Global sales of industrial air preheater reached ~ 450 units in 2018, as disclosed by the new research study by Fact.MR. According to the report, the industrial air preheater market is predicted to grow by ~3.2% YoY in 2019, primarily influenced by the prominent players investing in manufacturing operations in the global industrial air preheater landscape.
According to the research, increasing center of attention on new developments and demand in various end use sectors is subsidized to enhance revenue generation of industrial air preheater market through 2029. Coal-fired plants and other industries’ expansion around the globe, will also continue to provide a stimulus to the sales of industrial air preheater in 2019 and further.
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Industrial air preheater is witnessing a significant growth in demand. The regenerative type of air preheater dominates the market, as it is used in thermal power plants and chemical industries where the large capacity boilers are installed. Besides, the regenerative type of industrial air preheater offers easy replacement of components and weighs significantly more than the recuperative industrial air preheater. Increasing demand for fuel has influenced an exponential growth of petrochemical industries, which is foreseen to create ample opportunities for industrial air preheater market in the years to come.
According to the Fact.MR, end use sectors will continue to markedly prefer rotary type regenerative industrial air preheater, with worldwide sales poised to reach ~350 units in 2019. Demand for the recuperative type industrial air preheater is estimated to reach around 90 units by the end of 2019. Demand for regenerative type industrial air preheater will majorly be driven by growing coal-fired plants in developing nations. Moreover, industrial air preheater finds a wide range of application in waste heat boiler, flue gas boiler, and other boilers, thereby favoring the manufacturing sectors worldwide.
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Key Market Players to Make Treble Investments in Asian Countries
Electricity generation by coal will continue to sustain high demand for industrial air preheater, finds the report. In the thermal power plants landscape, large capacity boilers are used and as a part of boiler accessories, air preheaters are installed, such as rotary, regenerative industrial air preheaters. On account of advantages such as payback period being very short and increased combustion rates of the boiler, regenerative type industrial air preheaters have marked their space in the coal-fired plants and chemical industries.
According to the study, growth opportunities for the industrial air preheater market players are triggering the pace in Asian countries, owing to profound growth of the regional industrial ecosystem such as Thermal power plants, chemical industries, cement industries and others. Newer opportunities are blooming in the East Asia industrial air preheater market and are set in motion by the growing electricity, fuel, and oil & gas demand.
Fact.MR’s business perception is also focusing on the innovative insights into the competitive landscape of industrial air preheater market along with highlights of the manufacturers’ differential blueprint. Key players in the industrial air preheater market will continue to draw upon the various R&D for offering new products in their existing portfolio. For instance, Howden group limited- an industrial product manufacturing company with L&T is innovating new quad-sector type regenerative industrial air preheaters to the latest technology standard which brings a wide range of benefits like- improved efficiency, greater reliability, reduced operational cost, and optimized performance.
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This study underlines the key future prospects in the industrial air preheater market and finds that the market would exhibit growth at a value CAGR of ~3.7% during forecast period.
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