- Significant advancements in large-scale circulating fluidized bed boilers to open profitable avenues
- Flexibility with respect to different fuels and the advantage of near-zero emission key underpinnings of rapid adoption of CFB boilers
ALBANY, N.Y., April 22, 2022 /PRNewswire/ -- Circulating fluidized bed (CFB) boilers are gaining traction in modern power generation, mainly due to their improved combustion efficiency and flexibility in the choice of fuels. The global circulating fluidized bed (CFB) boilers market was estimated at the volume of 116.7 GWe in 2020, and authors of a TMR study has projected the valuation to expand at CAGR of 12.2% during 2021-2031.
CFB technology has gained widespread attention among oil and gas companies since the technology enables them to overcome limitations of standard fluidized-bed reactors. The rapid pace of uptake in the end-use industry has propelled sizable revenue generations over the past few years. Emphasis on adoption of clean coal technology has propelled sales avenues in the circulating fluidized bed (CFB) boilers market.
The advantage of choice from a wide range of fuels including bituminous coal, biomass, anthracite, waste tires paper sludge, and petroleum coke has helped end users offset the high cost of maintenance, catalylzing the expansion of the circulating fluidized bed (CFB) boilers market. One of the key factors that make CFB a clean technology is its high SO2 removal efficiencies and ability to remove other harmful emissions.
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Key Findings of Circulating Fluidized Bed (CFB) Boilers Market Study
- Low Emission and Clean Coal Technologies Propelling Adoption: The increasing trend of coal energy systems in clean power generation has spurred the adoption of CFB boilers. They have rapidly gained preference over bubbling fluidized bed boilers. Growing number of inferior CFB boilers has led to increased utilization of gangue and coal slime, anthracite, petroleum coke, oil shale, and high sulfur coal, thereby expanding profitable avenues in the circulating fluidized bed (CFB) boilers market. The utilization of low-grade fuels expanding commercialization avenue is bolstering the uptake.
- Fuel Flexibility Key Advantage: The high cost of maintenance in relation to standard fluidized-bed reactors has impeded the mass adoption of products in the circulating fluidized bed (CFB) boilers market. To offset the cost, there is a need for scaling up of the equipment. Indeed, the introduction of large-scale circulating fluidized bed boilers is bolstering the revenue possibilities in the market, assert the analysts in an in-depth study on the circulating fluidized bed (CFB) boilers market. In this regard, continuing advancements in design and scale-up methods have favored the market prospects.
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Circulating Fluidized Bed (CFB) Boilers Market: Key Drivers
- The increasing trend of efficient utilization of low-cost fuels in the power generation has propelled the preference of CFB technology, thus driving the expansion of circulating fluidized bed (CFB) boilers market
- Growing adoption of clean coal technologies in the oil and gas industry is bolstering the demand potential of circulating fluidized bed (CFB) boilers. The trend is driven by soaring demand for energy in industrialized nations.
Circulating Fluidized Bed (CFB) Boilers Market: Regional Growth Dynamics
- North America is a lucrative region in the global circulating fluidized bed (CFB) boilers market. The revenue generation is led by massive avenues in the U.S. The expansion has been fueled by the widespread adoption of clean coal engineering technologies among end users the oil and gas, manufacturing, and chemical industries
- Asia Pacific contributed a leading share to the global market in 2020. The Asia Pacific circulating fluidized bed (CFB) boilers market is projected to expand at a CAGR of over 12.7% during the forecast period of 2021-2031.
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Circulating Fluidized Bed (CFB) Boilers Market: Key Players
The authors of the TMR study on the circulating fluidized bed (CFB) boilers market have found that the landscape is highly consolidated with a few leading players holding sizable shares. Some of the key players in the circulating fluidized bed (CFB) boilers are
- Thermax. Ltd.
- Shanghai Boiler Works Co., Ltd.
- Mitsubishi Heavy Industries, Ltd.
- Metso Oyj
- Amec Foster Wheeler plc
- Doosan Heavy Industries
- DongFang Boiler Group Co. Ltd.
- Babcock & Wilcox Enterprises, Inc.
- AE&E Nanjing Boiler Co. Ltd.
- Alstom SA.
- Alfa Laval AB
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Global Circulating Fluidized Bed (CFB) Boilers Market: Segmentation
Circulating Fluidized Bed (CFB) Boilers Market, by Type
- Subcritical
- Supercritical
- Ultra-supercritical
Circulating Fluidized Bed (CFB) Boilers Market, by Application
- Oil & Gas
- Chemicals
- Manufacturing
- Others (including Utility and Industrial)
Circulating Fluidized Bed (CFB) Boilers Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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