Global Waste Heat Boiler Market Size by Type (Fire Tube Boilers, Water Tube Boilers), By Application (Steam Generation, Preheating), By Temperature (Medium Temperature Waste Heat Boiler, High Temperature Waste Heat Boiler), By Geographic Scope And Forecast
Report ID: 21990|No. of Pages: 202
Global Waste Heat Boiler Market Size by Type (Fire Tube Boilers, Water Tube Boilers), By Application (Steam Generation, Preheating), By Temperature (Medium Temperature Waste Heat Boiler, High Temperature Waste Heat Boiler), By Geographic Scope And Forecast
Waste Heat Boiler Market Size And Forecast
Waste Heat Boiler Market size was valued at USD 3.16 Billion in 2023 and is projected to reach USD 5.27 Billion by 2031 growing at a CAGR of 7.31% from 2024 to 2031.
- Waste heat boilers collect and reuse excess heat from industrial processes. These boilers increase energy efficiency by turning waste heat into steam or hot water to meet additional energy or process requirements.
- They are frequently utilized in industries such as power generating, steel manufacturing and petrochemicals. The captured heat is utilized to generate energy, heat buildings, or power other processes, lowering fuel usage and pollution.
- Future advances in waste heat boilers will focus on increasing efficiency and integration with renewable energy sources. Advanced materials, smarter control systems and improved heat recovery technologies are all examples of innovation.
>>> Get | Download Sample Report @ – https://www.verifiedmarketresearch.com/download-sample/?rid=21990
Global Waste Heat Boiler Market Dynamics
The key market dynamics that are shaping the global waste heat boiler market include:
Key Market Drivers:
- Increasing Focus on Energy Efficiency and Sustainability: Waste heat boilers are becoming more popular due to a focus on energy efficiency and sustainability in industrial processes. According to the International Energy Agency (IEA), industrial waste heat accounts for roughly 20-50% of overall energy consumption in industrial operations. Waste heat boilers can recover a large percentage of this energy, potentially lowering overall energy use by 10-20%.
- Stringent Environmental Regulations: Governments worldwide are developing stronger environmental rules to minimize greenhouse gas emissions, encouraging industry to adopt more efficient technologies like waste heat boilers. The European Union’s Energy Efficiency Directive 2012/27/EU requires member states to establish energy efficiency obligation systems, with the goal of achieving new savings of 1.5% of annual energy sales to end Customers.
- Growth in Industrial Sectors: The rise of industries including oil & gas, chemicals, and metal processing is driving up demand for waste heat boilers. According to the World Bank, global industrial value added increased by 3.8% in 2021, recovering from the COVID-19 pandemic. This increase in industrial activity is likely to raise the demand for energy-efficient alternatives such as waste heat boilers.
Key Challenges:
- High Cost of 8K Technology: The high cost of 8K TVs and other modern gadgets presents a substantial barrier for many consumers. Despite technological breakthroughs, price remains a barrier to mass adoption, making the transition from 4K to 8K slower than expected.
- Limited 8K Content Availability: The paucity of native 8K content limits the value proposition for customers. Without adequate streaming, broadcasting, or gaming possibilities in 8K resolution, investing in these advanced screens becomes less tempting, reducing demand for 8K devices and limiting future industry growth.
- Infrastructure Requirements: Streaming and broadcasting 8K material necessitates significant bandwidth and high-speed internet infrastructure. Many places lack adequate connectivity, limiting access to 8K experiences. This infrastructure gap remains a key barrier, limiting the adoption of 8K.
Key Trends:
- High Cost of 8K Technology: The high cost of 8K TVs and other modern gadgets presents a substantial barrier for many consumers. Despite technological breakthroughs, price remains a barrier to mass adoption, making the transition from 4K to 8K slower than expected.
- Limited 8K Content Availability: The paucity of native 8K content limits the value proposition for customers. Without adequate streaming, broadcasting, or gaming possibilities in 8K resolution, investing in these advanced screens becomes less tempting, reducing demand for 8K devices and limiting future industry growth.
- Infrastructure Requirements: Streaming and broadcasting 8K material necessitates significant bandwidth and high-speed internet infrastructure. Many places lack adequate connectivity, limiting access to 8K experiences. This infrastructure gap remains a key barrier, limiting the adoption of 8K.
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
What's inside a VMR
industry report?
>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=21990
Global Waste Heat Boiler Market Regional Analysis
Here is a more detailed regional analysis of the global waste heat boiler market:
Asia Pacific:
- According to Verified Market Research, Asia Pacific is expected to dominate the global waste heat boiler market.
- Asia Pacific is predicted to dominate the worldwide waste heat boiler market, owing to fast industrialization and increased energy efficiency programs in key markets such as China, India, and Japan. The region’s expanding industrial sector, particularly in manufacturing, chemicals, and power generation, is driving demand for waste heat recovery technologies.
