Circulating Fluidized Bed Boiler Market by Technology, Feedstock, and Geography - Forecast and Analysis 2021-2025

The circulating fluidized bed boiler market share is expected to increase by 31.35 gigawatts from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.65%.

This circulating fluidized bed boiler market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers circulating fluidized bed boiler market segmentation by technology (subcritical, supercritical, and ultra-supercritical), geography (APAC, North America, Europe, South America, and MEA), and feedstock (coal, petcoke, biomass, and others). The circulating fluidized bed boiler market report also offers information on several market vendors, including AE and E Nanjing Boiler Co. Ltd., Alfa Laval AB, Alstom Holdings SA, Babcock and Wilcox Enterprises Inc., Bharat Heavy Electricals Ltd., Dongfang Boiler Group Co. Ltd., Doosan Lentjes GmbH, E.ON SE, F, and H Crone BV, and Formosa Heavy Industries Corp. among others.

What will the Circulating Fluidized Bed Boiler Market Size be During the Forecast Period?

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Circulating Fluidized Bed Boiler Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The stringent regulations on carbon dioxide emissions is notably driving the circulating fluidized bed boiler market growth, although factors such as high initial investment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the circulating fluidized bed boiler industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Circulating Fluidized Bed Boiler Market Driver

One of the key factors driving growth in the circulating fluidized bed boiler market is the stringent regulations on carbon dioxide emissions. Emissions from burning coal account for the largest share of carbon dioxide emissions from human activity. Government bodies worldwide are focusing on the reduction of GHG emissions. Agencies such as EPA, the Intergovernmental Panel on Climate Change, and the Climate Change Act of 2008 have laid down targets for reducing emissions. For instance, the US, the UK, and China have laid down restrictions on carbon dioxide emissions from new coal power plants. These regulations add impetus to the use of circulating fluidized bed boilers. The possibility of achieving low emission through the use of circulating fluidized bed boilers has encouraged their adoption in utilities and the chemical industry. The adoption also helps accomplish emission targets.

Key Circulating Fluidized Bed Boiler Market Trend

The use of biomass as a fuel in boiler is another factor supporting the circulating fluidized bed boiler market share growth. Amidst the concerns related to climate change that gravitates toward incalculable environmental damage, it has been a serious global challenge to reduce dependency on fossil fuels and the emissions associated with them. This has compelled utilities and manufacturing industries to seek an alternative to fossil fuels, which resulted in the development of boilers that can utilize renewables such as biomass and waste as fuels. Vendors have developed boilers with co-firing capability that can use a mixture of coal and a wide range of renewables for power generation. This is an effective option as it reduces coal consumption along with emissions since renewables produce lower emissions in comparison to fossil fuels such as coal. By adopting co-firing boilers, the waste that would have headed to landfills is routed to be used for steam and electricity generation.

Key Circulating Fluidized Bed Boiler Market Challenge

The high initial investment will be a major challenge for the circulating fluidized bed boiler market during the forecast period. The essential components of circulating fluidized bed boilers are high pressure (HP) blower, fuel feeding system, solid recycle system, cyclone separator, superheat wing wall, and bottom ash drain, among others. The prices of these components have been increasing over the past few years because of the rise in raw material costs. These components are mainly made from bronze, polycarbonate, cast iron, stainless steel, and alloys. Because of inflation and the difficulty in the procurement of these materials, the prices of the materials are soaring. This has increased the cost of manufacturing, making circulating fluidized bed boilers more expensive than alternative boiler technologies. Circulating fluidized bed boiler plants require high capital and investment. Even though circulating fluidized bed boilers are considered cost-effective owing to the reduced emission and low fuel cost, the required high initial investment makes their adoption a challenge for plant owners that are low on financial resources. Thus, limiting the use of circulating fluidized bed boilers to a few.

This circulating fluidized bed boiler market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global circulating fluidized bed boiler market as a part of the global heavy electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the circulating fluidized bed boiler market during the forecast period.

Who are the Major Circulating Fluidized Bed Boiler Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AE and E Nanjing Boiler Co. Ltd.
• Alfa Laval AB
• Alstom Holdings SA
• Babcock and Wilcox Enterprises Inc.
• Bharat Heavy Electricals Ltd.
• Dongfang Boiler Group Co. Ltd.
• Doosan Lentjes GmbH
• E.ON SE
• F and H Crone BV
• Formosa Heavy Industries Corp.

 

This statistical study of the circulating fluidized bed boiler market encompasses successful business strategies deployed by the key vendors. The circulating fluidized bed boiler market is fragmented and the vendors are deploying growth strategies such as pricing strategies to compete in the market.

Product Insights and News

• Alfa Laval AB - The company offers circulating fluidized bed boiler brands such as Aalborg OC and Aalborg OC-Tci.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The circulating fluidized bed boiler market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Circulating Fluidized Bed Boiler Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the circulating fluidized bed boiler market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the heavy electrical equipment market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Aftermarket and service
• Industry innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Circulating Fluidized Bed Boiler Market?

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53% of the market's growth will originate from APAC during the forecast period. China, Japan, and Australia are the key markets for circulating fluidized bed boilers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increased demand for energy in countries such as China and India will facilitate the circulating fluidized bed boiler market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, APAC witnessed the outbreak of COVID-19. The rise in the number of COVID-19 cases led to the imposition of lockdowns and restrictions on most commercial and industrial activities, which led to reduced demand for electricity. The initiation of vaccination drives is expected to reduce the number of COVID-19 cases in the region. Thus, the governments are lifting restrictions on commercial and industrial sectors, which is leading to an increase in the demand for electricity. This, in turn, will require the power plants to produce more electricity, which will lead to an increase in the demand for circulating fluidized bed boilers in the region during the forecast period.

What are the Revenue-generating Technology Segments in the Circulating Fluidized Bed Boiler Market?

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The circulating fluidized bed boiler market share growth by the subcritical segment will be significant during the forecast period. Subcritical circulating fluidized bed boilers have the highest global install base. The technology is a proven, viable technology ideal to be adopted for power generation. The limitations of supercritical boilers in terms of reliability and size paved the way for the adoption of subcritical boilers in several sectors such as industries and utilities where the capacity requirement was high.

This report provides an accurate prediction of the contribution of all the segments to the growth of the circulating fluidized bed boiler market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Circulating Fluidized Bed Boiler Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 2.65%
Market growth 2021-2025	31.35 GW
Market structure	Fragmented
YoY growth (%)	2.98
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	APAC at 53%
Key consumer countries	China, US, Japan, Australia, and Italy
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AE and E Nanjing Boiler Co. Ltd., Alfa Laval AB, Alstom Holdings SA, Babcock and Wilcox Enterprises Inc., Bharat Heavy Electricals Ltd., Dongfang Boiler Group Co. Ltd., Doosan Lentjes GmbH, E.ON SE, F and H Crone BV, and Formosa Heavy Industries Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Circulating Fluidized Bed Boiler Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive circulating fluidized bed boiler market growth during the next five years
• Precise estimation of the circulating fluidized bed boiler market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the circulating fluidized bed boiler industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of circulating fluidized bed boiler market vendors

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