Technological Advancements Will Impact the Growth of Industrial Air Preheater Market

The technology of heating and cooling of systems is one of the most basic areas where a large number of companies across various industrial verticals are adapting their business model. The market for industrial air preheater used in coal-fired and chemical industries is foreseen to witness more incremental growth over the forecast period. Regenerative type industrial air preheater has its application to recover heat from flue gas and reduce excessive heat loss.   The market for industrial air preheater is witnessing incremental growth in the coal-fired plants and chemical industries, where it is used to recover heat from flue gas and reduce excessive heat loss through flue gases.

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The global industrial air preheater market is highly consolidated. Several international and domestic players are operating in the industrial air preheater market. Prominent manufacturers have been extensively investing in manufacturing operations in developing economies, such as India & China. The industrial air preheater market is consolidated due to existing and forthcoming coal-fired power plants which have important implications for greenhouse gas (GHG) emissions and climate goals so most of the developed economies are channelizing their inclination towards renewable energy sources such as wind and solar power for power generation to get clean energy and reduce pollution. This factor is likely to be a detriment in the industrial air preheater market growth.

Regenerative type of industrial air preheaters is poised to hold almost over 87% of the market share by 2029, and rotary type regenerative industrial air preheaters are gaining popularity with their contribution in increasing boiler thermic efficiency up to 15%, which is foreseen to benefit various industrial sectors thus bolstering the demand for industrial air preheater in the global market. The key industrial air preheater market players are focusing on mergers and acquisitions to proliferate their regional presence across various countries.

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Leading manufacturers in the industrial air preheater market are increasing their center of attention towards acquisition and merger to enhance the market share by consolodating their presence in different countries across the globe. For instance, Guerts International was acquired by Healing Group to hold a substantial position in industrial air preheater market as international supplier.

One of the recent developments by Howden group limited is as follows- an industrial product manufacturing company with Larsen&Toubro are innovating new quad-sector type regenerative industrial air preheater to the latest technology standards which brings wide range of benefits like improved efficiency, greater reliability, reduced operational cost, and optimized performance.

Such innovations come at an opportune time when thermal power plants are set to grow at a CAGR of approximately 6% in Asian countries over the forecast duration. The prominent players need to pace up their R&D.

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