Circulating Fluid Bed Boilers Market Projected to Grow at a 3% CAGR by 2030 – Report by Market Research Future (MRFR)
Circulating Fluid Bed Boilers Market Growth Boost by Rising Demand and CFB Boiler Technology Developed Rapidly
New York, US, March 23, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Circulating Fluid Bed Boilers Market Research Report, by Type, Region, Feedstock, and Application- Forecast Till 2030”, the global market for Circulating Fluid Bed Boilers is predicted to showcase considerable development over the assessment timeframe from 2022 to 2030 with a strong development rate of approximately 3%. The reports further anticipate the market to acquire a valuation of around USD 43.4 Billion by the end of 2027.
Circulating Fluid Bed Boilers Market Overview:
CFB boilers help fuels compared to the bubbling fluidized bed boilers. These boilers are utilized with RPF, waste tires, biomass, paper sludge, anthracite, petroleum coke, and bituminous coal. Energy management has become a global issue these days. Boilers generate steam, which is further utilized to offer space heat, process heat, etc. It is known to have high combustion efficiency compared to BFB boilers, which is believed to be the major selling point for these types of boilers. The CFB boilers have high-temperature materials capable of eating the fuel quickly. The heated fuels can flawlessly go above the ignition temperature after getting into the CFB boiler chambers. A smaller fuel amount in comparison with other high-temperature materials in the CFB boiler chambers can deal with several challenges
The listing of the prominent leaders across the global circulating fluid bed boilers market includes players such as:
Alfa Laval AB (Sweden)
Mitsubishi Heavy Industries, Ltd (Japan)
Alstom SA (France)
Shanghai Boiler Works Co., Ltd (China)
Dongfang Boiler Group Co., Ltd. (China)
AE&E Nanjing Boiler Co., Ltd (China)
Thermax. D Ltd (India)
Babcock & Wilcox Enterprises (U.S.)
Doosan Heavy Industries & Construction Company Limited (UAE)
Bharat Heavy Electricals Limited (India)
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The global Circulating Fluid Bed Boilers market has expanded rapidly in the last few years. The main aspect supporting the development of the market is the rise in demand for clean fuel technology. Furthermore, the aspects such as excellent emission performance, a large range of load adjustments, and wide fuel flexibility are also anticipated to contribute to the market's performance over the coming years. Moreover, the escalating demand for cost-efficient and cleaner combustion technology and stringent environmental regulations are also projected to impact the market's development over the coming years positively.
Circulating Fluid Bed Boilers Market USP Covered
The global Circulating Fluid Bed Boilers market has expanded rapidly in the last few years. The main aspect supporting the development of the market is the rise in demand for clean fuel technology. It is known to have high combustion efficiency compared to BFB boilers, which is believed to be the major selling point for these types of boilers.
Market Size 2030
2030: Significant Value
CAGR during 2022-2030
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Type, Feedstock and Application
Key Market Opportunities
New product launches and R&D amongst major key players
Key Market Drivers
Wide fuel flexibility
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On the contrary, so many aspects may impede the performance of the market over the review era. The volatility of prices of packaging raw materials is predicted to restrict the performance of the market.
Global industrial activities and business operations experienced a major setback given to the rise of the global health crisis in the form of COVID-19. The pandemic affected public health across nearly 225 countries, along with all industrial operations. All these situations led to the imposition of full or partial lockdowns across most regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of most industrial operations, the circulating fluid bed boilers market experienced many sudden & unexpected issues throughout the pandemic. On the contrary, now that the majority of the globe is being rapidly vaccinated and industrial operations are returning to normal, the market is predicted to witness a considerable expansion and recovery in revenue generation over the assessment period.
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Circulating Fluid Bed Boilers Market Segment Analysis
Among all the products, the subcritical segment is predicted to dominate the global market for Circulating Fluid Bed Boilers over the coming years.
Among all the capacity ranges, the 100–200 MW segment is predicted to ensure the top spot across the global market for Circulating Fluid Bed Boilers over the coming years.
Among all the fuel types, the coal fuel type segment is likely to dominate the market globally.
Circulating Fluid Bed Boilers Market Regional Analysis
The global market for circulating fluid bed boilers is analyzed across five main geographies: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The MRFR analysis reports suggest that the North American region is predicted to ensure the top spot across the circulating fluid bed boilers market over the assessment era. The main aspect supporting the development of the regional market is the rising awareness of the need to control gas emissions along with the increasing operational efficiency.
The European regional market for circulating fluid bed boilers is anticipated to secure the second spot across the global market for circulating fluid bed boilers over the assessment era.
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The circulating fluid bed boilers market for the Asia Pacific region is predicted to display the maximum growth rate over the coming years. The nations across the region are considered to be the leading growth contributors across the market worldwide. The main parameter supporting the development of the regional market is the rapid industrial development in the countries such as China and India, as there are several issues regarding the continuous, reliable electricity supply. Furthermore, the escalating R&D activities across emerging economies will likely catalyze the regional market's growth over the review era.
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