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Circulating Fluidized Bed Boiler Market Research Report - Segmentation by Product (Ultra-supercritical, Supercritical and Subcritical); By Capacity (Less than 100MW, 100-200 MW and 300 MW & above); By Fuel type (Biomass, Coal, and Others); By Application (Industrial, Energy & Power and Others); and Region - Industry Forecast of 2022 to 2027

Published: January, 2022
ID: 12149
Pages: 175

Circulating Fluidized Bed Boiler Market Size (2022-2027):

The Global Circulating Fluidized Bed Boiler Market size was valued at US$ 450.4 million in 2021 and is anticipated to reach US$ 1043.1 million by 2027 and increase at a CAGR of 8.9% during the forecast period 2022-2027. 

Market Scenario:

Due to increased concern about stringent adherence to harmful norms and rules, the global circulating fluidized bed boilers market has been steadily growing in recent years. It is predicted to rise significantly over the next seven years. Increased population, combined with variable oil and gas costs, is likely to propel thermal power plants forward. However, traditional coal igniting processes result in significant NOx and SOx emissions linked to acid rain. Adding new equipment to meet pollution requirements comes at a hefty expense in terms of capital. In addition, traditional boiler designs aren't flexible enough to fulfill a wide range of industry needs. CFB boilers, on the other hand, are made of high-temperature materials, which allows the fuel to be heated quickly.

Furthermore, once the energy enters CFB boiler chambers, it is efficiently heated above ignition temperature. Other boilers used for the same purpose have drawbacks, including fire extinguishing and unsteady combustion. However, because there is a limited amount of fuel inside CFB boiler chambers compared to high-temperature materials, these issues can be overcome. Therefore, it is a significant factor expected to open up new possibilities in the worldwide circulating fluidized bed boiler market.

Market Drivers:

Circulating fluidized bed (CFB) is a method that allows boilers and power plants to burn a wide range of fuels. High gas velocity in the furnace is provided by circulating fluidized bed boilers. Different fuel components, such as bituminous coal, brown coal, wood biomass, and others, can be burned in CFB boilers. Compared to bubbling fluidized bed (BFB) boilers, CFB boilers can handle a broader range of fuels. Bituminous coal, anthracite, petroleum coke, paper sludge, RPF (refuse paper and plastic fuel), and waste tires are good candidates for CFB boilers. Furthermore, as compared to BFB boilers, these boilers have a high combustion efficiency. Other significant aspects driving global market expansion include the reduced environmental effect associated with CFB boilers. One chemical molecule that is thought to harm the environment is thermal nitrogen oxide (NOx). NOx production is mainly influenced by combustion temperature. The combustion temperature in a standard boiler is between 1,400 and 1,500°C, but the combustion temperature in a CFB boiler is between 800 and 900°C. As a result, the production of thermal nitrogen oxides is reduced.

These factors work together to boost demand for circulating fluidized bed boilers, increasing the global circulating fluidized bed boiler market. Organizations have been advised to look for energy-efficient power generation techniques due to the rising demand for cost-effective and cleaner combustion technology and rigorous environmental requirements. Several efforts are being made to direct these difficulties and discover environmentally acceptable fuel combustion solutions. This technology has grown popular, particularly in the power production industry, because of the low capital costs of setting up and operating circulating fluidized bed (CFB) boilers. CFB boilers, on the other hand, are prone to wear and tear, which raises maintenance costs and slows market expansion. Because of the high velocity of particles falling inside CFB boilers, casting materials used in CFB boilers are a big concern. Furthermore, due to platform obstruction inside CFB boilers, the course of combustion particles is altered, resulting in a rotating vortex. The upward force applied by the air supply increases the density of particles, which enhances the CFB boiler's wearability.

Market Restraints:

The smoke-air system has a relatively high resistance, and the fan consumes a lot of power. This is because the air distribution plate and bed in the air supply system are significantly more prominent than the air supply resistance in the pulverized coal and chain furnaces, and the resistance of the gas-solid separator in the flue gas system is increased. The abrasion of the heating surface is more problematic, and it might become a significant factor impacting the boiler's long-term continuous functioning. This is due to the high dust concentration in the flue gas, which might cause substantial wear on the furnace's water wall and gas-solid separator. If the partition is inefficient or malfunctions, it will significantly wear on the convective heating surface. Auxiliary equipment requirements are increasing. Additional equipment, such as slag coolers or high-pressure fans, can dramatically impact performance or cause operational issues. These are some of the major restraints of the global circulating fluidized bed boiler market. 

