Global Circulating Fluidized Bed Boiler Market – Industry Trends and Forecast to 2029

Global Circulating Fluidized Bed Boiler Market, By Product (Subcritical, Supercritical, Ultra-Supercritical), Capacity (Less than 100 MW, 100–200 MW, 200–300 MW, 300 MW, Above), Fuel Type (Coal, Biomass, Others), Application (Energy and Power, Industrial, Others) – Industry Trends and Forecast to 2029.

Circulating Fluidized Bed Boiler Market Analysis and Size

Nowadays energy management is a global project and in the upcoming years. Boilers produce steam which is used to provide process heat and space heat. Circulating fluidized bed boiler possesses several key advantages such as excellent emission performance, fuel flexibility and large range of load adjustments. Also, increasing demand for cleaner combustion and cost-efficient technology coupled with stringent environmental regulations has insisted on looking for energy-efficient power generation. Moreover, compared to conventional boilers, minimum capital costs involved in the setup and operation of CFB boilers act as major driving factor for the growth of the circulating fluidized bed boiler market. Moreover, rapid growth of the oil and gas industry due to increase in awareness and investments toward the benefits of clean energy in developing countries considerably contributes to the growth of the global circulating fluidized bed boiler market. 

Global circulating fluidized bed boiler market was valued at USD 525.00 million in 2021 and is expected to reach USD 1,046.10 million by 2029, registering a CAGR of 9.00% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes technological advancements, regulatory framework, PESTEL, porter's five forces analysis, industry standards-at a glance, raw material costs/ operational expenditure-overview, supply chain analysis, vendor selection criteria, pricing analysis, production analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Circulating fluidized bed (CFB) boilers use all types of solid fuels, from refuse derived fuel to biomass (RDF), to produce reliable and efficient clean energy. Fuel flexibility is an important part of this CFB technology which contributes to reducing CO 2 emissions, while using local alternative CFB boilers also support fuels compared to bubbling fluidized bed boilers. These boilers are used with petroleum coke, paper sludge, RPF, biomass, anthracite, bituminous coal and waste tires. 

Circulating Fluidized Bed Boiler Market Dynamics

Drivers

• High efficiency of circulating fluidized bed boilers

Circulating fluidized bed boilers deliver high efficiency in coal fired power by decreeing the emission of greenhouse gases (GHG). This also leads to the high steam efficiency, which further provide better performance. Furthermore, there are possibilities that more regions, and countries may adopt this type of coal-powered fluidized bed boilers for the reduction of carbon emissions. This is expected to drive the growth of the global circulating fluidized bed (CFB) boilers market in the forecast period.

• High power demand for circulating fluidized bed (CFB) boilers in oil and gas industry

The demand for the installation of CFB boilers is the maximum in the oil and gas industry because it is one of the major power consumers. This industry is anticipated to remain the leading application segment in the global circulating fluidized bed (CFB) boilers market. However Transparency Market Research (TMR) analysts expect that the application of CFB boilers to considerably increase across manufacturing and chemical industries.

Moreover, the utilization of reliable and efficient clean energy will encourage the manufacturer to expand their circulating fluidized bed boiler industry. Factors such as increasing industrialization, rapid urbanization, and the growing awareness regarding the benefits of using circulating fluidized bed boiler will further foster the market's growth rate.

Opportunities

• Increasing favourable government initiatives and policies

Eco-friendly initiatives by the government are projected to increase the expansion rate of the circulating fluidized bed boiler market over the forecast period. Governments offer various incentives that are lowering the expenses of component used in the production of circulating fluidized bed boiler and predicted to improve the market for circulating fluidized bed boiler. As a result, the favorable government rules and policies associated with green energy initiatives and the carbon footprint reduction create immense and various opportunities for the circulating fluidized bed boiler market.

Furthermore, infrastructural development, massive requirement of energy generation and rapid Industrialization are at the forefront for several regions, especially highly populated countries such as India and China are also some major factors which will create lucrative opportunities for the expansion of the circulating fluidized bed (CFB) boilers market.

