Data Bridge Market Research analyses that the waste heat recovery system market was valued at USD 64.87 billion in 2021 and is expected to reach USD 132.13 by 2029, registering a CAGR of 9.30% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Waste heat is the energy which is generated in the commercial sectors or other industries, and this heat goes to waste instead of re-utilization. Many companies are using effective methods to harvest this energy in use in upcoming period. They are utilizing heat recovery systems to decrease energy loss and using it efficiently. Several heat recovery methods are used for recycling energy due to this, the demand for the waste heat recovery technology is growing.
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Some of the major players operating in the waste heat recovery system market are:
- Alstom (France)
- ABB (Switzerland)
- John Wood Group PLC (U.K.)
- Or mat Technologies Inc. (U.S.)
- General Electric (U.S.)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Echogenic Power Systems Inc. (U.S.)
- Eonothem Limited (U.K.)
- Thermax Limited (India)
- Siemens (Germany)
- Cool Energy Inc. (U.S.)
- DEC (China)
- Harbin Electric Corporation co.Ltd. (China)
- BIHL (U.K.)
Global Waste Heat Recovery System Market Scope:
Global waste heat recovery system market is segmented on the basis of application, end-user industry, temperature, technology and type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Preheating
- Steam & Electricity Generation
- Recuperators, Regenerators
- Rotary Heat Exchangers
- Heat Pumps
- Economizers
- Other Application
End-User Industry
- Petroleum Refining
- Meta Production
- Cement
- Chemical
- Paper & Pulp
- Others
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Waste Heat Recovery System Market Regional Analysis/Insights:
The waste heat recovery system market is analysed and market size insights and trends are provided by country, application, end- user industry, temperature, technology and type as referenced above.
The countries covered in the waste heat recovery system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the waste heat recovery system market in terms of revenue and market share. This is due to the increasing initiatives undertaken by the European Union to form energy through waste and growing awareness regarding WHR systems in this region.
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