London, 05 Oct 2015 – Technavio, a tech-focused research firm, has published a new report on the global power boiler market, which is expected to grow at a CAGR of more than 4% from 2015-2019.
According to the new market research report by Technavio, the growth of industrialization and rising standards of living have led to an increasing demand for energy worldwide. The increase in population is another major factor propelling the global demand for energy, which can be met with the help of power boilers.
“The dependency on coal-fired power generation, due to their capability of providing uninterrupted power supply will drive the power boiler market during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The new report by Technavio also underlines the growing demand from emerging economies such as India, China, and Taiwan, which are experiencing rapid industrialization. The governments in these countries have taken several initiatives to improve their infrastructure by making huge investments in the power industry.
“Additionally, several independent power producers are establishing more electricity generation plants mainly to meet the rising domestic power needs, which will fuel the growing use of power boilers across developing countries,” adds Ghaus.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
