Circulating Fluidized Bed Boiler Market, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, India, Brazil, Argentina, Saudi Arabia, Egypt, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3503
The global circulating fluidized bed boiler market is anticipated to grow owning to increasing demand for power across the developing nations. Ongoing investment toward the expansion & modernization of industrial facilities along with increasing adaption of cleaner and cost-efficient technology will positively influence the business landscape. Furthermore, rising demand for bioenergy owning to increasing adoption of renewable energy sources will further propel the business growth.
Introduction of numerous government regulations toward monitoring and control of industrial pollution coupled with the growing adoption of energy efficient technologies will further stimulate the circulating fluidized bed boiler market. For instance, the European Union target of 40% reduction of Green House Gas (GHG) emissions by 2030 compared to 1990 levels. These targets set will enhance the replacement of existing high-emission fuel boilers with advanced CFB systems.
The ability to operate at lower temperature when compared with conventional steam generation systems along with multi-fuel combustion capacity will stimulate the circulating fluidized bed boiler market size. Ease of compatibility with wide range of conventional as well as unconventional fuels including coal, petro-coke, biomass, wood and industrial & agricultural waste will complement the business outlook. In addition, high thermal efficiency coupled with less capital cost involved in installation and operation are some of the key parameters which will positively influence the global circulating fluidized bed boiler market growth.
Increasing demand for clean energy sources coupled with modernization of current industrial facilities will stimulate the circulating fluidized bed boiler market. Shifting trend across the developing economies toward adaption of CFB technology over conventional power generation systems will boost the product penetration. However, installation of Flue Gas Desulfurization (FGD) or Selective Catalyst Reduction (SCR) unit on account of introduction of stringent emission standards is increasing the overall product cost which may hamper the industry growth.
China circulating fluidized bed boiler market is projected to grow on account of increasing demand for energy efficient heating systems across the nation. Recent growth in manufacturing sector coupled with rapid industrialization & urbanization will positively influence the business landscape. In addition, government initiatives toward reduction of carbon emissions along with extensive innovation strategies will propel the industry growth. For instance, in 2019, the government of China have introduced stringent ultra-low emission standards for sinter plants with an aim to reduce ambient air pollution and closing of outdated industrial capacity.
The key players operating across the circulating fluidized bed boiler market includes GE Alstom, Babcock & Wilcox Co., Dongfang., AE&E Nanjing Boiler Co. Ltd., Siemens, IHI Corporation, Mitsubishi, Harbin Electric Company, BHEL., Doosan Heavy Industries and Thermax Ltd.
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