Market Forecast by Countries (South Africa, Nigeria, Kenya, Rest of Africa), By Temperature (Medium, High, Ultra High), By Waste Heat Source (Oil Engine Exhaust, Gas Engine Exhaust, Gas Turbine Exhaust, Incinerator Exit Gases, Cement Plant Kiln Gases, Steel Plant Furnaces, Hot Gases from Process, Glass Furnace Gases), By Orientation (Horizontal, Vertical), By End-User (Power Generation Utilities, Oil & Gas, Chemical, Primary Metals, Non-Metallic Minerals) And Competitive Landscape
Product Code: ETC4604447 | Publication Date: Jul 2023 | Updated Date: Oct 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 300 | |
Report Name | Africa Waste Heat Boiler Market |
Forecast Period | 2024-2030 |
Market Size | USD 400 Million By 2030 |
CAGR | Â 5% |
Growing Sector | Oil & Gas |
Africa Waste Heat Boiler Market report thoroughly covers the market By Countries, By Temperature, By Waste Heat Source, By Orientation, By End-User. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Waste Heat Boiler Market is projected to witness significant growth from 2024 to 2030. This growth is driven by increasing industrialization and the need for energy-efficient solutions across the continent. In 2024, the market size is expected to reach approximately USD 250 million. By 2030, this figure is anticipated to expand to around USD 400 million, reflecting a compound annual growth rate (CAGR) of about 8%. Industries such as chemical, oil & gas, and power generation are expected to contribute substantially to this market expansion, as they seek to optimize energy use and reduce emissions through the adoption of waste heat recovery systems.
Africa Waste Heat Boiler Market is expected to witness significant growth in the coming years, owing to the increasing demand has been gaining traction due to the increasing demand for energy-efficient solutions and sustainable development practices. The growing industrialization, coupled with stringent environmental regulations, has led to the adoption of waste heat boilers across various industries.
According to 6Wresearch, the Africa Waste Heat Boiler Market Size forecast to grow at remarkable growth rate, Reaching a CAGR of 5% during the forecast period 2024-2030. One of the major drivers of this market is the growth of the waste heat boiler market in Africa include increasing industrialization, rise in demand for energy efficient solutions, and government regulations promoting sustainable practices. However, high initial costs and lack of awareness about waste heat boilers amongst small and medium enterprises can pose as challenges for the market. Waste heat boilers are designed to recover heat from various industrial processes, such as exhaust gases, hot air streams, and thermal fluids. This recovered heat can then be used to generate electricity or for other heating purposes, thereby reducing energy costs and carbon emissions.
Despite the Africa Waste Heat Boiler Market Growth, there are certain challenges faced by the Africa waste heat boiler market, such as high installation costs and lack of awareness about the benefits of waste heat recovery systems among small and medium-scale industries. These factors may hinder the growth of the market in some regions.
One of the major trends driving the growth of waste heat boiler market in Africa is the increasing focus on sustainability. With rising concerns over climate change and environmental degradation, there is a growing demand for sustainable solutions that can help reduce carbon emissions and minimize energy consumption. Waste heat boilers offer an environmentally friendly and cost-effective solution by utilizing waste heat generated from industrial processes to generate electricity or heat.
Another significant trend in the Africa waste heat boiler market is the rapid industrialization and urbanization across the continent. As African countries continue to develop, there has been a surge in industries such as oil and gas, mining, chemical processing, and power generation. These industries generate a significant amount of waste heat that can be utilized through waste heat boilers.
One of the key factors driving investment opportunities in the Africa waste heat boiler industry is the rising awareness and implementation of environmental regulations. Governments across the continent are increasingly focusing on reducing carbon emissions and promoting sustainable practices. This has led to stricter regulations on industrial emissions, resulting in an increased demand for waste heat boilers. Moreover, rapid industrialization and urbanization in African countries have also led to a significant increase in energy consumption. Waste heat boilers offer an efficient and cost-effective solution for industries to meet their energy needs while minimizing their carbon footprint.
