Global Waste Heat Recovery System Market is estimated to reach $91.3 billion by 2024; growing at a CAGR of 8.8% from 2016 to 2024. A waste heat recovery is a process of energy recovery, that recovers heat from hot water or fluid streams with possible high energy content, including steam from cooling towers or hot flue gases from a diesel generator or even waste fluid or water from different cooling procedures such as in steel cooling. It can be considered as the process of collection of heat generated as a by-product of the operation of a piece of machinery or equipment to fill a required purpose elsewhere. The technique is among the most economical or cost-effective way to upsurge the overall efficiency of the plant, while lowering fuel demand.
Global Waste Heat Recovery System Market Size and Forecast, 2015 - 2024 (US$ Billion)
Increased government initiatives and stringent regulations, increasing energy and electricity cost, technological advancements and increasing investment, and rapid industrialization are the major factors leading to growth of the waste heat recovery system market. Factors such as, high cost of installation and lack of awareness are restricting the market growth. Emerging economies are expected to provide high growth potential for the market in the coming years, due to increasing demand for re-using the heat energy.
The global waste heat recovery system market has been segmented into application, end-user, and geography. On the basis of application, market has been divided into steam and power generation, pre-heating, and other applications. On the basis of end-user, the market has been segmented as petroleum refining, chemical, cement, metal production and casting, natural gas compression, paper and pulp, and other end-users.
Global Waste Heat Recovery System Market by Application, 2016 Vs 2024
Based on geography, global waste heat recovery system market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
Global waste heat recovery market Regional Revenue % (2016 Vs 2024)
The key players operating in the market are General Electric Co., ABB (ASEA Brown Boveri), Amec Foster Wheeler Plc., Thermax Limited, Ormat Technologies Inc., Siemens AG, Mitsubishi Heavy Industries Ltd., Echogen Power Systems Inc., Econotherm Limited., and Cool Energy Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of Waste Heat Recovery System Market with respect to major segments such as application, and end-user
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Waste Heat Recovery System Market has been included in the report
- Profile of the key players in the Waste Heat Recovery System Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Waste Heat Recovery System Market
- Steam and Power Generation
- Other Applications
- Petroleum Refining
- Metal Production and Casting
- Natural Gas Compression
- Paper and Pulp
- Other End-Users
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East
Global Waste Heat Recovery Market Primary Interviews by Geography