08 Feb 2016 06:02:59
Global CFB Boilers Market to Reach Installed Capacity of 241.9 GWe by 2023, Rising Demand for Energy to be Major Growth Driver
The global circulating fluidized bed (CFB) boilers market, estimating it to expand at a healthy CAGR of 11.25% over the period from 2015 to 2023 and attain an installed capacity of 241.9 GWe by the end of the forecast period. The research report titled, “Global Circulating Fluidized Bed (CFB) Boilers Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023”, states that the installed capacity of the worldwide market for CFB boilers reached 92 GWe in 2014.
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According to the report, the increasing demand for energy across the world is the prime driving force behind the rise of the global CFB boilers market. Analysts at TMR expect the rising prominence of clean energy to boost the demand for CFB boilers significantly during the forecast period.
The report evaluates the global CFB boilers market on the basis of boiler type, their application, the regional spread of this market. By boiler type, the market has been categorized into subcritical boilers, supercritical boilers, and ultra-supercritical boilers. In 2014, the subcritical boilers segment led the overall market with a share of 60%.
Application wise, the report classifies the worldwide CFB boilers market into the oil and gas, manufacturing, chemicals, and various other industries. The demand for CFB boilers was the highest from the oil and gas industry in 2014, reaching a share of approximately 36% in the overall demand. The chemicals industry accounted for a share of 34% in the global demand for CFB the same year.
Regionally, the market study segments the global CFB boilers market into North America, Europe, South East Asia, India, China, Japan and Australia, and the Rest of the World. Among these, South East Asia, India, China, Japan, and Australia have jointly held the leading position in the worldwide market for CFB boilers at present. The rising demand for energy in this region is the key factor driving the remarkable growth of this market in these regions, states the study.
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Europe is the second largest regional market for CFB boilers across the world and is expected to retain its position over the forecast period. The North America CFB boilers market, however, is likely to show moderate growth, whereas the Rest of the World is projected to gain impetus in the forthcoming years on account of the rising concerns of people about environmental issues, states the study.
Alfa Laval AB, AE&E Nanjing Boiler Co. Ltd., Alstom SA, Babcock & Wilcox Enterprises Inc., DongFang Boiler Group Co. Ltd., Bharat Heavy Electricals Ltd., Doosan Heavy Industries and Construction Co. Ltd., Amec Foster Wheeler plc, Formosa Heavy Industries Corp., Harbin Boiler Engineering Co. Ltd., Mitsubishi Heavy Industries Ltd., Metso Oyj, Thermax Ltd., and Shanghai Boiler Works Co. Ltd. are some of the key participants in this market, states the report.
The global CFB boilers market is segmented into:
Oil and Gas
China, Japan and Australia
South East Asia
Rest of the World
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