World Circulating Fluidized Bed (CFB) Boilers Market - Opportunities and Forecasts, 2020-2027
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Jul 2020 |
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COVID-19
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Request Now !Circulating Fluidized Bed (CFB) is a process of providing boilers and power plants maximum flexibility in burning variety of fuels. The CFB boilers market has seen a significant growth over the past three years due to increased need for power. Additionally, companies are using CFB boilers to adhere stringent government regulations pertaining to gas emission which is also a driving factor.
CFB boilers operate at relatively lower temperatures as compared to conventional boilers, reducing the gas emission levels considerably. Low emission of gases such as carbon dioxide, sulfur dioxide and nitrogen dioxide make CFB boilers environmentally friendly which is a key driver for the market growth. Additionally, flexibility in use of fuels reduces the burden on depleting reserves of coal, as CFB encourages the use of other fuels. The CFB boilers also reduce the operational cost of boilers and power plants, which is another driving factor for the market.
Global CFB Boilers market by product
The CFB boilers product market is segmented as subcritical CFB boilers, supercritical CFB boilers and ultra supercritical CFB boilers. It is expected that supercritical and ultra supercritical boilers would have a higher market share than subcritical boilers. Supercritical and ultra supercritical boilers are used in high to very high megawatt plants; therefore, the CFB boilers used in these plants use highly advanced technologies to provide fuel efficiency and reduce gas emission.
Global CFB Boilers market by application
The application market is segmented into oil and gas industry, chemical industry, general industry and others (paper and pulp production, beverage). The oil and gas industry is using CFB boilers on a larger scale in their routine operations as compared to other industry verticals; therefore, it would have the highest revenue in the market. The chemical industry is expected to increase the use of CFB boilers due to operational efficiency and reduced gas emission. Therefore, it is projected that the chemical industry would have the highest growth rate in the market.
Global CFB Boilers market by geography
The geographic market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). The North American market is the most mature market for CFB boilers as companies in this region adopted the CFB technology much earlier due to stringent gas emission laws and control operational cost. The Asia-Pacific region has the highest demand for energy, as most countries in this region are developing countries and industrial energy needs are very high. Therefore, it is expected that the CFB boilers market would have the highest demand in this region.
Competitive landscape
Product launches is the key strategy adopted by most companies in the market to increase market share. Some of the key companies profiled in this report are Alfa Laval Aalborg A/S, Alstom, AE&E Nanjing Boiler Co. Ltd., BHEL, Formosa Heavy Industries Corp., Foster Wheeler, DongFang Boiler, Mitsubishi Heavy Industries Ltd., Shanghai Boiler Works Co. Ltd, Thermax and Harbin Boiler Co. Ltd.
High level analysis
The report analyses the potency of suppliers and buyers along with threat of new entrants and substitute products, based on the Porter’s five force analysis. This report also analyses the impact of top ten factors of the market in the short and medium term. The key investment pockets are analyzed based on the growth estimations of each segment. The key strategies adopted by the companies are analyzed in detail to give implications of the competitive scenario.
Reason for doing the study
The CFB market has potential to grow due to rising awareness for the need to control gas emission and increase operational efficiency. The report gives a deep dive-analysis of applications in various sectors of the market to give market players an understanding about key growth potential to maximize profits. The report also studies the implications regarding government regulations, so that companies can understand the requirements of the law and adhere to them.
KEY BENEFITS
- This report analyses the factors that are driving and limiting the growth of the market
- Market estimations are done according to the market trends for the period 2013-2020 with 2012 as base revenue
- Analysis of key strategies adopted by market players is elaborated to provide in-depth understanding of the market dynamics
- Deep-dive analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
- In-depth analysis of segments such as products and end-users provide insights that would allow companies to gain competitive edge
KEY DELIVERABLES
The global Circulating Fluidized Bed (CFB) Boilers market is segmented into products, applications and geographies, the segments are as follows:
MARKET BY PRODUCT
- Subcritical CFB Boilers
- Supercritical CFB Boilers
- Ultra Supercritical CFB Boilers
MARKET BY APPLICATION
- Oil and Gas Industry
- Chemical Industry
- General Industry
- Others (Paper and Pulp Production, Beverage)
MARKET BY GEOGRAPHY
- North America
- Europe
- Asia-Pacific
- RoW
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