Power plant boilers are pivotal in electricity generation, converting water into steam through fossil fuel combustion or nuclear reactions. This high-pressure steam propels turbines linked to generators, culminating in electricity production. Integral to thermal power plants, these boilers utilize fossil fuels such as coal, natural gas, or oil, ensuring a reliable electricity supply to residential, commercial, and industrial sectors. Their role is indispensable in sustaining modern infrastructure and fostering economic development by facilitating a consistent and efficient power generation process.
The Global Power Plant Boiler Market is projected to reach 32,541.75 million by 2030 and will grow at a CAGR of 5.2% during the forecast period of 2023-2030.
Below are the Top Power Plant Boiler Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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ANDRITZ
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ANDRITZ is a global leader in providing technologies, equipment, and services for various industries, including the power plant boiler market. They offer a wide range of advanced boiler solutions, focusing on efficiency, sustainability, and reliability. With a strong emphasis on innovation and customer satisfaction, ANDRITZ continues to play a significant role in shaping the future of power generation.
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Europe, South America, Middle East and Africa, Asia-Pacific, and North America
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In September 2021, ANDRITZ company was awarded a contract from Toyo Engineering Corporation, Japan, to deliver a PowerFluid circulating fluidized bed boiler with a flue gas cleaning system. The main objective of this contract was to develop a new biomass power plant to be built in Niigata East Port. Through this, the company will expand its market and reputation among its consumer.
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2.
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General Electric
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GE is a renowned multinational conglomerate with a diversified portfolio spanning various sectors, including power generation. In the power plant boiler market, GE offers advanced boiler technologies and services designed to enhance efficiency, reduce emissions, and optimize performance. With a long history of innovation and expertise, GE remains a key player in providing integrated solutions for power generation needs globally.
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Europe, Americas, Middle East and Africa, Asia-Pacific
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In September 2020, General Electric acquired stakes in Wuhan Boiler Group Co. The main objective of this acquisition was to strengthen its boiler segment. It acquired a 51% stake in Wuhan Boiler Co. This acquisition stake will help the company to grow and exchange technologies, which helps in offering quality products.
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3.
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Siemens
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Siemens is a leading technology company with a significant presence in the power plant boiler market. They specialize in providing state-of-the-art boiler systems and related services tailored to meet the evolving needs of power generation industries. Siemens' focus on sustainability and digitalization enables them to deliver efficient and reliable solutions that contribute to the transition towards cleaner energy sources.
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Europe, Middle East and Africa, Asia-Pacific, and America
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In September 2021, Siemens Energy announced the construction of HL-class gas turbines. The key feature of this contract was to design a power plant that can generate up to 1,100 Megawatts with minimal emissions and economical and flexible power generation. This contract helped the company to expand its presence in Taiwan and its market.
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4.
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MITSUBISHI HEAVY INDUSTRIES, LTD.
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MHI is a prominent Japanese conglomerate known for its expertise in various sectors, including power generation. In the power plant boiler market, MHI offers advanced boiler technologies characterized by high efficiency, low emissions, and robust performance. With a commitment to innovation and quality, MHI continues to be a trusted partner for power generation projects worldwide.
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Europe, Asia-Pacific, Middle East and Africa, North America
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In September 2019, MITSUBISHI HEAVY INDUSTRIES, LTD. company received the contract for a waste heat recovery boiler for PASAR, a Copper Smelting and Refining plant located on Leyte Island in the Philippines. The company refurbished the waste heat recovery boiler operating at the plant. Through this contract, the company also strengthened its local servicing operations with the help of group company MHPS (Philippines) Inc.
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5.
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Valmet
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Valmet is a leading global supplier of technologies, automation, and services for various industries, including the power plant boiler market. They provide comprehensive solutions for boiler optimization, maintenance, and modernization, focusing on sustainability and efficiency. Valmet's extensive experience and innovative approach make them a preferred choice for power generation companies seeking reliable and cost-effective boiler solutions.
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Europe, North America, and Asia-Pacific
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In August 2021, Valmet was offered a contract to supply a multifuel boiler to Kipaş Kağit Sanayi Isletmeleri A.Ş paper mill in Turkey. The main objective of this upgrade contract was to improve the reliability of the paper mill’s steam, electricity supply, and steam production capacity. Through this contract, the company enhanced its presence in the Turkish market.
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Conclusion
The power plant boiler market, companies such as ANDRITZ, General Electric, Siemens, Mitsubishi Heavy Industries, Ltd., and Valmet stand out as key players. Their innovative technologies and diverse offerings play pivotal roles in shaping the future of energy generation. As global demand for reliable and sustainable power continues to rise, these companies remain at the forefront, driving advancements in efficiency, environmental responsibility, and operational excellence. With a shared commitment to innovation and sustainability, they collectively contribute to the evolution of the power generation industry, ensuring a resilient and prosperous energy future for generations to come.
