Global Industrial Air Preheater Market to Reach US$ 16,396.5 Million by 2034, Growing at a CAGR of 6.1%

report comprises of insights regarding trends, driving & challenging factors and market taxonomy, future estimations of industrial air preheater market,

MD, UNITED STATES, December 13, 2024 /EINPresswire.com/ -- The industrial air preheater market is anticipated to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2034, from a projected valuation of US$ 9,069.8 million in 2024 to US$ 16,396.5 million by 2034.

The industrial air preheater market is experiencing a steady growth trend with the rising demand of numerous sectors for energy efficiency and stringent environmental constraints. In the power generation and chemical industries, investments in advanced air preheaters are being accelerated to achieve enhanced operational efficiencies. In addition, the growth prospects of the market will be further pushed by technological advancements and the integration of IoT and automation solutions.

The industrial air preheater market is experiencing a steady growth trend with the rising demand of numerous sectors for energy efficiency and stringent environmental constraints. In the power generation and chemical industries, investments in advanced air preheaters are being accelerated to achieve enhanced operational efficiencies. In addition, the growth prospects of the market will be further pushed by technological advancements and the integration of IoT and automation solutions.

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A lot of rapid industrialization is occurring in the market, particularly in the Asia-Pacific and Middle Eastern regions, in which air-preheating solutions are being high demand. Additionally, global momentum towards clean energy and renewable power generation is growing, so that will do much to help demand for air preheaters.

Along with this, in the developed economies of the U.S. and Canada, modernization of old power infrastructure is also forcing developments in retrofitting the power plants, which is driving the advanced air preheater systems. In addition, regenerative air preheaters are used primarily due to their recovery efficiency, thereby offering the industry an opportunity for operational efficiency with strict emission standards. Overall, the industrial air preheater market is going to grow firmly as sustainability sets in as a top priority for the industries across sectors. super-efficient and eco-friendly preheaters in design are expected, especially with tighter carbon emission regulations. Carbon-emission-reducing targets push the pursuit of energy-conserving technology, which affords industries the incentives to emit less carbon. Industrial air preheaters play a significant role in improving the thermal efficiency of power plants and heavy industries through waste heat recovery from exhaust gases, therefore consuming less fuel and emitting fewer amounts of it.

A lot of rapid industrialization is occurring in the market, particularly in the Asia-Pacific and Middle Eastern regions, in which air-preheating solutions are being highly demanded. Additionally, global momentum towards clean energy and renewable power generation is growing, so that will do much to help demand for air preheaters.

Along with this, in the developed economies of the U.S. and Canada, modernization of old power infrastructure is also forcing developments in retrofitting the power plants, which is driving the advanced air preheater systems. In addition, regenerative air preheaters are used primarily due to their recovery efficiency, thereby offering the industry an opportunity for operational efficiency with strict emission standards. Overall, the industrial air preheater market is going to grow firmly as sustainability sets in as a top priority for the industries across sectors.

Key Takeaways from the Market Study
• During 2024-2034, the market will expand with a CAGR of 6.1%
• Among regions, East Asia exhibits the fastest growth with a CAGR of 7.2%
• Regenerative Air Preheater holds about 65.2% of the share in the Product Type Segment.
• In the end-use industry segment, thermal power plants holds about 33.1% of the market in 2024.
• The global industrial air preheater market growth was about 4.8% during the historic period (2019-2023).

“Rising Efficiency Demands And Regulations Drive Robust Air Preheater Growth,” says a Fact.MR analyst.

Market Growth Stratagems

Some strategies, therefore, regarding industrial air preheaters include advanced designs that offer the efficiency of energy consumption, opportunities of IoT and automation for better performance, market share growths in rising markets with a continuation of industrialization processes, and further focus on sustainability by keeping consistent innovations in developing green technologies. Thus, the collaborative and partnership moves will further support the growth of the market and innovations.

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More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the industrial air preheater market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024-2034.

The study reveals essential insights on the basis of By Product (Regenerative Air Preheater and Recuperative Air Preheater), By End-Use (Thermal power plants, Steel industries, Cement industries, Chemical industries, Food industries, Pharmaceutical industries and Others (Textile, Refinery)) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).

Key Players-

ABB Ltd.; Air Preheater Company, Inc.; Alstom Power; Arvos Group; Babcock & Wilcox Enterprises, Inc.; Balcke-Dürr GmbH; BD Group Industries, LLC; Born Inc.; Ekstroms Varmetekniska AB; GE Power; Geurts International B.V; Harbin Boiler Co., Ltd.; Howden Group Ltd.; Kelvion Holding GmbH; L&T-MHPS Boilers Pvt. Ltd.; Ljungström (ARVOS Group); Mitsubishi Heavy Industries; Shandong Hengtao Enterprise Co., Ltd.; Thermodyne Engineering Systems; Thyssenkrupp Industries India Pvt. Ltd.; Other Competitors

Industry news-

In July 2024, Honeywell agreed to acquire Air Products' liquefied natural gas (LNG) process technology and equipment business for about US$ 1.81 billion to expand its energy transition portfolio through comprehensive solutions in natural gas pre-treatment and liquefaction, built on digital automation through the Honeywell Forge and Experion platforms.

In May 2020, Geurts International B.V., a part of Heilig Group, announced that they have completed a project for a combustion air preheater designed for offshore business and renewable energy. The stainless steel preheater can withstand temperatures up to 480 degrees Celsius at 0.25 barg.

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