“The waste heat boiler market is projected to grow at a CAGR of 6.72% from 2018 to 2023.”
The waste heat boiler market is projected to grow from an estimated USD 5.80 billion in 2018 to USD 8.04 billionby 2023, at a CAGR of 6.72% from 2018 to 2023. Increasing investments in the construction sector, infrastructure development, and power generation in emerging economies and the growth of industries, such as utilities and manufacturing, are driving the market for waste heat boiler across the world.
Space availability constraint and temperature and pressure constraints regarding material strength in the boiler would be the restraints for this market.
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“The industries segment is expected to hold the largest share of the waste heat boiler market, by end-user, during the forecast period.”
The industries segment of the global waste heat boiler market is expected to hold the largest share of the waste heat boiler market during the forecast period.
This can be attributed to the increasing investments in oil & gas industry in the developing countries of Asia Pacific and Middle East & Africa. The use of waste heat boiler in industries sectors, such as Oil & Gas, Chemical, Primary Metal and Non-metallic minerals, is increasing as the energy prices are increasing globally.
“Asia Pacific: Key market for waste heat boiler.”
Asia Pacific is the largest market for waste heat boiler, followed by North America and Europe. Increasing investment in power sector, aging infrastructure, and increasing efforts to reduce global GHG emissions would boost the demand for waste heat boiler.
Furthermore, rising energy &electricity prices in emerging economies is driving the waste heat boiler market in Asia Pacific.
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Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, industry consultants, and other experts to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 38%, Tier 2- 48%, Tier 3- 14
By Designation: C-Level- 20%, D-Level- 35%, Others- 45%
By Region: North America- 30%, Europe- 24%, Asia Pacific- 25%, South America- 8%, Middle East & Africa- 13%.
Note: The tier of the companies has been defined based on their total revenue as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion
The leading players in the waste heat boiler market are General Electric (US), Siemens (Germany), Thermax (India), CMI Group (Belgium), Amec Foster Wheeler (UK), and Nooter/Eriksen (US).
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The report provides insights on the following pointers:
- Product Development/Innovation:Detailed insights on upcoming technologies, research and development activities, and new product launches in the waste heat boiler market
- Market Development:Comprehensive information about lucrative emerging markets; the report analyzes the markets for waste heat boiler across regions
- Market Diversification:Exhaustive information about new products, untapped regions, recent developments, and investments in the global waste heat boiler market
Why Get this Report?
- The report identifies and addresses key markets for the implementation of waste heat boiler products in various industries, which would help manufacturers review the growth in demand.
- The report would help solutions providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
- The report would help key players understand the strategies of their competitors better and will help in making strategic decisions.