Circulating Fluidized Bed (CFB) Boilers Market 2021 Size to Grow Significantly Through 2028
CFB boilers operate at relatively lower temperatures as compared to conventional boilers, reducing the gas emission levels considerably. Low emission of gases such as carbon dioxide, sulfur dioxide and nitrogen dioxide make CFB boilers environmentally friendly which is a key driver for the circulating fluidized bed (CFB) boilers market growth. Additionally, flexibility in use of fuels reduces the burden on depleting reserves of coal, as CFB encourages the use of other fuels. The CFB boilers also reduce the operational cost of boilers and power plants, which is another driving factor for the market.
By product, circulating fluidized bed (CFB) boilers market is segmented as subcritical CFB boilers, supercritical CFB boilers and ultra supercritical CFB boilers. It is expected that supercritical and ultra supercritical boilers would have a higher market share than subcritical boilers. Supercritical and ultra supercritical boilers are used in high to very high megawatt plants; therefore, the CFB boilers used in these plants use highly advanced technologies to provide fuel efficiency and reduce gas emission.
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By application, circulating fluidized bed (CFB) boilers market is segmented into oil and gas industry, chemical industry, general industry and others (paper and pulp production, beverage). The oil and gas industry is using CFB boilers on a larger scale in their routine operations as compared to other industry verticals; therefore, it would have the highest revenue in the market. The chemical industry is expected to increase the use of CFB boilers due to operational efficiency and reduced gas emission. Therefore, it is projected that the chemical industry would have the highest growth rate in the market.
By geographic, circulating fluidized bed (CFB) boilers market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American market is the most mature market for CFB boilers as companies in this region adopted the CFB technology much earlier due to stringent gas emission laws and control operational cost. The Asia-Pacific region has the highest demand for energy, as most countries in this region are developing countries and industrial energy needs are very high. Therefore, it is expected that the CFB boilers market would have the highest demand in this region.
Product launches is the key strategy adopted by most companies in the circulating fluidized bed (CFB) boilers market to increase market share. Some of the key companies profiled in this report are Alfa Laval Aalborg A/S, Alstom, AE&E Nanjing Boiler Co. Ltd., BHEL, Formosa Heavy Industries Corp., Foster Wheeler, DongFang Boiler, Mitsubishi Heavy Industries Ltd., Shanghai Boiler Works Co. Ltd, Thermax and Harbin Boiler Co. Ltd.
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• This report analyses the factors that are driving and limiting the growth of the circulating fluidized bed (CFB) boilers market.
• Circulating fluidized bed (CFB) boilers market estimations are done according to the market trends for the period 2021-2028 with 2021 as base revenue
• Analysis of key strategies adopted by market players is elaborated to provide in-depth understanding of the market dynamics
• Deep-dive analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
• In-depth analysis of segments such as products and end-users provide insights that would allow companies to gain competitive edge
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