Analysts’ Viewpoint on Circulating Fluidized Bed (CFB) Boilers Market Scenario
Import and export of circulating fluidized bed boilers is projected to rise owing to the increase in shipments and demand for equipment in key industries such as oil & gas, utilities, and manufacturing amid the ongoing COVID-19 pandemic. Even though the high maintenance cost of CFB boilers is affecting its adoption at a large scale, its fuel flexibility advantage is helping participants in the market to capitalize on revenue opportunities in the manufacturing sector. The players in the circulating fluidized bed (CFB) boilers market are involved in intense R&D activities. The players are investing heavily in these activities to gain a competitive edge over other equipment providers.
Asia Pacific is likely to position itself as a leader in the global circulating fluidized bed (CFB) boilers market. The market growth in this region can be attributed to rising demand for energy as a result of rapid industrialization. As such, there is a huge need to adopt sustainable methods of energy generation. The majority of the demand is expected to come from India and China, owing to their growing population and increasing demand to meet energy demands.
Within the developed countries, North America is projected to boost the demand for circulating fluidized bed boilers due to emphasis on clean energy and better awareness among end users.
The reopening of country borders is helping to resolve transport and logistic issues, owing to stringent regulations being followed during the transportation of raw materials amid the ongoing COVID-19 pandemic. Equipment manufacturers are conducting data-driven research before investing in new technologies for designing circulating fluidized bed boilers.
China is presently witnessing a decline in new infections and showing signs of supply chain recovery. However, the U.S. and other regions of the world are bracing themselves, as the production and movement of goods are slow. Thus, global supply chains are set for a major overhaul, as the pandemic has exposed the vulnerability of countries and companies that rely heavily on the limited number of trading partners.
The high cost of maintenance for CFB boilers may hamper the growth of the circulating fluidized bed (CFB) boilers market over the forecast period. Nevertheless, the rising demand for clean energy may help to expand growth avenues in the global circulating fluidized bed (CFB) boilers market.
Circulating fluidized bed boilers provide high efficiency in coal fired power by reducing the greenhouse gas (GHG) emission. This leads to high steam efficiency, which further leads to better performance, thus aiding the expansion of the global circulating fluidized bed (CFB) boilers market in the upcoming years. Furthermore, owing to less carbon emissions, there are possibilities that more communities, regions, and countries may adopt this kind of coal-powered fluidized bed boilers. This might lead to various business opportunities in the global circulating fluidized bed (CFB) boilers market throughout the forecast period.
Industrialization and infrastructural development are at the forefront for various regions, especially densely populated countries such as India and China. The growing population numbers in the region and the massive requirement of energy generation across numerous countries are fueling the expansion of the circulating fluidized bed (CFB) boilers market.
Government bodies of numerous countries are focusing on promoting methods related to the production of clean energy. Various countries are increasing investments in the clean energy sector, which will further bring tremendous growth opportunities for the circulating fluidized bed (CFB) boilers market players. The ability of the circulating fluidized bed boilers to reduce NOx (oxides of nitrogen) and COx (oxides of carbon) will serve as a vital growth-generating factor.
The rate of CFB boilers installation is found to be the highest in the oil & gas industry, as it is one of the largest consumers of power. Over the forecast period, this industry is expected to remain the dominant application segment in the global circulating fluidized bed (CFB) boilers market. However, analysts at Transparency Market Research (TMR) expect the application of CFB boilers to significantly increase across chemical and manufacturing industries.
Manufacturing of commodities require the use of a variety of industrial machineries that directly or indirectly use power. Hence, the application of CFB boilers in the manufacturing segment is projected to increase during the assessment period. Since CFB boilers have fuel-flexibility, their installation across manufacturing industries is likely to surge at a fast pace during the forecast period.
Attribute | Detail |
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Market Size Value in 2020 (Base Year) | 116.7 GWe |
Market Forecast Value in 2031 | 783.1 GWe |
Growth Rate (CAGR) | 12.2% |
Forecast Period | 2021-2031 |
Quantitative Units | GWe for Volume |
Market Analysis | Includes cross segment analysis at global as well as regional level. Qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, supply chain analysis, and parent industry overview. |
Competition Landscape |
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Format | Electronic (PDF) + Excel |
Market Segmentation |
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Regions Covered |
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Countries Covered |
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Companies Profiled |
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Customization Scope | Available upon Request |
Pricing | Available upon Request |
Circulating Fluidized Bed (CFB) Boilers Market – Segmentation
TMR’s research study assesses the global circulating fluidized bed (CFB) boilers market in terms of type, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global circulating fluidized bed (CFB) boilers market.
