The waste heat boiler market in North America is expected to grow from US$ 1.09 Bn in 2018 to US$ 1.68 Bn by the year 2027. This represents a CAGR of 5.0% from the year 2019 to 2027.
The performance of waste heater boilers is a key element in the efforts of commercial facilities to hold down utility costs. For maintenance and engineering procedures in various industries, businesses trying to provide efficient boiler performance, the efficiency of the boiler is decided by the proportion of heat output to the amount of fuel utilized. According to the U.S Department of energy, traditional heating systems generally run between 56% to 70% efficiency, which is a substantial loss in energy savings. However, modern boilers and water heaters run around 80% efficiency, which provides significant energy savings when used in a number of industries. Thus, developing technologies offer promise in recovering waste heat more efficiently rather than traditional.
Furthermore, owing to the large magnitude of steam boilers in various industries, incremental developments in boiler efficiency might continue to provide additional opportunities for energy efficiency. Hence, the growing demand for energy-efficient solutions is acting like a trend in the North America waste heat boilers market. These waste heat boilers lessen the issues related to energy and propose new energy-efficient solutions.
Efficient energy management can be achieved by adding new power transmission or generation capacity. Waste heat boilers are one of the signification examples of efficient energy management. With the growing trend of increasing energy prices and the increasing concern for global warming, industries are highly focused on improving the efficiency of the plants. In this scenario, the implementation of a waste heat boiler in the industrial process is witnessing high adoption. With the increasing energy prices and the increasing focus on efficient energy management, it is expected that the waste heat boiler market will witness high growth during the forecast period.
Canada Waste heat boiler market is expected to grow at a good CAGR in the forecast period. Canada is one of the major suppliers of the ores, semi-fabricated, as well as and fabricated mineral and metal products to over 100 countries globally. This process of fabrication of minerals in the factory generates huge waste, and these waste are used to used generate steam, which can be used for various other purposes through waste heat boilers. Hence, the requirement of a waste heat boiler to be installed in fabrication plants is high, which is fuelling the market. The figure given below highlights the revenue share of Mexico in the North America waste heat boiler market in the forecast period:
Mexico Waste Heat Boiler Market Revenue and Forecasts to 2027 (US$ Mn)
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North America Waste Heat Boiler Market–Segmentation
North America Waste Heat Boiler Market By Waste Heat Temperature
- Medium Temperature
- High Temperature
- Ultra-High Temperature
North America Waste Heat Boiler Market By Waste Heat Source
- Oil Engine Exhaust
- Gas Engine Exhaust
- Gas Turbine Exhaust
- Incinerator Exit Gases
- Kiln & Furnace Gases
- Others
North America Waste Heat Boiler Market By Orientation
- Horizontal
- Vertical
North America Waste Heat Boiler Market By End-User
- Power Generation Utilities
- Oil & Gas
- Chemical
- Primary Metals
- Non-Metallic Minerals
- Others
North America Waste Heat Boiler Market By Country
- US
- Canada
- Mexico
North America Waste Heat Boiler Market-Companies Mentioned
- Alfa Laval
- Bosch Group
- CiTECH Energy Recovery Solutions (UK) LTD
- General Electric
- Kawasaki Heavy Industries, Ltd
- Nooter/Eriksen
- Siemens AG
- Thermax
- Thyssenkrupp AG
- Viessmann Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Waste Heat Temperature, Waste Heat Source, Orientation, End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Waste Heat Boiler Market Landscape
4.1 Market Overview
4.2 PEST ANALYSIS
4.2.1 North America PEST Analysis
4.3 Ecosystem Analysis
5. North America Waste Heat Boiler Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing prices of energy and growing concerns regarding energy optimization
5.2 Key Market Restraint
5.2.1 Challenges associated with integration of waste heat recovery solutions within existing production process
5.3 Key Market Opportunity
5.3.1 Growing focus towards R&D and innovation of new technologies
5.4 Future Trend
5.4.1 Growing adoption of energy efficient solutions
5.5 Impact Analysis of Drivers and Restraints
