The Waste Heat Recovery System Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Application (Steam and Power Generation, Pre-Heating), End-User (Petroleum Refining, Chemical, Metal Production and Casting, Paper and Pulp, Others).
Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Waste Heat Recovery System industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most Waste Heat Recovery System companies. The Waste Heat Recovery System demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Waste Heat Recovery System industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.
In the waste heat recovery system market, there's a trend towards capturing and utilizing industrial waste heat for energy generation and process efficiency. Innovations in heat exchangers, organic Rankine cycle systems, and thermoelectric generators are prevalent trends. Additionally, the adoption of waste heat recovery systems for improving industrial energy efficiency, reducing carbon emissions, and lowering operational costs is gaining traction. Moreover, advancements in waste heat utilization technologies, integration with industrial processes, and waste heat-to-power conversion are shaping the market.
Key drivers stimulating the waste heat recovery system market include the need for energy conservation, regulatory emphasis on energy efficiency, and cost savings in industrial operations. Waste heat recovery systems offer advantages such as increased energy output, reduced fuel consumption, and enhanced sustainability, driving their adoption across various industries. Moreover, technological advancements in heat recovery techniques, waste heat identification, and system optimization contribute significantly to market growth.
Opportunities in the waste heat recovery system market lie in expanding waste heat utilization and promoting efficient heat recovery solutions. Collaboration among technology providers, industrial manufacturers, and energy consultants offers significant growth prospects. Moreover, investing in research and development for advanced heat recovery systems, waste heat mapping technologies, and waste heat-to-value applications can unlock new avenues for market expansion. Exploring emerging markets with energy-intensive industries and promoting the benefits of waste heat recovery for resource conservation can further drive market growth and facilitate the widespread adoption of waste heat recovery technologies.
Waste Heat Recovery Systems capture and utilize heat produced as a byproduct of industrial processes or machinery. These systems convert waste heat into usable energy, reducing energy consumption and improving overall efficiency in various industrial sectors.
Application
• Steam and Power Generation
• Pre-Heating
End-User
• Petroleum Refining
• Chemical
• Metal Production and Casting
• Paper and Pulp
• Others
By Region
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)
• ABB Ltd.
• Alstom SA
• Amec Foster Wheeler
• China Energy Recovery Inc.
• Cool Energy, Inc.
• Econotherm Ltd.
• Foster Wheeler AG
• General Electric Company
• Mitsubishi Heavy Industries, Ltd.
• Ormat Technologies Inc.
• Siemens Aktiengesellschaft
• Thermax Limited
• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions
• Gain access to detailed insights on the Waste Heat Recovery System market, encompassing current market size, growth trends, and forecasts till 2030.
• Access detailed competitor analysis, enabling competitive advantage through a thorough understanding of market players, strategies, and potential differentiation opportunities
• Stay ahead of the curve with insights on technological advancements, innovations, and upcoming trends
• Identify lucrative investment avenues and expansion opportunities within the Waste Heat Recovery System industry, guided by robust, data-backed analysis.
• Understand regional and global markets through country-wise analysis, regional market potential, regulatory nuances, and dynamics
• Execute strategies with confidence and speed through information, analytics, and insights on the industry value chain
• Corporate leaders, strategists, financial experts, shareholders, asset managers, and governmental representatives can make long-term planning scenarios and build an integrated and timely understanding of market dynamics
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TABLE OF CONTENTS
1 INTRODUCTION TO 2024 Waste Heat Recovery System MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 EXECUTIVE SUMMARY
3.1 Global Waste Heat Recovery System Market Size Outlook, $ Million, 2021 to 2030
3.2 Waste Heat Recovery System Market Outlook by Type, $ Million, 2021 to 2030
3.3 Waste Heat Recovery System Market Outlook by Product, $ Million, 2021 to 2030
3.4 Waste Heat Recovery System Market Outlook by Application, $ Million, 2021 to 2030
3.5 Waste Heat Recovery System Market Outlook by Key Countries, $ Million, 2021 to 2030
4 MARKET DYNAMICS
4.1 Key Driving Forces of Waste Heat Recovery System Industry
4.2 Key Market Trends in Waste Heat Recovery System Industry
4.3 Potential Opportunities in Waste Heat Recovery System Industry
4.4 Key Challenges in Waste Heat Recovery System Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Waste Heat Recovery System Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 GLOBAL Waste Heat Recovery System MARKET OUTLOOK BY SEGMENTS
7.1 Waste Heat Recovery System Market Outlook by Segments
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
8 NORTH AMERICA Waste Heat Recovery System MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Waste Heat Recovery System Markets in 2024
8.2 North America Waste Heat Recovery System Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Waste Heat Recovery System Market size Outlook by Segments, 2021-2030
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
9 EUROPE Waste Heat Recovery System MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Waste Heat Recovery System Markets in 2024
9.2 Europe Waste Heat Recovery System Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Waste Heat Recovery System Market size Outlook by Segments, 2021-2030
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
10 ASIA PACIFIC Waste Heat Recovery System MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Waste Heat Recovery System Markets in 2024
10.2 Asia Pacific Waste Heat Recovery System Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Waste Heat Recovery System Market size Outlook by Segments, 2021-2030
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
11 SOUTH AMERICA Waste Heat Recovery System MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Waste Heat Recovery System Markets in 2024
11.2 South America Waste Heat Recovery System Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Waste Heat Recovery System Market size Outlook by Segments, 2021-2030
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
12 MIDDLE EAST AND AFRICA Waste Heat Recovery System MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Waste Heat Recovery System Markets in 2024
12.2 Middle East and Africa Waste Heat Recovery System Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Waste Heat Recovery System Market size Outlook by Segments, 2021-2030
Application
- Steam and Power Generation
- Pre-Heating
End-User
- Petroleum Refining
- Chemical
- Metal Production and Casting
- Paper and Pulp
- Others
13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- ABB Ltd.
- Alstom SA
- Amec Foster Wheeler
- China Energy Recovery Inc.
- Cool Energy, Inc.
- Econotherm Ltd.
- Foster Wheeler AG
- General Electric Company
- Mitsubishi Heavy Industries, Ltd.
- Ormat Technologies Inc.
- Siemens Aktiengesellschaft
- Thermax Limited
14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
Waste Heat Recovery Systems capture and utilize heat produced as a byproduct of industrial processes or machinery. These systems convert waste heat into usable energy, reducing energy consumption and improving overall efficiency in various industrial sectors.
Application
• Steam and Power Generation
• Pre-Heating
End-User
• Petroleum Refining
• Chemical
• Metal Production and Casting
• Paper and Pulp
• Others
By Region
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)
The global Waste Heat Recovery System Market is one of the lucrative growth markets, poised to register a 9.8% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
ABB Ltd., Alstom SA, Amec Foster Wheeler, China Energy Recovery Inc., Cool Energy, Inc., Econotherm Ltd., Foster Wheeler AG, General Electric Company, Mitsubishi Heavy Industries, Ltd., Ormat Technologies Inc., Siemens Aktiengesellschaft, Thermax Limited,
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume