Waste Heat Boiler Market Size, Share, Trends, Growth and Forecast 2032

Global Waste Heat Boiler Market Insights

Zion Market Research has published a report on the global Waste Heat Boiler Market, estimating its value at USD 1071.9 Million in 2023, with projections indicating that it will reach USD 2089.75 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.7% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Waste Heat Boiler industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Waste Heat Boiler Market- Introduction

Waste heat boilers are the units that make utilization of heat waste from combustion process to produce hot water or steam. Precisely, these units help the waste heat energy in steam form to generate energy that is widely used in factories, glass furnaces, cement kilns, and steel mills. It is also used for powering steam turbine and reduce power expenditure. Waste heat boiler parts encompass containers, insulation, control panels, exhaust gas bypasses, safety device, control systems, and pumps.

Furthermore, large number of these boilers are manufactured based on the principle of flame tube boiler. Waste heat boilers are kept downstream of all other products of processing device, while their operating conditions can always be impacted as a result of the upstream equipment conditions in heat salvage for proficient utility of energy.

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Market Growth Dynamics

Escalating need of power efficient services will contribute notably towards the waste heat boiler industry size over the years ahead. These products propose new power efficient services and resolve the problems related to power & energy. Apart from this, waste heat boilers reduce heat produced due to industrial processes, thereby reducing the negative impact on life caused due to heat production. Furthermore, firms are making use of these products for fulfillment of strict government norms related to greenhouse emissions, thereby steering the market trends.

In addition to this, rapid urbanization and high demand for power in construction activities and mining sector will raise the electricity bill charges. Hence to match the growing power requirements, governments of various countries are deploying waste heat boiler units. This will spike the demand for the market over the years to come. Moreover, huge inclination towards using these products in food & beverage and chemical sector will embellish the business sphere over the ensuing years.

Global Waste Heat Boiler Market: Segmentation

The study provides a decisive view of the waste heat boiler market by segmenting the market based on by source, by temperature, by end-user, by orientation and by region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By waste heat temperature segment analysis includes medium temperature, high temperature, ultra-high temperature.

By waste heat source segment analysis includes oil engine exhaust, gas engine exhaust, gas turbine exhaust, incinerator exit gases, cement plant kiln gases, steel, plant furnaces, hot gases from process, glass furnace gases, flue gases from fired heaters.

By orientation segment analysis includes horizontal, vertical.

By end-user segment analysis includes power generation utilities, oil & gas, chemical, primary metals and non-metallic minerals.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Waste Heat Boiler Market: Report Scope

Asia Pacific To Capture Large Market Share Over Forecast Timeline

The regional market growth over the forecast timeline is credited to large-scale funding made in the power & energy industry and growing requirement for renovating the aging power infrastructure in the region. In adding to this, growing requirements to curb the carbon emissions will catalyze the business growth. Furthermore, need for reducing rising power costs will translate into humongous surge in the growth of the market over the forecast timeline.

Global Waste Heat Boiler Market: Competitive Players

Key players influencing the market growth are-

• Amec Foster Wheeler
• General Electric
• CMI Group
• Thermax
• Siemens
• Nooter/Eriksen

Global Waste Heat Boiler Market: Segmentation

The global waste heat boiler market is segmented as follows:

By Waste Heat Temperature

• Medium Temperature
• High Temperature
• Ultra-High Temperature

By Waste Heat Source

• Oil Engine Exhaust
• Gas Engine Exhaust
• Gas Turbine Exhaust
• Incinerator Exit Gases
• Cement Plant Kiln Gases
• Steel Plant Furnaces
• Hot Gases from process
• Glass Furnace Gases
• Flue Gases from Fired Heaters

By Orientation

• Horizontal
• Vertical

By End-User

• Power Generation Utilities
• Oil & Gas
• Chemical
• Primary Metals
• Non-Metallic Minerals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa