Global Circulating Fluidized Bed Boilers Market is valued approximately at USD 533.16 million in 2022 and is anticipated to grow with a growth rate of more than 8.8% over the forecast period 2023-2030. The circulating fluidized bed (CFB) process enables boilers and power plants to achieve maximum flexibility when it comes to burning a wide range of fuels. CFB boilers are specifically designed to create high gas velocity within the furnace. They have the capability to effectively combust various fuel compounds, including bituminous coal, brown coal, wood biomass, and other types of fuels. They also offer superior combustion efficiency compared to BFB boilers. Furthermore, CFB boilers have minimal environmental impact, particularly in terms of reducing the production of thermal nitrogen oxides (NOx). Regular boilers operate at combustion temperatures of 1,400–1,500°C, whereas CFB boilers operate at temperatures ranging from 800–900°C, effectively lowering the production of thermal nitrogen oxides. These factors are driving the demand for circulating fluidized bed boilers, leading to the growth of the global market.
Moreover, the growing energy generation sector has been a significant factor in supporting the growth of the Circulating Fluidized Bed (CFB) Boilers market. As global energy demand continues to rise, there is a need for efficient and reliable power generation solutions. CFB boilers have gained popularity in the energy sector due to their ability to burn a wide range of fuels and generate electricity efficiently. This increased demand for power has led to the installation of more CFB boilers worldwide. According to Statista, global electricity generation has witnessed significant growth, increasing from 26,677 terawatt-hours in 2018 to nearly 28,500 terawatt-hours in 2021. Furthermore, in the year 2022, there was a notable surge in annual global investment of approximately 31 percent in clean energy sources and technology specifically relevant to the energy transition. Moreover, the global investment in the low-carbon energy transition reached an unprecedented milestone in 2022, totaling USD 1.11 trillion, setting a new record high. Additionally, surging energy demand and rise in demand for clean fuel technology provides lucrative market growth opportunities. However, the high maintenance cost of circulating fluidized bed boilers stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Circulating Fluidized Bed Boilers Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to increasing awareness about the impact of emissions and the industry’s focus on adopting low-carbon technologies. There is a rising awareness of the need to control gas emissions and improve operational efficiency, contributing to the market growth. Asia Pacific is expected to grow at fastest growth rate during the forecast period, owing to increasing need for clean energy and uninterrupted electricity supply in China and India is leading to a higher installation of circulating fluidized bed boilers for power generation. Furthermore, ongoing R&D activities further fuel the circulating fluidized bed boilers market.
Major market player included in this report are:
Sumitomo Heavy Industries Limited
JFE Engineering Corporation
Mitsubishi Power Ltd.
EBARA Environmental Plant Co., Ltd.
Industrial Boilers America
Babcock & Wilcox Enterprises, Inc.
Thermodyne Engineering Systems
Recent Developments in the Market:
Ø In April 2022, Advanced Emissions Solutions, along with its subsidiaries, released its quarterly earnings report, revealing an approximate EPS of USD 0.31 for the quarter. The company achieved a net margin of 63.35% and an equity return of 45.86%. During the same period, the company generated a revenue of USD 25.76 million.
Ø In April 2022, Advanced Emissions Solutions, based in the United States, specializes in providing environmental and specialty chemicals technologies. Their focus areas include Refined Coal and Advanced Purification Technologies. They offer the CyClean technology, which is a pre-combustion coal treatment process designed to enhance combustion and reduce mercury and nitrogen oxide emissions from coal burned in cyclone boilers. The M-45-PC and M-45 technologies are utilized for regulating emissions from pulverized coal boilers and circulating fluidized bed boilers.
Global Circulating Fluidized Bed Boilers Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Capacity, Fuel Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Less than 100 MW
300 MW & Above
By Fuel Type:
Energy & Power
Middle East & Africa
Rest of Middle East & Africa