The waste heat boiler market in Europe is expected to grow from US$ 1. 36 Bn in 2018 to US$ 2. 26 Bn by the year 2027. This represents a CAGR of 5. 9% from the year 2019 to 2027. Factors including stringent government regulations and growing energy concerns are driving the growth of the waste heat boiler market.
New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Waste Heat Boiler Market to 2027 - Regional Analysis and Forecasts by Waste Heat Temperature; Waste Heat Source; Orientation; End-user" - https://www.reportlinker.com/p05828382/?utm_source=GNW
However, challenges associated with waste heat recovery systems with the existing process might slow down the growth of the waste heat boiler market. Industrial waste heat is the energy generated in the core industrial processes of industries such as power generation utilities, oil & gas, chemicals, primary metals, non-metallic minerals, and others and these waste heat are conducted through various waste heat recovery technologies to provide valuable energy sources and reduce the overall energy consumption. As the industrial sector continues its effort to enhance its energy efficiency, it would recover waste heat losses, reduces environmental impact, and enhances workflow and productivity.
Recovering waste heat from various industrial processes would lessen fuel requirements and support the industry to enhance energy management. Both the government and industries are highly focused on investing in waste heat boilers which is positively impacting the waste heat boiler market.
The waste heat boiler market is fragmented with the presence of several industries, and the competitive dynamics in the market are expected to change during the upcoming years.Various government initiatives are one of the key drivers for waste heat boiler market growth.
For instance, the government of Europe has started an initiative through the Industrial Heat Recovery Support Programme in order to increase industry assurance to invest in technologies to recover heat from industrial procedures, and increase the deployment of waste heat boilers across the UK The increasing government initiatives which help to enhance energy efficiency in various sectors are anticipated to drive the waste heat boiler market during the forecast period.
On the basis of waste heat temperature, high temperatures held a significant market share of Europe waste heat boiler market.However, the medium temperature is anticipated to grow at a significant CAGR.
On-Premise waste heat boiler is a type of deployment that is done within the company.On-premise waste heat boiler includes the services that are implemented inside the organizations for shifting the business processes to digital.
The waste heat source for medium-range includes boilers, steam condensate, ethylene furnaces, low-temperature ovens, and hot process solids or liquids.The characteristics of heat released at medium temperature are low power-generation efficiencies; recovery of combustion streams is limited owing to acid concentration in certain low temperatures.
The medium temperature occupies very low share as compared to high and ultra-high. The low share is attributed to low waste heat power-generation efficiency at medium temperature.
The overall Europe waste heat boiler market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe waste heat boiler market.
It also provides an overview and forecast for the waste heat boiler market based on all the segmentation provided with respect to the Europe region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the waste heat boiler industry. Some of the players present in waste heat boiler market are Alfa Laval, CiTECH Energy Recovery Solutions (UK) LTD, General Electric, Kawasaki Heavy Industries, Ltd, Nooter/Eriksen, Bosch Group, Thermax, ThyssenKrupp AG, Viessmann Group, and Zhengzhou Boiler Co., Ltd among others.
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