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Waste Heat Boiler Market Insights | Key Players: General Electric, Siemens, Thermax, CMI Group, Amec Foster Wheeler, and Nooter/Eriksen

02-15-2019 06:59 AM CET | Energy & Environment

Press release from: MarketsandMarkets™

Waste Heat Boiler Market Insights | Key Players: General

According to recent research "Waste Heat Boiler Market by Temperature (Medium, High, Ultra High), Source (Oil Engine, Gas Engine, Gas Turbine, Incinerator, Cement Plant Kiln, Steel Plant, Glass Furnace), Orientation (Horizontal & Vertical), End-User, and Region - Global Forecast to 2023", The global waste heat boiler market is expected to grow at a CAGR of 6.72%, from 2018 to 2023, to reach a market size of USD 8.04 billion by 2023. The increasing demand for energy and rising electricity prices are forcing companies to opt for decentralized power supply which is increasing the demand for waste heat boiler. Also, efforts to reduce GHG emissions is expected to drive the waste heat boiler market during the forecast period.

Browse 77 market data Tables and 28 Figures spread through 153 Pages and in-depth TOC on "Waste Heat Boiler Market"
https://www.marketsandmarkets.com/Market-Reports/waste-heat-boiler-market-143622127.html

The waste heat boiler market is dominated by major players that are established brand names with wide regional presence, along with many local and regional players in the emerging economies. The leading players in the waste heat boiler industry include General Electric (US), Siemens (Germany), Thermax (India), CMI Group (Belgium), Amec Foster Wheeler (UK), and Nooter/Eriksen (US).

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The industrial segment is a key segment of the waste heat boiler market, by end-user, from 2018 to 2023. The market for this segment is driven by increasing investments in oil & gas industry in the developing countries of Asia Pacific and Middle East & Africa. Therefore, need to reduce carbon emissions is leading to the increased demand for cleaner sources of power generation, which, in turn, is causing the rise in demand for waste heat boiler that would significantly boost the efficiency of natural gas fired power plant.

Kiln and furnace gases segment is expected to grow at the fastest rate from 2018 to 2023. Rising investments in power generation sector and primary metal industries are expected to drive the Kiln and furnace gases segment of the waste heat boiler market.

High Temperature segment of the waste heat boiler market, by temperature, is estimated to grow at the fastest rate from 2018 to 2023. Factors such as high investment in primary metal industries and non-metallic mineral industries are driving the waste heat boiler market. 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.

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The waste heat boiler market has been segmented by region into Asia Pacific, Europe, North America, Middle East & Africa, and South America. Asia Pacific is projected to grow at the fastest rate, from 2018 to 2023, followed by North America and Europe. Countries such as China and India are the largest markets in Asia Pacific and have increased their investments in the infrastructure and power sectors in the recent past. China accounted for the maximum share in the Asia Pacific market in 2017 and is projected to grow at the highest CAGR of 9.47%, from 2018 to 2023. Growing urbanization, increasing industrialization, growing construction sector, and increasing investments in oil & gas and chemical segments are the major factors impacting the growth of the waste heat boiler market in this region.

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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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