Boiler Market Segmentation:
Fuel Segment Analysis
Biomass segment in the boiler market is expected to register lucrative growth till 2035. This rise comes from strict rules by governments to cut down on emissions and the cost benefits of gas boilers for home heating. The coal segment is likely to stay second to the biomass segment due to the easy access to cheap coal, especially in places with many coal power stations. The market for coal-fired boilers is projected to surge by 11.2% yearly. Key factors pushing growth in the coal area include a higher need for energy, growing industrial activities, and the low cost of coal as a fuel option.
Application Segment Analysis
The power generation sub segment is estimated to gain the largest market share in the year 2035. The rising need for power generation due to urbanization and industrialization help this sector lead the market. Boilers are key in producing power, by turning water into steam which is one of the most significant sources of energy. This steam is powerful enough to then move turbines to make electricity. There is a mix of boilers being used, like those that run on coal, gas, or biomass, based on what kind of fuel is available and what the power plant needs.
Boiler Type Segment Analysis
Steam boilers segment is expected to capture boiler market share of over 42% by 2035. The segment growth can be attributed to their superior efficiency. Supercritical boilers work at higher heat and pressure compared to other types of boilers, leading to better efficiency. Their efficiency rate is around 45-47%. This means they use less fuel and cost less to operate. These boilers, along with others, are key in coal power as well. Looking ahead, it's expected that the subcritical type will still be most common due to more coal power projects, especially in growing countries.
Our in-depth analysis of the boiler market includes the following segments:
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Fuel |
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Application |
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Boiler Type |
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