Energy and Power Power Plant Boiler Market | Page 2

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Developing countries are going through urbanization and industrialization which has led to
increase in power demand. To keep up with the growing demand, governments are investing in
the construction of new power plants and are upgrading the existing power plants. Developed
countries such as U.K., U.S. and the Netherlands are setting up power plants which use cleaner
fuels such as biomass, bio gas, and natural gas thereby adding to power plant boiler demand.
The power plant boilers using coal as fuel are estimated to hold major share of the power plant
boiler market. The coal-based boiler market is primarily driven by Asian countries, namely, China
and India which make up for more than 50% of the coal fuel-based boilers. Coal can be easily
transported through land and sea, making it a popular choice for power plants, especially in
countries lacking gas or oil distribution network. Hence, developing countries are expected to
witness more demand for coal fuel boilers as compared to developed countries.
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Asia-Pacific is the largest market, by size, and is estimated to grow at the highest rate due to
large number of power capacity expansion projects in China and India. To meet the growing
demand for power, China alone is expected to add about 70 GW to 90 GW of capacity every year
to its power generation sector, whereas India is expected to add about 10 GW to 20 GW every
year. This has led to high demand for boilers in these countries making Asia -Pacific a lucrative
market for power plant boiler manufacturers.
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