Waste Heat Boiler Market Size, Growth & Forecast to 2027

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)

  • Report Code : TIPRE00005362
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 203
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[Research Report] The global waste heat boiler market is estimated to account US$ 5.78 Bn in 2018 and is expected to grow at a CAGR of 6.4% during the forecast period 2019 – 2027, to account to US$ 10.03 Bn by 2027.

The increasing focus towards the development of efficient energy solutions and various government programs for the implementation of the waste heat boiler is driving the waste heat boiler market. With increasing energy prices, industries are highly focused on implementing a waste heat recovery system. It is one the key area of research to reduce fuel consumption, improve production efficiency, and lower harmful emissions. Industrial waste heat is generated by industrial processes that do not have any practical use and are dumped into the environment. The Middle East & Africa waste boiler market is expeted to witness an CAGR growth rate of 6.7% from 2019 to 2027.

Waste Heat Boiler Market – By Region

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Waste Heat Boiler Market Insights

Attractve government initatives

Industrial waste heat is the energy generated in the core industrial processes of industries such as power generation utilities, oil & gas, chemicals, primary metals, non-metallic minerals, and others and these waste heat are conducted through various waste heat recovery technologies to provide valuable energy sources and reduce the overall energy consumption. According to the U.S. Department of energy, around 20% to 50% of industrial energy is reduced as waste heat in the form of exhaust gases. As the industrial sector continues its effort to enhance its energy efficiency, it would recover waste heat losses, reduces environmental impact, and enhances workflow and productivity. Various government initiatives are one of the key drivers for waste heat boiler market growth. The initiatives by various governments play an important role in successful waste heat boilers implementation, which would further increase the demand for waste heat boiler market. Thus, driving the growth of the waste heat boiler market during the coming years.

Surge in adotion of energy efficient solutions

In the future, the energy-efficient solutions would most likely to witness high demand. Waste heat boiler, an energy-efficient equipment are used to recover waste heat energy and can reduce future operating costs, capital investment, and utility systems costs. The performance of waste heater boilers is a key element in the efforts of commercial facilities to hold down utility costs. For maintenance and engineering procedures in various industries, businesses trying to provide efficient boiler performance, the efficiency of the boiler is decided by the proportion of heat output to the amount of fuel utilized. According to the U.S Department of energy, traditional heating systems generally run between 56% to 70% efficiency, which is a substantial loss in energy savings. However, modern boilers and water heaters run around 80% efficiency, which provides significant energy savings when used in a number of industries. Thus, developing technologies offer promise in recovering waste heat more efficiently rather than traditional.

Waste Heat Boiler Market – Waste Heat Temperature Segment Insights

Depending on the process type, waste heat can be released at nearly any temperature in an industrial furnace or kiln. Typically most of the waste heat generated in the high temperature originates from direct combustion processes; heat generated in the medium range comes from the exhaust of combustion units; and heat generated in the low temperature range comes from products, parts, and the process unit equipment. The power generating efficiency from waste heat recovery is greatly reliant on the waste heat source temperature. Generally, economically viable waste heat power generation has been restricted chiefly to medium- to high-temperature or ultra-high waste heat sources.

Waste Heat Boiler Market – Waste Heat Source Segment Insights

Energy intensive processes in industries, including processes occurring at steel mills, refineries, glass furnaces, and cement kilns, releases hot exhaust gases as well as waste streams which are capable to be harnessed with heat recovery technologies, such as waste heat boiler, to generate electricity. The exhaust flue gases, after being released from the furnace, holds a considerable amount of thermal energy. In several fuel-fired heating systems, the waste heat is the ultimate source of heat loss in the process, often exceeding all the other losses combined. Depending upon the type of process and equipment, the source of waste heat is categorized into oil engine exhaust, gas engine exhaust, gas turbine exhaust, incinerator exit gases, kiln & furnace gases, and others.

Waste Heat Boiler Market – Orientation Segment Insights

The waste heat boiler market by orientation is segmented into horizontal and vertical boilers. The waste heat recovery capacity of each of these boilers depends on the boiler efficiency. Further, the choice of orientation is majorly dependent on the installation site. Vertical boilers are usually preferred at small and narrow application, however horizontal boilers are mostly deployed at spacious site. Both of these boilers are different in terms of application area, thus the choice completely depends on the customers’ requirements.

Waste Heat Boiler Market – End-user Segment Insights

A considerable energy amount used by different industries is wasted as heat leaving industrial facilities. These include air streams, exhaust gases, and liquids. Though it is not economically and technically viable to recuperate all waste heat, a certain amount of this heat can be recovered through various heat recovery procedures. According to a study, waste-heat recovery can substitute around 9% of the total energy used by industries in the US, which would eventually help enhance the US global competitiveness. It would further help to mitigate emissions of greenhouse gases. The potential for waste-heat recovery opportunities differs widely from industry to industry. The primary metal is expected to be major market driver for end-user in the waste heat boiler market.

