As per a recent report published by Future Market Insights, the global air preheater market is anticipated to attain a value pool of US$ 10 Billion by 2023-end. Global demand for air preheaters is expected to rise at a CAGR of 4.1% to US$ 15 Billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 10 Billion |
| Projected Market Value in 2033 | US$ 15 Billion |
| Growth Rate (2023 to 2033) | 4.1% CAGR |
The Air Preheater market is driven by several factors including:
Opportunities for the Air Preheater Market Include:
Growing demand for clean energy: The increasing focus on reducing carbon emissions and promoting clean energy is expected to drive the demand for air preheaters as they are used to increase the efficiency of boilers in power plants.
Expansion of Existing Power Plants: As governments around the world are investing in expanding existing power plants to meet the increasing demand for electricity, this presents an opportunity for the air preheater market.
Increasing Investments in Emerging Economies: The growing construction industry and infrastructure development in emerging economies such as India and China is expected to drive the air preheater market growth.
Increasing Adoption of Cogeneration and Trigeneration Systems: The increasing adoption of cogeneration and trigeneration systems is expected to create opportunities for the air preheater market as they are used to increase the efficiency of these systems.Bottom of Form
Development of Air Preheater Market in the Asia Pacific:
The air preheater market in the Asia Pacific region is expected to grow at a significant rate due to several factors, such as:
The primary objective of an air preheater is to increase the thermal efficiency or heat the air before another process such as combustion in a boiler. Air preheater have a wide range of application in waste heat boiler, flue gas boiler, many others hence favor the manufacturing sectors worldwide.
To recover heat from the flue gas and to reduce excessive heat loss regenerative type air preheater are used.In addition to the increased boiler efficiency, several other advantages of air preheater include, faster load vibration and fluctuation, intensified and improved use of hot air.
Effective integration of work flow & design by various air preheater is anticipated to give impetus to the global air preheater market. Owing to the above mentioned factors, the air preheater market is anticipated to witness moderate growth throughout the forecast period.
Owing to the increase in demand for power generation the demand for regenerative type of air preheater has grown in recent years, as they are used in chemical industries as well as thermal power plants where the large capacity boilers are installed.
Further growth in chemical industries is anticipated to create positive impact on the global air preheater market.
Inclination of several countries towards renewable energy sources for power generation in order to get clean energy is a detriment factor in the demand for air preheater in the global market.
The market of air preheater is flooded with both international and domestic players. Leading manufacturers are heftily investing in manufacturing operations in developing economies, such as India & China.
Recently, Howden Group limited a leading manufacturer, engaged in the innovation of new quad-sector type regenerative air preheater which brings wide range of benefits like greater reliability, improved efficiency, optimized performance and reduced operational cost.
The COVID-19 pandemic has impacted the global economy at various levels no industrial sector has been spared. As a result, a substantial slowdown in manufacturing in the first six months of 2020 has been witnessed as it reverberates through every industry.
The outlook remains uncertain for the remaining half of the year as the scope of the pandemic and its effect on production and demand & supply chains which is anticipated to impede the overall Air Preheater market growth.
A large number of coal-fired plants countries such as China and further expansion of thermal power plants is anticipated to reflect in the growth of air preheater market in Asia Pacific in the coming years.
Expansion of new petrochemicals in GCC countries create significant opportunity for the market in Middle East & Africa region. Developing chemical industry in Europe is further projected to create positive impact for the air preheater market during the forecast period. North and Latin America are also anticipated to witness moderate growth in the air preheater market.
Some of the key market participants in the global Air Preheater market, identified across the value chain include:
The research report on the Air Preheater market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Air Preheater market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
The global Air Preheater market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The most popular end user in the air preheater market is the power generation segment. The use of air preheaters in power plants is mandated by governments in many countries as a way to promote clean energy and reduce carbon emissions. Therefore, it is considered the most prominent end user of the air preheater market.
Recent Developments in the Air Preheater Market:
The global Air Preheater market can be segmented on the basis of Preheater Type, Material Type and End Use.
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Air Preheater Market
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