Circulating Fluidized Bed Boiler
Description
The Circulating Fluidized Bed Boiler Market is experiencing a robust growth rate of 10.78% during the forecast period (2025-2033F). The use of circulating fluidized bed (CFB) boilers in the world market is constantly growing as the demand for cleaner and efficient energy generation technologies and the tightening of environmental requirements are on the rise. CFB boilers are considered to be very efficient and versatile combustion systems that can burn a very large range of fuels, including low-grade coal, biomass, and waste materials, which makes them a very appealing system to use in the area of sustainable energy generation. As the interest in minimizing carbon emissions and switching to renewable and hybrid fuel systems grows, the CFB boiler segment is developing at a very high rate, at a time when industries and power plants are in search of an alternative to traditional boilers that are reliable with low emissions. The latter trend in growth is closely connected with the growing demand for energy in developing economies and the transition of the world to the processes of cleaner industries. Furthermore, the ever-improving technological development, in terms of enhanced combustion efficiency and a heat recovery system, is adding value to the market's growth. There are also new designs and capacity innovations in the market, with CFB boilers now being manufactured in different sizes and configurations to meet the different industrial and utility-scale requirements around the world.
- Based on Product, the global circulating fluidized bed (CFB) boiler market is segmented into Ultra-Supercritical, Supercritical, and Subcritical. In 2024, the Ultra-Supercritical segment is anticipated to hold the largest market share and continue to dominate throughout the forecast period. This is largely attributed to its high efficiency, less fuel consumption, and low emissions that are in line with international efforts of sustainable and clean energy production. Ultra-supercritical CFB boilers are designed with higher pressure and temperatures, thus having higher thermal efficiency and minimized carbon footprints, which makes them the choice of large-scale power generation projects. The Supercritical segment is also experiencing consistent growth due to the growing investments in the modern power infrastructure and the progressive substitution of traditional boilers with more effective ones. The boilers are supercritical, and the cost of their operation is moderate, which makes them appropriate to both industrial and utility-scale use, where the performance and cost optimization are paramount.
- Based on Capacity, the global Circulating Fluidized Bed (CFB) Boiler market is segmented into Less than 100 MW, 100–200 MW, and 300 MW & Above. In 2024, the 100–200 MW segment is anticipated to hold the largest market share and continue to lead throughout the forecast period. This is due to the fact that boilers of this size provide a perfect balance of power output, fuel flexibility, and operating efficiency, which makes them very well adapted to medium-sized industrial and utility processes. They are also favored in the emerging economies, where projects of medium-scale power generation are on the rise as a result of rising energy demand. The Less than 100 MW market is gaining momentum with a growing frequency of demand as a result of the growing need for small and captive power plants, industrial plants, and process industries in need of reliable and cost-effective energy solutions. Meanwhile, the 300 MW and Above segment will have the highest CAGR during the forecast period. This has been facilitated by the increasing character of huge power generation schemes, particularly in the developing economies, and the global propensity towards large capacity and ultra-supercritical technologies to increase efficiency and minimize emissions.
- Based on Fuel Type, the global Circulating Fluidized Bed (CFB) Boiler market is segmented into Coal, Biomass, and Others. In 2024, the Coal segment is anticipated to hold the largest market share and continue to lead throughout the forecast period. The reason is that the CFB boilers continue to utilize coal as a fuel source at a high usage rate, and it is also readily available, as well as the technology has high fuel flexibility, even when using lower-grade coal. The purpose of CFB boilers is to burn low-grade and high-ash coals, as well as other problematic fuels, in a very efficient manner. This versatility increases their economic efficiency and broadens their use in the areas that rely on local coal supplies. The increased thermal efficiency and reduced fuel consumption in ultra-supercritical and supercritical CFB designs allow coal-based CFB boilers to be competitive and environmentally compliant. In the meantime, the other segment will exhibit the highest CAGR throughout the forecast period.
- Based on Application, the global Circulating Fluidized Bed (CFB) Boiler market is segmented into Industrial, Energy & Power, and Others. In 2024, the Energy & Power segment is expected to maintain a dominant position in the market. This is due to the increased global need for more efficient and cleaner power generation technologies, which have increased investment in utility-scale thermal power facilities. The suitability of CFB boilers in this industry is that they allow the combustion of various types of fuels, reduce emissions, and are more efficient than traditional combustion systems. CFB technology is also being embraced by governments and energy producers in order to comply with the high environmental standards and to improve the sustainability of large-scale power generation. The Industrial sector too is steadily increasing as more and more CFB boilers are being utilized in the cement, chemical, paper, and metallurgy industries in the process of heat generation and captive power generation. The choice of CFB systems in these industries is due to the flexibility of operation, flexibility of fuel, and reduced maintenance, which only serve to make the systems cost-effective, as well as enhancing energy security.