Restraints/Challenges

• High Overall Cost

The growth rate of the circulating fluidized bed boiler market is slowed due to its high installment cost. Furthermore, there are many other logistical challenges associated with the circulating fluidized bed boiler. The high initial cost associated with installation and maintenance of circulating fluidized bed boiler is hampering the growth of the circulating fluidized bed boiler market.

This circulating fluidized bed boiler market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the circulating fluidized bed boiler market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Circulating Fluidized Bed Boiler Market

The outbreak of COVID-19 pandemic has affected several industries and nations due the imposed of lockdowns, temporary ban by government on import, export, manufacturing and processing activities across the globe. Furthermore, funding for R&D activities and installation of circulating fluidized bed boiler plants on development of circulating fluidized bed boiler were on hold. This resulted in decrease in the growth of the circulating fluidized bed boiler market in the second, third, and fourth quarters of 2020. However, the circulating fluidized bed boiler market is anticipated to recover by the second quarter of 2021 as COVID-19 vaccination began in many economies of overall globe, which is anticipated to recover global economy, manufacturing operations and restarts R&D facilities in the circulating fluidized bed boiler market.

Recent Developments

• In April 2022, Advanced Emissions Solutions announced its quarterly earnings data. The company has reported approx USD 0.31 EPS for the quarter. It had a return on 63.35 % net margin and equity of 45.86 %. The company has reached a revenue of USD 25.76 million during the quarter.
• In April 2022, in the U.S. Advanced Emissions Solutions, Inc, with its subsidiaries, delivers environmental and speciality chemicals technologies. The company works on Refined Coal and Advanced Purification Technologies. It also provides CyClean technology which is a pre-combustion coal treatment process to increase the combustion and decrease emissions of mercury and nitrogen oxide from coals burned in cyclone boilers. The M-45-PC and M-45 technologies are for the combustion of coal treatment technologies. It is used for regulating the emissions from pulverized coal boilers and circulating fluidized bed boilers.

Global Circulating Fluidized Bed Boiler Market Scope

The circulating fluidized bed boiler market is segmented on the basis of product, capacity, fuel type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Subcritical
• Supercritical
• Ultra-Supercritical

Capacity

• Less than 100 MW
• 100–200 MW
• 200–300 MW
• 300 MW
• Above

 Fuel Type

• Coal
• Biomass
• Others

Application

• Energy and Power
• Industrial
• Others

Circulating Fluidized Bed Boiler Market Regional Analysis/Insights

The circulating fluidized bed boiler market is analyzed, and market size insights and trends are provided by country, product, capacity, fuel type and application as referenced above.

The countries covered in the circulating fluidized bed boiler market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the circulating fluidized bed boiler market in terms of market revenue and market share and due to the favorable government regulations and increasing demand for energy as a result of rapid industrialization in this region.

North America is the fastest growing region and shows lucrative growth over the forecast period of 2022 to 2029 due to the importance of clean energy and better awareness among end users in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Circulating Fluidized Bed Boiler Market Share Analysis

The circulating fluidized bed boiler market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to circulating fluidized bed boiler market.

Some of the major players operating in the circulating fluidized bed boiler market are

• Babcock & Wilcox Enterprises, Inc. (U.S.)
• John Wood Group PLC (U.K.)
• Bharat Heavy Electricals Limited (India)
• IHI Corporation (Japan)
• Mitsubishi Hitachi Power Systems, Ltd. (Europe)
• Thermax Limited (India)
• ANDRITZ (Austria)
• Siemens (Germany)
• ALFA LAVAL (Sweden)
• General Electric (U.S.)
• Hurst Boiler & Welding Co, Inc. (U.S.)
• Bryan Steam (U.S.)
• Superior Boiler Works, Inc. (U.S.)
• Vapor Power (U.S.)
• Sofinter S.p.a (Italy)
• Cleaver-Brooks, Inc (U.S.)
• ZOZEN boiler Co., Ltd. (China)

 

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