The global circulating fluidized bed boilersmarket isexpected to expand at a staggering CAGR of 11.5% during 2015 to 2023, says anupcoming report by Transparency Market Research(TMR).
Growing concerns over carbon emission is expected to drive the globalcirculating fluidized bed boilers market. This is because circulating fluidizedbed boilers have low heating properties that minimize the harmful emissions.
On the basis of segmentation, in terms of applications, the globalcirculating fluidized bed boilers market is segmented into oil and gas,chemicals, and manufacturing. Of these, oil and gas is expected to dominate themarket due to fuel flexibility it offers. This may push the global circulatingfluidized bed boilers market to expand in the upcoming years.
In terms of feedstock, the global circulating fluidized market issegmented into biomass, peat, and coal. Among these, the coal segment isexpected to lead the market during the forecast period. This is mainly due tothe abundant availability of coal at a cheaper cost.
Power Industry to Boost Circulating Fluidized BedBoilers Market
The circulating fluidized bed boilers can benefit the power sector inmany ways, owing to the expansion of the global circulating fluidized bedboilers market.
Circulating fluidized bed provides higher efficiency in coal fired powerby reducing the green house emission. This leads to high steam efficiency whichfurther leads to better performance, thus aiding in the global circulatingfluidized bed boilers during the upcoming years.
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Further, when there is less carbon emission there are possibilities thatmore communities, more regions, and more countries may adopt this kind of coalpowered fluidized bed boilers. This might lead to various growth opportunitiesin the global circulating fluidized bed boilers in the upcoming years.
One of the classic examples is Malaysia leading towards being one of theworld leaders in boosting demand for coal power energy generation. According toone of the recent studies, Malaysia will adopt the coal as main fuel for energyfrom 2015 to 2023. This may further expand the global circulating fluidized bedboilers in the forthcoming years.
The high cost of maintenance may hamper the growth in the globalcirculating fluidized bed boilers market over the forecast period.Nevertheless, the growing demand for clean energy may increase the growthavenues in the global circulating fluidized bed boilers market.
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Asia Pacific to Emerge as a Dominant Region
Asia Pacific is likely to position itself as a leader in the globalcirculating fluidized bed boilers market. The growth in this region canpredominantly be due to rising demand for energy due to rapidindustrialization. There is a huge need to adopt sustainable methods of energygeneration. The majority of the demand is expected to come from India andChina, owing to their growing population and growing demand to meet the energydemands.
Among the developed economies, North America is expected to boost thedemand for circulating fluidized bed boilers. The growth can be attributed tobetter awareness and emphasis on clean energy.
Some of the stalwarts operating in the global circulating fluidized bedboilers market include AE&E Nanjing Boiler Co. Ltd., Babcock &Wilcox Enterprises Inc., DongFang Boiler Group Co. Ltd., Amec FosterWheeler plc, Alfa Laval AB, and Bharat Heavy Electricals Ltd.
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