6. North America Waste Heat Boiler Market –Market Analysis
6.1 North America Waste heat boiler Market Overview
6.2 North America Waste heat boiler Market Forecast and Analysis
7. North America Waste Heat Boiler Market Analysis – By Waste Heat Temperature
7.1 Overview
7.2 North America Waste Heat Boiler Market Breakdown, By Waste Heat Temperature, 2018 & 2027
7.3 Medium Temperature
7.3.1 Overview
7.3.2 Medium Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 High Temperature
7.4.1 Overview
7.4.2 North America High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Ultra-High Temperature
7.5.1 Overview
7.5.2 Ultra-High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Waste Heat Boiler Market Analysis – By Waste Heat Source
8.1 Overview
8.2 North America Waste Heat Boiler Market Breakdown, By Waste Heat Source, 2018 & 2027
8.3 Oil Engine Exhaust
8.3.1 Overview
8.3.2 North America Oil Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Gas Engine Exhaust
8.4.1 Overview
8.4.2 North America Gas Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Gas Turbine Exhaust
8.5.1 Overview
8.5.2 North America Gas Turbine Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Incinerator Exit Gases
8.6.1 Overview
8.6.2 North America Incinerator Exit Gases Market Revenue and Forecasts to 2027 (US$ Mn)
8.7 Kiln & Furnace Gases
8.7.1 Overview
8.7.2 North America Kiln & Furnace Gases Market Revenue and Forecasts to 2027 (US$ Mn)
8.8 Others
8.8.1 Overview
8.8.2 North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Waste Heat Boiler Market Analysis – By Orientation
9.1 Overview
9.2 North America Waste Heat Boiler Market Breakdown, By Orientation, 2018 & 2027
9.3 Horizontal
9.3.1 Overview
9.3.2 North America Horizontal Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Vertical
9.4.1 Overview
9.4.2 Vertical Market Revenue and Forecasts to 2027 (US$ Mn)
10. North America Waste Heat Boiler Market – By End-User
10.1 Overview
10.2 North America Waste Heat Boiler Market Breakdown, By End-User, 2018 & 2027
10.3 Power Generation Utilities
10.3.1 Overview
10.3.2 North America Power Generation Utilities Market Revenue and Forecasts to 2027 (US$ Mn)
10.4 Oil & Gas
10.4.1 Overview
10.4.2 North America Oil & Gas Market Revenue and Forecasts to 2027 (US$ Mn)
10.5 Chemical
10.5.1 Overview
10.5.2 North America Chemical Market Revenue and Forecasts to 2027 (US$ Mn)
10.6 Primary Metals
10.6.1 Overview
10.6.2 North America Primary Metals Market Revenue and Forecasts to 2027 (US$ Mn)
10.7 Non-Metallic Minerals
10.7.1 Overview
10.7.2 North America Non-Metallic Minerals Market Revenue and Forecasts to 2027 (US$ Mn)
10.8 Others
10.8.1 Overview
10.8.2 North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
11. North America Waste Heat Boiler Market – Country Analysis
11.1.1 North America Waste heat boiler Market Breakdown, By Country
11.1.1.1 U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.1.1.1 U.S. Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.1.1.2 U.S. Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.1.1.3 U.S. Waste Heat Boiler Market Breakdown, By Orientation
11.1.1.1.4 U.S. Waste Heat Boiler Market Breakdown, By End-User
11.1.1.2 Canada Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.1.2.1 Canada Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.1.2.2 Canada Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.1.2.3 Canada Waste Heat Boiler Market Breakdown, By Orientation
11.1.1.2.4 Canada Waste Heat Boiler Market Breakdown, By End-User
11.1.1.3 Mexico Waste heat boiler Market Revenue and Forecast To 2027 (US$ Mn)
11.1.1.3.1 Mexico Waste Heat Boiler Market Breakdown, By Waste Heat Temperature
11.1.1.3.2 Mexico Waste Heat Boiler Market Breakdown, By Waste Heat Source
11.1.1.3.3 Mexico Waste Heat Boiler Market Breakdown, By Orientation
11.1.1.3.4 Mexico Waste Heat Boiler Market Breakdown, By End-User
12. Waste Heat Boiler Market - Industry Landscape
12.1 Market Initiative
13. Waste Heat Boiler Market- Company Profiles
13.1 Alfa Laval
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CiTECH Energy Recovery Solutions (UK) LTD
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 General Electric
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Kawasaki Heavy Industries Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Nooter/Eriksen, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Siemens AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Robert Bosch GmbH (Bosch Industriekessel GmbH)
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Thermax
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Thyssenkrupp AG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Viessmann Group
