Circulating Fluidized Bed (cfb) Boilers Market Is Forecast To Reach 241.9 Gwe By 2023.

Key Trends Impacting Global Circulating Fluidized Bed (CFB) Boilers Market

Industrial progress and infrastructural development witnessed across developing countries have considerably fuelled the energy demand. While these developments bode well for an economy’s growth, they correspondingly aggravate the existing concerns relating to carbon emissions. In view of the situation, Transparency Market Research (TMR), forecasts the installation of circulating fluidized bed (CFB) boilers to increase significantly across the world. Countries located in Asia Pacific is expected to account for higher share in the globally installed capacity base of CFB boilers.

CFB boilers can produce energy from a variety of fuels such as biomass, coal, and peat. Additionally, because these boilers have a very low operating temperature, they emit fairly low levels of harmful gases such as carbon dioxide, nitrogen dioxide, and sulfur dioxide. Due to these advantages, the installed capacity of CFB boilers is poised to surge exponentially.

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As per TMR, the global circulating fluidized bed boilers market is projected to exhibit a CAGR of 11.25% between 2015 and 2023. The installed capacity base of CFB boilers is likely to increase from 92.0 GWe in 2014 to 241.9 GWe by the end of 2023.

Demand from Power Sector to Boost Installation of CFB Boilers across Asia

Regionally, the CFB market has been exhibiting a robust growth in China, Japan, and Australia. These countries together accounted for over 34.67% of the global CFB boilers market in 2014. With a share of 17.527% in the global market, South East Asia emerged as the market boasting the second-largest installed capacity base of CFB boiler in the same year. The rapid growth witnessed by the market in Asian countries is largely attributed to the development of power market in India and China. The CFB boilers market also derived momentum from the industrial growth and infrastructural development witnessed in these countries.

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TMR pegs the total installed capacity of China, Japan, and Australia as a region segment at 18 GWe in 2014. Rising at a CAGR of 7.14% from 2015 to 2023, it is expected to reach 34.5 GWe by the end of the forecast period.

In developed markets of North America, the demand for ultrasupercritical boilers is expected to be the highest. The oil and gas industry reports the highest demand for CFB boilers in North America. TMR expects the application of CFB boilers to surge in the region’s chemical sector as well. The subcritical boilers segment held the largest share in the Europe CFB boilers market in Europe. The oil and gas industry will report the highest demand for CFB boilers in this region as well.

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