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1. Preface
1.1. Report Description
1.2. Market Segmentation
1.2.1. Global Circulating Fluidized Bed (CFB) Boilers Market Segmentation
1.3. Report Methodology
1.4. Abbreviations
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Value Chain Analysis
3.3. Market Drivers
3.4. Market Restraints
3.5. Opportunities
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat from Substitutes
3.6.5. Degree of Competition
3.7. CFB Boilers: Market Attractiveness Analysis
4. Global Circulating Fluidized Bed (CFB) Boilers Market: Type Segment Analysis
4.1. Global Circulating Fluidized Bed (CFB) Boilers Market: Type overview
4.2. Global Circulating Fluidized Bed (CFB) BoilersInstalled Capacity Share, by Type, 2021 and 2031
4.3. CFB Boilers Market: Type Analysis Global Installed Capacity Of Subcritical Circulating Fluidized Bed (CFB) Boilers, 2021-2031, (GWe)
4.3.1. Global Installed Capacity of Supercritical Circulating Fluidized Bed (CFB) Boilers, 2021-2031, (GWe)
4.3.2. Global Installed Capacity Of Ultra-Supercritical Circulating Fluidized Bed (CFB) Boilers, 2021-2031, (GWe)
5. Global Circulating Fluidized Bed (CFB) Boilers Market: Application Analysis
5.1. Global Circulating Fluidized Bed (CFB) Boilers Market: Application overview
5.1.1. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity Share, by Application, 2021 and 2031
5.2. Circulating Fluidized Bed (CFB) Boilers Market: Application Analysis
5.2.1. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity in Oil & Gas Industry, 2021-2031 (GWe)
5.2.2. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity in Chemicals, 2021-2031 (GWe)
5.2.3. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity in Manufacturing, 2021-2031 (GWe)
5.2.4. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity in Others, 2021-2031 (GWe)
6. Global Circulating Fluidized Bed (CFB) Boilers Market: Regional Analysis
6.1. Global Circulating Fluidized Bed (CFB) Boilers Market: Regional Analysis
6.1.1. Global Circulating Fluidized Bed (CFB) Boilers Installed Capacity Share, by Region, 2021 and 2031
6.2. Circulating Fluidized Bed (CFB) Boilers Market: Regional analysis
6.2.1. North America
6.2.1.1. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in North America, by Type, 2021-2031 (GWe)
6.2.1.2. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in North America, by Application, 2021-2031 (GWe)
6.2.2. Europe
6.2.2.1. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in Europe, by Type, 2021-2031 (GWe)
6.2.2.2. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in Europe, by Application, 2021-2031 (GWe)
6.2.3. Asia Pacific
6.2.3.1. Installed capacity Circulating Fluidized Bed (CFB) Boilers in Asia Pacific, by Type, 2021-2031 (GWe)
6.2.3.2. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in Asia Pacific, by Application, 2021-2031 (GWe)
6.2.4. Latin America
6.2.4.1. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in South East Asia, by Type, 2021-2031 (GWe)
6.2.4.2. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in South East Asia, by Application, 2021-2031 (GWe)
6.2.5. Middle East & Africa
6.2.5.1. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in Middle East & Africa, by Type, 2021-2031 (GWe)
6.2.5.2. Installed capacity of Circulating Fluidized Bed (CFB) Boilers in Middle East & Africa, by Application, 2021-2031 (GWe)