CIRCULATING FLUIDIZED BED BOILER MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

8.9%

Segments Covered

By Product, Capacity, Fuel Type, Application, and Region.

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

Mitsubishi Power, JFE Engineering Corporation, Valmet, Andritz, Alstom, Industrial Boilers America, Sumitomo Heavy Industries Ltd., Babcock & Wilcox Enterprise Inc., Thermodyne Engineering Systems, EBARA Environmental Plant Co. Ltd, and Others.

Market Segmentation:

Circulating Fluidized Bed Boiler Market - By Product:

  • Ultra-supercritical
  • Supercritical
  • Subcritical

Based on product, the supercritical segment plays a dominant role in the global circulating fluidized bed boiler market during the forecast period. Boilers that operate at temperatures and pressures of 538-565 0C and above 3,200 psi are known as supercritical steam generators. There are no drums in these systems, and the evaporation endpoint is flexible. As a result, the evaporation process is completed in a single pass through the evaporator. They are primarily used to generate power, and unlike other alternatives, they do not produce bubbles. The use of novel materials that can survive the high temperature and pressure associated with supercritical boilers has resulted from ongoing scientific breakthroughs.

Circulating Fluidized Bed Boiler Market - By Capacity:

  • Less than 100MW
  • 100-200 MW
  • 300 MW & above

In 2020, the 100–200 MW segment will dominate the global circulating fluidized bed boiler market, and it is projected to escalate at an annual rate of 8.4% throughout the forecast period. Circulating fluidized bed boilers with 100-200 MW capacities are commonly employed in power plants since they aid in anthracite usage while lowering SOx, NOx, and dust emissions. One of the primary underlying market variables that have affected the business dynamics is rising environmental concerns about industrial emissions. Because of their capacity to lower energy expenses and emit low levels of pollutants, multi-fuel plants have seen a significant increase in deployment during the previous decade. In addition, Low-capacity CFB boilers are being used across the industrial sector owing to the quick accessibility of raw materials.

Circulating Fluidized Bed Boiler Market - By Fuel Type:

  • Biomass
  • Coal
  • Others

The coal fuel type segment generated the most revenue in 2020, and it is expected to expand at a CAGR of 8.7% during the forecast period. The use of coal as a primary fuel in circulating fluidized bed boilers has several advantages, including fuel flexibility and the ability to feed CFB boilers with wet coal, which reduces dangerous environmental emissions.

Circulating Fluidized Bed Boiler Market - By Application:

  • Industrial
  • Energy & Power
  • Others

The energy & power application generated the most revenue and is expected to rise at a CAGR of 9.0% over the projected period. This is because was circulating fluidized bed boilers have a wide range of fuel adaptability, stability, effective combustion, and improved load regulation performance, making them ideal for usage in the energy and power sector.

Regional Analysis: 

The Global Circulating Fluidized Bed Boiler Market Report includes the segmentation of Regions:

  • During the forecast period, the Asia-Pacific circulation fluidized bed boiler market is expected to grow at the fastest rate of 9.5 percent, accounting for 60.7 percent of the overall global circulating fluidized bed boiler market share. Since 1980, China has been rapidly developing CFB combustion technology. Furthermore, China's rapid growth in energy, power, and industrial sectors is mainly responsible for the quick increase in coal-fired CFB boilers. Another vital aspect driving demand for CFB boilers is their ability to minimize SOx and NOx emissions.

  • North America is anticipated to have a significant global circulating fluidized bed boiler market share due to the growing demand and need for high-efficiency boilers in the U.S and Canada.

  • Europe 

  • Latin America

  • Middle East and Africa

Impact of COVID-19 on Circulating Fluidized Bed Boiler Market:

The new coronavirus is an unprecedented worldwide pandemic that has spread to over 180 nations and resulted in massive human and economic losses worldwide. Because it relied on oil and gas, energy and power, and other industrial sectors, the circulating fluidized bed boiler market has been badly impacted by the COVID-19 epidemic. Furthermore, during the COVID-19 period, temporary oil refinery shutdowns decreased circulating fluidized bed boilers for a range of fuels. However, post-COVID-19, a rise in global energy needs and fuel consumption is anticipated to propel the circulating fluidized bed boilers market.

Market Key Players:

The companies covered in the report include:

  1. Mitsubishi Power 
  2. JFE Engineering Corporation
  3. Valmet
  4. Andritz
  5. Alstom
  6. Industrial Boilers America
  7. Sumitomo Heavy Industries Ltd.
  8. Babcock & Wilcox Enterprise Inc.
  9. Thermodyne Engineering Systems
  10. EBARA Environmental Plant Co. Ltd.

