Circulating Fluidized Bed Boiler Market

Global Circulating Fluidized Bed Boiler Market Size (2024-2032):

The size of the global circulating fluidized bed boiler market was worth USD 490 million in 2023. The global market is anticipated to grow at a CAGR of 8.9% from 2024 to 2032 and be worth USD 1055 million by 2032 from USD 534 million in 2024. 

Current Scenario of the Global Circulating Fluidized Bed Boiler Market

Due to increased concern about stringent adherence to harmful norms and rules, the global circulating fluidized bed boilers market has been steadily growing in recent years. It is predicted to rise significantly over the next seven years. Increased population, combined with variable oil and gas costs, is likely to propel thermal power plants forward. However, traditional coal igniting processes result in significant NOx and SOx emissions linked to acid rain. Adding new equipment to meet pollution requirements comes at a hefty expense in terms of capital. In addition, traditional boiler designs aren't flexible enough to fulfil a wide range of industry needs. CFB boilers, on the other hand, are made of high-temperature materials, which allow the fuel to be heated quickly.

Furthermore, once the energy enters CFB boiler chambers, it is efficiently heated above ignition temperature. Other boilers used for the same purpose have drawbacks, including fire extinguishing and unsteady combustion. However, because there is a limited amount of fuel inside CFB boiler chambers compared to high-temperature materials, these issues can be overcome. Therefore, it is a significant factor expected to open up new possibilities in the worldwide circulating fluidized bed boiler market.

MARKET DRIVERS

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, brown coal, wood biomass, and others, can be burned in CFB boilers. Compared to bubbling fluidized bed (BFB) boilers, CFB boilers can handle a broader range of fuels. Bituminous coal, anthracite, petroleum coke, paper sludge, RPF (refuse paper and plastic fuel), and waste tires are 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 CFB boilers. One chemical molecule that is thought to harm the environment is thermal nitrogen oxide (NOx). NOx production is mainly influenced by combustion temperature. The combustion temperature in a standard boiler is between 1,400 and 1,500°C, but the combustion temperature in a CFB boiler is between 800 and 900°C. As a result, the production of thermal nitrogen oxides is reduced.

These factors work together to boost demand for circulating fluidized bed boilers, increasing the global circulating fluidized bed boiler market. Organizations have been advised to look for energy-efficient power generation techniques due to the rising demand for cost-effective and cleaner combustion technology and rigorous environmental requirements. Several efforts are being made to direct these difficulties and discover environmentally acceptable fuel combustion solutions. This technology has grown popular, particularly in the power production industry, because of the low capital costs of setting up and operating circulating fluidized bed (CFB) boilers. CFB boilers, on the other hand, are prone to wear and tear, which raises maintenance costs and slows market expansion. Because of the high velocity of particles falling inside CFB boilers, casting materials used in CFB boilers are a big concern. Furthermore, due to platform obstruction inside CFB boilers, the course of combustion particles is altered, resulting in a rotating vortex. The upward force applied by the air supply increases the density of particles, which enhances the CFB boiler's wearability.

MARKET RESTRAINTS

The smoke-air system has a relatively high resistance, and the fan consumes a lot of power.

This is because the air distribution plate and bed in the air supply system are significantly more prominent than the air supply resistance in the pulverized coal and chain furnaces, and the resistance of the gas-solid separator in the flue gas system is increased. The abrasion of the heating surface is more problematic, and it might become a significant factor impacting the boiler's long-term continuous functioning. This is due to the high dust concentration in the flue gas, which might cause substantial wear on the furnace's water wall and gas-solid separator. If the partition is inefficient or malfunctions, it will significantly wear on the convective heating surface. Auxiliary equipment requirements are increasing. Additional equipment, such as slag coolers or high-pressure fans, can dramatically impact performance or cause operational issues. These are some of the major restraints of the global circulating fluidized bed boiler market. 

IMPACT OF COVID-19 ON THE GLOBAL CIRCULATING FLUIDIZED BED BOILER MARKET

The new coronavirus is an unprecedented worldwide pandemic that has spread to over 180 nations and resulted in massive human and economic losses worldwide. Because it relied on oil and gas, energy and power, and other industrial sectors, the circulating fluidized bed boiler market has been badly impacted by the COVID-19 epidemic. Furthermore, during the COVID-19 period, temporary oil refinery shutdowns decreased circulating fluidized bed boilers for a range of fuels. However, post-COVID-19, a rise in global energy needs and fuel consumption is anticipated to propel the circulating fluidized bed boilers market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Circulating Fluidized Bed Boiler Market Analysis By Product

Based on product, the supercritical segment plays a dominant role in the global circulating fluidized bed boiler market during the forecast period. Boilers that operate at temperatures and pressures of 538-565 0C and above 3,200 psi are known as supercritical steam generators. There are no drums in these systems, and the evaporation endpoint is flexible. As a result, the evaporation process is completed in a single pass through the evaporator. They are primarily used to generate power, and unlike other alternatives, they do not produce bubbles. The use of novel materials that can survive the high temperature and pressure associated with supercritical boilers has resulted from ongoing scientific breakthroughs.

