Circulating Fluidized Bed (CFB) Boilers Market: Introduction
Transparency Market Research delivers key insights on the global circulating fluidized bed (CFB) boilers market. In terms of volume, the global circulating fluidized bed (CFB) boilers market is estimated to expand at a CAGR of 12.2% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global circulating fluidized bed (CFB) boilers market.
The circulating fluidized bed boilers can benefit the power sector in many ways. Circulating fluidized bed (CFB) boilers can produce energy from a variety of fuels such as biomass, coal, and peat. Additionally, because these boilers have a very low operating temperature, they emit quite low levels of harmful gases such as carbon dioxide, nitrogen dioxide, and sulfur dioxide. Due to these advantages, the installed capacity of CFB boilers is poised to surge exponentially.
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Circulating Fluidized Bed (CFB) Boilers Market: Dynamics
Circulating fluidized bed (CFB) boilers support wide variety of fuels as compared to bubbling fluidized bed (BFB) boiler. CFB boilers are well suited to be used with bituminous coal, biomass, anthracite, petroleum coke, paper sludge, RPF (refuse paper plastic fuel), and waste tires. In addition, these boilers offer high combustion efficiency as compared to BFB boilers. Minimal environmental impact associated with use of CFB boilers is another factor that drives the growth of the global market.
Thermal nitrogen oxide (NOx) is one of the chemical compounds that is considered to negatively impact the environment. The production of NOx is mainly dependent upon combustion temperature. Combustion temperature inside regular boiler ranges from 1,400°C –1,500°C, while combustion temperature in CFB boilers ranges from 800°C –900°C. This, in turn, helps reduce production of thermal nitrogen oxides. All these factors collectively propel the demand for circulating fluidized bed (CFB) boilers, thereby augmenting the global circulating fluidized bed (CFB) boilers market.
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Circulating Fluidized Bed (CFB) Boilers Market: Prominent Regions
Asia Pacific holds major share of the global circulating fluidized bed (CFB) boilers market. The market in the region is anticipated to expand at a CAGR of more than 12.7% during the forecast period. The growth in this region can predominantly be due to rising demand for energy owing to rapid industrialization. There is a need to adopt sustainable methods of energy generation. Majority of the demand is expected to come from India and China, owing to their growing population and rising demand for energy. China is a key country of the circulating fluidized bed (CFB) boilers market Asia Pacific. It held significant share of the circulating fluidized bed (CFB) boilers market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
North America is also a prominent region of the global circulating fluidized bed (CFB) boilers market. The U.S. led the circulating fluidized bed (CFB) boilers market in North America in 2020.
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