Waste Heat Boiler Market: Overview
Waste heat boilers utilize hot waste air flows from industrial processes or heat in flue gases from combustion processes to generate hot water or saturated steam. These boilers are extensively employed in conjunction with gas turbines and combined heat and power units due to economic and legislative regulations. However, waste heat boilers are increasingly used to exploit the waste heat generated by industrial processes to reduce energy costs.
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Majority of these boilers are designed according to the flame or smoke tube boiler principle. The hot flue gas is directed through pipe bundles in which, the heat present in the gas is transferred to the water present inside the body of the boiler. Flue gas collectors are attached to the inlet and outlet of the waste heat boilers, along with flue pipes and cleaning apertures. Components of a waste heat boiler include containers, safety equipment, control panels, control systems, insulation, exhaust gas bypasses, and pumps.
Waste Heat Boiler Market: Drivers & Restraints
The primary drivers of the global waste heat boiler market include global warming and high energy costs. Industrial activities and heat and emissions generated due to it are the major reason for increase in global temperatures. Rising temperature is expected to negatively affect life on Earth by causing severe weather conditions. Waste heat boilers help reduce the heat generated from industrial activities. Hence, companies are adopting these boilers to meet government norms regarding the reduction in emission of harmful substances and gases into the environment. Companies are increasingly adopting waste heat boilers to decrease cost of energy. The energy recovered from these boilers can be used for several purposes such as heating water. This can help companies reduce their energy costs. This, in turn, is projected to drive the waste heat boiler market during the forecast period. However, high installation costs of these boilers is expected to hinder the waste heat boiler market during the forecast period.
Waste Heat Boiler Market: Key Segments
The global waste heat boiler market can be segmented into type, temperature, source, end-user, and region. In terms of type, the waste heat boiler market can be segregated into basic and waste heat utilization. This segmentation depends on the application of the boilers. The basic type of boiler is used for generating hot water or saturated steam and the waste heat utilization type of boiler is the conventionally fired unit that makes additional use of waste heat.
In terms of temperature, the waste heat boiler market can be categorized into medium, high, and ultra-high. The segment denotes the temperatures at which industrial processes release flue gases. These temperatures can range from nearly 300°C to about 600°C.
Based on source, the waste heat boiler market can be divided into oil engines, gas engines, gas turbines, kiln and furnace gases, and incinerator exit gases. The source of heat depends upon the industry where the boiler has been installed.
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In terms of end-user, the waste heat boiler market can be classified into textile manufacturing, food processing, chemicals, building material, power generation, minerals, marine, oil & gas, and wood processing industries. Based on region, the global waste heat boiler market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Waste Heat Boiler Market: Key Players
Key players operating in the global waste heat boiler market include General Electric Company, Siemens Inc., Thermax Limited, CMI Group, and Amec Foster Wheeler PLC.
