December 31, 2019
According to the research report titled ‘Circulating Fluidized Bed Boiler Market Size By Product (Subcritical, Supercritical, Ultra-Supercritical), By Capacity (< 100 MW, 100 - 200 MW, 200 - 300 MW, > 300 MW), By Application (Utility, Oil & Gas, Petrochemical, Chemical, Others), By Fuel (Coal, Biomass, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, UK, Poland, Italy, Spain, Austria, Germany, Sweden, Russia, China, Japan, South Korea, India, Australia, Indonesia, Philippines, Saudi Arabia, UAE, Egypt, Kenya, Morocco, Nigeria, South Africa, Brazil, Argentina, Chile), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global circulating fluidized bed (CFB) boiler market is expected to register 400 GW annual installation by the year 2025.
Growing inclination towards improving production output, coupled with favorable federal measures to enhance GDP (Gross Domestic Product) growth rate are driving the CFB boiler market outlook. Surging inflow of Foreign Direct Investment is leading to rapid industrialization which in turn is aiding the market expansion. Strict government policies regarding emission mitigation, in tandem with escalating investments to upgrade conventional power generating units with sustainable technology solutions are augmenting the demand for CFB boilers across the globe.
In terms of product type, supercritical CFB boiler market will register considerable growth due to numerous ongoing R&D activities to develop innovative systems which can withstand harsh conditions. Rising adoption of high capacity heating systems is also contributing to the popularity of the product across the globe.
In terms of capacity, CFB boiler market from more than 300 MW capacity segment will grow substantially due to rising installations of large thermal power stations in order to meet the surging electricity demand.
As per fuel type, the report cites that biomass powered CFB boiler segment is expected to dominate the market during the estimated timeframe. The growth is attributed to initiatives taken by power companies to reduce carbon emission, expand energy portfolio, easy availability of raw materials, and supportive federal directives.
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Considering geographical landscape, Europe CFB boiler market is projected to gain traction during the forecast period due to favorable government policies to reduce carbon footprint. Furthermore, increasing inclination towards sustainable sources of energy and positive initiatives for improving energy utilization are aiding the market expansion. Meanwhile, rising renovation activities of existing industrial facilities, in consort with booming economy will fuel the U.S. CFB boiler market outlook.
The prominent companies operating in CFB boiler market are ThyssenKrupp Industries India, Rafako, Formosa Heavy Industries, Andritz, JFE Engineering, Alstom, Bosch Thermotechnology, Walchandnagar Industries, Valmet, Harbin Boiler, Babcock & Wilcox Enterprises, General Electric, AMEC Foster Wheeler, IHI, Mitsubishi Hitachi Power Systems, Thermax, Bharat Heavy Electricals Ltd., and Forbes Marshall.
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