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, brow coal, wood biomass, and others, can be burned in CFB boilers. In comparison to bubbling fluidized bed (BFB) boilers, CFB boilers can handle a wider range of fuels. Bituminous coal, biomass, anthracite, petroleum coke, paper sludge, RPF (refuse paper and plastic fuel), and waste tyres are all 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 the use of CFB boilers. One of the chemical substances that has a harmful impact on the environment is thermal nitrogen oxide (NOx).
MARKET SCOPE
The "Global Circulating fluidized bed boiler Market Analysis to 2028" is a specialized and in-depth study of the circulating fluidized bed boiler market with a special focus on the global market trend analysis. The report aims to provide an overview of circulating fluidized bed boiler market with detailed market segmentation by product, capacity, application, and geography. The global circulating fluidized bed boiler market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading circulating fluidized bed boiler market players and offers key trends and opportunities in the circulating fluidized bed boiler market.
MARKET SEGMENTATION
- The global circulating fluidized bed boiler market is segmented on the basis of product, capacity, and application.
- On the basis of product, Depending on product, the market is divided into subcritical, supercritical, and ultra-supercritical.
- On the basis of capacity, it is fragmented into less than 100 MW, 100-200 MW, 200-300 MW, and 300 MW & above.
- On the basis of application the market is segmented into energy and power, industrial, and others.
MARKET DYNAMICS
Drivers:
- Minimal environmental impact associated with use of CFB boilers.
- CFB boilers supports wide variety of fuels as compared to bubbling fluidized bed (BFB) boiler. CFB boilers are well suited to be used with bituminous coal, biomass, anthracite, petroleum coke, paper sludge, RPF (refuse paper & plastic fuel), and waste tires.
- CFB boilers are vulnerable to wear and tear, which, in turn, increases its maintenance cost and hampers the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The circulating fluidized bed boilermarket by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the circulating fluidized bed boiler market in these regions.
IMPACT OF COVID-19 ON CIRCULATING FLUIDIZED BED BOILERMARKET
COVID-19 has had an impact on a variety of industries owing to the shutdown of numerous industrial processes and the disruption of supply chains. Because of its reliance on the oil and gas, energy and power, and other industrial sectors, the circulating fluidized bed boiler market has been badly impacted by the COVID-19 pandemic. According to the Energy and Economic Growth Survey, the oil and gas industry will be among the hardest hit in 2020, with an average decrease of -2.8 percent. Furthermore, over 100 nations have closed their international borders to non-essential trade and transit, causing demand-supply disruptions in the circulating fluidized bed boiler sector. Furthermore, during the COVID-19 period, temporary oil refinery shutdowns decreased the use of circulating fluidized bed boilers for a range of fuels. According to a report published by the Indian Ministry of Petroleum & Natural Gas, the central public sector enterprise (CPSE) refineries produced 7,103.76 thousand metric tonnes (TMT) of crude oil in April 2020, which is 28.91 percent less than the target for the month and 36.93 percent less than the production in the same month of 2019. During the COVID-19 scenario, this had a significant impact on the demand for circulating fluidized bed boilers among oil refineries. Furthermore, financial hardship, reduced demand, and power supply chain interruptions have all had a severe influence on the power sector. However, post COVID-19, growth in global energy needs and fuel consumption is expected to propel the circulating fluidized bed boilers market. According to a report published by the United States Energy Information Administration, crude oil production by the Organization of Petroleum Exporting Countries (OPEC) is predicted to increase to an average of 28.7 million barrels per day by 2022. Furthermore, both major and developing economies such as the United States, China, India, and others are continually working to improve their refining capacities, and circulating fluidized bed boilers are frequently used for fuel combustion.
MARKET PLAYERS
The report covers key developments in the circulating fluidized bed boiler market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from circulating fluidized bed boilermarket market are anticipated to lucrative growth opportunities in the future with the rising demand for circulating fluidized bed boilermarket in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Circulating fluidized bed boilermarket. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Mitsubishi Power
- JFE Engineering Corporation
- Valmet
- Andritz
- Industrial Boilers America
- Alstom
- Sumitomo Heavy Industries Limited
- Babcock & Wilcox Enterprises, Inc.
- Thermodyne Engineering Systems
- EBARA Environmental Plant Co., Ltd.