New York, June 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Circulating Fluid Bed Boilers Global Market Report 2023" - https://www.reportlinker.com/p06466673/?utm_source=GNW
, Babcock & Wilcox Enterprises Inc., Thermodyne Engineering Systems, EBARA Environmental Plant Co. Ltd., General Electric Company, JFE Engineering Corporation, Doosan Heavy Industries & Construction Co. Ltd., Taipower Heavy Industries Corporation, Amec Foster Wheeler plc, Harbin Boiler Engineering Co. Ltd., Metso Outotec Corporation, Emerson Boiler Inc., Formosa Heavy Industries Corporation, and Zhengzhou Boiler Co. Ltd.
The global circulating fluid bed boilers market is expected to grow from $36.22 billion in 2022 to $38.63 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The circulating fluid bed boilers market is expected to reach $48.01 billion in 2027 at a CAGR of 5.5%.
The circulating fluid bed boiler market consists of sales of atmospheric fluidized bed combustion (AFBC), circulating fluidized bed absorbers, and pellets.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Circulating fluid bed boilers refer to a type of power plant boiler that uses a circulating fluidized bed combustion process to burn coal, biomass, waste, or other fuels. It is flexible and cost-effective power plant boilers that can burn various fuels and offer reliable and sustainable power generation solutions.
North America was the largest region in the circulating fluid bed boilers market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in circulating fluid bed boiler report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of circulating fluid bed boilers are subcritical, supercritical, and ultra-supercritical CFB boilers.Subcritical CFB boilers refer to a developing coal combustion technology with capacities of 135 MW, 300 MW, and 330 MW to achieve fewer pollutant emissions that are used to withstand steam pressures of up to 2,600 PSIG and handle a variety of fuels, including high ash, high sulfur, and waste fuels like petroleum coke and sludge.
It can operated on various fuel types including coal, biomass, and others, with capacity ranges including less than 100 MW, 100–200 MW, 200–300 MW, and 300 MW and above. This boilers are used in various sectors, including oil and gas, power, chemicals, manufacturing, and others.
An increase in the usage of coal is expected to propel the growth of the circulating fluid bed boiler market going forward.Coal refers to a mineral that may be mined from the earth and used as fuel, a black rock.
A circulating fluid bed boiler is common in coal-fired power plants, where it generates steam to power enormous turbines and the mineral content of coal is transformed into ash after burning. For instance, in April 2023, according to the report published by the US Energy Information Administration, a US-based federal statistical system for gathering, processing, and disseminating energy data, usage of coal increased by 20 million short tons (MMst) in 2022 to a total of 598 MMst for the year, up 14.5% from the level of 545.6 MMst in 2020. Therefore, an increase in the usage of coal is driving the growth of the circulating fluid bed boiler market going forward.
Strategic collaboration are the key trend gaining popularity in the circulating fluid bed boiler market.Major players in the circulating fluid bed boiler market are focusing on producing innovative products through strategic collaboration to strengthen their market position.
For instance, in December 2022, Bharat Heavy Electricals Limited (BHEL), an Indian-based power generation equipment manufacturer, partnered with Sumitomo SHI FW, a Finland-based circulated fluid bed boilers manufacturer, to expand distributing fluidized bed combustion (CFBC) boilers market in India and overseas.The technology License Agreement involves designing, engineering, producing, installing, commissioning, and marketing a circulating fluidized bed combustion (CFBC) boiler with innovative technology for the Indian and global markets.
CFBC boiler technology has inherent benefits like fuel flexibility, better operational flexibility, and meeting emission norms. The technology licensing agreement (TLA) will enhance the company’s capabilities to provide power plants that meet emission norms and offer bio-mass co-fired CFBC boilers.
In August 2021, Audax Group, a US-based investment company, acquired Thermogenics Inc. for an undisclosed amount. Through this acquisition, Audax aims to accelerate the expansion of the boiler solutions provider and capitalize on their track record of delivering superior products, thereby enhancing customer satisfaction. The focus is on producing top-notch goods and accelerating business growth. Thermogenics, Inc. is a US-based manufacturer of thermal fluid heaters, steam and hot water boilers, and specially designed circulating fluid bed boilers for various industries.
The countries covered in the circulating fluid bed boiler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organisations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.
The circulating fluid bed boilers market research report is one of a series of new reports that provides circulating fluid bed boilers market statistics, including global market size, regional shares, competitors with a circulating fluid bed boilers market share, detailed circulating fluid bed boilers market segments, market trends and opportunities, and any further data you may need to thrive in the circulating fluid bed boilers industry. This circulating fluid bed boiler market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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