Waste Heat Recovery System Market Insights on Scope and Growing Demands 2030

Waste Heat Recovery System Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Waste Heat Recovery System Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Waste Heat Recovery System market by thorough analysis, and projections are made up to 2030.

Waste Heat Recovery System Market CAGR Estimation:

Waste Heat Recovery System Market size was valued at USD 70.83 Bn. in 2023 and the total Waste Heat Recovery System revenue is expected to grow by 7% from 2024 to 2030, reaching nearly USD 113.8 Bn.

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Waste Heat Recovery System Market Scope and Methodology:

The study provides an extensive understanding of the details of the Waste Heat Recovery System industry using both qualitative and quantitative analysis. The Waste Heat Recovery System market was estimated using a bottom-up methodology. Both primary and secondary data gathering techniques were used to get the information needed for the analysis. Several techniques, including questionnaires and surveys, are employed in the primary method's data collection procedure. In addition to commercial sources like Bloomberg News and the database Hoovers for data collection, secondary sources include articles, government publications, and annual reports.

The condition of market consolidations and acquisitions, R&D activities, advancement, cutting-edge industry techniques, and buyer direct are all carefully examined in the study in order to evaluate the market prediction. Methods, organizational charts, portfolios, and a critical assessment of prominent business leaders are all included in the research. The Waste Heat Recovery System market an extensive SWOT analysis and PESTLE study of doors were carried out to ascertain market trends and current microeconomic variables.

Waste Heat Recovery System Market Regional Insights:

Gaining an in-depth understanding of regional viewpoints is necessary to comprehend the intricate dynamics of the Waste Heat Recovery System market. The numerous regions that comprise the Waste Heat Recovery System market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The study offers a comprehensive analysis of the factors, market size, growth rate, and volume of imports and exports in every area. The Regional Analysis section displays the current status of the Waste Heat Recovery System market in each of the countries covered in the research.

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Waste Heat Recovery System Market Segmentation:

by Technology

Steam Rankine Cycle Systems

Organic Rankine Cycle Systems

Kalina Cycle Systems

Thermoelectric Generators

Others

by Application

Preheating

Steam and Electricity Generation

Power Generation

Other

Power and steam generation was the waste heat recovery system market's most popular application category, owing to increased global demand. WHRS will be used more frequently for power and steam generation as a result of rising electricity costs and continued attempts to reduce greenhouse gas emissions. The segment is growing as a result of growing demand for on-site power generation and an emphasis on plant efficiency.

Between 2024 and 2030, preheating is anticipated to develop at the quickest rate of any application category. The main applications of waste heat recovery systems are space heating, boiler feed water, furnace loading, and combustion air preheating. The WHR cascade mechanism is driving up demand for the goods. In order to reduce operating costs and boost overall efficiency, the system uses a high-temperature stage for air pre-heating and a low-temperature stage for processing feedwater heating.

by End User

Petroleum Refining

Metal Manufacturing

Cement Industry

Chemical Industry

Oil & Gas Industry

Paper & Pulp

Textile

The waste heat recovery system market share that was largest in 2023 belonged to the petroleum refinery category. As drilling activities rise, it is anticipated to grow at the quickest compound annual growth rate (CAGR) during the projected period. This industry uses WHR systems for processes like catalytic treatment, thermal cracking, and refinement.

It is anticipated that numerous government programs targeted at reducing energy expenses and preserving energy will propel the industry even further. Waste heat recovery system market growth is anticipated to be further supported by rising demand for WHRS in sectors such petroleum refineries, pulp and paper, heavy metals, petrochemicals, and chemicals for pre-heating, electricity generation, and steam generation. Owing to the building industry's explosive expansion, the cement end-user market is anticipated to rise dramatically.

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Waste Heat Recovery System Market Key Players:

1. General Electric Company (US)

2. Cool Energy Inc.(US)

3. General Electric Co. (US)

4. Echogen Power Systems Inc. (US)

5. Promec Engineering (US)

6. Ormat Technologies (US)

Europe

1. Amec Foster Wheeler (UK) (Now part of Wood Plc)

2. Boustead International Heaters (UK)

3. Siemens AG (Germany)

4. ABB Ltd. (Switzerland)

Asia Pacific

1. Harbin Electric International Company Ltd (China)

2. Dongfang Electric Corporation (China)

3. China Energy Recovery (China)

4. Mitsubishi Hitachi Power Systems (Japan)

5. Mitsubishi Heavy Industries Ltd. (Japan)

6. Endotherm Ltd. (India)

7. Thermax Limited (India)

8. Forbes Marshall (India)

Africa

1. Terrapin (South Africa)

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Key questions answered in the Waste Heat Recovery System Market are:

What is Waste Heat Recovery System?

Who are the leading companies and what are their portfolios in Waste Heat Recovery System Market?

What growth strategies are the players considering to increase their presence in Waste Heat Recovery System?

What are the upcoming industry applications and trends for the Waste Heat Recovery System Market?

Which are the factors expected to drive the Waste Heat Recovery System market growth?

What are the recent industry trends that can be implemented to generate additional revenue streams for the Waste Heat Recovery System Market?

What was the Waste Heat Recovery System market size in 2023?

What are the different segments of the Waste Heat Recovery System Market?

What will be the CAGR at which the Waste Heat Recovery System market will grow?

What is the growth rate of the Waste Heat Recovery System Market?

What segments are covered in the Waste Heat Recovery System Market?

What are the key challenges and opportunities in the Waste Heat Recovery System market?

Which application holds the highest potential in the Waste Heat Recovery System market?

Who are the key players in the Waste Heat Recovery System market?

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2023)

Past Pricing and price curve by region (2018 to 2023)

Market Size, Share, Size & Forecast by different segment | 2024−2030

Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

Market Segmentation – A detailed analysis by segment with their sub-segments and Region

Competitive Landscape – Profiles of selected key players by region from a strategic perspective

Competitive landscape – Market Leaders, Market Followers, Regional player

Competitive benchmarking of key players by region

PESTLE Analysis

PORTER’s analysis

Value chain and supply chain analysis

Legal Aspects of Business by Region

Lucrative business opportunities with SWOT analysis

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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