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Market Snapshot

CAGR:5.87

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	5.87

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Report Overview

Waste Heat Boiler Market Analysis By Application (Industrial, Power Generation, Others), By Type (Fire-Tube, Water-Tube, Others), and By Region Forecast to 2032:

The Waste Heat Boiler Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing focus on energy efficiency, advancements in industrial processes, and the growing need to harness waste heat across various sectors. Waste heat boilers are essential components in recovering and utilizing heat that would otherwise be wasted.

Waste Heat Boiler Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Waste Heat Boiler Market is the emphasis on sustainable energy practices. Industries are increasingly adopting waste heat recovery systems as part of their sustainability initiatives. Waste heat boilers play a pivotal role in capturing and converting heat from industrial processes into usable energy, reducing greenhouse gas emissions and energy costs.

Advancements in industrial processes, such as those in the chemical and petrochemical industries, are also driving market growth. These processes generate significant amounts of waste heat, which can be efficiently harnessed by waste heat boilers for steam generation or electricity production.

Trends:

An emerging trend shaping the Waste Heat Boiler Market is the development of compact and modular waste heat recovery systems. These systems offer flexibility and ease of integration into existing industrial setups, making waste heat recovery more accessible to a broader range of industries.

Additionally, the use of waste heat boilers in combined heat and power (CHP) systems is gaining prominence. CHP systems generate both electricity and useful heat from a single energy source, providing higher overall energy efficiency and cost savings.

Restraints:

One of the key challenges hindering the growth of the Waste Heat Boiler Market is the high initial investment required for waste heat recovery systems. While these systems offer long-term benefits, the capital costs can be a barrier for some industries, especially small and medium-sized enterprises.

Furthermore, the effectiveness of waste heat recovery systems can vary depending on the specific industrial process and operating conditions. Ensuring optimal performance and reliability across diverse applications can be a technical challenge.

Waste Heat Boiler Market Segmentation By Application:

The industrial sector, encompassing a wide range of industries such as chemical, oil and gas, and steel, is anticipated to witness substantial growth during the forecast period. Industrial processes generate significant waste heat, making waste heat boilers integral for improving energy efficiency and reducing operating costs.

The power generation industry is another significant application area. Waste heat from power plants, particularly from gas turbines and engines, can be effectively utilized by waste heat boilers to generate additional electricity or provide district heating.

Waste Heat Boiler Market Segmentation By Type:

Water-tube waste heat boilers are expected to drive market growth significantly. These boilers are well-suited for high-pressure and high-temperature applications, making them suitable for various industrial processes.

Fire-tube waste heat boilers are commonly used for lower-pressure applications and are known for their simplicity and ease of maintenance.

Regional Overview:

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Asia-Pacific is poised to be a key contributor to the global Waste Heat Boiler Market, accounting for approximately 45% of the market's growth during the forecast period. The region's rapid industrialization, particularly in countries like China and India, leads to increased waste heat generation, creating opportunities for waste heat recovery solutions.

North America is another prominent region in the market, with a focus on energy efficiency and sustainability. Industries in North America are investing in waste heat recovery technologies to reduce their carbon footprint and comply with environmental regulations.

Waste Heat Boiler Market Customer Landscape:

The Waste Heat Boiler Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on industry-specific energy efficiency initiatives and includes key purchase criteria related to system performance and return on investment.

Major Waste Heat Boiler Market Companies:

Companies in the waste heat boiler market are employing diverse strategies such as research and development, partnerships, mergers, acquisitions, and product innovation to strengthen their market presence.

Example companies include:

Siemens Energy: Siemens Energy offers a wide range of waste heat recovery solutions, including waste heat boilers, for various industrial applications. Their products focus on energy efficiency and sustainability, aligning with the global shift toward greener energy practices.
Amec Foster Wheeler: Amec Foster Wheeler specializes in engineering and constructing waste heat recovery systems, including waste heat boilers, for industries such as oil and gas, chemical, and petrochemical. Their expertise spans from conceptual design to commissioning.
Thermax: Thermax provides comprehensive waste heat recovery solutions, including waste heat boilers and heat pumps. They cater to industries worldwide and focus on optimizing energy utilization.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

Alfa Laval AB
General Electric Company
Kawasaki Heavy Industries, Ltd.
Bosch Industriekessel GmbH
Nooter/Eriksen, Inc.
HRS Heat Exchangers Ltd.
Cochran Ltd.
Viessmann Werke GmbH & Co. KG
Rentech Boiler Systems, Inc.
Harbin Electric Corporation

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on product offerings, market presence, and technological innovation.

Segment Overview:

The Waste Heat Boiler Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Industrial
Power Generation
Others

Type Outlook (USD Million, 2019 - 2032):

Fire-Tube
Water-Tube
Others

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Waste Heat Boiler MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Waste Heat Boiler MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Waste Heat Boiler Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Waste Heat Boiler MARKET BY temperature SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Medium

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 High

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Ultra High

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Waste Heat Boiler MARKET BY Orientation INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Horizontal

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Vertical

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Waste Heat Boiler MARKET REGIONAL OUTLOOK

7.1. Waste Heat Boiler Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Waste Heat Boiler Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Waste Heat Boiler Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Waste Heat Boiler Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Waste Heat Boiler Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Waste Heat Boiler Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 General Electric (US)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Siemens (Germany)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Thermax (India)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 CMI Group (Belgium)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Amec Foster Wheeler (UK)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Nooter/Eriksen (US)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Waste Heat Boiler Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032