Boiler Turbine and Generator (BTG) Market Report Focus On Landscape | Current And Future Development 2023-2030

The global Boiler Turbine and Generator (BTG) Market size was worth around USD 59.86 Billion in 2022 and is predicted to grow to around USD 77.20 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.4% between 2023 and 2030.

The study examines the drivers, restraints, and challenges facing the global boiler turbine and generator (BTG) market as well as how they will affect demand during the forecasted period. The paper also looks at new potential in the boiler, turbine, and generator sector.

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Overview of the global boiler, turbine, and generator (BTG) market

A boiler turbine generator is an apparatus that rotates the shaft of the turbine’s electrical coupling while using the high pressure contained within the boiler to drive turbine blades. In thermal power plants, boiler turbine and generators (BTG) are primarily utilised to produce electricity. In an electric turbine, the rotating fluid (such as air, water, steam, combustion gases, or steam) forces the rotor shaft’s grinding teeth. The fluid between the blades of the generator’s rotor shaft rotates. The generator creates electricity from the rotor’s kinetic energy.

Key Findings :

• According to our research analyst’s view, the global boiler turbine and generator (BTG) market is anticipated to expand at a CAGR of about 3.4% from 2023 to 2030.

• The size of the global boiler turbine and generator (BTG) market in terms of revenue was estimated to be approximately 59,860.32 million USD in 2022 and is expected to increase to 77,202.62 USD by 2030.

• Boiler Turbine and Generator (BTG) market growth will be accelerated throughout the forecast period by the rapid expansion of power plants in developing nations and the industrialisation of those nations.

an increase in the need for power in underdeveloped nations

In developing countries, a greater amount of power is needed due to the expanding population. Electricity demand is being accelerated by the increased use of electrical appliances. Additionally, the industrial sector needs energy to run equipment for heating, cooling, and ventilation as well as industrial motors, machinery, lighting, computers, and office supplies. The need for food grows as a nation expands, which encourages more intensive farming methods.

In order to run the engines and give lighting and heat, these techniques need additional energy. Furthermore, there is an increase in the amount of energy needed for food production, processing, and transportation. Studies conducted as part of the Generation Expansion Planning indicate that by the year 2022, a significant portion of India’s installed capacity will be based on sources other than fossil fuels.

growing number of government regulations

Global economic expansion won’t bring about viable possibilities for renewable energy production. As a result, the demand for BTG products may decrease and the use of coal and natural gas for power generation may grow.

On the other hand, it is anticipated that during the projection period, growing renewable energy capacity will restrain the growth of the boiler turbine and generator business. Additionally, the government has put a number of restrictions on how boiler, turbine, and different generator plants can operate. Hazardous gases that directly impact human health as well as the environment and cause environmental contamination are the rationale behind these rules. The Central Pollution Control Board (CPCB) did, however, modify the particulate matter emission guidelines for industrial boilers with a capacity of less than

Technology advancements and emerging markets are producing profitable opportunities.

Utilising supercritical and ultra-supercritical boilers effectively can have a direct impact on growth, spur technical innovation, and open up new markets for goods. Customers must spend a lot of money to upgrade their equipment, which is predicted to make expansion more difficult. But during the course of the projection period, the development of the electric power sector in African nations like Ghana, Angola, and Nigeria is also projected to have a beneficial effect on the boiler turbine & generator market.

Cost of BTG is high

When used in load positions, steam turbines are less effective than reciprocating machinery. They require more time to start than gas turbines, and unquestionably more time than traditional engines. Compared to gas turbines and reciprocating engines, they are also less susceptible to variations in electricity demand. As a result, the market for boiler turbines and generators is being constrained by the drawbacks of steam turbines, such as their slow reaction, subpar performance, extended startup time, high cost, etc.

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The Global Boiler Turbine and Generator (BTG) Market is segmented based on product, application and region.

Global Boiler Turbine and Generator (BTG) Market: Product Segment Analysis

● Power Boilers
● Gas Turbines
● Steam Turbines
● Turbo Generators
● Heat Recovery Steam Generators

Global Boiler Turbine and Generator (BTG) Market: Application Segment Analysis

● Power Plants
● Others

Recently Occurring Events :

• The MoU between Honeywell and Hindustan Aeronautics Limited (HAL) was announced by Honeywell in September 2022. In order to enable a turbogenerator that can power hybrid-electric aircraft, including classic airframes, and urban air mobility vehicles, the company will deliver its 1-megawatt electric machine.

• Rolls-Royce created a new compact engine for hybrid-electric aviation applications as part of their turbogenerator technology, which was developed in June 2022. The solution will enable a wider variety of environmentally friendly aircraft fuels and complement the Rolls-Royce Electrical propulsion portfolio.

The global boiler turbine and generator (BTG) market is dominated by players like:

● Vestas
● Enercon
● Siemens
● General Electric
● Atlas Copco
● Caterpillar
● Ingersoll Rand
● Kirloskar
● Bosch
● Mitsubishi Heavy Industries Limited
● Dongfang Electric Corporation

The market is anticipated to be dominated by Asia Pacific over the forecast period.

Due to rising energy demand and consumption in nations like China, India, and Japan, the Asia Pacific region is anticipated to dominate the global boiler turbine and generator market throughout the forecast period. Due to their larger coal reserves, China and India produce the majority of their electricity through thermal power plants. As a result, the world’s two largest markets for boiler turbines and generators are China and India.

Additionally, the Asia Pacific boiler turbine and generator market is expanding due to the region’s expanding economy, urbanisation, and rising energy demand. The general market is also being driven by a rise in demand for power in the area as a result of industrial development, an availability of coal reserves, and ageing electricity infrastructure. Additionally, the targeted market is growing as a result of enhanced technological innovation in power generation technologies and quick commercialization applications.

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