December 03, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Waste Heat Boiler Market to 2027 - Global Analysis and Forecasts by Waste Heat Temperature (Medium Temperature, High Temperature, and Ultra-High Temperature), Waste Heat Source (Oil Engine Exhaust, Gas Engine Exhaust, Gas Turbine Exhaust, Incinerator Exit Gases, Kiln & Furnace Gases, and Others), Orientation (Horizontal and Vertical), End-user (Power Generation Utilities, Oil & Gas, Chemical, Primary Metals, Non-Metallic Minerals, and Others)’, the worldwide waste heat boiler market is anticipated to accumulate US $10.03 billion by the year 2027.
Waste heat boiler extracts the heat energy from waste streams to produce power. This energy is utilized by different industries such as refineries and steel mills. Growing demand for energy efficient solutions is boosting the growth of waste heat boiler market. Increasing energy & electricity prices, growth in industrialization, booming energy demand, and rising construction and mining sectors are the major drivers of waste heat boiler market.
According to the report, waste heat boiler market was worth US $5.78 billion in 2018 and is expected to grow with a CAGR of 6.4% through the year 2027.
Based on end-user spectrum, the market is segmented as oil & gas, chemical, power generation utilities, non-metallic minerals, primary metals and others. The report cites that oil & gas sector dominated the waste heat boiler market in 2018, owing to factors like strict regulations regarding reduction of C02 emissions and growing preference for energy efficient solutions.
As per orientation, waste heat boiler market is segmented as vertical and horizontal. The vertical waste heat boiler market is predicted to register significant growth over the forecast period, on account of low maintenance cost, smaller footprint, high water level tolerance, and lesser downtime.
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Considering the regional landscape, Asia Pacific is anticipated to be the leading region in the global waste heat boiler market over analysis timeframe, owing to increased adoption of efficient solutions across industries and rapid industrialization. Furthermore, China, Japan, and India will lead the Asia Pacific market and is presumed to become potential market for waste heat boiler vendors.
The prominent manufacturers operating in waste heat boiler market include Zhengzhou Boiler Co. Ltd., Alfa Laval, Viessmann Group, CiTECH Energy Recovery Solutions Ltd., ThyssenKrupp, General Electric, Thermax, Kawasaki Heavy Industries Ltd., Robert Bosch GMBH, and Nooter/Eriksen.
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