Fuel Flexible Boiler Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Circulating Fluidized Bed Combustion (CFBC) boiler, Atmospheric Fluidized Bed Combustion (AFBC), and Others), End-user (Chemical Industry, Metal and Mining Industry, Food and Beverages Industry, Thermal Power Generation Industry and Others) and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Market Snapshot

Fuel Flexible Boiler Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >3 %
Fuel Flexible Boiler Market Major Players

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Market Overview

The global power generation is likely to grow at a CAGR of 3% in the forecast period of 2020-2025, which has a direct influence on fuel flexible boiler market. Factors such as increasing energy efficiency and less emission of greenhouse gases like carbon dioxide, sulfur dioxide is likely to drive fuel flexible boiler market in the forecast period. However, the advancements in the renewable energy sector are expected to act as a restrain for fuel flexible boiler market in the coming years.

  • The power generation sector is expected dominate the fuel flexible boiler market during the forecast period.
  • Instead of using different type of boilers for different quality of fuel countries such as China, India, and Japan are planning to replace boilers with fuel flexible boilers by 2030. This is likely to create a opportunity for fuel flexible boiler market.
  • Asia-Pacific has dominated the fuel flexible boiler market and is expected to continue its dominance in the forecast period due to its increasing industrial development and urbanization, especially in the emerging economies.

Scope of the report

The fuel flexible boiler market report include:

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Key Market Trends

Thermal Power Generation to Dominate the Market

  • According to the International Energy Agency (IEA), the thermal power generation in which fuel flexible boilers are widely used is likely to grow at a CAGR of 3% in the upcoming years. Due to which fuel flexible boiler market is expected to have a positive impact in the forecast period.
  • In 2018, the electricity generation from thermal power plant was 19787 Tera-watt (TWh), which is more than that was generated in 2017, 19224 Tera-watt (TWh).
  • Shandong Shenglu Coal-Fired Power Project in China has the capacity to produce 4000 mega-watts (MW) of energy. Its first phase was started in 2016, and the second phase to be started in 2020.
  • The movement in Europe carbon emission targets, which aims to cut down greenhouse gases by at least 40% by 2030, compared to 1990, has increased the usage of fuel flexible boilers in the past both in the thermal power generation sector.
  • Patratu Super Thermal Power Project, Jharkhand in India, started in 2018 and is expected to be completed in 2022. The project has the capacity to produce 4000 mega-watts (MW) of power and is likely to use a fuel flexible boiler.
  • Hence the above thermal power generation projects are likely to drive the fuel flexible boiler market in the forecast period as the usage of fuel flexible boiler increases efficiency and decreases the greenhouse gas emissions.
Fuel Flexible Boiler Market Trends

Asia-Pacific to Dominate the Market

  • Asia-Pacific has dominated the fuel flexible boiler market in the past and is expected to dominate the market in the forecast period because of the several thermal power generation projects under construction.
  • Bharat Heavy Electrical Limited in 2015 began to construct Kothagudem Thermal Power Plant for Telangana state, India. The project included the use of fuel flexible boilers and was completed in 2019.
  • Leizhou Thermal Power Project in China has a power generation capacity of 6000 mega-watts (MW). It started in 2015 and is expected to be completed by 2022. This is likely to drive the fuel flexible boiler market in the forecast period.
  • Shin Kori Nuclear Power Plant Project Units 4, 5, and 6 in South Korea, is the expansion of Kori Nuclear Power plant by adding three new reactors in it, totally having a power generation capacity of 4200 mega-watts (MW). Reactor 1 was already decommissioned in 2017 while reactors 2 and 3 are to be decommissioned in mid of the 2020s. Construction of reactor 4 started in 2015 and commissioned in 2019. The development of reactors 5 and 6 are under progress and is expected to complete by 2022.
  • Hence, from the above points, it can be concluded that Asia-Pacific is going to dominate the fuel flexible boiler market in the forecast period due to several numbers of projects in the future.
Fuel Flexible Boiler Market Growth

Competitive Landscape

The fuel flexible boiler market is moderately fragmented. Some of the key players in this market include AE&E Nanjing boiler Co., Ltd, Bharat Heavy Electricals Limited, Doosan Heavy Industries Constrctn Co Ltd, Mitsubishi Hitachi Power Systems, Ltd, and Harbin Electric Co Ltd.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Force Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGEMENTATION

    1. 5.1 Type

      1. 5.1.1 Circulating Fluidised Bed Combustion (CFBC) Boiler

      2. 5.1.2 Atmospheric Fluidised Bed Combustion (AFBC) Boiler

      3. 5.1.3 Others

    2. 5.2 End-User

      1. 5.2.1 Chemical Industry

      2. 5.2.2 Metal and Mining Industry

      3. 5.2.3 Food and Beverages Industry

      4. 5.2.4 Thermal Power Generation Industry

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures

    2. 6.2 Strategies Adopted by Key Players

    3. 6.3 Key Companies Profile

      1. 6.3.1 AE&E Nanjing boiler Co.,Ltd

      2. 6.3.2 Bharat Heavy Electricals Limited

      3. 6.3.3 Siemens AG

      4. 6.3.4 Doosan Heavy Industries Constrctn Co Ltd

      5. 6.3.5 Mitsubishi Hitachi Power Systems, Ltd.

      6. 6.3.6 Harbin Electric Co Ltd

      7. 6.3.7 Shanghai Boiler Works Co., Ltd.

      8. 6.3.8 Thyssenkrupp Industries India Pvt. Ltd

  7. 7. MARKET OPPORTUNITIES and FUTURE TRENDS

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Frequently Asked Questions

The Fuel Flexible Boiler Market market is studied from 2016 - 2026.

The Fuel Flexible Boiler Market is growing at a CAGR of >3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

AE&E Nanjing boiler Co., Ltd, Bharat Heavy Electricals Limited (BHEL), Doosan Heavy Industries Constrctn Co Ltd, Mitsubishi Hitachi Power Systems, Ltd. are the major companies operating in Fuel Flexible Boiler Market.

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