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Circulating Fluidized Bed Boiler Market - Segments, Analysis, and Forecasts by Technavio
[August 10, 2017]

Circulating Fluidized Bed Boiler Market - Segments, Analysis, and Forecasts by Technavio

According to the latest market study released by Technavio, the global circulating fluidized bed boiler market is expected to grow at a CAGR of more than 2% during the forecast period.

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Technavio has published a new report on the global circulating fluidized bed boiler market from 2017 ...

Technavio has published a new report on the global circulating fluidized bed boiler market from 2017-2021. (Graphic: Business Wire)

This research report titled 'Global Circulating Fluidized Bed Boiler Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

The demand for circulating fluidized bed boiler is expected to increase due to stringent emission standards set by the governments in countries like China, India, and the US. This will drive the need for replacement of old boilers with circulating fluidized bed boilers to enhance efficiency while upcoming power plants are also likely to adopt them to comply with emission standards set by the government.

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The market research analysis categorizes the global circulating fluidized bed boiler market into three major feedstock segments. They are:

  • Coal
  • Petcoke
  • Biomass

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Global circulating fluidized bed boiler market by coal

Coal has been the primary feedstock for power generation as it is the world's most abundant and widely distributed fossil fuel. According to IEA, the world energy demand is expected to grow by 37% by 2040, and due to the abundance of coal reserves, coal is expected to remain the dominant fuel to cater to the growing demand for power well into the future. However, among the highest contributors of CO2 emissions, coal occupies the top spot.

According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for power research, "Emission regulations formulated to mitigate the effects of climate change are expected to drive the need for replacement of old inefficient boilers from existing power plants. Circulating fluidized bed boilers in coal-based power plants will help reduce emissions while enhancing efficiency."

Global circulating fluidized bed boiler market by petcoke

With the emission regulation for power plants getting stringent, alternative fuels such as petcoke have been preferred in several industries. Petcoke has low ash and moisture content, and it has a low volatility of 8%-10%. These attributes ensure that petcoke has a greater calorific value than coal. However, petcoke contains high volumes of sulfur, which makes it ideal for use in circulating fluidized bed boiler. This boiler system can capture large amounts of sulfur by adding limestone to combustible mix during the combustion process. In addition, the long duration of the burning process ensures complete combustion of low-volatile petcoke.

Global circulating fluidized bed boiler market by biomass

Countries such as the US, the UK, and China have encouraged the use of biomass in various sectors like transportation and power generation sectors. Biomass as a feedstock plays a significant role in reducing CO2 emissions in energy production. Since biomass is carbon-neutral, its use as a feedstock in circulating fluidized bed boiler results in carbon offsetting during combustion, thus lowering the carbon footprint of the process while increasing efficiency.

"The benefits offered by biomass have increased its rate of adoption in power generating industries. Technology development over the years has made circulating fluidized bed an ideal technology to be used for large-scale power generation utilizing a broad range of solid biomass fuels," says Thanikachalam.

The top vendors highlighted by Technavio's market research analysts in this report are:

  • Amec Foster Wheeler
  • Babcock & Wilcox Enterprises
  • General Electric

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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