Global Waste Heat Boiler Market Size is Poised to Reach USD 18.29 Billion by 2035 | CAGR of 7.09%
Category: Energy & PowerGlobal Waste Heat Boiler Market Size is Poised to Reach USD 18.29 Billion by 2035
According to a research report published by Spherical Insights & Consulting, the Global Waste Heat Boiler Market Size is estimated to grow from USD 8.61 Billion in 2024 to USD 18.29 Billion by 2035, at a CAGR of 7.09% during the forecast period 2025-2035.
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Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "Global Waste Heat Boiler Market Size, Share, and COVID-19 Impact Analysis, By Temperature (Medium Temperature, High Temperature, and Ultra-High Temperature), By Source (Oil Engine Exhaust, Gas Engine Exhaust, Gas Turbine, Incinerator Exit Gas, Cement Plant, and Others), By End User (Power Generation Utilities, Oli & Gas, Chemical, and Primary Metals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/waste-heat-boiler-market
The global waste heat boiler market includes systems that recover industrial waste heat to generate steam and electricity. Growth is driven by rising energy costs, carbon reduction requirements, and emission regulations. Government initiatives promoting industrial energy efficiency and emission control boost adoption in steel, cement, chemical, and power sectors. Technological advancements, such as high-efficiency systems, digital monitoring, modular designs, and renewable integration, enhance energy recovery and performance. The market offers opportunities in developing regions, retrofitting existing facilities with energy-efficient and renewable technologies, and meeting increasing demand across key industrial sectors worldwide. The global waste heat boiler market experiences growth because industrial facilities need more energy while fuel prices continue to increase, creating a need for energy recovery systems. However, high initial investment, complex installation, maintenance costs, fluctuating energy prices, strict environmental regulations, limited awareness restraining the market growth.
The high temperature segment dominated the market with the largest share of about 48.0% in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the temperature, the global waste heat boiler market is divided into medium temperature, high temperature, and ultra-high temperature. Among these, the high temperature segment dominated the market with the largest share of about 48.0% in 2024 and is projected to grow at a substantial CAGR during the forecast period. Due to greater industrial adoption, higher energy recovery efficiency, and suitability for the steel and cement industries.
The gas turbine segment accounted for the largest share of approximately 38.0% in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the source, the global waste heat boiler market is divided into oil engine exhaust, gas engine exhaust, gas turbine, incinerator exit gas, cement plant, and others Among these, the gas turbine segment accounted for the largest share of approximately 38.0% in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. This is because of high efficiency, widespread industrial adoption, and ability to recover substantial energy from exhaust gases for power generation.
The power generation utilities segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end user, the global waste heat boiler market is divided into power generation utilities, oil & gas, chemical, and primary metals. Among these, the power generation utilities segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. because these facilities produce large amounts of exhaust heat that can be efficiently recovered using waste heat boilers, improving energy efficiency and reducing operational costs, which drives higher adoption in this sector.
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Asia Pacific is expected to hold the majority share of the global waste heat boiler market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global waste heat boiler market during the forecast period, due to rapid industrialization, increasing energy demand, expansion of power generation capacity, and supportive government policies promoting energy efficiency.
North America is anticipated to grow at the fastest pace in the global waste heat boiler market during the forecast period, due to the adoption of advanced technologies, increasing focus on energy efficiency, and stringent regulations on industrial emissions.
Major vendors in the global waste heat boiler market are Siemens AG, General Electric Company, Thermax Limited, Bosch Industriekessel GmbH, Alfa Laval AB, Mitsubishi Heavy Industries Ltd, Foster Wheeler / Amec Foster Wheeler, Babcock & Wilcox Enterprises Inc, Kawasaki Heavy Industries Ltd, Forbes Marshall Pvt Ltd, Cleaver Brooks Inc, Nooter/Eriksen Inc, Zurn Industries, Clyde Bergemann Power Group, Hitachi Zosen Corporation, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Developments
• In March 2026, Veolia revealed plans to become a leader in European district heating by 2030 through its Ecothermal Grid solution. The initiative aims to decarbonize existing systems, expand network coverage, phase out coal, and generate approximately €350 million in revenue.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the global waste heat boiler market based on the below-mentioned segments:
Global Waste Heat Boiler Market, By Temperature
- Medium Temperature
- High Temperature
- Ultra-High Temperature
Global Waste Heat Boiler Market, By Source
- Oil Engine Exhaust
- Gas Engine Exhaust
- Gas Turbine
- Incinerator Exit Gas
- Cement Plant
- Others
Global Waste Heat Boiler Market, By End User
- Power Generation Utilities
- Oli & Gas
- Chemical
- Primary Metals
Global Waste Heat Boiler Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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