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Circulating Fluid Bed Boilers Market Growth
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Market Overview
Market Research Future (MRFR), in its latest “Circulating Fluid Bed Boilers Market” report, elaborated on different factors that can prompt the market expansion. The circulating fluid bed boilers market 2020 growth can be attributed to the growing awareness about the wide fuel flexibility advantage. The global circulating fluid bed boilers market growth can be influenced by several forces. The rapid developments in CFB boiler technology can cause the worldwide circulating fluid bed boilers market size to increase against 2.5 % CAGR by 2023. The circulating fluid bed boilers market share in North America is predicted to be the highest due to the rise in application of CFB boiler technology in the oil and gas sector.
The growing demand for energy management by different companies can underpin the circulating fluid bed boilers market growth. Circulating fluid bed boilers technology can burn wide range of coal and other fuels at lower emission of pollutants. This resolves possible combustion issues in sectors, such as oil and gas, manufacturing, and chemicals. The rise in adoption of circulating fluid bed boilers across the mentioned cash-rich industries can impel the growth of their market.
Segmental Study
The circulating fluid bed boilers global market study is based on type, feedstock, and application.
The type-based segments of the circulating fluid bed boilers market are subcritical, supercritical, and ultra-critical. The rise in the adoption of supercritical circulating fluid bed boilers types can add momentum to their market.
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The feedstock-based segments of the circulating fluid bed boilers market are petcoke, coal, and biomass. The highly utility of coal and the rise in need for petroleum refining can improve the circulating fluid bed boilers market impetus.
The application-based segments of the circulating fluid bed boilers market are oil and gas, manufacturing, and chemicals. The high adoption of circulating fluid bed boilers in the chemical sector can thrust their market growth.
Regional Outlook
North America circulating fluid bed (CFB) boilers market, followed by Europe is expected to experience high rate of expansion. The increase in awareness of CFB boiler technology and the upscaling need for controlling gas emission can drive the market growth in these regions. The need for boosting operational efficiency across different manufacturing unit can prompt the adoption of critical fluid bed boiler market. This can result in the growth of its market in these, regions.
Industry verticals in the Asia Pacific region are anticipated to experience rise in CFB boilers installations. This high share of the regional market in the global CFB boilers market is accounted on the increased installed capacity base of different sectors. The rise in industrial development in India and China can underpin the regional market growth. The upscaling demand for continuous reliable electricity supply creating the need for circulating fluid bed boilers, can prompt APAC circulating fluid bed boilers market rise. In addition, R&D activities related to circulating fluid bed boilers can cast positive impact on their market.
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Key Players
MRFR profiled major players in the circulating fluid bed boilers global market. They are; Alstom SA (France), Alfa Laval AB (Sweden), AE&E Nanjing Boiler Co., Ltd (China), Dongfang Boiler Group Co., Ltd. (China), Bharat Heavy Electricals Limited (India), Babcock & Wilcox Enterprises (U.S.), Shanghai Boiler Works Co., Ltd (China), Mitsubishi Heavy Industries, Ltd (Japan), Doosan Heavy Industries & Construction Company Limited (UAE), and Thermax. D Ltd (India) among others. The launch of new line products and subsequent intensification of competition among key players can favor the circulating fluid bed boilers market.
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