Quantitative analysis of the autothermicity and multiplicity of the steady states in a fluidized-bed reactor with recycle for a complex exothermic process has been performed. As an example, low-pressure synthesis of methanol was selected. The influence of the recycle ratio on the shape of the bifurcation diagrams as well as on the location of the catastrophe sets was shown. The recycle of hot gases leaving the reactor enables application of lower pressures and lower feed temperatures as well as allows one to increase the reactor yield.