process, technology, fuel, and region:

By Process Outlook (Revenue USD Billion 2020 - 2034)

Fluidized Bed Combustion
Pulverized Fuel Combustion
Others

By Technology Outlook (Revenue USD Billion 2020 - 2034)

Subcritical
Supercritical
Ultra-Critical

By Fuel Outlook (Revenue USD Billion 2020 - 2034)

Petroleum
Nuclear
Natural gas
Coal
Renewables

By Regional Outlook (Revenue USD Billion 2020 - 2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM3165

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Power Plant Boiler Market Insights

4.1. Power Plant Boiler Market - Market Snapshot
4.2. Power Plant Boiler Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Energy Demand
  - 4.2.1.2. Shift Toward Renewable Energy
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Investment
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Power Plant Boiler Market Trends
4.6. Value Chain Analysis

5. Global Power Plant Boiler Market, by Process

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
5.3. Fluidized bed combustion
- 5.3.1. Global Power Plant Boiler Market, by Fluidized bed combustion, by Region, 2020-2034 (USD Billion)
5.4. Pulverized fuel combustion
- 5.4.1. Global Power Plant Boiler Market, by Pulverized fuel combustion, by Region, 2020-2034 (USD Billion)
5.5. Others
- 5.5.1. Global Power Plant Boiler Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Power Plant Boiler Market, by Technology

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
6.3. Subcritical
- 6.3.1. Global Power Plant Boiler Market, by Subcritical, by Region, 2020-2034 (USD Billion)
6.4. Supercritical
- 6.4.1. Global Power Plant Boiler Market, by Supercritical, by Region, 2020-2034 (USD Billion)
6.5. Ultra-critical
- 6.5.1. Global Power Plant Boiler Market, by Ultra-critical, by Region, 2020-2034 (USD Billion)

7. Global Power Plant Boiler Market, by Fuel

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
7.3. Petroleum
- 7.3.1. Global Power Plant Boiler Market, by Petroleum, by Region, 2020-2034 (USD Billion)
7.4. Nuclear
- 7.4.1. Global Power Plant Boiler Market, by Nuclear, by Region, 2020-2034 (USD Billion)
7.5. Natural gas
- 7.5.1. Global Power Plant Boiler Market, by Natural gas, by Region, 2020-2034 (USD Billion)
7.6. Coal
- 7.6.1. Global Power Plant Boiler Market, by Coal, by Region, 2020-2034 (USD Billion)
7.7. Renewables
- 7.7.1. Global Power Plant Boiler Market, by Renewables, by Region, 2020-2034 (USD Billion)

8. Global Power Plant Boiler Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Power Plant Boiler Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Power Plant Boiler Market - North America
- 8.3.1. North America: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
- 8.3.2. North America: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
- 8.3.3. North America: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.3.4. Power Plant Boiler Market - US
  - 8.3.4.1. US: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.3.4.2. US: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.4.3. US: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.3.5. Power Plant Boiler Market - Canada
  - 8.3.5.1. Canada: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
8.4. Power Plant Boiler Market - Europe
- 8.4.1. Europe: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
- 8.4.2. Europe: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
- 8.4.3. Europe: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.4. Power Plant Boiler Market - UK
  - 8.4.4.1. UK: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.5. Power Plant Boiler Market - France
  - 8.4.5.1. France: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.6. Power Plant Boiler Market - Germany
  - 8.4.6.1. Germany: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.7. Power Plant Boiler Market - Italy
  - 8.4.7.1. Italy: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.8. Power Plant Boiler Market - Spain
  - 8.4.8.1. Spain: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.9. Power Plant Boiler Market - Netherlands
  - 8.4.9.1. Netherlands: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.10. Power Plant Boiler Market - Russia
  - 8.4.10.1. Russia: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.4.11. Power Plant Boiler Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
8.5. Power Plant Boiler Market - Asia Pacific
- 8.5.1. Asia Pacific: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.4. Power Plant Boiler Market - China
  - 8.5.4.1. China: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.5. Power Plant Boiler Market - India
  - 8.5.5.1. India: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.6. Power Plant Boiler Market - Malaysia
  - 8.5.6.1. Malaysia: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.7. Power Plant Boiler Market - Japan
  - 8.5.7.1. Japan: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.8. Power Plant Boiler Market - Indonesia
  - 8.5.8.1. Indonesia: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.9. Power Plant Boiler Market - South Korea
  - 8.5.9.1. South Korea: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.10. Power Plant Boiler Market - Australia
  - 8.5.10.1. Australia: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.5.11. Power Plant Boiler Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
8.6. Power Plant Boiler Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.6.4. Power Plant Boiler Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.6.5. Power Plant Boiler Market - UAE
  - 8.6.5.1. UAE: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.6.6. Power Plant Boiler Market - Israel
  - 8.6.6.1. Israel: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.6.7. Power Plant Boiler Market - South Africa
  - 8.6.7.1. South Africa: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.6.8. Power Plant Boiler Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
8.7. Power Plant Boiler Market - Latin America
- 8.7.1. Latin America: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.7.4. Power Plant Boiler Market - Mexico
  - 8.7.4.1. Mexico: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.7.5. Power Plant Boiler Market - Brazil
  - 8.7.5.1. Brazil: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.7.6. Power Plant Boiler Market - Argentina
  - 8.7.6.1. Argentina: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)
- 8.7.7. Power Plant Boiler Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Power Plant Boiler Market, by Process, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Power Plant Boiler Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Power Plant Boiler Market, by Fuel, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. ANDRITZ
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Babcock & Wilcox Enterprises, Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Bharat Heavy Electricals Limited
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Dongfang Electric Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. Doosan Corporation.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. General Electric Company
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. IHI Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. John Wood Group PLC
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. MITSUBISHI HEAVY INDUSTRIES, LTD.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Siemens
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
10.11. Sumitomo Heavy Industries, Ltd.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
10.12. Thermax Limited.
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development