The global waste heat recovery boiler market exhibited moderate growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of 6.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A waste heat recovery boiler refers to a heat recovery equipment that is utilized for minimizing the wastage of heat generated by industrial plants. It is primarily used by the factories producing steel, cement, non-ferrous metals and chemicals, such as ethylene, ammonia, sulfuric acid and nitric acid. The boiler is used, along with gas turbines and combined heat/power units, to reprocess the wasted heat energy and convert it into steam or hot water for further utilization. This heat can be used for re-heating applications, generating electricity by driving turbines, compressing vapors and pumping liquids. This aids in enhancing the efficiencies of the plant and lowering the process costs and consumption of utilities.
Significant growth in the power, oil and gas and chemical industries, along with the increasing requirement for energy-efficient industrial processes, is one of the key factors driving the growth of the market. Apart from reusing waste heat, a WHB can also be used for removing heat from a process fluid that needs to be cooled down for transportation or storage. Furthermore, the rising environmental consciousness among the masses is also creating a positive impact on the market growth. Resulting from the growing energy demand, there is an increasing preference for utilizing renewable resources to develop environment-friendly energy with minimal greenhouse gas (GHG) emissions. Other factors, including growing investments in combined cycle power plants across the globe, especially in emerging nations, along with the implementation of various government initiatives to promote sustainable infrastructural development, are projected to drive the market further.
Breakup by Type: Water Tube Boiler Fire Tube Boiler
Breakup by Waste Heat Temperature: Medium Temperature High Temperature Ultra-High Temperature
Breakup by Waste Heat Source: Oil Engine Exhaust Gas Engine Exhaust Gas Turbine Exhaust Incinerator Exit Gases Others
Breakup by Orientation: Horizontal Vertical
Breakup by End-Use Industry: Power Generation Utilities Oil & Gas Chemical Primary Metals Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined with some of the key players being Alfa Laval, Amec Foster Wheeler, Robert Bosch, Forbes Marshall, General Electric, Nooter/Eriksen, Siemens, Thermax, Thyssenkrupp, Viessmann, Zhengzhou Boiler, etc. Key Questions Answered in This Report:
How has the global waste heat recovery boiler market performed so far and how will it perform in the coming years? What are the key regional markets? What has been the impact of COVID-19 on the global waste heat recovery boiler market? What is the breakup of the market based on the type? What is the breakup of the market based on the waste heat temperature? What is the breakup of the market based on the waste heat source? What is the breakup of the market based on the orientation? What is the breakup of the market based on the end-use industry? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global waste heat recovery boiler market and who are the key players? What is the degree of competition in the industry?
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