The fuel-flexible boiler market share will post an incremental growth of USD 1.26 billion, decelerating at a CAGR of 4.47% during the forecast period. The increasing need for natural gas thermal power generation will offer immense growth opportunities to market vendors. The fuel-flexible boiler market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Fuel Flexible Boiler Market by End-user and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The fuel-flexible boiler market is segmented by end-user (food and beverages, chemicals and petrochemicals, pulp and paper, oil and gas, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The growth of the fuel flexible boiler market size in the food and beverages segment will be significant during the forecast period. The increasing urbanization and industrial development, particularly in emerging economies such as China, India, Malaysia, Thailand, and Vietnam will drive the market growth in APAC. 48% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for fuel flexible boilers in APAC.
The increasing need for natural gas thermal power generation will directly influence the sales of fuel flexible boiler market. In addition, the shifting trends toward low-emission natural gas is one of the major fuel flexible boiler market trends that will positively impact the market growth. However, factors such as the resistance to slagging, fouling, and corrosion will hamper the fuel flexible boiler market growth.
The market is fragmented due to the presence of several players. Some of the major fuel flexible boiler market vendors are AE and E Nanjing Boiler Co. Ltd., Alfa Laval Corporate AB, ALSTOM SA, Andritz AG, Babcock and Wilcox Enterprises Inc., Bharat Heavy Electricals Ltd., Cheema Boilers Ltd., Doosan Heavy Industries and Construction Co. Ltd., Fluor Corp., General Electric Co., Larsen and Toubro Ltd., Mitsubishi Heavy Industries Ltd., Parker Boiler Co., RAJDEEP BOILER PVT. LTD., Shanghai Electric Group Co. Ltd., Thermax Ltd., ThyssenKrupp Industries India Pvt. Ltd., Walchandnagar Industries Ltd., Zhengzhou Boiler (Group) Co. Ltd., and Siemens AG.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the fuel flexible boiler market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the fuel flexible boiler market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the fuel flexible boiler market.
Fuel flexible boiler industry growth across APAC, Europe, North America, Middle East and Africa, and South America.