The global Waste Heat Boiler market accrued earnings worth approximately 6.1 (USD Billion) in 2019 and is set to record a CAGR of more than 7% over the period from 2020 to 2026. The report offers assessment and analysis of the Waste Heat Boiler market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Details of the Report:
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Report Metric |
Details |
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Base Year |
2019 |
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Historical Data |
2017 and 2018 |
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Forecast period |
2020-2026 |
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Market Representation |
Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026 |
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Segments Analyzed |
By Source, By Temperature, By End-User, By Orientation, and By Region |
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Regions Analyzed |
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa |
Introduction
Waste heat boilers are the units that make utilization of heat waste from combustion process to produce hot water or steam. Precisely, these units help the waste heat energy in steam form to generate energy that is widely used in factories, glass furnaces, cement kilns, and steel mills. It is also used for powering steam turbine and reduce power expenditure. Waste heat boiler parts encompass containers, insulation, control panels, exhaust gas bypasses, safety device, control systems, and pumps.
Furthermore, large number of these boilers are manufactured based on the principle of flame tube boiler. Waste heat boilers are kept downstream of all other products of processing device, while their operating conditions can always be impacted as a result of the upstream equipment conditions in heat salvage for proficient utility of energy.
Market Growth Dynamics
Escalating need of power efficient services will contribute notably towards the waste heat boiler industry size over the years ahead. These products propose new power efficient services and resolve the problems related to power & energy. Apart from this, waste heat boilers reduce heat produced due to industrial processes, thereby reducing the negative impact on life caused due to heat production. Furthermore, firms are making use of these products for fulfillment of strict government norms related to greenhouse emissions, thereby steering the market trends.
In addition to this, rapid urbanization and high demand for power in construction activities and mining sector will raise the electricity bill charges. Hence to match the growing power requirements, governments of various countries are deploying waste heat boiler units. This will spike the demand for the market over the years to come. Moreover, huge inclination towards using these products in food & beverage and chemical sector will embellish the business sphere over the ensuing years.
Asia Pacific To Capture Large Market Share Over Forecast Timeline
The regional market growth over the forecast timeline is credited to large-scale funding made in the power & energy industry and growing requirement for renovating the aging power infrastructure in the region. In adding to this, growing requirements to curb the carbon emissions will catalyze the business growth. Furthermore, need for reducing rising power costs will translate into humongous surge in the growth of the market over the forecast timeline.
Key players influencing the market growth are Amec Foster Wheeler, General Electric, CMI Group, Thermax, Siemens, and Nooter/Eriksen.
The global waste heat boiler market is segmented as follows:
By Waste Heat Temperature
- Medium Temperature
- High Temperature
- Ultra-High Temperature
By Waste Heat Source
- Oil Engine Exhaust
- Gas Engine Exhaust
- Gas Turbine Exhaust
- Incinerator Exit Gases
- Cement Plant Kiln Gases
- Steel Plant Furnaces
- Hot Gases from process
- Glass Furnace Gases
- Flue Gases from Fired Heaters
By Orientation
- Horizontal
- Vertical
By End-User
- Power Generation Utilities
- Oil & Gas
- Chemical
- Primary Metals
- Non-Metallic Minerals
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Escalating need for power in industries will contribute notably towards the waste heat boiler industry growth during forecast timespan.
The CAGR of the industry is expected to be over 7% during the forecast timeline.
Asia Pacific region will contribute lucratively towards the global market value over the estimated timeline.
The key market participants include General Electric, Thermax, Siemens, Amec Foster Wheeler, CMI Group, and Nooter/Eriksen.
