Waste Heat Boiler Market Size, Regional Outlook, Growth Potential, Industry Analysis Report, Competitive Market Share & Forecast, 2024 – 2032

Waste Heat Boiler Market Size

Waste Heat Boiler Market is poised to witness significant growth from 2024-2032 attributed to the ongoing efforts to curb greenhouse gas emissions worldwide and the higher adoption of sustainable technologies. The need for better energy efficiency in industrial processes and tightening regulations on industries to limit carbon emissions will boost the deployment of waste heat boilers. The rapidly increasing world population is subsequently rising the requirement for energy. To meet this demand sustainably and efficiently, several countries are actively investing in cleaner technologies, leading to the rising demand for boilers in chemical, oil & gas, food & beverage sectors.
 

Waste heat boilers use the heat in flue gases from hot waste air flows from industrial processes or combustion processes to generate saturated steam or hot water. They reduce heat produced led by the industrial processes significantly, thereby minimizing the negative impacts on life caused from heat production. Due to economic and legislative considerations, these boilers are widely used in conjunction with combined heat and power units and gas turbines. The impact of increasing energy costs will continue to promote the application of waste heat boilers in industrial processes. 
 

Waste Heat Boiler Market Trends

The heightened focus on sustainable practices is driving the demand for waste heat boilers. Several industries worldwide are increasingly prioritizing waste heat recovery systems to reduce energy consumption, lower greenhouse gas emissions, and enhance overall sustainability.
 

Governments and regulatory bodies are also advocating sustainable initiatives for offering incentives and mandates for waste heat utilization. With sustainability becoming a core business objective, companies across various sectors are further investing in waste heat boilers to achieve environmental targets while improving operational efficiency and competitiveness.
 

Waste Heat Boiler Market Analysis

Based on type, the market share from the water tube boiler segment is anticipated to witness high demand from 2024-2032 propelled by rapid strides in water tube boiler technology. Advantages, such as superior efficiency, durability, and scalability are contributing to the increasing preference for water tube boilers for waste heat recovery applications in various industries. The ability to handle high pressures and temperatures coupled with advancements in design and manufacturing processes are further making water tube boilers an integral component of modern waste heat recovery systems.
 

In terms of end use, the waste heat boiler market value from the oil & gas segment is slated to depict notable growth through 2032. The rising need for higher efficiency and productivity in oil & gas operations is surging the implementation of sustainable technologies. Many oil & gas companies across the world are phasing out conventional boiler systems and adopting eco-friendly options, such as waste heat boilers. The adoption of these boilers will also expand substantially with the growing number of oil and gas investments worldwide.
 

Regionally, the North America waste heat boiler industry is anticipated to exhibit robust growth between 2024 and 2032 attributed to the growing environmental impacts owing to the rising greenhouse gas emissions and tightening regulatory norms. The continuously rising energy demand and increasing electricity prices are driving the adoption of sustainable technologies across the power generation sector. Additionally, the ongoing developments across the oil & gas sector will offer lucrative opportunities for boiler manufacturers in North America.
 

Waste Heat Boiler Market Share

Leading waste heat boiler companies are emphasizing R&D investments to come up with efficient and environmentally friendly waste heat recovery solutions for meeting the increasing industrial demand for energy-efficient processes and reducing greenhouse gas emissions.

Some of the major firms engaged in the waste heat boiler industry include-

• Bosch
• Siemens
• Forbes Marshall
• Thermax
• General Electric
• Alfa Laval
• Thyssenkrupp
• Babcock & Wilcox
• BHEL
• Nooter/Eriksen
• Amec Foster Wheeler
   

Waste Heat Boiler Industry News

• In January 2024, Hestiia, a French energy-tech firm, announced the launch of a radiator that heats homes using surplus energy produced by computers.

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