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Waste heat boiler Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. North America Waste heat boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 3. North America Waste heat boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 4. North America Waste heat boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 5. North America Waste heat boiler Market Revenue and Forecast To 2027 – By End-User (US$ Mn)
Table 6. North America Waste heat boiler Market Revenue and Forecast To 2027 – By Country (US$ Mn)
Table 7. U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 8. U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 9. U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 10. U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-User (US$ Mn)
Table 11. Canada Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 12. Canada Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 13. Canada Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 14. Canada Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-User (US$ Mn)
Table 15. Mexico Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Temperature (US$ Mn)
Table 16. Mexico Waste Heat Boiler Market Revenue and Forecast To 2027 – By Waste Heat Source (US$ Mn)
Table 17. Mexico Waste Heat Boiler Market Revenue and Forecast To 2027 – By Orientation (US$ Mn)
Table 18. Mexico Waste Heat Boiler Market Revenue and Forecast To 2027 – By End-User (US$ Mn)
Table 19. Glossary of Term: Waste Heat Boiler Market
LIST OF FIGURES
Figure 1. North America Waste heat boiler Market Segmentation
Figure 2. North America Waste Heat Boiler Market Segmentation – By Country
Figure 3. North America Waste Heat Boiler Market Overview
Figure 4. Oil Engine Exhaust held largest share in the North America Waste Heat Boiler Market
Figure 5. Primary Metals Segment expected to witness the highest CAGR
Figure 6. Canada Region Is Expected To Show Remarkable Traction During The Forecast Period
Figure 7. North America PEST Analysis
Figure 8. Waste Heat Boiler Market Ecosystem Analysis
Figure 9. Energy Price Index, 2015-2019
Figure 10. North America Waste Heat Boiler Market Impact Analysis of Drivers and Restraints
Figure 11. North America Waste heat boiler Market Forecast and Analysis, (US$ Mn)
Figure 12. North America Waste Heat Boiler Market Breakdown, By Waste Heat Temperature, 2018 & 2027 (%)
Figure 13. North America Medium Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. North America High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Ultra-High Temperature Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. North America Waste Heat Boiler Market Breakdown, By Waste Heat Source, 2018 & 2027 (%)
Figure 17. North America Oil Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. North America Gas Engine Exhaust Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America Gas Turbine Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. North America Incinerator Exit Gases Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. North America Kiln & Furnace Gases Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. North America Waste Heat Boiler Market Breakdown, By Orientation, 2018 & 2027 (%)
Figure 24. North America Horizontal Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. North America Vertical Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. North America Waste Heat Boiler Market Breakdown, By End-User, 2018 & 2027 (%)
Figure 27. North America Power Generation Utilities Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. North America Oil & Gas Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. North America Chemical Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. North America Primary Metals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. North America Non-Metallic Minerals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 32. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. North America Waste heat boiler Market Breakdown, By Country, 2018 & 2027(%)
Figure 34. U.S. Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 35. Canada Waste Heat Boiler Market Revenue and Forecast To 2027 (US$ Mn)
Figure 36. Mexico Waste heat boiler Market Revenue and Forecast To 2027 (US$ Mn)
The List of Companies
- Alfa Laval
- Bosch Group
- CiTECH Energy Recovery Solutions (UK) LTD
- General Electric
- Kawasaki Heavy Industries, Ltd
- Nooter/Eriksen
- Siemens AG
- Thermax
- Thyssenkrupp AG
- Viessmann Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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