Power generation is one of the most important markets in the world today. This industry caters to a wide range of other industry segments. The most common fuel 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 a rising quantity of hazardous waste from these processes are some of the important factors affecting the energy generation market.
Circulating Fluid Bed (CFB) boilers offers several benefits for power generation such as are flexible, with a wide range of fuel qualities and sizes to be burned. Emissions of SOx and NOx are significantly reduced which help to meet the strict environmental norms as per international mandates. The emissions are lowered as combustion temperature of the circulating fluid bed (CFB) is lower than other boilers such as pulverized coal boiler (PCC).
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 projected to reach 241.9 GWe by 2023 at a CAGR of 11.25% from 2015 to 2023.
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The circulating fluidized bed (CFB) boilers have been segmented on the basis of type, applications, and region. The subcritical boilers held 60% market of the CFB market for the year 2014. Global estimates for 2014 show that the oil and gas segment accounts for nearly 36% and the chemicals segment accounts for 34% share of the CFB market. This difference is due to the fact of waste heat generation and utilization is more in oil and gas segment as compared to chemical industries.
Rising demand to lower the CO2 emissions is driving the application of clean technologies for power generations which includes circulating fluid bed (CFB) as major contributor. Increasing acceptance of CFB for power generation is also responsible for the growth of circulating fluid bed (CFB) market globally. Currently, growth potential of circulating fluid bed (CFB) is likely to be led by Asia Pacific, Europe, North America and the Rest of World.
The circulating fluid bed has been segmented into five regions: North America, Europe, China, Japan, Australia, India, South East Asia, and Rest of the World. In 2014 Asia Pacific held the largest share of 55% of the global circulating fluid bed (CFB) boiler market.
Growing energy demand in Asia Pacific is a major driver for the growth of circulating fluid bed market in the region. Europe held the second position in the circulating fluid bed market in 2014. In 2014, North America and Rest of the World showed slow growth, but it anticipated that environmental regulatory norms will drive growth of circulating fluid bed market in these regions. In Asia Pacific, China, India and Australia are anticipated to emerge as potential markets for circulating fluid bed.
The CFB boilers market has been segmented as follows:
Circulating Fluid Bed Boilers Market: By Type
- Subcritical
- Supercritical
- Ultra-supercritical
Circulating Fluid Bed Boilers Market: By Application
- Oil and Gas
- Chemicals
- Manufacturing
- Others
Circulating Fluid Bed Boilers Market: By Region
- North America
- Europe
- China, Japan and Australia
- India
- South East Asia
- Rest of World
Research Report:http://www.transparencymarketresearch.com/cfb-market.html
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Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
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