20 Jan 2016 11:01:49
Stringent Emission Standards Create Massive Scope for Growth of Global CFB Boilers Market
Currently touted as one of the cleaner efficient energy solutions, a circulating fluidized bed boiler can help obtain a low rate of emissions and release of pollutants into the environment. Research has shown that nearly 95% of pollutants are absorbed using this technology rather than being dispersed into the surroundings. Those affiliated with the global CFB boiler market agree that the advantages that CFB technology possesses should help market players overcome the restraints on the market. While this may be true, the current situation requires a large-scale research and development in order to progress.
Browse Full Global Circulating Fluidized Bed Boilers Market Research Report With Complete TOC @ http://www.transparencymarketresearch.com/cfb-market.html
The global circulating fluidized bed boilers market is exhibiting a CAGR of 11.25% in a forecast period from 2015 to 2023. At the end of this growth phase, the global CFB boiler market is expected to reach 241.9 GWe in 2023. It was recorded at 92.0 GWe in 2014. Assisting and benefiting from this growth phase are the key players in the global CFB boiler market.
Tougher CO2 Regulations Prompt Growth of Global CFB Boiler Market
The key driver of the global CFB boiler market is the set of issues currently faced by the nonrenewable energy industry. Most deposits of coal, oil and gas, and other exhaustible energy resources are rapidly depleting. Additionally, power generation using nonrenewable resources is posing an increasing threat on the environment. It is in an effort to combat the high carbon emission and other adverse effects of nonrenewable energy generation that government bodies are imposing stringent rules and regulations on all emissions, including those in power generation. The global CFB boiler market therefore steps in, being one of the most efficient methods of meeting the rising energy demand through eco-friendly means.
Other advantages of circulating fluid bed boilers include gaining the flexibility of choosing from a wide range of clean, cheap, renewable, and low-grade fuels that can come in different sizes as well as qualities. A CFB boiler helps cut down on the emissions of CO2, SOx, and NOx and generates lower heat radiation levels.
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Subcritical Boilers Dominate Global CFB Boiler Market
In terms of type, the global CFB boiler market is segmented into supercritical, subcritical, and ultra-supercritical. Of these, the global CFB boiler market was led by subcritical SFB boilers in 2014 with a market share of nearly 60%. As for applications, the global CFB boiler market was most used in the oil and gas sector, which held 36% of the market in 2014. The oil and gas segment was closely followed by the chemicals segment, which accounted for 34% of the market. The oil and gas sector forms the leading application segment of the global CFB boiler market owing to the greater rate of generation of waste heat in the sector.
55% of the global CFB boilers market in 2014 was taken up by Asia Pacific, owing to large-scale use of CFB boilers in the rapidly advancing economies of China, India, Australia, and Japan. Although North America and Europe have shown a slow rate of adoption of CFB boilers, these regional markets are expected to pick up steam due to strengthening environment protection laws.
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