- Government laws supporting renewable energy and lowering carbon emissions bolster market growth. The presence of significant manufacturers and large-scale expenditures in infrastructure projects help to expand waste heat boiler technology, establishing Asia Pacific as the leading area in this market.
Middle East and Africa:
- According to Verified Market Research, Middle East and Africa is fastest growing region in global waste heat boiler market.
- The Middle East and Africa are emerging as the most rapidly increasing regions in the worldwide waste heat boiler industry. This rise is being driven by the region’s rising industrial operations, particularly in industries such as oil and gas, petrochemicals, and power generation, all of which produce considerable amounts of waste heat. Governments and enterprises in the region are increasingly concentrating on energy efficiency and sustainable practices, which is driving the development of waste heat recovery technologies.
- Higher investment in infrastructure and energy projects, combined with favorable legislative frameworks encouraging energy conservation, are propelling market expansion in the Middle East and Africa, positioning it as a significant participant in the worldwide waste heat boiler market.
Global Waste Heat Boiler Market: Segmentation Analysis
The Global Waste Heat Boiler Market is segmented based Type, Application, Temperature and Geography.
Waste Heat Boiler Market, By Type
- Fire Tube Boilers
- Water Tube Boilers
Based on Type, the Global Waste Heat Boiler Market is separated into Fire Tube Boilers and Water Tube Boilers. Water tube boilers now dominate the global waste heat boiler market. They outperform fire tube boilers in terms of efficiency, heat transfer and capacity to handle high-pressure applications, making them ideal for large-scale industrial processes.
Waste Heat Boiler Market, By Application
- Steam Generation
- Preheating
Based on Application, Global Waste Heat Boiler Market is divided into Steam Generation and Preheating. In the global waste heat boiler market, steam generation is the most common use. It converts waste heat into steam for power generation and process heating, making it critical for sectors with high energy demands. Preheating is also important, though less so than steam generation.
Waste Heat Boiler Market, By Temperature
- Medium Temperature Waste Heat Boiler
- High Temperature Waste Heat Boiler
Based on Temperature, Global Waste Heat Boiler Market is divided into Medium Temperature Waste Heat Boiler and High Temperature Waste Heat Boiler. In the global waste heat boiler market, the medium temperature waste heat boiler segment is dominant. Medium temperature systems are widely employed in a variety of industries due to their low cost and high efficiency in recovering heat from processes that operate at moderate temperatures.
Waste Heat Boiler Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on the Geography, the Global Waste Heat Boiler Market divided into North America, Europe, Asia Pacific, and Rest of the World. The Asia-Pacific region dominates the worldwide waste heat boiler market as a result of fast development and rising energy demand. Meanwhile, the Middle East and Africa are experiencing the highest growth, thanks to rising industrial sectors and investments in energy efficiency and sustainable technologies.
Key Players
The Global Waste Heat Boiler Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Bosch, Siemens, Forbes Marshall, Thermax, General Electric, Alfa Laval, Thyssenkrupp, Babcock & Wilcox, BHEL, Nooter/Eriksen, Amec Foster Wheeler.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Waste Heat Boiler Market Recent Developments
- In January 2024, Hestiia, a French energy-tech company, announced the release of a radiator that uses computer surplus energy to heat homes.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2030 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | General Electric (US), Siemens (Germany), Thermax (India), CMI Group (Belgium), Amec Foster Wheeler (UK) (Now part of Wood Group), Nooter/Eriksen (US), Alfa Laval (Sweden), Zhengzhou Boiler (China), Bosch (Germany) |
| Segments Covered | By Type, By Application, By Temperature, By Geography |
| Customization Scope | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL WASTE HEAT BOILER MARKET
1.1 Introduction of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL WASTE HEAT BOILER MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
4.5 Regulatory Framework
5 GLOBAL WASTE HEAT BOILER MARKET, BY TYPE
5.1 Overview
5.2 Fire Tube Boilers
5.3 Water Tube Boilers
6 GLOBAL WASTE HEAT BOILER MARKET, BY APPLICATION
6.1 Overview
6.2 Steam Generation
6.3 Preheating
7 GLOBAL WASTE HEAT BOILER MARKET, BY TEMPERATURE
7.1 Overview
7.2 Medium Temperature Waste Heat Boiler
7.3 High Temperature Waste Heat Boiler
8 GLOBAL WASTE HEAT BOILER MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Middle East and Africa
8.5.2 South America
9 GLOBAL WASTE HEAT BOILER MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Share
9.3 Vendor Landscape
9.4 Key Development Strategies
10 COMPANY PROFILES
10.1 Bosch
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Siemens
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Forbes Marshall
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Thermax
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 General Electric
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Alfa Laval
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Thyssenkrupp
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Babcock & Wilcox
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 BHEL
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Nooter/Eriksen
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
