Waste Heat Boiler Market to Receive Overwhelming Hike in Revenues By 2030

Waste heat boilers are special types of boilers that generate hot water or saturated steam by utilizing hot waste air that flows from industrial processes or heat associated with flue gases from combustion processes. They play a vital role in the treatment of high-temperature flue gases in most metallurgical procedures. Waste heat water boilers are used to utilize waste heat as an input to boil water and convert it into high-pressure steam. The steam is then used in power generation. Waste heat boilers are mainly deployed in industries such as steel mills, refineries, paper, cement kilns, and glass furnaces.

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COVID-19 scenario analysis:

• The coronavirus (COVID-19) pandemic has negatively affected different businesses, for example, oil & gas, metalworking, and textile manufacturing.
• The COVID-19 pandemic has affected the global food industry as governments have closed down restaurants and bars to slow the spread of the virus. Closures of restaurants have impacted industries such as food production, liquor, wine, & beer production, food & beverages shipping, fishing, and farming.
• COVID-19 could become a key catalyst for digital and technological advancements in the shipping industry. Delays in re-establishing supply chain networks and logistics capabilities could lead to delays in projects and infrastructure.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The main drivers of the global waste heat boiler market include a rise in awareness of global warming and the high energy costs of fossil fuels. Initiatives by governments play a significant role in successful waste heat boilers implementation, which would further increase the demand for waste heat boilers. Furthermore, an increase in initiatives to reduce greenhouse gases present in the environment, owing to the use of high temperature in various industries, such as iron & steel, aluminum, cement, and chemicals, also drive the revenue growth of the global market. In addition, a rise in demand for energy, an increase in electricity prices, and growth in efforts to reduce global greenhouse gas (GHG) emissions in developing countries drive the waste heat boiler market.

However, the high cost of equipment, maintenance of boilers, and high installation costs of these boilers are expected to hamper the market growth.

The surge in usage of waste heat boilers in industrial applications:

Based on region, the global waste heat boilers market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific has the largest market share for the waste heat boiler market, owing to the rise in demand for electricity in cities and villages, the rapid growth of the urban population, and expanding mining & construction sectors. Further, the rise in prices of electricity & other energies and favorable government initiatives encourage industries to install waste heat boilers in plants.

Based on orientation, the waste heat boiler market is divided into horizontal and vertical boilers. The choice of orientation mainly depends on the installation site. Vertical boilers are generally used in small and narrow industries while horizontal boilers are installed in spacious sites. Industrial waste heat boilers are majorly used in industrial processes such as power generation utilities, oil & gas, chemicals, primary metals, paper & pulp, and non-metallic minerals. In addition, the use of a waste heat boiler reduces overall energy consumption.

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Market Key Segments:

By Type
• Oil Engine
• Gas Engine
• Gas Turbine
• Kiln and Furnace Gases
• Incinerator Exit Gases

By Temperature
• Medium Temperature
• High Temperature
• Ultra High Temperature

By Orientation
• Horizontal
• Vertical

By End Use Industry
• Textile Manufacturing Facilities
• Food Processing
• Power Generation Utilities
• Primary Metals
• Non-Metallic Minerals
• Marine Applications
• Oil and Gas Production
• Metal, Paper, and Cardboard Processing
• Chemical Plants
• Others

By Region
• North America (US, Canada)
• Europe (Germany, the UK, France, rest of Europe)
• Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
• Latin America (Brazil, Mexico, Rest of LATAM)
• the Middle East
• Africa

Key Market Players: General Electric, Siemens, Thermax Ltd., CMI Group, Amec Foster Wheeler, Nooter/Eriksen, Forbes Marshall, Viessmann, Zhengzhou Boiler, Robert Bosch GmbH, Alfa Laval

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Key benefits of the report:

• This study presents the analytical depiction of the waste heat boilers market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the waste heat boilers' market share.
• The current market is quantitatively analyzed to highlight the waste heat boilers market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.

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