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Increasing demand for energy: With the growing population and expanding economies, the demand for energy is increasing rapidly. CFB boilers are highly efficient and can burn a wide range of fuels, making them a popular choice for power generation.
Stringent environmental regulations: Governments around the world are implementing strict regulations to reduce greenhouse gas emissions and curb pollution. CFB boilers are known for their low emissions of sulfur dioxide, nitrogen oxides, and particulate matter, making them an attractive option for power plants.
Growing use of renewable energy: Renewable energy sources, such as wind and solar, are becoming increasingly popular. However, these sources of energy are intermittent and require backup power sources. CFB boilers are capable of burning biomass and other renewable fuels, making them a valuable addition to the energy mix.
Advancements in technology: The CFB technology has seen significant advancements in recent years, leading to improved efficiency and lower operating costs. These advancements are driving the adoption of CFB boilers in various industries.
Expansion of the industrial sector: CFB boilers are widely used in industries such as paper and pulp, chemical, and food processing, among others. As these industries continue to grow, the demand for CFB boilers is also expected to increase.
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Circulating Fluid Bed Boilers Market is expected to grow with the USD 43.4 Million, CAGR of approximately 3% during the forecast period.
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.
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.