Waste Heat Boiler Market for Rest of the APAC by End-user

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Waste Heat Reovery Boiler Market -

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Waste Heat Boiler Market: Strategic Insights

Waste Heat Boiler Market

  • CAGR (2018 - 2027)
    6.4%
  • Market Size 2018
    US$ 5.78 Billion
  • Market Size 2027
    US$ 10.03 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • General electric
  • Nooter/eriksen
  • Robert Bosch GMBH
  • Thermax
  • Thyssenkrupp
  • Viessmann Group
  • Zhengzhou Boiler Co. Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • CiTECH Energy Recovery Solutions (UK) LTD

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Waste Heat Temperature
  • Medium Temperature
  • High Temperature
  • Ultra-High Temperature
Waste Heat Source
  • Oil Engine Exhaust
  • Gas Engine Exhaust
  • Gas Turbine Exhaust
  • Incinerator Exit Gases
  • Kiln & Furnace Gases
  • Others
Orientation
  • Horizontal and Vertical
End-user
  • Power Generation Utilities
  • Oil & Gas
  • Chemical
  • Primary Metals
  • Non-Metallic Minerals
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Some of the market initiatives were observed to be most adopted strategy in the global waste heat boiler market. Few of the recent market initiatives adopted by the market players operating in the waste heat recovery boiler market are listed below:

2019:Thyssenkrupp Industries India announced that it entered into an agreement with Gainwell, which is a leading distributor of mining, construction, and power solutions. This pact would help the company to strengthen its position in the Indian Market.
2018:Robert Bosch announced the inauguration of its new R&D center in Suzhou, China. This new R&D center employs around 1,500 associates and focuses majorly on the manufacturing of mobility as well as connected solutions.
2018:Thermax won Rs. 340 Cr order from an Indian steel major. The order consists of a specially designed boiler, electric turbo generators and ancillary equipment for the production facility. The steam boiler would utilize waste gases produced in steel manufacturing to generate high-pressure steam for power generation.

GLOBAL WASTE HEAT BOILER MARKET SEGMENTATION

Global Waste Heat Boiler Market – By Waste Heat Temperature

  • Medium Temperature
  • High Temperature
  • Ultra-High Temperature

Global Waste Heat Boiler Market – By Waste Heat Source

  • Oil Engine Exhaust
  • Gas Engine Exhaust
  • Gas Turbine Exhaust
  • Incinerator Exit Gases
  • Kiln & Furnace Gases
  • Others

Global Waste Heat Boiler Market – By Orientation

  • Horizontal
  • Vertical

Global Waste Heat Boiler Market – By End-user

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

Global Waste Heat Boiler Market – By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of APAC
  • Middle EAST & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa
  • South America

    • Brazil
    • Rest of South America

Global Waste Heat Boiler Market - Company Profiles

  • Alfa Laval
  • CiTECH Energy Recovery Solutions (UK) LTD
  • General Electric
  • Kawasaki Heavy Industries, Ltd.
  • Nooter/Eriksen
  • The Bosch Group
  • Thermax Limited
  • Thyssenkrupp AG
  • Viessmann Group
  • Zhengzhou Boiler Co., Ltd

Waste Heat Boiler Market Report Scope

Report Attribute Details
Market size in 2018 US$ 5.78 Billion
Market Size by 2027 US$ 10.03 Billion
Global CAGR (2018 - 2027) 6.4%
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered 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
  • Kiln & Furnace Gases
  • Others
By Orientation
  • Horizontal and Vertical
By End-user
  • Power Generation Utilities
  • Oil & Gas
  • Chemical
  • Primary Metals
  • Non-Metallic Minerals
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • General electric
  • Nooter/eriksen
  • Robert Bosch GMBH
  • Thermax
  • Thyssenkrupp
  • Viessmann Group
  • Zhengzhou Boiler Co. Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • CiTECH Energy Recovery Solutions (UK) LTD
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Waste Heat Temperature , Waste Heat Source , Orientation , End-user

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    The List of Companies

     

    1. General electric
    2. Nooter/eriksen
    3. Robert Bosch GMBH
    4. Thermax
    5. Thyssenkrupp
    6. Viessmann Group
    7. Zhengzhou Boiler Co. Ltd.
    8. Kawasaki Heavy Industries, Ltd. 
    9. CiTECH Energy Recovery Solutions (UK) LTD
    10. Alfa Laval

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

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    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

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    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

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