Waste Heat Recovery System Market Scope
The Waste Heat Recovery System Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, politics, society, law, and the environment. The waste heat recovery market size is expected to grow from USD 72.5 billion in 2022 to USD 102.1 billion by 2027 at a compound annual growth rate (CAGR) of 7.1% during the forecast period.
The market includes news and updates about the market current situation, historic data, present market trends, and this factor which is valuable and supportive to the business. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis. The report aims to supply a further illustration of the newest scenario, economic slowdown, and COVID-19 impact on the overall industry.
Waste Heat Recovery System Market Key Players
- ABB Ltd. (Switzerland)
- Amec Foster Wheeler (U.K.)
- Ormat Technologies Inc. (U.S.)
- General Electric Co. (U.S.)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Echogen Power Systems Inc. (U.S.)
- Econotherm Ltd. (U.K.)
- Thermax Limited (India)
- Siemens AG (Germany)
- Cool Energy Inc. (Colorado)
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Waste Heat Recovery System Market Key Points:
- Define, describe, and forecast waste heat recovery system market by material, application, end use and region.
- Provide enterprise external environment analysis and SWOT analysis.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyse the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Waste Heat Recovery System Market Segmentation
WHR system market Segmented on the basis of application, end-use industries, and region.
WHRS Market, by Application:
- Steam & electricity generation
- Space heating
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WHRS Market, by End-use Industries:
- Petroleum refining
- Metal production
- Paper & pulp
- Food & Beverage
- Primary metal refining
WHRS Market, by Region:
- North America
- Middle East & Africa
- South America
Steam & electricity generation segment accounts for the largest share in WHRS market
The WHRS market is segmented based on application into preheating, steam & electricity generation, and others. In 2015, the steam & electricity generation application segment captured the maximum share of the overall market; it is also expected to witness the highest CAGR during the forecast period. Steam & electricity generation is a significant application of the recovered waste heat because of the growing demand for energy in both developed and developing economies. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application.
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Growing demand from cement industry to boost the WHR system market
The major end-use industries of the WHR system are petroleum refining, metal production, cement, chemical, paper & pulp, and others. The demand for WHRS in the cement industry is projected to register the highest CAGR during the forecast period. The global cement industry is projected to register a CAGR of 9% from 2016 to 2021. The growth in this industry is backed by increasing investments in various developing countries worldwide, increasing per capita income, and economic growth. The construction sector of developing countries such as China, India, and Indonesia is growing rapidly, especially in terms of social and education, healthcare, retail, and residential construction. These factors will also play a crucial role in driving the demand for WHRS in the cement industry.
Europe: The largest market in WHRS
The WHR system market is broadly segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe is the largest WHR system market, closely followed by North America, in terms of value. Government and environmental organizations in various countries such as the U.S. and European Union have adopted stringent legislations on energy saving and energy efficiency. Even the government in developing regions such as Asia-Pacific and South America are formulating stringent regulations for environment protection. These stringent energy efficiency regulations are driving the use of WHRS in various manufacturing-oriented industries.
The target audiences for the WHRS market report are as follows:
- WHR system manufacturers
- WHR system dealers
- WHR system suppliers
- End users
- Raw material suppliers and others
Table of Contents:
- Executive Summary
- Scope/opportunities of the Waste Heat Recovery System Market Report
- Research Methodology
- Waste Heat Recovery System Market Landscape
- SWOT Analysis
- Market Sizing
- Waste Heat Recovery System Market Segmentation
- Customer Landscape
- Regional Landscape
- Business Decision Framework
- Drivers And Challenges
- Waste Heat Recovery System Market Key Trends
- Players Landscape
- Players Analysis
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