The global waste heat boiler market is estimated to account US$ 5.78 Bn in 2018 and is expected to grow at a CAGR of 6.4% during the forecast period 2019 – 2027, to account to US$ 10.03 Bn by 2027.
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Steam is a vital element in power generation plants, which is a key energy source and fulfils several significant functions, including for turbine operation, as process steam, or for district heating. Thus, heat recovery systems are considered very essential components in several power generation utilities. These components facilitate in increasing the overall efficiency of these plants and minimizes the fuel costs. For instance, several environmental problems can be caused by the fossil fuel power plants owing to their exhaust emissions as well as use of substantial amounts of water. Recovery of heat and water from the flue gas in a thermal power station can help in reducing the emissions as well as water requirements. Many techniques have been developed and implemented to utilize flue gas, which can facilitate in solving these issues. Among these, techniques focused on waste heat are quite attractive. The waste heat boiler by orientation is segmented into horizontal and vertical boilers. The waste heat recovery capacity of each of these boilers depends on the boiler efficiency. Further, the choice of orientation is majorly dependent on the installation site. Vertical boilers are usually preferred at small and narrow application; however horizontal boilers are mostly deployed at spacious site. Both of these boilers are different in terms of application area, thus the choice completely depends on the customers’ requirements.
The waste heat recovery system offers economical steady power for oil & gas operations, from drilling and production, to midstream and downstream. In oil & gas processing plants substantial amount of energy is frequently consumed to heat as well as cool product streams amongst stages. Further, the oil & gas sector strongly focuses on safety as well as consistency of operations. Thus, technologies for waste heat recovery can be extensively implemented to improve overall plant efficiency, after validating their operation fulfil the industry standards. Presently, maximum large refineries make use of CHP to deliver a share of their process steam and power requirements as well as to improve energy reliability. Most of existing CHP in the oil & gas sector is natural gas, however growth prospects appear in refineries planning expansions as well as upgrades. In 2019, Suncor Energy Inc., a Canadian Energy Company, announced to invest $1.4 Bn for the replacement of two coke-fired boilers with gas-fired cogeneration units in its oil sands project. This would help the company to reduce greenhouse-gas emissions from steam production at its base plant. Also, TransAlta Corporation signed an agreement with SemCAMS Midstream ULC to construct and operate a new CHP facility at a sour gas processing plant in Alberta. Further, Siemens was selected by Braskem, a Brazilian petrochemical company, to modernize its cogeneration power and steam plant located in Sao Paulo.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Waste Heat Boiler market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Waste Heat Boiler market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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