Circulating Fluidized Bed Boiler Market Analysis | 2024-2030

Market Insights

The circulating fluidized bed boiler market was estimated at USD 580 million in 2023 and is likely to grow at a CAGR of 9.21% during 2024-2030 to reach USD 1077.88 million in 2030.

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Market Dynamics

Introduction

Circulating fluidized bed (CFB) boiler is an advanced technology that is used for coal combustion to accomplish low emission standards. CFB reactors address the heat removal issues that affect a fixed-bed reactor.

Circulating fluidized bed boilers are of different types, such as subcritical, supercritical, and ultra-supercritical, which are used in various applications such as utility, oil & gas, petrochemical, chemical, and others.

Market Drivers

The major driving factor bolstering the market for circulating fluidized bed boilers is its ability to effectively reduce harmful NOx and SOx emissions without any special environmental modification.

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Key Players

Some of the major circulating fluidized bed boiler manufacturers are-

• Babcock and Wilcox Enterprises Inc.
• Bharat Heavy Electricals Limited
• IHI Corporation
• AMEC Foster Wheeler Ltd.
• Doosan Heavy Industries & Construction Co. Ltd.
• Thermax Limited
• Forbes Marshall
• Mitsubishi Hitachi Power Systems Ltd.
• General Electric
• Walchandnagar Industries Limited (WIL).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Product Type

Based on the product type, the circulating fluidized bed boiler market is segmented as subcritical, supercritical, and ultra-supercritical. The supercritical boilers segment is expected to govern the market driven by the ongoing technological advancements that result in the adoption of a new range of materials that can withstand high temperatures and pressure associated with supercritical boilers.

By Capacity Type

Based on the capacity type, the market is segmented as <100 MW, 100-200 MW, 200-300 MW, and >300 MW. The <100 MW segment is expected to dominate the market due to the rising environmental concerns pertaining to industrial emissions.

By Application Type

Based on the application type, the market is segmented as utility, oil & gas, petrochemical, chemical, and others. The utility segment is expected to remain the dominant segment over the forecast period. Utilities are continuously looking for technologies that can effectively operate under adverse conditions, irrespective of the raw materials being provided.

By Fuel Type

Based on the fuel type, the market is segmented as coal, biomass, and others. The biomass segment is expected to remain the dominant segment. It is driven by the easy availability of sources along with ongoing efforts to counteract global warming, which has accelerated the installation of biomass-based circulating fluidized bed boilers.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest region for the circulating fluidized bed boiler market during the forecast period. The growth of the region is mainly driven by resurgent economic growth along with increasing investments towards the upgradation of industrial facilities and urging demand for energy across the industrial sector.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects circulating fluidized bed boiler market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The circulating fluidized bed boiler market is segmented into the following categories:

By Product Type

• Subcritical
• Supercritical
• Ultra-Supercritical

By Capacity Type

• <100 MW
• 100 - 200 MW
• 200 - 300 MW
• >300 MW

By Application Type

• Utility
• Oil & Gas
• Petrochemical
• Chemical
• Others

By Fuel Type

• Coal
• Biomass
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.