Several leading players dominate the Africa Waste Heat Boiler Market share, including both international and local manufacturers. include Aalborg Engineering, Forbes Marshall Pvt. Ltd., General Electric Company, Siemens AG, Thermax Limited, and Mitsubishi Hitachi Power Systems Ltd. These companies are actively involved in research and development to improve the efficiency of waste heat boilers and expand their market presence.
The government regulations in the Africa Waste Heat Boiler Market are primarily aimed at promoting energy efficiency and reducing greenhouse gas emissions. Many African governments have introduced stringent policies and incentives to encourage the adoption of waste heat boilers as a part of sustainable industrial practices. For example, South Africa's Integrated Resource Plan emphasizes improving energy efficiency and the use of renewable energy sources, supporting industries that implement waste heat recovery systems. Similarly, Nigeria has initiated programs to cut industrial emissions, fostering the use of technology that maximizes energy recovery from waste heat. These regulatory frameworks not only help in combating climate change but also bolster the market for waste heat boilers by creating a favorable environment for investment and innovation in this sector.
The future of the Africa waste heat boiler market looks promising, with increasing focus on sustainable development and energy efficiency. The market is expected to witness significant growth during the forecast period, driven by government regulations and advancements in technology. However, addressing the challenges such as high initial investment and lack of awareness among industries will be crucial for sustained growth in this market. Additionally, collaborations between governments and key players could further accelerate the adoption of waste heat boilers in industries across Africa. Overall, the future looks bright for the Africa waste heat boiler market, presenting immense opportunities for businesses operating in this industry.
Overall, the Africa waste heat boiler market presents promising growth opportunities for various industries in the region. The demand for energy-efficient solutions and government regulations promoting sustainable practices are expected to drive the market growth in the coming years. With advancements in technology and increasing awareness about waste heat recovery systems, the market is set to witness significant developments and innovations
The report offers a comprehensive study of the subsequent market segments and their leading categories.
South Africa has been showing a significant growth in demand for waste heat boilers. This can be attributed to the country's rapid industrialization and increasing focus on sustainable energy solutions.
According to Nitesh Kumar, Research Manager, 6Wresearch, one waste heat source that is seeing a growing demand in Africa's waste heat boiler market is gas engine exhaust. As the continent continues to develop and industrialize, there has been an increase in the use of gas engines for power generation. This results in a significant amount of wasted exhaust heat which can be harnessed through waste heat boilers.
One particular type of waste heat boiler that is seeing a significant increase in demand is the ultra-high temperature boiler. This type of boiler is designed to handle extremely high temperatures, typically above 1000 degrees Celsius.
The oil and gas industry are expected to experience a significant growth in demand for waste heat boilers in Africa. With the increase in oil and gas production activities in countries like Nigeria, Algeria, Angola, and Egypt, there has been a rise in the need for efficient waste heat recovery solutions.
According to market trends and industry experts, the vertical orientation segment is expected to witness significant growth in demand within the Africa waste heat boiler market. This can be attributed to several factors such as increasing industrialization, growing investments in energy efficiency, and strict government regulations on emissions.
