Global Waste Heat Boiler Market Size Study & Forecast, by Temperature (Medium, High, Ultra High), by Source (Oil Engine, Gas Engine, Gas Turbine, Incinerator, Cement Plant Kiln, Steel Plant, Glass Furnace), by Orientation (Horizontal & Vertical) and Regio

Global Waste Heat Boiler Market is valued at approximately USD 8.58 billion in 2024 and is projected to expand at a robust CAGR of 6.72% during the forecast period 2025–2035. Waste heat boilers capture excess thermal energy from exhaust streams—be they gas turbines, engines, or industrial furnaces—and convert it into usable steam or hot water, thereby reducing overall fuel consumption and cutting carbon emissions. With sustainability mandates tightening worldwide, industrial operators are fast deploying waste heat recovery systems to both enhance process efficiency and comply with increasingly stringent environmental regulations.

The surge in demand is underpinned by rising fuel prices, tightening carbon footprints, and government incentives for energy-efficient technologies. Cement, steel, and glass manufacturers are retrofitting existing lines with high-efficiency waste heat boilers, while power plants and engine OEMs integrate modular heat recovery units into new builds. Technological enhancements—such as corrosion-resistant alloys for ultra-high-temperature applications and compact coil designs for mobile skid-mounted units—are unlocking opportunities in oil & gas downstream, marine, and heavy-duty industrial segments. Nonetheless, capital intensity and periodic maintenance requirements can temper near-term rollouts, especially in price-sensitive emerging markets.

On a regional level, North America commands the largest share, propelled by stringent EPA regulations, mature industrial infrastructure, and attractive federal tax credits for CHP installations. Europe follows closely, driven by the EU’s Industrial Emissions Directive and the push for circular economy practices in Germany, Italy, and the U.K. Asia Pacific is forecast to register the fastest growth from 2025 to 2035 as China, India, and Southeast Asian economies scale up manufacturing capacities, construct new cement and steel plants, and adopt waste heat boiler systems to manage spiraling energy costs. Latin America and Middle East & Africa are emerging pockets, supported by renewable energy targets and ongoing refinery and petrochemical expansions.

Major market players included in this report are:
• Bosch Industriekessel GmbH
• Thermax Limited
• Babcock & Wilcox Enterprises, Inc.
• Clayton Industries
• Aalborg Industries A/S
• Mitsubishi Hitachi Power Systems
• Doosan Lentjes GmbH
• John Cockerill SA
• Vyncke NV
• Fives Group
• Priority Boiler Works, Inc.
• Spirax Sarco Engineering plc
• ZOZEN Boiler Co., Ltd.
• Cleaver-Brooks, Inc.
• Nooter/Eriksen, Inc.

Global Waste Heat Boiler Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025-2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. It provides detailed information on driving factors and challenges shaping future growth, identifies micro-market opportunities for investors, and analyzes competitive dynamics and key product innovations.

The detailed segments and sub-segments of the market are explained below:

By Temperature:
• Medium
• High
• Ultra High

By Source:
• Oil Engine
• Gas Engine
• Gas Turbine
• Incinerator
• Cement Plant Kiln
• Steel Plant
• Glass Furnace

By Orientation:
• Horizontal
• Vertical

By End-User:
• Power Generation
• Petrochemical & Refining
• Cement & Lime
• Steel & Metals
• Glass
• Food & Beverage
• Others

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level insights.
• Competitive landscape with profiles of leading players.
• Analysis of key business strategies and future market entry recommendations.
• Assessment of market structure, including partnerships, mergers, and acquisitions.
• Demand-side and supply-side analysis highlighting market drivers and constraints.

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