How Has The Circulating Fluid Bed Boilers Market Size Evolved In Recent Years?
The circulating fluid bed boilers market has seen considerable growth due to a variety of factors.
•The market size for circulating fluid bed boilers has seen significant expansion in the past few years. The market is projected to rise from $40.76 billion in 2024 to $43.11 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%.
Factors contributing to this growth during the historic period include the rise in energy demand and security, rigorous environmental regulations, the efficiency of coal combustion, industrial expansion, urbanization, and the integration of renewable energy.
What Is The Projected Growth Of The Circulating Fluid Bed Boilers Market?
The circulating fluid bed boilers market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the circulating fluid bed boilers market is anticipated to experience considerable expansion in the coming years. The market is projected to reach "$54.46 billion by 2029 with a 6.0% compound annual growth rate (CAGR).
Factors contributing to this expected growth during the forecast period include the shift towards clean energy, government clean energy incentives, commitment to carbon neutrality, a rising demand for biomass energy, and investments from the public and private sectors. Key trends for the forecast period will consist of progression in combustion technology, clean coal combustion initiatives, the integration of carbon capturing technologies, and the use of digitalization for operational refinement.
What Key Factors and Trends are Driving the Growth of the Circulating Fluid Bed Boilers Market?
Rising coal usage is predicted to spur expansion in the circulating fluid bed boiler market in the future. Coal, a mineral mined from the earth that serves as fuel is largely represented by a type of black rock. Coal-fired power plants usually employ circulating fluid bed boilers to produce steam that drives sizable turbines, and the mineral constituents of coal are converted into ash after combustion. As noted in a report by the US Energy Information Administration, a provider of federal statistical data related to energy, coal consumption rose by 20 million short tons (MMst) in 2022, bringing the total to 598 MMst for the year, a 14.5% increase from the 2020 level of 545.6 MMst. Consequently, the uptick in coal use is contributing to the progression of the circulating fluid bed boiler market in the future.
What are the Market Segments in the Circulating Fluid Bed Boilers Market?
The circulating fluid bed boilers market covered in this report is segmented –
1) By Product: Subcritical CFB Boilers, Supercritical CFB Boilers, Ultra-Supercritical CFB Boilers
2) By Fuel Type: Coal, Biomass, Other Fuel Types
3) By Capacity: Less Than 100 MW, 100-200 MW, 200-300 MW, 300 MW And Above
4) By Application: Oil And Gas, Power, Chemicals, Manufacturing, Other Application Types
Subsegments:
1) By Subcritical CFB Boilers: Steam Generation Capacity, Fuel Type
2) By Supercritical CFB Boilers: Steam Generation Capacity, Fuel Type
3) By Ultra-Supercritical CFB Boilers: Steam Generation Capacity, Fuel Type
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What Trends are Shaping the Circulating Fluid Bed Boilers Market?
The principle of strategic partnerships is gaining traction as a key trend in the circulating fluid bed boiler market. Major market players are employing this strategy to produce unique products, which, in turn, fortify their market standing. To illustrate, in December 2022, Bharat Heavy Electricals Limited (BHEL), a prominent Indian power machinery producer, collaborated with Sumitomo SHI FW, a circulating fluid bed boiler company based in Finland. The objective was to amplify circulation of fluidized bed combustion (CFBC) boilers within India and globally. This Technology License Agreement encompasses designing, engineering, manufacturing, installing, commissioning, and marketing a circulating fluidized bed combustion (CFBC) boiler. This innovative boiler technology is slated for deployment in India and around the world. CFBC boiler technology presents numerous advantages, such as fuel adaptability, superior operational flexibility, and compliance with emission standards. The Technology Licensing Agreement (TLA) would bolster the company's capacity to supply power plants that adhere to emission regulations and offer bio-mass co-fired CFBC boilers.
Who Are the Key Players in the Circulating Fluid Bed Boilers Market?
Major companies operating in the circulating fluid bed boilers market include:
• Mitsubishi Heavy Industries Ltd.
• Valmet Corporation
• Andritz AG
• Industrial Boilers America Inc.
• Alstom Power Inc.
• Sumitomo Heavy Industries Ltd.
• 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
• Zhengzhou Boiler Co. Ltd.
• Bharat Heavy Electricals Ltd.
• Ansaldo S.P.A.
• Siemens AG
• Thermax Ltd.
• Hyundai Heavy Industries Co.
• Shanghai Boiler Works Co. Ltd.
• Dongfang Boiler
• Kawasaki Heavy Industries Ltd.
• AE&E Nanjing Boiler Co. Ltd.
• Alfa Laval AB
• Wuxi Huaguang Boiler Co. Ltd.
• Cethar Limited
• Foster Wheeler AG
• Rafako S.A.
What are the Regional Insights into the Circulating Fluid Bed Boilers Market?
North America was the largest region in the circulating fluid bed boilers market in 2024 and is expected to be the fastest-growing region in the global circulating fluid bed boilers market report during the forecast period. The regions covered in the circulating fluid bed boilers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