7. Company profiles
7.1. Alfa Laval AB
7.1.1. Company Overview
7.1.2. Financial Overview
7.1.3. Business Strategies
7.1.4. Recent Developments
7.2. Alstom SA
7.2.1. Company Overview
7.2.2. Financial Overview
7.2.3. Business Strategies
7.2.4. Recent Developments
7.3. AE&E Nanjing Boiler Co. Ltd.
7.3.1. Company Overview
7.3.2. Business Strategies
7.3.3. Recent Developments
7.4. Babcock & Wilcox Enterprises, Inc.
7.4.1. Company Overview
7.4.2. Financial Overview
7.4.3. Business Strategies
7.4.4. Recent Developments
7.5. Bharat Heavy Electricals Limited (BHEL)
7.5.1. Company Overview
7.5.2. Financial Overview
7.5.3. Business Strategies
7.5.4. Recent Developments
7.6. DongFang Boiler Group Co. Ltd.
7.6.1. Company Overview
7.6.2. Financial Overview
7.6.3. Business Strategies
7.6.4. Recent Developments
7.7. Doosan Heavy Industries and Construction Co. Ltd.
7.7.1. Company Overview
7.7.2. Financial Overview
7.7.3. Business Strategies
7.7.4. Recent Developments
7.8. Typeosa Heavy Industries Corp
7.8.1. Company Overview
7.8.2. Financial Overview
7.8.3. Business Strategies
7.8.4. Recent Developments
7.9. Amec Foster Wheeler plc
7.9.1. Company Overview
7.9.2. Financial Overview
7.9.3. Business Strategies
7.10. Harbin Boiler Engineering Co., Ltd.
7.10.1. Company Overview
7.10.2. Business Strategies
7.11. Metso Oyj
7.11.1. Company Overview
7.11.2. Financial Overview
7.11.3. Business Strategies
7.11.4. Recent Developments
7.12. Mitsubishi Heavy Industries, Ltd.
7.12.1. Company Overview
7.12.2. Financial Overview
7.12.3. Business Strategies
7.12.4. Recent Developments
7.13. Shanghai Boiler Works Co., Ltd.
7.13.1. Company Overview
7.13.2. Financial Overview
7.13.3. Business Strategies
7.13.4. Recent Developments
7.14. Thermax. Ltd
7.14.1. Company Overview
7.14.2. Financial Overview
7.14.3. Business Strategies
7.14.4. Recent Developments
List of Tables
Table 01: Global Circulating Fluidized Bed (CFB) Boilers Market Revenue (GWe) Forecast, by Type, 2021-2031
Table 02: Global Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 03: Global Circulating Fluidized Bed (CFB) Boilers Market Revenue (GWe) and Forecast, by Region, 2021-2031
Table 04: North America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 05: North America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 06: North America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Country, 2021-2031
Table 07: U.S. Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 08: Canada Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 09: U.S. Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 10: Canada Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 11: Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 12: Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 13: Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Country and Sub-region, 2021-2031
Table 14: Germany Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 15: Germany Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 16: U.K. Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 34: U.K. Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 17: France Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 18: France Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 19: Spain Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 20: Spain Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 21: Italy Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 22: Italy Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 23: Rest of Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 24: Rest of Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 25: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 26: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 27: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Country and Sub-region, 2021-2031
Table 28: China Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 29: China Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 30: India Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 31: India Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 32: Japan Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 33: Japan Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 34: ASEAN Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 35: ASEAN Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 36: Rest of Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 37: Rest of Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 38: Latin America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 39: Latin America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 40: Latin America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Country and Sub-region, 2021-2031
Table 41: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 42: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 43: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 44: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Country and Sub-region, 2021-2031
Table 45: GCC Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 46: GCC Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 47: South Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 48: South Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
Table 49: Rest of Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Type, 2021-2031
Table 50: Rest of Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, by Application, 2021-2031
List of Figures
Figure 01: Global Circulating Fluidized Bed (CFB) Boilers Market Share, by Region, 2021-2031
Figure 02: Global Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 03: Global Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Type
Figure 04: Global Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 05: Global Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Application
Figure 06: Global Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis By Region Type, 2021 and 2031
Figure 07: Global Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Region, 2021
Figure 08: North America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, 2021-2031
Figure 09: North America Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Country
Figure 10: North America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 11: North America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 12: North America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country, 2021 and 2031
Figure 13: Europe Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, 2021-2031
Figure 14: Europe Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Country and Sub-region
Figure 15: Europe Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 16: Europe Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 17: Europe Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country and Sub-region, 2021-2031
Figure 18: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, 2021-2031
Figure 19: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Country and Sub-region
Figure 20: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 21: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021 and 2031
Figure 22: Asia Pacific Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country and Sub-region, 2021-2031
Figure 23: Latin America Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, 2021-2031
Figure 24: Latin America Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Country and Sub-region
Figure 25: Latin America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 26: Latin America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 27: Latin America Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country and Sub-region, 2021-2031
Figure 28: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Size (GWe) Forecast, 2021-2031
Figure 29: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Attractiveness Analysis, by Country and Sub-region
Figure 30: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Type, 2021-2031
Figure 31: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 32: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country and Sub-region, 2021-2031
Figure 33: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Application, 2021-2031
Figure 34: Middle East & Africa Circulating Fluidized Bed (CFB) Boilers Market Value Share Analysis, by Country and Sub-region, 2021-2031