Preheater Market Size & Share 2026-2035

Preheater Market Size

The global preheater market was valued at USD 5.7 billion in 2025, is estimated to reach USD 6 billion in 2026, and is expected to grow at a 4.5% CAGR (2026-2035), reaching USD 8.9 billion by 2035.

The preheater market is advancing as industrial operators seek measurable reductions in fuel consumption and emissions exposure across power, refining, chemicals, cement, and metals. Replacement demand is increasingly shaped by equipment compatibility with alternative fuels, corrosion-prone exhaust streams, and plant modernization programs, rather than by capacity additions alone.

Preheater Market Market Trends, Growth Drivers & GMI Forecast Outlook

Efficiency regulation, combustion-system modernization, and fuel-flexibility requirements are moving preheater procurement beyond conventional maintenance spending. Demand remains strongest where compliance, process reliability, and energy-cost exposure converge, although capital intensity and retrofit execution complexity continue to moderate adoption in smaller and legacy industrial facilities.

Key Drivers

*Evidence anchors use cited external data; demand implications and forecast conditions represent GMI analysis.*

Thermal recovery investments are becoming easier to justify when plant managers can tie them to regulated operating performance, energy budgets, and auditable fuel savings. Rotary regenerative and fixed-surface designs improve the temperature of incoming combustion air or process streams, lowering fuel requirements while helping operators document efficiency improvements within broader decarbonization programs.

The revised Industrial Emissions Directive reinforces this logic in Europe by linking operating permits to Best Available Techniques requirements. Preheater replacement can therefore shift from a discretionary maintenance choice to part of a wider combustion-system upgrade, particularly where aging furnaces, boilers, cement kilns, and process heaters face permit-renewal decisions.

Hydrogen and biomass applications introduce another demand channel. Their exhaust chemistry, moisture levels, and corrosion risks can make legacy matrices, seals, and heat-transfer surfaces unsuitable, directing new orders toward alloy, coated, and engineered configurations with a higher technical content than conventional replacement units.

Key Restraints

*Evidence anchors use cited external data; demand implications and forecast conditions represent GMI analysis.*

Capital intensity is most restrictive where projects are too small to absorb engineering, civil, mechanical, and outage-related costs over a long operating horizon. This creates a commercial divide between utility-scale or petrochemical projects, where performance gains can support larger investments, and smaller industrial facilities facing competing demands for safety, capacity, or environmental capital.

Weakness in steel-making activity also has an outsized effect on the order pipeline because hot stoves, reheating furnaces, and rolling-mill equipment are important preheater applications. When utilization weakens, operators tend to defer upgrades that improve operating efficiency but do not immediately expand output.

Legacy-site execution adds a separate constraint. Existing ductwork, structural supports, access clearances, soot-blower arrangements, and shutdown schedules can require extensive customization, stretching conversion of a technically viable retrofit opportunity into an executable order.

Preheater Market Segment Analysis

By Type

The preheater market is segmented by type into regenerative air preheaters, recuperative air preheaters, fuel & gas preheaters, electric preheaters, and others, each addressing distinct thermal-recovery requirements across power generation, industrial processing, and specialty applications.

Regenerative Air Preheaters

Regenerative air preheaters generated USD 2.0 billion in 2025 and are projected to account for approximately 34% of market revenue by 2035. The preheater market continues to rely on regenerative systems where large combustion-air volumes and utility-scale duty favor rotating heat-transfer matrices. Their installed-base relevance remains substantial in coal- and gas-fired power plants, although retirements in mature markets gradually temper their mix position.

Recuperative Air Preheaters (incl. Tubular)

Recuperative air preheaters are projected to generate USD 3.3 billion by 2035 and represented 37% of revenue in 2025. Fixed-surface designs serve a broad set of refinery, chemical, and cement applications, giving this category a more diversified demand base than power-oriented equipment. Tubular, plate, and heat-pipe configurations are particularly relevant where process integration, corrosion management, and maintenance access determine the preferred design.

Fuel & Gas Preheaters

Fuel & gas preheaters generated USD 800 million in 2025 and are expected to grow at a CAGR of 4.0% (2026-2035). Demand is supported by fired heaters, refining operations, and petrochemical process units that need stable combustion conditions and lower fuel intensity. Their outlook is steadier than transformative, as gas infrastructure expansion offsets gradual electrification in selected specialty processes.

