Global Waste Heat Recovery Boiler Market 2015-2019
About Waste Heat Recovery Boiler
A waste heat recovery boiler captures undesired heat dissipated from industrial processes, which can be reused in other heating applications such as power generation. Waste heat may either be used in the same process or be transferred to other processes. It is estimated that as much as 20%-50% of industrial energy usage is released in the form of waste heat. The waste heat recovery boilers capture heat from gen sets, incinerators, furnace exhausts, and from other equipment that involves heat flow related processes.
Technavio's analysts forecast the global waste heat recovery boiler market to grow at a CAGR of 7.3% over the period 2014-2019.
Covered in this Report
The report includes the segmentation of the global waste heat recovery boiler market on the basis of source of waste heat recovery as well as geography.
Technavio's report, Global Waste Heat Recovery Boiler Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Waste Heat Recovery Boiler Market 2015-2019
Technavio recognizes the following companies as the key players in the global waste heat recovery boiler market: ABB, Alstom, Echogen Power systems, Foster Wheeler and GE
Other Prominent Vendors in the market are: Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies, Siemens and Thermax
Commenting on the report, an analyst from Technavio’s team said: “There are huge investment plans for the waste heat recovery boiler market in MEA. The Middle East is rich in gas reserves and there have been new gas explorations in East Africa, both of which have placed these regions in a strong position for future gas-based power plants. In East Africa, GE is set to provide four gas turbines to Tanzania, boosting the power capacity by 15%. They will also install 150 MW and 10 gas turbines in Mozambique, adding a power capacity of 40 MW. In the UAE, a CCGT plant with a capacity of 1,600 MW was installed in 2014. The increased number of CCGT plants will be a major determinant for market growth in MEA, as will the rising demand for energy.”
According to the report, the depletion of conventional energy sources and growing global demand for electricity have created a need for energy-efficient economies with low emissions. Governments and power utilities worldwide have been focusing on issues related to climate change, meeting environmental targets, and reducing energy dependence. The market players have recognized the profound need for sustainable development through a well-balanced portfolio of energy-efficient technologies. Waste heat recovery solutions help mitigate these energy-related problems.
Further, the report states that high cost of equipment and maintenance will likely remain one of the major challenges for the global waste heat recovery boiler market during the forecast period.
ABB, Alstom, Echogen Power systems, Foster Wheeler, GE, Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies, Siemens, Thermax