Industrial Air Preheater Market Size, Share & Industry Analysis, By Type (Regenerative Air Preheaters, Recuperative Air Preheaters), By End-user (Chemical Industry, Pharmaceutical Industry, Thermal Power Plant, Steel Industry, Cement Industry, Others) And Regional Forecast, 2024-2032

Air preheater is a device operated in industrial applications. It is utilized to heat air in order to increase thermal proficiency of the boiler processes. It is primarily installed between the economizer and flue gas stack (Chimney). The purpose of air preheater is mainly to recover heat which increases the thermal proficiency of the boiler by reducing heat lost in flue gas. On the basis of type, recuparative air preheater is a gas-to-gas heat exchanger whereas regenerative air preheater includes two or more isolated heat storage sections, each referred as a regenerator. Regenerative industrial air preheater is utilized to mend heat from flue gas and condense unnecessary heat loss through flue gas.

The market is fragmented with the presence of international and regional players operating across the globe. Leading players have shifted towards mergers and acquisitions with other players to penetrate product into the market. Moreover, these players are extensively upgrading their product portfolio to ensure adherence to low intensity harmful gas emissions, thus contributing towards minimizing the global warming effects. Furthermore, utilization of ‘Industry 4.0’ is providing opportunities in manufacturing technologies such as, industrial internet of things (IIOT) and others.

The technology of cooling and heating the required operating systems is the basic area where a large number of companies across industrial verticals are advancing their business model. This in turn, is foreseen to witness excessive growth of industrial air preheater market globally over the forecast period.

The COVID-19 pandemic has adversely impacted the selling and installation of air preheaters across industries including, chemical, thermal power plant, cement and others. The sudden lockdown imposed by governmental bodies has resulted in underutilised air preheaters, thus increasing the maintenance cost. As a result, a substantial stoppage in industrial application in the first half of 2020 has been observed as it resounds through every industry vertical. However, on a long term basis, the effect of COVID-19 on demand and supply chain process is expected to define the market growth in the future ahead.

Key Market Driver -

• Technological advancement in designing and positioning of industrial air preheater • Strict governmental laws and regulations to minimize global warming effects

Key Market Restraint -

• Rapid Shift towards the renewable energy sources

Key Players Covered:

Key players operating in the global industrial air preheater market are MITSUBISHI HEAVY INDUSTRIES MACHINERY SYSTEMS, LTD., Kelvion Holding GmbH, Heilig Group, IMECO LIMITED, KA Ekström & Son AB, ARVOS Group, Howden Group, Balcke-Dürr GmbH, HeatMatrix Group B.V., Thermodyne Boilers, Sigma Thermal, BD Group Industries, LLC, Wattco, Tinita Engg Pvt. Ltd, MAXXTEC, Siemens, Aerofin, Nanjing Yire Zonglian Energy Saving Technology Co., Ltd. and others.

Regional Analysis

Asia Pacific is expected to witness highest CAGR in the forecast period. It is attributed to the rise in spending by the manufacturers in response to adapt newer opportunities for market expansion in China and India. Additionally, leading manufacturers are establishing their manufacturing plants across countries including, India, Malaysia and others. For instance, in March 2018, ‘LJUNGSTRÖM’, a division of ‘ARVOS Group’ invested in India to set up new air preheater manufacturing plant at ‘Mahindra World City, Chennai’. The new plant has production capacity of nearly 16,000 metric tons per annum and the upgraded plant is catering demand for heating equipment in India.

Europe is expected to witness substantial growth, owing to the rising demand for energy generation in industrial applications including, power generation, food processing, etc. Moreover, in some areas, coal is probably the most efficient fuel to produce energy owing to, its availability that resulted in expansion of thermal power plants. Furthermore, the chemical industry demand in Europe is increasing, that is creating plentiful opportunities for industrial air preheater market.

North America is anticipated to witness steady growth in the forecast period, as manufacturers are shifting towards renewable energy sources such as, solar and wind to reduce pollution.

Middle East and Africa and Latin America are expected to witness steady growth. It is attributed to the rapid demand for petrochemical and chemical industries across GCC countries. Additionally, technological breakthroughs including, long lifespan of industrial air preheater, aftermarket services are attracting end-users with profitable outcomes across Africa and Latin America.

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Segmentation

Key Industry Developments

• May 2020: Geurts International B.V., a part of Heilig Group announced that the company has completed project of combustion air preheater for offshore business and renewable energy. The stainless-steel designed air preheater is suitable for temperatures up to 480 degree Celsius at 0.25 barg.


• January 2018: ‘LJUNGSTRÖM’, a division of ARVOS Group announced strategic agreement with ‘SEALEZE’, a brush solution provider to provide access of SEALEZE brush strip technology to LJUNGSTRÖM for incorporating into air preheater sealing products