Home > Pressrelease > Global CFB Boiler Market to exceed $50bn by 2025
Global CFB Boiler Market to exceed $50bn by 2025
- Published Date: October 1, 2019
CFB Boiler Market size is expected to surpass USD 50 Billion by 2025, as reported in the latest study by Global Market Insights Inc.
The demand for CFB boilers is witnessing substantial growth owing to the rising installation of captive power systems. Over the last decade, the energy consumption across the industrial sector has witnessed substantial growth in line with steady population expansion. The availability of limited transmission & distribution infrastructure has resulted in adoption of energy efficient generation systems to suffice the growing energy requirement. Therefore, industry conglomerates are investing aggressively toward the installation of CFB based captive systems to enhance energy security and ensure reliable operation across diversified business verticals.
Stringent environmental standards to complement the adoption of biomass fueled CFB boiler market
Growing efforts toward adoption of sustainable & clean power generation technologies is accelerating the demand for the CFB boiler systems across the globe. Strong focus toward the utilization of clean energy fuel sources along with increasing initiatives to counteract climate change has fueled the deployment of biomass based CFB systems. Their ability to incinerate a wide spectrum of biomass fuel sources including agricultural trash, waste building materials, and paper sludge are expanding their penetration significantly. Over the past decade, the installation of these units has witnessed a substantial uptick due to increasing focus on adverse effects associated with global warming owing to heavy dependence on conventional fuels. Therefore, the regulators across the globe are aggressively incentivizing to promote the adoption of biomass based CFBC boilers to effectively curb greenhouse gas emissions.
Growing demand for energy efficient systems driving the supercritical CFB boiler growth
Supercritical boilers are steam generators that operate at pressure above 3,200 psi and temperature ranging between 538-565 0C respectively. These systems have a variable evaporation endpoint and are drum-less. Therefore, the evaporation takes place via a single pass through the evaporator. Supercritical CFB technology is primarily deployed for power generation applications and has witnessed increased penetration across new electricity generation stations most notably in India, South Korea, China, Europe and Japan. Zero bubble formation and surging demand for replacement of legacy systems across existing power stations will augment the CFB boiler market growth over the forecast timeline.
Browse key industry insights spread across 470 pages with 727 market data tables & 33 figures & charts from the report, “Circulating Fluidized Bed Boiler Market Size By Product (Subcritical, Supercritical, Ultra-Supercritical), By Capacity (< 100 MW, 100 – 200 MW, 200 – 300 MW, > 300 MW), By Application (Utility, Oil & Gas, Petrochemical, Chemical, Others), By Fuel (Coal, Biomass, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, Japan, South Korea, India, Australia, Indonesia, Philippines, Saudi Arabia, UAE, Egypt, Kenya, Morocco, Nigeria, South Africa, Brazil, Argentina, Chile), Application Potential, Competitive Market Share & Forecast, 2019 – 2025”in detail along with the table of contents:
Surging petrochemical applications are enhancing CFB boiler installation
The demand for petrochemical products has witnessed a significant growth over the past decade owing to declining crude oil prices. As a result, it has become a necessity for the refinery owners to expand their production capacity which in turn require sustainable & reliable power supply. However, several countries has limited T & D infrastructure which tends to hinder continuous operations of refineries. Therefore, operators are increasing their focus to limit their dependency on utilities for power supply. Hence, the deployment of CFB boiler based captive systems is now becoming a necessity to effectively run plant operations. The influx of FDI in the downstream oil & gas industry across several emerging economies including India will further complement the global CFB boiler market growth.
Focus toward achieving fuel flexibility to drive < 100 MW boiler industry growth
The growing significance toward the adoption of power generation technologies which support the combustion of multiple fuel sources will give impetus to < 100 MW circulating fluidized bed boiler market growth. Over the years, the rapid industrialization has created the heavy dependence on fossil fuels. As a result, renewed focus toward enhancing the sustainability of conventional fuel sources has accelerated the penetration of low capacity multi fuel boiler systems. The rise in the concentration of industrial emissions coupled with the growing convenience of utilizing industrial waste as a fuel source has further propelled the deployment of these units globally.
Burgeoning economic growth has fueled the North America CFB boiler market
Resurgent economic growth coupled with ongoing investments toward the refurbishment of manufacturing facilities will stimulate the CFBC boiler demand across North America. As of 2018, the U.S. held a dominant market share across the regional CFB boiler industry. The country’s manufacturing sector in 2018, witnessed a revival after several years of low output capacity and a declining penetration of work force. In 2018, the U.S. manufacturing output accounted for 18% of the global capacity. Strengthening economy and favorable regulatory environment has improved the workforce quality, which is acting as catalysts in this renewed growth. Moreover, ongoing investments toward the adoption of cleaner and sustainable power generation technologies will further proliferate the technology adoption in the forecast period.
Notable market participants in CFB boiler market comprise of Bharat Heavy Electricals Limited, Babcock and Wilcox Enterprises, AMEC Foster Wheeler, IHI, Forbes Marshall, General Electric, Mitsubishi Hitachi Power Systems, Bosch Thermotechnology, Thermax, and Walchandnagar Industries. These companies are gradually increasing their presence across the Asia Pacific region by strategic partnerships & collaborations on account of expanding their dealer network.
Circulating Fluidized Bed boiler market research report includes in-depth coverage of the industry with estimates & forecast in terms of “GW” and ‘USD” from 2014 to 2025, for the following segments:
- < 100 MW
- 100 MW - 200 MW
- 200 MW - 300 MW
- > 300 MW
- Oil & Gas
The above information is provided on a regional & country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America