Electric Preheaters

Electric preheaters are projected to reach USD 1.0 billion by 2035 and are expected to grow at a CAGR of 7.3% (2026-2035). This segment benefits from applications where combustion-free heating improves contamination control, process precision, or emissions compliance. Specialty chemicals and pharmaceutical facilities are particularly important because electric architectures can align with cleanroom, validated-process, and electrification requirements.

Others

Other preheater types represented approximately 4% of revenue in 2025 and are projected to reach USD 400 million by 2035. Specialized steam-heated, heat-pipe, and hybrid systems serve fragmented use cases in marine, glass, ceramics, and other engineered applications. Their commercial role is less about scale than about solving operating conditions that standard regenerative or recuperative systems cannot address efficiently.

By Material

Carbon Steel

Carbon steel preheaters generated USD 2.5 billion in 2025 and are projected to reach USD 3.7 billion by 2035. Carbon steel remains commercially central where flue-gas chemistry is predictable and procurement is governed by cost per unit of heat-transfer performance. Its durability in mainstream boiler, cement, and industrial furnace applications preserves demand even as higher-specification materials gain share.

Stainless Steel

Stainless steel is projected to account for approximately 30% of market revenue by 2035 and is expected to grow at a CAGR of 5.2% (2026-2035). The material is gaining relevance in hygienic processing and corrosive operating environments, including food, pharmaceutical, and chemical applications. Its use increasingly reflects lifecycle and cleanability requirements rather than a simple premium-material choice.

Cast Iron

Cast iron preheater components generated USD 700 million in 2025 and are projected to account for approximately 10% of market revenue by 2035. Legacy furnace and boiler systems continue to sustain replacement demand, but the material faces a structural shift toward lighter and more corrosion-resistant alternatives. Modernization projects increasingly favor materials that reduce maintenance burden and accommodate changed combustion conditions.

Alloys (Nickel, Titanium & Others)

Alloy preheater configurations are projected to reach USD 1.1 billion by 2035 and are expected to grow at a CAGR of 6.3% (2026-2035). High-performance alloys are increasingly specified where hydrogen, biomass, sour-gas, or high-temperature duty creates corrosion and thermal-cycling risks. These applications favor suppliers able to combine material expertise with design, coating, sealing, and field-service capability.

Others (Composites, Ceramics & Advanced Materials)

Composite, ceramic, and other advanced materials represented approximately 5% of market revenue in 2025 and are projected to reach USD 500 million by 2035. These materials address niche operating conditions in high-temperature kilns, specialty reactors, and advanced process equipment. Commercial adoption will depend on qualification performance and the ability to demonstrate reliability through long operating cycles.

By Fuel Type

Coal

Coal-related applications generated USD 2.1 billion in 2025 and are projected to account for approximately 32% of market revenue by 2035. Coal remains an important source of installed-base replacement demand, especially in Asia. The segment's trajectory is increasingly regional: retirement-led contraction in mature markets contrasts with continued operating and retrofit needs in economies where thermal capacity remains central to power supply.

Natural Gas

Natural gas preheating systems are projected to generate USD 2.6 billion by 2035 and represented approximately 28% of market revenue in 2025. Gas-fired process and power applications offer a durable addressable base for tubular and recuperative systems. The segment is supported by industrial gas infrastructure, refining activity, and the relative compatibility of established equipment designs with gas-combustion conditions.

Oil

Oil-fired applications represented approximately 12% of market revenue in 2025 and are expected to grow at a CAGR of 2.2% (2026-2035). Refinery heaters and marine boiler systems preserve a replacement market, but slower refinery additions and fuel-transition pressures constrain expansion. Suppliers must compete on reliability, turnaround execution, and compatibility with existing process configurations.

Biomass & Waste

Biomass & waste preheating systems are projected to reach USD 1.3 billion by 2035 and are expected to grow at a CAGR of 8.3% (2026-2035). Biomass and waste combustion create demanding flue-gas conditions that favor corrosion-resistant surfaces and tailored sealing arrangements. The segment's growth is therefore associated with both equipment volume and a higher-value technical mix.

Hydrogen

Hydrogen-related preheating systems are projected to reach USD 500 million by 2035 and are expected to grow at a CAGR of 18.8% (2026-2035). The segment remains an emerging market, but it provides a meaningful technology pathway for suppliers with expertise in fuel-flexible combustion systems. Hydrogen blending and dedicated combustion projects create requirements that are materially different from conventional fossil-fuel applications.

Others (Syngas, Mixed & Alternative Fuels)

Other fuel applications represented approximately 10% of market revenue in 2025 and are projected to reach USD 700 million by 2035. Syngas and mixed-fuel systems remain relevant to gasification, steelmaking, and industrial utility applications. Their adoption is shaped by project-specific fuel availability and process integration rather than by a uniform global fuel-transition pattern.

By End Use

Power Generation

Power generation generated USD 2.1 billion in 2025 and is projected to account for approximately 34% of market revenue by 2035. The sector remains the deepest installed-base opportunity for preheater replacement and lifecycle services. Demand is supported by fleet maintenance, combustion upgrades, and fuel-transition projects, even as the mix of coal, gas, biomass, and hydrogen applications evolves.

Oil & Gas

Oil & gas applications are projected to generate USD 1.5 billion by 2035 and represented approximately 18% of end-use revenue in 2025. Refinery modernization, LNG-related infrastructure, and process-heating requirements support demand for robust fuel and air preheating systems. Reliability, material performance, and service responsiveness are decisive because downtime in these facilities carries a high operational cost.

Chemical & Petrochemical

Chemical & petrochemical applications generated USD 800 million in 2025 and are expected to grow at a CAGR of 6.6% (2026-2035). New-build complexes and energy-efficiency retrofits both support the segment. Operators increasingly assess heat-recovery equipment as part of a broader process-intensification strategy that combines energy performance, emissions control, and operating reliability.

Metal & Steel

Metal & steel applications are projected to generate USD 1.3 billion by 2035 and represented approximately 16% of market revenue in 2025. The segment is cyclical, but its long-term opportunity is linked to furnace upgrades and new industrial capacity in developing manufacturing economies. Suppliers will need to manage short-term order volatility while positioning for modernization projects that improve heat recovery and process efficiency.

Cement

Cement applications generated USD 500 million in 2025 and are projected to account for approximately 8% of market revenue by 2035. Preheater towers remain integral to kiln efficiency, making cement a technically important market despite uneven regional construction cycles. Demand is strongest where capacity expansion and clinker-line modernization occur alongside tighter energy and emissions requirements.

Food & Beverage

Food & beverage applications are projected to reach USD 400 million by 2035 and are expected to grow at a CAGR of 7.3% (2026-2035). Energy-cost management is becoming more important in high-throughput processing operations, while sanitation and material requirements favor hygienic recuperative and electric designs. Standardized systems can also make this segment more accessible through distributor-led channels.

Pharmaceutical

Pharmaceutical applications generated USD 100 million in 2025 and are expected to grow at a CAGR of 13.0% (2026-2035). Validated thermal control, clean operating conditions, and manufacturing expansion support a high-growth niche for electric and corrosion-resistant configurations. The segment rewards suppliers that can meet qualification, documentation, and uptime expectations.

Others (Pulp & Paper, Marine, Ceramics, Glass)

Other end uses represented approximately 2% of market revenue in 2025 and are projected to generate USD 100 million by 2035. These applications are fragmented but technically demanding, often requiring engineered products for distinct heat profiles, materials, and maintenance conditions. Their importance lies in specialty-margin opportunities rather than large-scale standardized demand.

By Distribution Channel

Direct Sales (OEM/Project-based)

Direct sales generated USD 4.1 billion in 2025 and are projected to account for approximately 70% of market revenue by 2035. The channel remains predominant because major preheater projects require custom engineering, performance guarantees, installation coordination, and lifecycle support. Direct OEM engagement is especially important for power plants, cement kilns, and complex process-industry facilities.

Indirect Sales (Distributors & Dealers)

Indirect sales are projected to generate USD 2.7 billion by 2035 and are expected to grow at a CAGR of 5.2% (2026-2035). Distributor and dealer channels are gaining relevance as modular products reduce lead times and simplify purchasing for smaller industrial users. This model can widen access to standardized equipment where a full project-based procurement process is uneconomic.

Preheater Market Regional Analysis

North America Preheater Market Analysis

The preheater market in North America generated USD 1.0 billion in 2025 and is projected to account for approximately 18.0% of global revenue by 2035.

The region's opportunity is concentrated in replacement, refinery and chemical modernization, and gas-fired infrastructure rather than broad greenfield industrial construction. Aging assets create a steady need for retrofit engineering, although project execution can be slowed by outage planning and site-specific integration requirements.

United States

The United States is projected to generate USD 1.3 billion by 2035 and is expected to grow at a CAGR of 4.8% (2026-2035).

Demand is supported by power-plant retrofits, Gulf Coast refining and chemical activity, and emerging fuel-flexibility projects. The market favors suppliers that can combine engineering depth with field service and lifecycle performance commitments.

Canada

Canada generated USD 200 million in 2025 and is projected to account for approximately 18.8% of North American revenue by 2035.

Oil sands processing, cogeneration, pulp and paper, and industrial heat applications provide the principal demand base. Procurement is shaped by reliability requirements in remote or operationally demanding facilities.

Europe Preheater Market Analysis

Europe is projected to generate USD 1.5 billion by 2035 and represented approximately 19.3% of global revenue in 2025.

The European preheater market is led by retrofit demand rather than large-scale capacity expansion. Industrial-emissions requirements reinforce the business case for combustion-system upgrades, while the revised Industrial Emissions Directive places Best Available Techniques at the center of permitting expectations ^{[2]European Commission. “Revised Industrial Emissions Directive Comes into Effect.” environment.ec.europa.eu}.

Germany

Germany generated USD 300 million in 2025 and is expected to grow at a CAGR of 3.5% (2026-2035). Its chemical, cement, and industrial-energy base supports recurring modernization work. Demand is likely to favour solutions compatible with gas, biomass, and hydrogen-related process changes.

United Kingdom

The United Kingdom is projected to generate approximately USD 200 million by 2035 and represented approximately 18.2% of European revenue in 2025. Demand is tied to the coal-to-gas transition, biomass combustion, and industrial efficiency upgrades. The market will increasingly reward retrofit solutions that can extend the productive life of existing thermal assets.

France

France represented approximately 9.1% of European revenue in 2025 and is expected to grow at a CAGR of 5.0% (2026-2035). Chemicals, cement, and petrochemicals provide the underlying demand base. Efficiency investment and industrial heat-management projects create a more favorable outlook than the region's mature industrial profile might suggest.

Italy

Italy represented approximately 9.1% of European revenue in 2025 and is projected to account for approximately 13.3% by 2035. Ceramics, glass, and specialty chemicals provide concentrated end markets for engineered recuperative systems. The country's industrial clusters support demand for application-specific thermal-recovery equipment.

Spain

Spain generated approximately USD 100 million in 2025 and is expected to grow at a CAGR of 2.5% (2026-2035). Cement, ceramics, and industrial chemicals remain the primary sources of demand. The market's measured growth reflects a transition toward lower-carbon energy systems and a selective pace of industrial investment.

Netherlands

The Netherlands represented approximately 9.1% of European revenue in 2025 and is projected to account for approximately 6.7% by 2035.

The Rotterdam industrial complex remains an important demand center, particularly for refining and petrochemical applications. Lower-carbon process transitions may favour equipment upgrades over broad volume expansion.

Poland

Poland represented approximately 9.1% of European revenue in 2025 and is projected to account for approximately 6.7% by 2035. Coal-related retrofit activity and heavy-industry modernization underpin demand. The timing of fleet retirement and emissions-compliance investment will determine the pace at which the installed base converts into replacement orders.

Rest of Europe

Rest of Europe generated approximately USD 100 million in 2025 and is expected to grow at a CAGR of 5.5% (2026-2035). Cement, chemical, and biomass projects across Central, Eastern, and Northern Europe provide a diverse pool of opportunities. Suppliers with regional service coverage can benefit from a fragmented but technically active retrofit landscape.

Asia Pacific Preheater Market Analysis

The preheater market in Asia Pacific generated USD 2.4 billion in 2025 and is projected to account for approximately 44.9% of global revenue by 2035. Asia Pacific combines the world's largest installed bases of coal-fired power, cement, and steel equipment with sustained industrial expansion in India and Southeast Asia. India's target to reach 500 GW of non-fossil fuel-based power capacity by 2030 ^{[3]Government of India, Press Information Bureau. “500 GW Non Fossil Capacity by 2030, Net Zero Emissions by 2070.” pib.gov.in} is channeling investment into new plant construction and efficiency upgrades across the region. This mix creates both greenfield procurement and replacement demand, making Asia Pacific central to global volume growth.

China

China generated USD 1.0 billion in 2025 and is projected to account for approximately 37.5% of Asia Pacific revenue by 2035. Power generation, cement, and steel provide an extensive installed base for both new equipment and retrofit programs. Growth is moderating as industrial expansion matures, but efficiency upgrades and process modernization continue to support demand.

India

India is projected to generate USD 900 million by 2035 and is expected to grow at a CAGR of 8.7% (2026-2035). The market is supported by continuing development in power, cement, steel, chemicals, and pharmaceutical manufacturing. Its industrial buildout creates opportunities for both conventional high-capacity systems and advanced configurations suited to evolving fuel and efficiency requirements.

Japan

Japan generated USD 300 million in 2025 and is projected to account for approximately 10.0% of Asia Pacific revenue by 2035. The market is mature but technologically important, particularly in high-efficiency combustion and fuel-transition applications. Suppliers are likely to compete through advanced materials, reliability, and integration with hydrogen-related projects.

South Korea

South Korea is projected to generate USD 300 million by 2035 and represented approximately 8.3% of Asia Pacific revenue in 2025. Petrochemicals, LNG-related infrastructure, and steel modernization provide the key demand sources. Emerging clean-energy projects may increasingly require preheating equipment designed for altered combustion conditions.

Australia

Australia represented approximately 4.2% of Asia Pacific revenue in 2025 and is expected to grow at a CAGR of 7.3% (2026-2035). LNG infrastructure and downstream minerals processing support demand for reliable fuel and process preheating systems. The market also offers opportunities where industrial projects require high-performance equipment in remote operating environments.

Southeast Asia

Southeast Asia is projected to generate USD 600 million by 2035 and represented approximately 12.5% of Asia Pacific revenue in 2025. Industrial expansion across Vietnam, Indonesia, and Thailand is supporting greenfield procurement in power, cement, and chemicals. The region's importance stems from project velocity and the breadth of new industrial capacity entering operation.

Rest of Asia Pacific

Rest of Asia Pacific generated USD 100 million in 2025 and is projected to account for approximately 2.5% of Asia Pacific revenue by 2035. The subregion encompasses smaller but growing industrial markets where standardized and modular equipment can lower the barriers to adoption. Demand will be sensitive to infrastructure investment and financing conditions.

Latin America Preheater Market Analysis

Latin America is projected to generate USD 900 million by 2035 and represented approximately 10.5% of global revenue in 2025. The region's demand is anchored in bioenergy, cement, petrochemicals, mining, and oil and gas processing. Macro-economic volatility and financing constraints can delay projects, but energy-intensive industrial sectors continue to require efficiency and reliability upgrades.

Mexico

Mexico is projected to generate USD 300 million by 2035 and represented approximately 33.3% of Latin American revenue in 2025. Cement, petrochemicals, and manufacturing investment support demand, particularly in industrial corridors benefiting from nearshoring. Suppliers that can provide dependable service and shorter delivery cycles have a competitive advantage.

Brazil

Brazil generated USD 200 million in 2025 and is expected to grow at a CAGR of 7.3% (2026-2035). Sugar-cane biomass cogeneration and steel capacity investment provide the principal demand drivers. Corrosion-resistant equipment is particularly relevant to bagasse-fired systems with challenging exhaust chemistry.

Argentina

Argentina represented approximately 16.7% of Latin American revenue in 2025 and is expected to grow at a CAGR of 0.6% (2026-2035). Oil and gas processing provides the primary demand base, but the market remains constrained by the availability and timing of industrial investment. Project economics and financing conditions will remain decisive.

Rest of Latin America

Rest of Latin America represented approximately 11.1% of regional revenue by 2035 and generated approximately USD 100 million in 2025. Cement, mining, and industrial-processing facilities in countries such as Colombia, Chile, and Peru create a dispersed demand base. Opportunities are likely to be project-led and dependent on local service availability.

Middle East & Africa Preheater Market Analysis

The preheater market in the Middle East & Africa generated USD 500 million in 2025 and is expected to grow at a CAGR of 5.9% (2026-2035). The region combines petrochemical investment, gas-fired power development, refinery modernization, cement construction, and emerging clean-energy projects. Greenfield activity gives suppliers an advantage where they can provide complete engineering support and rapid project execution.

Saudi Arabia

Saudi Arabia generated USD 200 million in 2025 and is expected to grow at a CAGR of 3.9% (2026-2035). Refining, petrochemicals, gas-fired power, and industrial-diversification projects form the core demand base. Large projects favour established suppliers with strong execution records and the ability to support lifecycle service requirements.

UAE

The UAE is projected to generate USD 200 million by 2035 and is expected to grow at a CAGR of 7.3% (2026-2035). Downstream industrial expansion, petrochemical development, and hydrogen-related initiatives create demand for advanced preheating systems. The market's growth is linked to high-value industrial projects rather than broad-based replacement activity.

South Africa

South Africa represented approximately 20.0% of Middle East & Africa revenue in 2025 and is expected to grow at a CAGR of 0.6% (2026-2035). Coal-fired power, steel, and chemicals remain important end markets, but operational and investment constraints limit modernization momentum. Suppliers face a market defined by an installed base with uneven capacity to fund upgrades.

Rest of Middle East & Africa

Rest of Middle East & Africa is projected to account for approximately 33.3% of regional revenue by 2035 and generated approximately USD 100 million in 2025. Cement, fertilizer, refining, petrochemical, and power projects across the wider region provide a broad greenfield pipeline. Market access will depend on local partnerships, project-finance conditions, and the capacity to meet site-specific engineering needs.

Preheater Market Share & Competitive Landscape

The preheater market share landscape remains fragmented, with the top five suppliers collectively accounting for approximately 30% of global preheater market revenue in 2025, while other participants represented approximately 70%. Competitive outcomes are shaped by application engineering, installed-base access, service capability, local manufacturing, and the ability to meet performance guarantees on complex projects.

ARVOS Group (LJUNGSTROM)

ARVOS Group held approximately 8.0% of global revenue in 2025. LJUNGSTROM retains a strong position in rotary regenerative air preheaters, particularly for utility-scale applications. Its competitive advantage is tied to installed-base relationships, lifecycle service, and engineering familiarity with demanding power-sector operating conditions.

Fuller Technologies

Fuller Technologies held approximately 7.0% of global revenue in 2025. The company's presence in industrial air preheating and furnace applications is supported by OEM relationships and technical service capabilities. It competes most effectively where customers value application knowledge and dependable retrofit execution.

Howden

Howden held approximately 6.0% of global revenue in 2025. Howden's position is reinforced by its broader air- and gas-handling capabilities, which can support integrated combustion and heat-recovery solutions. Its placement within a larger industrial energy platform may strengthen cross-selling opportunities in carbon capture, gas infrastructure, and thermal-management projects.

thyssenkrupp Polysius

thyssenkrupp Polysius holds an important position in cement preheater systems, where multi-cyclone towers are integral to rotary-kiln process efficiency. Its competitive standing is based on cement-process expertise, global project experience, and modernization services. Decarbonization and alternative-fuel adoption are increasing the value of suppliers that can combine preheater design with broader kiln-line optimization.

Sinoma International Engineering

Sinoma International Engineering is a significant participant in cement-related preheater demand through EPC activity across Asia, the Middle East, and Africa. Its competitive strength reflects its role in integrated cement-plant delivery, where cyclone preheater systems are supplied as part of broader construction packages. This model can be especially effective in greenfield markets where customers prioritize coordination, schedule control, and turnkey execution.

Beyond the leading suppliers, KHD Humboldt Wedag, Babcock & Wilcox, Alfa Laval, Mitsubishi Power / MHI, ANDRITZ, and GEA Group compete across power, chemicals, food processing, and energy-recovery applications. Regional players, including BHEL, Dongfang Boiler Group, Harbin Boiler Company, Kelvion, and Thermax, benefit from domestic manufacturing, local service networks, and established procurement relationships. Emerging suppliers are targeting modular, electrified, and specialty applications where standardization can reduce the cost and complexity of adoption.

Recent Industry Developments

Baker Hughes completed its acquisition of Chart Industries on July 16, 2026, bringing Howden's air- and gas-handling capabilities into a broader industrial energy portfolio ^{[6]Baker Hughes. “Baker Hughes Completes Acquisition of Chart Industries.” investors.bakerhughes.com}. The transaction may strengthen the company's ability to package heat recovery, compression, process heating, and related lifecycle services for customers pursuing integrated energy and decarbonization projects.

Sinoma Overseas reached a construction milestone at the UQNCC cement project in Iraq in January 2026, topping out the project's preheater tower ^{[7]CemNet / ICR Newsroom. “Sinoma Overseas Tops Out Preheater Tower in Iraq.” cemnet.com}. The development illustrates continued cement-project activity in the Middle East and the role of EPC suppliers in translating regional capacity investment into demand for integrated preheater systems.