- The key vendors in the global waste heat recovery boiler market 2015-2019 are ABB Ltd., Alstom AG, Echogen Power Systems, Foster Wheeler AG, and General Electric (GE).
London, 8 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global waste heat recovery boiler market 2015-2019. The increasing competition from a number of vendors in this market is a key trend that is expected to drive market growth of the global waste heat recovery boiler market. The established vendors are expected to dominate this market through their ability to deliver more integrated heat recovery systems. This market is expected to see considerable growth as a result of increased contribution from domestic and international vendors. The global waste heat recovery boiler market is expected to grow at a CAGR of 7.3% during the forecast period of 2014-2019.
Market growth is driven by the increase in waste heat emissions from various industries such as chemicals and primary metal manufacturing. The increasing demand for cement and glass in the APAC region is also expected to drive market growth as these industries are energy-intensive and use a large number of waste heat recovery boilers. Apart from the aforementioned reasons, APAC’s flourishing economy and growing industrial sectors are expected to boost the demand for fuel-efficient equipment and waste heat recovery systems.
“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,” says Faisal Ghaus, Vice President of Technavio Research.
“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.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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