Industrial Air Preheater Market Outlook
According to a new report by Expert Market Research titled, “Industrial Air Preheater Market Price, Share, Analysis, Report and Forecast 2023-2028″, the industrial air preheater market is projected to grow at a CAGR of 5.50% between 2023 and 2028. Aided by the rising demand for natural sweeteners in food products and the widening applications of starches in numerous industries, the market is expected to grow significantly by 2028.
An air preheater is a device designed to heat the air before another process with the primary objective of increasing efficiency. In the context of industries, these preheaters are used to improve the heat exchange performance of boilers and reduce heat loss, thus enhancing overall operational efficiency. Apart from this, air preheaters are key in minimising fuel consumption and reducing greenhouse gas emissions, aligning with the global emphasis on sustainable industrial practices.
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The rising need for energy-efficient heating solutions in industries is a crucial driver for the global industrial air preheater market growth. As industries become increasingly aware of the cost and environmental implications of energy usage, there has been a significant shift towards energy-efficient solutions, leading to a surge in demand for industrial air preheaters. Furthermore, stringent government regulations regarding greenhouse gas emissions have contributed to the increasing popularity of air preheaters in industries.
The expanding applications of air preheaters in various sectors also play a significant role in boosting the industrial air preheater market expansion. In the power generation industry, air preheaters are used to improve the efficiency of power plants and reduce carbon emissions. In the oil and gas industry, they are utilised for various processes such as crude oil refining, natural gas processing, and petrochemical production. The chemical industry uses air preheaters for numerous high-temperature reactions, contributing to their widespread adoption.
Additionally, the global emphasis on sustainability and energy conservation has led to an increased focus on advanced air preheater technologies. The advent of regenerative air preheaters, which can recover heat from flue gases and significantly reduce fuel consumption, has been a major development in this regard. This innovation, coupled with the ongoing advancements in air preheater design and material technology, is expected to drive the industrial air preheater market growth.
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Finally, the rise in industrialisation in emerging economies, such as those in Asia Pacific and South America, coupled with the increasing adoption of advanced energy-saving technologies, is expected to provide significant growth opportunities for the industrial air preheater market.
Industrial Air Preheater Market Segmentation
The market can be divided based on type, end use, and region.
Market Breakup by Type
- Regenerative Air Preheaters
- Recuperative Air Preheaters
Market Breakup by End Use
- Chemicals
- Pharmaceuticals
- Thermal Power Plant
- Steel
- Cement
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global industrial air preheater companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Kelvion Holding GmbH
- Heilig Group
- Imeco Limited
- Howden Group
- HeatMatrix Group B.V.
- Others
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