Recent Developments:

  • On February 4, Tiruchi-based Bharat Heavy Electricals Limited (BHEL) successfully demonstrated full-load functioning of its first 250 MW Circulating Fluidized Bed (CFB) boiler delivered to Neyveli Lignite Corporation (NLC) at Neyveli. The erection of the second unit is well progressed. It is said to be the largest CFB boiler in Southeast Asia.
  • Mitsubishi Power, at Therma South Inc., announced a long-term service agreement for three years for inspection activities of boiler ultrasound gauge mapping. It further added that the technical knowledge of the CFB boilers by the team would helpful for improving the reliability of power plants and also offer an efficient power supply.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Circulating Fluidized Bed Boiler Market , By Product                 

                                6.1.1 Ultra-supercritical

                                6.1.2 Supercritical           

                                6.1.3 Subcritical

                                6.1.4 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Circulating Fluidized Bed Boiler Market , By Capacity                                

                                6.2.1 Less than 100MW 

                                6.2.2 100-200 MW          

                                6.2.3 300 MW & above 

                                6.2.4 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

                6.3 Circulating Fluidized Bed Boiler Market , By Fuel type                              

                                6.3.1 Biomass   

                                6.3.2 Coal           

                                6.3.3 Others      

                                6.3.4 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.3.5 Y-o-Y Growth Rate Analysis              

                                6.3.6 Market Attractiveness Index           

                6.4 Circulating Fluidized Bed Boiler Market , By Application                          

                                6.4.1 Industrial 

                                6.4.2 Energy & Power   

                                6.4.3 Others      

                                6.4.4 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.4.5 Y-o-Y Growth Rate Analysis              

                                6.4.6 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2022 - 2027)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product              

                                7.2.3 By Capacity             

                                7.2.4 By Fuel type           

                                7.2.5 By Application       

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product              

                                7.3.3 By Capacity             

                                7.3.4 By Fuel type           

                                7.3.5 By Application       

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product              

                                7.4.3 By Capacity             

                                7.4.4 By Fuel type           

                                7.4.5 By Application       

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product              

                                7.5.3 By Capacity             

                                7.5.4 By Fuel type           

                                7.5.5 By Application       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product              

                                7.6.3 By Capacity             

                                7.6.4 By Fuel type           

                                7.6.5 By Application       

8. Key Player Analysis                                    

                8.1 Mitsubishi Power                     

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 JFE Engineering Corporation               

                8.3 Valmet                         

                8.4 Andritz                         

                8.5 Alstom                         

                8.6 Industrial Boilers America                    

                8.7 Sumitomo Heavy Industries Ltd.                        

                8.8 Babcock & Wilcox Enterprise Inc.                      

                8.9 Thermodyne Engineering Systems                   

                8.10 EBARA Environmental Plant Co. Ltd.                              

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Circulating Fluidized Bed Boiler Market By Region, From 2022 - 2027 ( USD Billion )

  2. Global Circulating Fluidized Bed Boiler Market By Product, From 2022 - 2027 ( USD Billion )

  3. Global Ultra-supercritical Market By Region, From 2022 - 2027 ( USD Billion )

  4. Global Supercritical Market By Region, From 2022 - 2027 ( USD Billion )

  5. Global Subcritical Market By Region, From 2022 - 2027 ( USD Billion )

  6. Global Circulating Fluidized Bed Boiler Market By Capacity, From 2022 - 2027 ( USD Billion )

  7. Global Less than 100MW Market By Region, From 2022 - 2027 ( USD Billion )

  8. Global 100-200 MW  Market By Region, From 2022 - 2027 ( USD Billion )

  9. Global 300 MW & above Market By Region, From 2022 - 2027 ( USD Billion )

  10. Global Circulating Fluidized Bed Boiler Market By Fuel type , From 2022 - 2027 ( USD Billion )

  11. Global Biomass Market By Region, From 2022 - 2027 ( USD Billion )

  12. Global Coal Market By Region, From 2022 - 2027 ( USD Billion )

  13. Global Others Market By Region, From 2022 - 2027 ( USD Billion )

  14. Global Circulating Fluidized Bed Boiler Market By Application, From 2022 - 2027 ( USD Billion )

  15. Global Industrial Market By Region, From 2022 - 2027 ( USD Billion )

  16. Global Energy & Power  Market By Region, From 2022 - 2027 ( USD Billion )

  17. Global Others Market By Region, From 2022 - 2027 ( USD Billion )

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