Persistence Market Research
Global Waste Heat Boiler Market: Dynamics
The increasing demand for energy efficient solutions is leading to the rapid growth of the waste heat boilers market. These boilers reduce the issues associated with energy and propose new energy efficient solutions. The metal manufacturing process also involves a number of temperature processes, from which waste heat can be recovered and converted into thermal energy. Rising energy & electricity prices in developing economies are also driving the waste heat boiler market in different regions. Rise in industrialization and energy demand and the growing construction and mining sectors surge electricity prices. To cope with escalating demand, governments are taking initiatives to install waste heat boilers plants, which will further hike the demand for waste heat boilers.
A problem associated with waste heat boilers is their high installation cost. This might hinder the growth of the market during the forecast period
Global Waste Heat Boiler Market: Segmentation
The waste heat boiler market can be segmented on the basis of waste heat source, temperature and end use industry.
On the basis of waste heat source, the waste heat boiler market can be segmented as:
Oil engine Gas engine Gas turbine Kiln and furnace gases Incinerator exit gases
On the basis of temperature, the waste heat boiler market can be segmented as:
Medium temperature High temperature Ultra high temperature
On the basis of end use industry, the waste heat boiler market can be segmented as:
Global Waste Heat Boiler Market: Regional Outlook
The North America heat waste boiler market is witnessing significant growth due to the high adoption of energy generated from heat waste in end use industries. The U.S. in the North America region, is exhibiting sustainable growth in the heat waste boiler market, owing to the increasing consumption of energy. The U.S. is expected to be followed by Mexico and Canada. Asia Pacific has been witnessing significant growth in the heavy industry power generation market over the last few years, which is a driving force for the waste heat boiler market. In the Asia Pacific region, China, India and South Korea are dominant markets in the value chain of end use production processes; thus, there is high growth potential for heat waste boilers in these regions. As the government regulations related to emission in Europe have increased, the consumption of heat waste generated thermal energy is on the rise. Latin America and Middle East and Africa regions are expected to illustrate steady growth in heat waste boiler.
Global Waste Heat Boiler Market: Market Participants
Examples of some of the prominent market participants in the waste heat boiler market are: