The global circulating fluid bed boilers market can expand at 2.5% CAGR from 2017 to 2023 (forecast period). Advantages associated with CFB boilers such as large load adjustment, excellent emission, and wide fuel flexibility are likely to lead to its high adoption.
Circulating Fluid Bed Boilers Market Prospects:
Circulating fluid bed boilers or circulating fluidized bed (CFB) boilers are technologies capable of reducing emission levels caused during the combustion of coal. The leaning towards sustainability and need for such processes in light of stringent regulations has evoked the need for CFB boilers.
The use of the technology can absorb close to 80% of pollutants before its release in the atmosphere. The global circulating fluid bed boilers market report by Market Research Future (MRFR) outlines various trends and drivers of the technology. The uptick in the demand for clean coal combustion technologies for large scale operations is expected to propel market growth till the end of the forecast period.
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Initiatives by various governments and environment-friendly organizations advocating its usage combined with minimal costs required for its setup can push its market demand exponentially. The compatibility of the technology with legacy and new-age power generation plants is a plus for the market. Automation of the process can lower sulfur and carbon dioxide emissions and bring down fire and health hazards considerably.
Key market players include Alstom SA, Shanghai Boiler Works Co., Ltd, Doosan Heavy Industries & Construction Company Limited, Thermax D Ltd, Alfa Laval AB, Bharat Heavy Electricals Limited, Mitsubishi Heavy Industries, Ltd, AE&E Nanjing Boiler Co., Ltd, Babcock & Wilcox Enterprises, Dongfang Boiler Group Co., Ltd., and others. Product launches and technological innovations are major strategies of companies within the market. Competition in the market can be attributed to boiler quality, eco-friendly quotient, energy efficiency, and price.
Global Circulating Fluid Bed Boilers Market Segmentation
The global circulating fluid bed boilers market is segmented by type, feedstock, and application.
By type, it is segmented into subcritical, supercritical, and ultra-supercritical. Supercritical and ultra-supercritical boilers can gain a superior market share till 2023 due to their integration in high performing megawatt plants. This can lead to high power output at low cost of emissions.
By feedstock, the circulating fluid bed boilers market it is segmented into biomass, feedstock, and coal. The coal segment is predicted to dominate in the market due to abundance of coal reserves coupled with strict emission regulations on power plants. This is exemplified by the commencement of the construction of coal-powered plants by San Miguel Corporation which will be equipped with CFB boilers.
By application, it is segmented into manufacturing, chemicals, oil & gas, and others. The oil & gas application is expected to exhibit a higher year-on-year growth rate till 2023 due to scaling of operations. On the other hand, the chemicals application can push the need for CFB boilers for increasing operational efficiency.
Circulating Fluid Bed Boilers Regional Industry Analysis
Geographically, the global circulating fluid bed boilers market covers Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW).
North America is the biggest region of the CFB boilers market followed by Europe. This can be attributed to high awareness levels of industry leaders to control gas emissions and enhance operational efficiency.
The APAC region can account for a major market share till 2023 due to the rapid industrialization in China and India. Infrequent supply of electricity is likely to induce demand for CFB boilers coupled with rise in R&D activities can drive the regional market growth.
Osaka Gas Group has agreed to integrate the technology of CFB boilers manufactured by Doosan Lentjes, a waste-to-energy solutions provider from Germany. The plant will be fully functional by 2022 and capable of burning wood pellets. In addition, installation of other equipment will assist in controlling emission levels in adherence to domestic policies.
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