The market report has been segmented and sub segmented into the following categories:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Africa Waste Heat Boiler Market Overview |
3.1 Africa Regional Macro Economic Indicators |
3.2 Africa Waste Heat Boiler Market Revenues & Volume, 2020 & 2030F |
3.3 Africa Waste Heat Boiler Market - Industry Life Cycle |
3.4 Africa Waste Heat Boiler Market - Porter's Five Forces |
3.5 Africa Waste Heat Boiler Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Africa Waste Heat Boiler Market Revenues & Volume Share, By Temperature, 2020 & 2030F |
3.7 Africa Waste Heat Boiler Market Revenues & Volume Share, By Waste Heat Source, 2020 & 2030F |
3.8 Africa Waste Heat Boiler Market Revenues & Volume Share, By Orientation, 2020 & 2030F |
3.9 Africa Waste Heat Boiler Market Revenues & Volume Share, By End-User, 2020 & 2030F |
4 Africa Waste Heat Boiler Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Africa Waste Heat Boiler Market Trends |
6 Africa Waste Heat Boiler Market, 2020 - 2030 |
6.1 Africa Waste Heat Boiler Market, Revenues & Volume, By Temperature, 2020 - 2030 |
6.2 Africa Waste Heat Boiler Market, Revenues & Volume, By Waste Heat Source, 2020 - 2030 |
6.3 Africa Waste Heat Boiler Market, Revenues & Volume, By Orientation, 2020 - 2030 |
6.4 Africa Waste Heat Boiler Market, Revenues & Volume, By End-User, 2020 - 2030 |
7 South Africa Waste Heat Boiler Market, 2020 - 2030 |
7.1 South Africa Waste Heat Boiler Market, Revenues & Volume, By Temperature, 2020 - 2030 |
7.2 South Africa Waste Heat Boiler Market, Revenues & Volume, By Waste Heat Source, 2020 - 2030 |
7.3 South Africa Waste Heat Boiler Market, Revenues & Volume, By Orientation, 2020 - 2030 |
7.4 South Africa Waste Heat Boiler Market, Revenues & Volume, By End-User, 2020 - 2030 |
8 Nigeria Waste Heat Boiler Market, 2020 - 2030 |
8.1 Nigeria Waste Heat Boiler Market, Revenues & Volume, By Temperature, 2020 - 2030 |
8.2 Nigeria Waste Heat Boiler Market, Revenues & Volume, By Waste Heat Source, 2020 - 2030 |
8.3 Nigeria Waste Heat Boiler Market, Revenues & Volume, By Orientation, 2020 - 2030 |
8.4 Nigeria Waste Heat Boiler Market, Revenues & Volume, By End-User, 2020 - 2030 |
9 Kenya Waste Heat Boiler Market, 2020 - 2030 |
9.1 Kenya Waste Heat Boiler Market, Revenues & Volume, By Temperature, 2020 - 2030 |
9.2 Kenya Waste Heat Boiler Market, Revenues & Volume, By Waste Heat Source, 2020 - 2030 |
9.3 Kenya Waste Heat Boiler Market, Revenues & Volume, By Orientation, 2020 - 2030 |
9.4 Kenya Waste Heat Boiler Market, Revenues & Volume, By End-User, 2020 - 2030 |
10 Rest of Africa Waste Heat Boiler Market, 2020 - 2030 |
10.1 Rest of Africa Waste Heat Boiler Market, Revenues & Volume, By Temperature, 2020 - 2030 |
10.2 Rest of Africa Waste Heat Boiler Market, Revenues & Volume, By Waste Heat Source, 2020 - 2030 |
10.3 Rest of Africa Waste Heat Boiler Market, Revenues & Volume, By Orientation, 2020 - 2030 |
10.4 Rest of Africa Waste Heat Boiler Market, Revenues & Volume, By End-User, 2020 - 2030 |
11 Africa Waste Heat Boiler Market Key Performance Indicators |
12 Africa Waste Heat Boiler Market - Opportunity Assessment |
12.1 Africa Waste Heat Boiler Market Opportunity Assessment, By Countries, 2020 & 2030F |
12.2 Africa Waste Heat Boiler Market Opportunity Assessment, By Temperature, 2020 & 2030F |
12.3 Africa Waste Heat Boiler Market Opportunity Assessment, By Waste Heat Source, 2020 & 2030F |
12.4 Africa Waste Heat Boiler Market Opportunity Assessment, By Orientation, 2020 & 2030F |
12.5 Africa Waste Heat Boiler Market Opportunity Assessment, By End-User, 2020 & 2030F |
13 Africa Waste Heat Boiler Market - Competitive Landscape |
13.1 Africa Waste Heat Boiler Market Revenue Share, By Companies, 2023 |
13.2 Africa Waste Heat Boiler Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |