Air Preheaters Market Analysis, Share by 2031

July 30, 2021

An air preheater is a device used to heat air in order to increase the thermal efficiency of the process. The main use of air preheater is to recover heat from flue gas and reduce excessive heat loss through flue gas. It also helps to control the temperature of flue gas. This device is found in the path of flue gases between the chimney and economizer. The market for air preheaters is expected to expand significantly during the forecast period.

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Air preheaters are preferred when the temperature of flue gas is very high. Some developing countries are witnessing an increase in power generation from coal due to a rise in the demand for energy in the last few years. Manufacturers are investing more in South America and Asia Pacific due to growing opportunities in emerging countries in these regions. These are major drivers expected to fuel the global air preheaters market.
However, coal power plants have a huge impact on global warming and also adversely affect the climate goals laid down by the Paris Agreement. Several developed countries are shifting to power generation from renewable energy sources such as solar and wind. These factors are expected to hamper the air preheaters market during the forecast period.
The new product development in air preheaters and collaboration of market players with manufacturers are expected to create significant opportunities for the air preheaters market during the forecast period.
Volatility in the prices of raw material is a key factor restraining the air preheaters market. Furthermore, the COVID-19 pandemic has been continuously causing fluctuations in the price of the raw material and has restricted the production of the air preheaters, which in turn is expected to hinder the market of air preheaters during the forecast period.

In terms of region the global air preheaters market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
Asia Pacific and Middle East & Africa is expected to hold a major share of the global air preheaters market during the forecast period as these regions are witnessing an increase in the new petrochemical plants. Furthermore, the development of the chemical industry in these regions is estimated to further propel the market during the forecast period.