Global Industrial Air Preheater Market Report and Forecast 2024-2032

Global Industrial Air Preheater Market Outlook

The global industrial air preheater market size is expected to grow at a CAGR of 5.50% in the forecast period of 2024-2032. The market is being driven by the increasing applications of industrial air preheaters in various end use sectors and the growing need for energy optimisation.

Key Trends in the Market

An industrial air preheater is a device which is used to preheat air used in combustion processes for various industrial applications such as furnaces and boilers. The air is preheated using heat from the flue gases before the combustion air enters the furnace, resulting in improved thermal efficiency and lower temperatures of flue gases discharged.

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• The increasing applications of industrial air preheater in thermal power plants is driving the industrial air preheater market growth. Industrial air preheaters optimise fuel consumption, bolster operational efficiency, and reduce the chances of corrosion and fouling in the boiler system.

• Industrial air preheaters reduce carbon emissions which is a critical market driving factor. This can be attributed to the stringent regulations of various governments across emerging economies aimed towards reducing the carbon footprint of the industrial sector.

• The rising demand for industrial air preheaters in the steel sector, to improve energy utilisation, is likely to fuel the market growth of industrial air preheaters in the coming years. In addition, the market is further expected to be aided by rapid urbanisation and increasing population, propelling the demand for iron and steel.

• Growing research and development activities in the pharmaceutical sector is likely to generate a steady demand for industrial air preheaters in pharmaceutical production plants, leading to a heightened growth of the industrial air preheater market.

Market Analysis

Based on type, the market is bifurcated into regenerative air preheaters and recuperative air preheaters. On the basis of end use, the market is classified into chemicals, pharmaceuticals, thermal power plant, steel, and cement, among others. The regional markets for industrial air preheaters are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global industrial air preheater market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Kelvion Holding GmbH

• Heilig Group

• Imeco Limited

• Howden Group

• HeatMatrix Group B.V.

• Others

Market Share by Type

The regenerative air preheaters segment, based on type, accounts for a healthy share of the industrial air preheater market. Regenerative air preheaters have a design advantage, as these are more compact, have less weight, occupy less space, provide high heat, and are extremely efficient, enabling them to heat primary and secondary air. Due to their compact size and efficiency, regenerative air preheaters are commonly used in high capacity boilers. The increasing applications of regenerative air preheaters in the power generation sector and rising demand for power across various end use sectors, is further propelling the segment’s growth.

Market Share by Region

Geographically, Asia Pacific is anticipated to be one of the fastest-growing regions in the industrial air preheater market over the forecast period, driven by heightening adoption of advanced technologies across power plants in emerging economies such as India and China. Rising investments towards development of power plants in the region are fuelling the incorporation of industrial air preheaters, thereby, adding to the market  growth. Moreover, the rapid shift from non-renewable to renewable sources of energy is likely to be a crucial driving factor of the market for industrial air preheaters in this region. Meanwhile, Europe accounts for a considerable share of the industrial air preheater market, owing to the thriving chemical sector across well-established economies such as Germany and the United Kingdom.

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Competitive Landscape

Kelvion Holding GmbH is a leading company which develops, manufactures, distributes, and facilitates trading of various industrial components such as heat exchangers, air filtration systems, plastic filling media, aeration and ventilation solutions and performance. Founded in 1920, this company is headquartered in Bochum, Germany.

Heilig Group is a group of companies which offer technical solutions to various end users, as well as engineering solutions and production of machinery for recycling, waste separation, material handling, wood processing, industrial mixing, and heat exchanging, among others. The company was established in 1978 and is currently headquartered in Noord-Holland in the Netherlands.

Imeco Limited is one of the largest engineering organisations which caters to the demands of various sectors such as power, steel, cement, paper, fertiliser, chemicals, and refineries, among others. It was established in 1975 and is headquartered in West Bengal, India.

Other market players include Howden Group, and HeatMatrix Group B.V., among others.

Key Highlights of the Report