Stringent energy efficiency norms to fuel waste heat boiler demand
Selbyville, Delaware, United States, September 29 2020 (Wiredrelease) Global Market Insights, Inc –:Efficient implementation and performance of waste heat boilers is a key element in the efforts of industrial facilities to keep utility costs in check. Waste heat recovery boilers utilize heat in flue gases from exhausts, hot water air flows or combustions processes to generate saturated steam or hot water as per the application requirement of the plant.
These systems contribute substantially towards energy efficiency as the heat readily available is utilized in processes where fuel or other resources are typically used. Waste heat boilers are frequently used in conjunction with combined heat and power units and gas turbines due to economic and legislative considerations.
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The impact of surging energy costs has led to increased adoption of waste heat recovery systems to exploit residual heat energy by industrial processes. It is estimated that global waste heat boiler market size will witness a steady growth in the upcoming years.
The impact of environmental concerns and energy efficiency standards
With growing concern for climate change, global warming and high energy costs, industries are highly focused on enhancing the energy efficiency of plants. As a result, the implementation of waste heat recovery systems in industrial facilities is experiencing a significant adoption. Manufacturers and suppliers of waste heat boilers are bound to witness promising opportunities in terms of supply deals and contracts in the near future.
For instance, In June 2020, Mitsubishi Heavy Industries Environmental and Chemical Engineering Company Limited (MHIEC), a part of Mitsubishi Heavy Industries, received an order from Kushiro Wide-Area Federation for the repair and refurbishment of core equipment at its Takayama-based waste-to-energy plant.
The core equipment renovation contract includes the revamp of superannuated key components of the plant including waste heat boilers, waste heat receiving and feeding equipment, and flue gas treatment systems. The revamp is scheduled to be completed by September 2023.
In September 2019, Mitsubishi Hitachi Power Systems Limited (MHPS) had received an order for replacement and refurbishment of waste heat boiler in operation at Philippine Associated Smelting and Refining Corporation (PASAR) located on the country’s Leyte Island.
Citing yet another instance, in February 2020, Kawasaki Heavy Industries was awarded a contract for the supply of a waste heat recovery power generation (WHRPG) system for Japan’s Taiheiyo Cement Corporation’s cement plant. The deal includes supply on VEGA boiler, Kawasaki’s newly developed waste heat boiler, steam turbine generator, and other components and equipment.
Ongoing technological advances offer significant promise in recovering waste heat more efficiently compared to conventional technologies.
Some major factors limiting the product adoption and future scope
High costs associated with the installation, repair, maintenance, and replacement of waste heat boilers might affect product demand trends slightly. Also, even though waste heat recovery boilers are efficient, their implementation is not feasible for every industry.
However, wide utilization of waste heat boilers in many sectors and incremental developments in boiler efficiency will continue to offer additional opportunities for energy efficiency. The growing need for energy-efficient solutions will serve as a major trend augmenting waste heat boiler industry forecast.
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