[153 Pages Report] The global waste heat boiler market reached a size of USD 5.44 Billion in 2017. It is projected to reach USD 8.04 Billion by 2023, growing at a CAGR of 6.72% from 2018 to 2023. The growing demand for energy, increasing electricity prices, and increasing efforts to reduce global GHG emissions in the developing regions of Asia Pacific and the Middle East and Africa are driving the market for waste heat boiler.
This report segments the waste heat boiler market on the basis of temperature, heat source, orientation, end-user, and region. The years considered for the study are as follows:
Whenever information was unavailable for the base year, the prior year has been considered.
Objectives of the Study
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the waste heat boiler market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations, and organizations related to all the segments of this industry’s value chain. The points below explain the research methodology.
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study, based on the company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Some of the leading global manufacturers of waste heat boiler market are General Electric (US), Siemens (Germany), Thermax (India), CMI Group (Belgium), Amec Foster Wheeler (UK), and Nooter/Eriksen (US).
Target Audience:
The report’s target audience includes:
The scope of the report:
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:
Regional Analysis
Company Information
The waste heat boiler market is estimated to reach a market size of USD 5.80 Billion in 2018 and is projected to grow at a CAGR of 6.72% from 2018 to 2023. The growing need for enhancing energy efficiency in industrial processes, mainly in developing regions such as Asia Pacific and the Middle East, is the key factor driving the market during the forecast period.
The report segments the waste heat boiler market, by orientation, into horizontal and vertical. The vertical segment led the market in 2017. The vertical waste heat boilers are preferred due to their lower maintenance cost, lesser downtown, high water level tolerance, and smaller footprint.
The global waste heat boiler market, by waste heat temperature, has been segmented into medium temperature, high temperature, and ultra-high temperature. The high temperature waste heat boiler segment is expected be the largest market during the forecast period. Most of the process industries, including iron & steel, cement, aluminum, chemical, and refineries, produce flue gases at a high temperature range, which is driving the market for high temperature waste heat boilers. High investment in primary metal industries and non-metallic mineral industries in emerging economies will create new revenue pockets for the high temperature market
The report further segments the waste heat boiler market, by end-user, into power generation utilities and industries. The industries segment is expected to grow at the highest CAGR during the forecast period. Energy efficiency standards and regulations on reducing CO2 emissions in heavy industries are expected to drive the demand for waste heat boilers in most of the end-use industries, especially in developing countries such as India, Saudi Arabia, Thailand, Vietnam, and Malaysia.
In this report, the waste heat boiler market has been analyzed with respect to five regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period due to rising energy demand, increasing electricity prices, and growing environmental concern in this region. The figure given below shows the projected market sizes of various regions with respective CAGRs for 2023.
The major factor restraining the growth of the waste heat boiler market is the limited space availability and temperature constraint regarding material strength in the boiler.
Some of the leading players in the waste heat boiler market are General Electric (US), Siemens (Germany), Thermax (India), CMI Group (Belgium), Amec Foster Wheeler (UK), and Nooter/Eriksen (US). These players have adopted growth strategies such as contracts & agreements, mergers & acquisitions, and partnership & collaborations to capture a larger share of the market.
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