Global Circulating Fluidized Bed Boiler Market Analysis By Capacity

In 2023, the 100–200 MW segment will dominate the global circulating fluidized bed boiler market, and it is projected to escalate at an annual rate of 8.4% throughout the forecast period. Circulating fluidized bed boilers with 100-200 MW capacities are commonly employed in power plants since they aid in anthracite usage while lowering SOx, NOx, and dust emissions. One of the primary underlying market variables that have affected the business dynamics is rising environmental concerns about industrial emissions. Because of their capacity to lower energy expenses and emit low levels of pollutants, multi-fuel plants have seen a significant increase in deployment during the previous decade. In addition, Low-capacity CFB boilers are being used across the industrial sector owing to the quick accessibility of raw materials.

Global Circulating Fluidized Bed Boiler Market Analysis By Fuel Type

The coal fuel type segment generated the most revenue in 2023, and it is expected to expand at a CAGR of 8.7% during the forecast period. The use of coal as a primary fuel in circulating fluidized bed boilers has several advantages, including fuel flexibility and the ability to feed CFB boilers with wet coal, which reduces dangerous environmental emissions.

Global Circulating Fluidized Bed Boiler Market Analysis By Application

The energy & power application generated the most revenue and is expected to rise at a CAGR of 9.0% over the projected period. This is because circulating fluidized bed boilers have a wide range of fuel adaptability, stability, effective combustion, and improved load regulation performance, making them ideal for usage in the energy and power sector.

REGIONAL ANALYSIS

During the forecast period, the Asia-Pacific circulation fluidized bed boiler market is expected to grow at the fastest rate of 9.5 per cent, accounting for 60.7 per cent of the overall global circulating fluidized bed boiler market share. Since 1980, China has been rapidly developing CFB combustion technology. Furthermore, China's rapid growth in the energy, power, and industrial sectors is mainly responsible for the quick increase in coal-fired CFB boilers. Another vital aspect driving demand for CFB boilers is their ability to minimize SOx and NOx emissions.

North America is anticipated to have a significant global circulating fluidized bed boiler market share due to the growing demand and need for high-efficiency boilers in the U.S. and Canada.

KEY PLAYERS IN THE GLOBAL CIRCULATING FLUIDIZED BED BOILER MARKET

Companies playing a prominent role in the global circulating fluidized bed boiler market include Mitsubishi Power, JFE Engineering Corporation, Valmet, Andritz, Alstom, Industrial Boilers America, Sumitomo Heavy Industries Ltd., Babcock & Wilcox Enterprise Inc., Thermodyne Engineering Systems, EBARA Environmental Plant Co. Ltd., and Others.

RECENT HAPPENINGS IN THE GLOBAL CIRCULATING FLUIDIZED BED BOILER MARKET

• On February 4, Tiruchi-based Bharat Heavy Electricals Limited (BHEL) successfully demonstrated the full-load functioning of its first 250 MW Circulating Fluidized Bed (CFB) boiler delivered to Neyveli Lignite Corporation (NLC) at Neyveli. The erection of the second unit is well-progressed. It is said to be the largest CFB boiler in Southeast Asia.
• Mitsubishi Power, at Therma South Inc., announced a long-term service agreement for three years for inspection activities of boiler ultrasound gauge mapping. It further added that the technical knowledge of the CFB boilers by the team would be helpful for improving the reliability of power plants and also offer an efficient power supply.

DETAILED SEGMENTATION OF THE GLOBAL CIRCULATING FLUIDIZED BED BOILER MARKET INCLUDED IN THIS REPORT

This research report on the global circulating fluidized bed boiler market has been segmented and sub-segmented based on product, capacity, fuel type, application and region.

By Product

• Ultra-supercritical
• Supercritical
• Subcritical

By Capacity

• Less than 100MW
• 100-200 MW
• 300 MW & above

By Fuel Type

• Biomass
• Coal
• Others

By Application

• Industrial
• Energy & Power
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa