PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1954689
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1954689
The global circulating fluidized bed boilers market size was valued at USD 983.07 million in 2025 and is projected to grow from USD 1,018.50 million in 2026 to USD 1,366.59 million by 2034, exhibiting a CAGR of 3.74% during the forecast period (2026-2034). Asia Pacific dominated the global market with a 40.83% share in 2025, driven by rapid industrialization and rising energy demand across China and India.
Circulating Fluidized Bed (CFB) boilers are advanced combustion systems designed to burn a wide range of fuels efficiently, including low-grade coal, petcoke, biomass, and industrial waste. These boilers operate at lower combustion temperatures, which significantly reduce nitrogen oxide (NOx) emissions, while in-bed sulfur capture helps control sulfur dioxide (SO2) emissions. This makes CFB technology highly suitable for industries seeking cost-effective, environmentally compliant power and steam generation.
Market Trends
Growing Adoption in Oil & Gas Sector
The increasing use of CFB boilers in oil refineries and petrochemical plants is boosting market growth. Unlike conventional boilers, CFB systems efficiently handle difficult-to-burn by-products such as petroleum coke, sludge, and refinery waste. In July 2024, ANDRITZ supplied a fluidized bed boiler system for a mono-incineration plant, highlighting the rising adoption of CFB technology for industrial waste and by-product management. The technology's fuel flexibility and emission compliance capabilities are strengthening its presence in downstream oil & gas operations.
Market Dynamics
Market Drivers
Increased Adoption of Biomass and Waste-to-Energy (WTE)
One of the primary growth drivers is the expanding use of biomass and waste-to-energy systems to meet stringent environmental regulations. CFB boilers are highly capable of burning low-quality fuels with varying moisture content and calorific values while maintaining stable combustion. Governments worldwide are promoting landfill reduction and renewable energy through subsidies and regulations.
In March 2025, Fortum and Sumitomo Heavy Industries upgraded the CFB boiler at the Czestochowa CHP plant in Poland, converting the fuel mix from 70% coal and 30% biomass to 100% renewable biomass. Such projects demonstrate how CFB boilers support decarbonization strategies and carbon-neutral energy production.
Market Restraints
High Installation and Maintenance Costs
Despite operational advantages, CFB boilers require higher initial capital investment compared to conventional systems. Costs are associated with fluidization air systems, bed material handling, refractory linings, and emission control technologies. Maintenance intensity is also high due to erosion caused by circulating particles. These factors make CFB systems less attractive to small and medium-sized enterprises and cost-sensitive markets, thereby limiting broader adoption.
Market Opportunities
Government Support for Clean Energy Initiatives
Emerging economies such as India and China are expanding industrial infrastructure and energy production capacity. Government funding for bioenergy and waste-to-energy projects is creating strong growth opportunities. In February 2024, Valmet delivered a partial bioconversion project for PT. Cikarang Listrindo's CFB boiler in Indonesia, reducing fossil fuel dependence and CO2 emissions. Policy-driven investments in renewable and biomass energy are expected to sustain demand for CFB boilers through 2034.
Market Challenges
Operational complexity remains a key challenge. Maintaining steady bed fluidization, proper air distribution, and controlled fuel feeding is critical for efficiency. Any imbalance can cause operational instability, higher wear, and downtime. These technical requirements increase operational risks, particularly for facilities with limited technical expertise.
By Type
The market is segmented into subcritical CFB boilers, supercritical CFB boilers, and ultra-supercritical boilers.
By Feedstock
Based on feedstock, the market includes coal, petcoke, biomass, and others.
By End-User
The market is categorized into oil & gas, power, chemical, and others.
Asia Pacific
Asia Pacific led the market in 2025 with a value of USD 401.39 million and is projected to reach USD 417.45 million in 2026. Rapid industrial growth, availability of low-grade fuels, and strict emission standards drive regional demand.
North America
North America was valued at USD 187.77 million in 2025 and is projected to reach USD 194.36 million in 2026, driven mainly by retrofit and modernization projects.
Europe
Europe accounted for USD 273.48 million in 2025 and is expected to reach USD 283.11 million in 2026, supported by biomass and waste-to-energy installations.
Latin America and Middle East & Africa
Latin America generated USD 70.25 million in 2025, while the Middle East & Africa accounted for USD 50.19 million. Growth in these regions is linked to biomass, CHP, and selective industrial applications.
Competitive Landscape
Key players operating in the market include Sumitomo Corporation, Babcock & Wilcox, General Electric, Hyundai Heavy Industries, ANDRITZ, Mitsubishi Heavy Industries, Thermax, Valmet, Industrial Boilers America, and Alstom.
Companies are focusing on new power generation projects and fuel-flexible technologies. In July 2024, Thermax Babcock & Wilcox Energy Solutions secured an order to supply two 550 TPH CFBC boilers for a 300 MW power plant.
Conclusion
The circulating fluidized bed boilers market is expected to grow steadily from USD 983.07 million in 2025 to USD 1,366.59 million by 2034, driven by biomass adoption, waste-to-energy expansion, and strict emission regulations. Asia Pacific remains the dominant region, while retrofit projects and renewable energy initiatives sustain growth across North America and Europe. Despite high capital costs and operational complexities, CFB technology continues to gain importance as industries prioritize fuel flexibility, cost efficiency, and environmental compliance.
Segmentation By Type, Feedstock, End-User, and Region
By Type * Subcritical CFB Boiler
By Feedstock * Coal
By End-User * Oil and Gas
By Geography * North America (By Type, By Feedstock, By Application, and Country)
Table: 25 Global Circulating Fluidized Bed Boilers Market Share (%), 2025