Albany, NY, Dec. 3, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Global Circulating Fluidized Bed (CFB) Boilers Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023." According to this report, the global installed capacity of CFB boilers market stood at 92 GWe in 2014 and is expected to reach 241.9 GWe by 2023 at a CAGR of 11.25% from 2015 to 2023.
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Power generation is one of the most important industries in the world today. It caters to a wide range of other industry segments. The most common fuels used in generation of thermal power are coal, oil, gas, peat, and waste derived fuels. Most of these fuels have been derived from non-renewable sources such as crude oil and other fossil fuels. Continuous depletion of these resources on a large scale, high degree of carbon emission into the atmosphere, and rising quantity of hazardous waste from energy generation processes are some of the important factors affecting the energy generation market.
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Circulating fluidized bed (CFB) boilers utilize the fluidized bed technology and offer fuel flexibility. The flexibility to use a wide range of fuels such as low quality coal, biomass, and municipal solid waste is driving the demand for CFB boilers in the energy market. International environmental mandates for reducing emissions is one of the major drivers for the adoption of CFB boilers across the globe.
The market for CFB boilers has been segmented on the basis of type, application, and region. Subcritical boilers held 60% share of the CFB market in 2014. In terms of application, global estimates for 2014 show that the oil and gas, and chemicals segment accounted for nearly 36% and 34% share, respectively, of the CFB market. The difference in the market share is attributed to the fact of waste heat generation and utilization is more in oil and gas segment.
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Demand for CFB boilers is expected to increase gradually in the future as these boilers offer energy savings which contribute to increase in revenues. The CFB boilers market has been segmented as follows:
Circulating Fluid Bed Boilers Market: By Type
Circulating Fluid Bed Boilers Market: By Application
- Oil and Gas
Circulating Fluid Bed Boilers Market: By Region
- North America
- China, Japan and Australia
- South East Asia
- Rest of World
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