- For a better understanding of the market of the circulating fluidized bed boiler market, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is projected to have a majority share of the global CFB boiler market in 2024 and is projected to lead the market during the forecast period. The major causes of this hegemony are the increasing industrialization, urbanization, and energy demand in the region, particularly in nations such as China and India. The existence of a large base of coal-powered plants and the extensive projects on the renewable integration have also reinforced the leadership role of the region. Asia-Pacific governments are also vigorously supporting the use of clean and efficient energy systems, and CFB boilers are spreading their tentacles because of their capacity to support a wide variety of fuel sources, such as low-grade coal and biomass, with minimal emission levels. The growth in heavy industries and the supportive policies of the government in encouraging the cleaner generation of power further increase the market growth. In addition, lower cost of installation and operation has been brought about by technological improvement and the ability of local manufacture, thus making CFB boilers the best option in this region. As the region invests more in energy infrastructure and concentrates on sustainable power supply, the Asia-Pacific region will continue to be the strongest and most vibrant market for CFB boilers in the world.
- Some of the major players operating in the market include Sumitomo Heavy Industries, Ltd., Valmet, ANDRITZ, MITSUBISHI HEAVY INDUSTRIES, LTD., JFE Engineering Corporation, Alstom SA, Babcock & Wilcox Enterprises, Inc., Doosan Lentjes, Bharat Heavy Electricals Limited, and Isgec Heavy Engineering Ltd.
Table of Contents
135 Pages
- 1 Market Introduction
- 1.1. Market Definitions
- 1.2. Main Objective
- 1.3. Stakeholders
- 1.4. Limitation
- 2 Research Methodology Or Assumption
- 2.1. Research Process of the Circulating Fluidized Bed Boiler Market
- 2.2. Research Methodology of the Circulating Fluidized Bed Boiler Market
- 2.3. Respondent Profile
- 3 Executive Summary
- 3.1. Industry Synopsis
- 3.2. Segmental Outlook
- 3.2.1. Market Growth Intensity
- 3.3. Regional Outlook
- 4 Market Dynamics
- 4.1. Drivers
- 4.2. Opportunity
- 4.3. Restraints
- 4.4. Trends
- 4.5. PESTEL Analysis
- 4.6. Demand Side Analysis
- 4.7. Supply Side Analysis
- 4.7.1. Merger & Acquisition
- 4.7.2. Investment Scenario
- 4.7.3. Industry Insights: Leading Startups and Their Unique Strategies
- 5 Pricing Analysis
- 5.1. Regional Pricing Analysis
- 5.2. Price Influencing Factors
- 6 Global Circulating Fluidized Bed Boiler Market Revenue (USD Bn), 2023-2033F
- 7 Market Insights By Product
- 7.1. Ultra-supercritical
- 7.2. Supercritical
- 7.3. Subcritical
- 8 Market Insights By Capacity
- 8.1. Less than 100MW
- 8.2. 100-200 MW
- 8.3. 300 MW & Above
- 9 Market Insights By Fuel Type
- 9.1. Biomass
- 9.2. Coal
- 9.3. Others
- 10 Market Insights By Application
- 10.1. Industrial
- 10.2. Energy & Power
- 10.3. Others
- 11 Market Insights By Region
- 11.1. North America
- 11.1.1. The US
- 11.1.2. Canada
- 11.1.3. Rest of North America
- 11.2. Europe
- 11.2.1. Germany
- 11.2.2. The UK
- 11.2.3. France
- 11.2.4. Italy
- 11.2.5. Spain
- 11.2.6. Rest of Europe
- 11.3. Asia-Pacific
- 11.3.1. China
- 11.3.2. Japan
- 11.3.3. India
- 11.3.4. Rest of Asia-Pacific
- 11.4. Rest of World
- 12 Value Chain Analysis
- 12.1. Marginal Analysis
- 12.2. List of Market Participants
- 13 Competitive Landscape
- 13.1 Competition Dashboard
- 13.2. Competitor Market Positioning Analysis
- 13.3. Porter Five Forces Analysis
- 14 Company Profiles
- 14.1. Sumitomo Heavy Industries, Ltd.
- 14.1.1. Company Overview
- 14.1.2. Key Financials
- 14.1.3. SWOT Analysis
- 14.1.4. Product Portfolio
- 14.1.5. Recent Developments
- 14.2. Valmet
- 14.3. ANDRITZ
- 14.4. MITSUBISHI HEAVY INDUSTRIES, LTD.
- 14.5. JFE Engineering Corporation
- 14.6. Alstom SA
- 14.7. Babcock & Wilcox Enterprises, Inc.
- 14.8. Doosan Lentjes
- 14.11. Bharat Heavy Electricals Limited
- 14.11. Isgec Heavy Engineering Ltd.
- 15 Acronyms & Assumption
- 16 Annexure
Pricing
Currency Rates
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