Global Waste Heat Boiler market accrued earnings worth approximately 6.1 (USD Billion) in 2019 and is set to record a CAGR of more than 7% over the period from 2020 to 2026.
New York, United States - October 29, 2020 /MarketersMedia/ —
As per Zion Market Research, the global waste heat boiler market was valued at USD 6.1 billion in 2019 and is expected to develop with a CAGR of more than 7% by the end of 2026. The increasing requirement for improving energy efficiency in industrial operations, majorly in emerging regions such as the Middle East and Asia Pacific, is the major factor powering the market in the years to come. Some of the major players in the global market are General Electric, Thermax, Siemens, Amec Foster Wheeler, CMI Group, and Nooter/Eriksen.
The High Temperature Segment In The Waste Heat Boiler Market Is Predicted Be The Biggest Section In The Years To Come
The global market for waste heat boiler, based on waste heat temperature, has been divided into high temperature, medium temperature, and ultra-high temperature. The high temperature segment in the waste heat boiler market is predicted be the biggest section in the years to come. Most of the process sectors, comprising cement, iron & steel, chemical, aluminum, and refineries, create flue gases at a high range temperature, which is powering the waste heat boilers market. High spending in non-metallic mineral sectors and major metal sectors in developing nations will generate new income pockets for the global market.
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The Industries Section Is Predicted To Develop At The Max CAGR In The Years To Come
The waste heat boiler market, based on end-user, is divided into industries and power generation utilities. The industries section is predicted to develop at the max CAGR in the years to come. Energy efficiency regulations and standards on lowering emissions of CO2 in heavy sectors are predicted to power the requirement in most of the end-use sectors for waste heat boilers, particularly in emerging nations such as Saudi Arabia, India, Vietnam, Thailand, and Malaysia.
Asia Pacific Is Predicted To Rule The Global Market In The Coming Years
The waste heat boiler market is divided based on region such as Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Asia Pacific is predicted to rule the market in the coming years owing to increasing environmental concern, elevating electricity costs, and increasing energy requirement in this area.
The global waste heat boiler market is segmented as follows:
By Waste Heat 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
Power Generation Utilities
Oil & Gas
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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