Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "Circulating Fluidized Bed Boiler Market by Product, Capacity, Fuel Type, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global circulating fluidized bed (CFB) boiler market size reached US$ 770 Million in 2023. Looking forward, the publisher expects the market to reach US$ 1,150 Million by 2032, exhibiting a growth rate (CAGR) of 4.59% during 2023-2032. The escalating demand for large-scale energy generation across the globe, favorable government initiatives promoting the production and usage of clean energy, and considerable growth in the oil and gas industry represent some of the key factors driving the market.
Circulating fluidized bed (CFB) boilers refer to industrial boilers which are designed to provide high gas velocity in the furnace and provide maximum flexibility in burning fuels of varying flammability. They are capable of combusting different fuel compounds such as bituminous coal, brown coal, sludge, RPF (refuse paper and plastic fuel), waste tires, wood biomass, anthracite, and petroleum coke. In addition to this, these boilers offer higher combustion efficiency than conventional bubbling fluidized bed (BFB) boilers. CFB reactors address the heat removal issues that affect a fixed bed reactor and are used for coal combustion to achieve low emission standards. Circulating fluidized bed boilers are therefore an environmentally friendly alternative to coal-fired boilers as they aid in reducing carbon emissions. As a result, CFB boilers are primarily used for power generation, which effectively reduces carbon emissions. In addition to this, they provide fuel flexibility by effectively using low-grade coal and other industrial waste products to generate power.
Circulating Fluidized Bed (CFB) Boiler Market Trends:
The escalating demand for large-scale energy generation across the globe is a significant factor that is driving the market. This can be attributed to a considerable rise in investments for the upgradation of industrial facilities, particularly in the developing economies. In line with this, favorable government initiatives promoting the production and usage of clean energy are providing an impetus to the market. Also, the augmenting need for reduced NOx (oxides of nitrogen) and COx (oxides of carbon) emissions on the global level is resulting in a higher uptake of CFB boilers across numerous end-use industries.
However, the high maintenance cost of CFB boilers, lower possibility of casting materials and the depletion of fossil fuels are acting as major growth-restraining factors for the market. On the contrary, the usage of lower amount of fuel as compared to the higher amount of high temperature materials present inside CFB boiler chambers is creating a positive outlook for the market. Apart from this, the market is further fueled by considerable growth in the oil and gas industry. Some of the other factors contributing to the market include rapid urbanization and industrialization, proliferation of the manufacturing industry, rising environmental concerns, and extensive research and development (R&D) activities conducted by the key players.
Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global Circulating Fluidized Bed (CFB) boiler market, along with forecasts at the global, regional, and country level from 2023-2032. Our report has categorized the market based on product, capacity, fuel type, and application.
Product Insights
- Subcritical
- Supercritical
- Ultra-supercritical
The report has provided a detailed breakup and analysis of the Circulating Fluidized Bed (CFB) boiler market based on the product. This includes subcritical, supercritical, and ultra-supercritical. According to the report, subcritical represented the largest segment.
Capacity Insights
- Less than 100 MW
- 100-200 MW
- 200-300 MW
- 300 MW and Above
The report has provided a detailed breakup and analysis of the Circulating Fluidized Bed (CFB) boiler market based on the capacity. This includes less than 100 MW, 100-200 MW, 200-300 MW, and 300 MW and above. According to the report, 100-200 MW represented the largest segment.
Fuel Type Insights
- Coal
- Biomass
- Others
The report has provided a detailed breakup and analysis of the Circulating Fluidized Bed (CFB) boiler market based on the fuel type. This includes coal, biomass, and others. According to the report, coal represented the largest segment.
Application Insights
- Energy and Power
- Industrial
- Others
A detailed breakup and analysis of the Circulating Fluidized Bed (CFB) boiler market based on the application has also been provided in the report. This includes energy and power, industrial, and others. According to the report, energy and power accounted for the largest market share.
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Companies Mentioned
- Andritz AG
- Babcock & Wilcox Enterprises Inc.
- Formosa Heavy Industries Corp. (Formosa Plastics Corporation)
- General Electric Company
- Industrial Boilers America
- JFE Engineering Corporation (JFE Holdings Inc.)
- Rafako S.A.
- Shanghai Electric
- Sumitomo Heavy Industries Ltd.
- Valmet Oyj
- Wuxi ZOZEN Boiler Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/makraz
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