Waste Heat Recovery System Market Growth, Share, Key manufacturers, Trends and Future Scope
Waste Heat Recovery System Market Size- By Application, By End-User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Feb-2023 | Report ID: POAE2313 | Pages: 1 - 224 | Formats*: |
| Category : Power & Energy | |||
Global Waste Heat Recovery System Market Overview
According to SPER Market Research, the Global Waste Heat Recovery System Market is estimated to reach USD 167.27 billion by 2032 with a CAGR of 9.04%.
The Waste Heat Recovery System (WHRS) market refers to the collection and utilization of industrial heat that is otherwise lost as a byproduct of various processes. This heat energy can be captured and transformed into useful energy, such as electricity or steam, providing a cost-effective and environmentally friendly solution for energy generation. The market for WHRS is driven by factors such as increasing energy prices, stringent government regulations on energy efficiency, and the growing awareness of the need for sustainable energy solutions. The market is composed of various products, such as heat exchangers, boilers, and turbines, which are used in a range of industries, including chemical, oil and gas, and power generation. The global market for WHRS is expected to grow significantly in the coming years, driven by the increasing demand for energy efficiency and the need to reduce greenhouse gas emissions.
Impact of COVID-19 on the Global Waste Heat Recovery System Market
The COVID-19 pandemic has had an impact on the waste heat recovery system market, similar to other industries. The pandemic has caused widespread economic disruption, reducing demand for waste heat recovery systems as investment and spending on industrial projects decreased. The pandemic has also disrupted supply chains, causing difficulties for waste heat recovery system providers in terms of securing raw materials and maintaining production levels.
However, despite these challenges, the long-term outlook for the waste heat recovery system market remains positive. As the world begins to recover from the pandemic and economic activity resumes, demand for waste heat recovery systems is expected to pick up, driven by growing concerns about energy efficiency and reducing carbon emissions. The government has taken steps to support the sector, such as increasing investment in clean energy projects and promoting the adoption of sustainable technologies. Additionally, the pandemic has accelerated the adoption of digital technologies, creating new opportunities for waste heat recovery system providers to improve their operations and better meet the needs of their customers.In conclusion, while the COVID-19 pandemic has had a short-term impact on the waste heat recovery system market, the sector is expected to recover and continue to grow in the coming years as the focus on energy efficiency and sustainability remains a priority.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Application, By End-User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | General Electric, ABB, Boustead International Heaters, Forbes Marshall, Terrapin, Climeon, Bosch Industriekessel GmbH, AURA GmbH & Co., Exergy S.p.A. |
Global Waste Heat Recovery System Market Segmentation:
1. By Application:
- Pre Heating
- Steam & Electricity Generation
- Others
2. By End-User:
- Petroleum Refinery
- Power
- Cement
- Chemical
- Metal Production
- Pulp & Paper
3. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Waste Heat Recovery System Market (FY’2019-FY’2032)
- Overview of Global Waste Heat Recovery System Market
- Segmentation of Global Waste Heat Recovery System Market By Application(Pre-Heating, Steam & Electricity Generation, Others)
- Segmentation of Global Waste Heat Recovery System Market By End-User(Petroleum Refinery, Power, Cement, Chemical, Metal Production, Pulp & Paper, Others)
- Statistical Snap of Global Waste Heat Recovery System Market
- Growth Analysis of Global Waste Heat Recovery System Market
- Problems and Challenges in Global Waste Heat Recovery System Market
- Competitive Landscape in the Global Waste Heat Recovery System Market
- Impact of COVID-19 and Demonetization on Global Waste Heat Recovery System Market
- Details on Recent Investment in Global Waste Heat Recovery System Market
- Competitive Analysis of Global Waste Heat Recovery System Market
- Major Players in the Global Waste Heat Recovery System Market
- SWOT Analysis of Global Waste Heat Recovery System Market
- Global Waste Heat Recovery System Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges4.2. COVID-19 Impacts of the Global Waste Heat Recovery System Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Waste Heat Recovery System Market Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Waste Heat Recovery System Market
7. Global Waste Heat Recovery System Market, By Application, 2019-2032 (USD Million)
7.1 Pre Heating7.2 Steam & Electricity Generation7.3 Others
8. Global Waste Heat Recovery System Market, By End-User, 2019-2032 (USD Million)
8.1 Petroleum Refinery8.2 Power8.3 Cement8.4 Chemical8.5 Metal Production8.6 Pulp & Paper8.7 Others
9. Global Waste Heat Recovery System Market, By Region, 2019-2032 (USD Million)
9.1 Global Waste Heat Recovery System Market Size and Market Share by Region (2019-2025)9.2 Global Waste Heat Recovery System Market Size and Market Share by Region (2026-2032)9.3 Asia-Pacific9.3.1 Australia9.3.2 China9.3.3 India9.3.4 Japan9.3.5 South Korea9.3.6 Rest of Asia-Pacific9.4 Europe9.4.1 France9.4.2 Germany9.4.3 Italy9.4.4 Spain9.4.5 United Kingdom9.4.6 Rest of Europe9.5 Middle East and Africa9.5.1 Kingdom of Saudi Arabia9.5.2 United Arab Emirates9.5.3 Rest of Middle East & Africa9.6 North America9.6.1 Canada9.6.2 Mexico9.6.3 United States9.7 Latin America9.7.1 Argentina9.7.2 Brazil9.7.3 Rest of Latin America
10. Company Profiles
10.1 ABB10.1.1 Company details10.1.2 Financial outlook10.1.3 Product summary10.1.4 Recent developments10.2 AURA GmbH & Co.10.2.1 Company details10.2.2 Financial outlook10.2.3 Product summary10.2.4 Recent developments10.3 Bosch Industriekessel GmbH10.3.1 Company details10.3.2 Financial outlook10.3.3 Product summary10.3.4 Recent developments10.4 Boustead International Heaters10.4.1 Company details10.4.2 Financial outlook10.4.3 Product summary10.4.4 Recent developments10.5 Climeon10.5.1 Company details10.5.2 Financial outlook10.5.3 Product summary10.5.4 Recent developments10.6 Exergy S.p.A10.6.1 Company details10.6.2 Financial outlook10.6.3 Product summary10.6.4 Recent developments10.7 Forbes Marshall10.7.1 Company details10.7.2 Financial outlook10.7.3 Product summary10.7.4 Recent developments10.8 General Electric10.8.1 Company details10.8.2 Financial outlook10.8.3 Product summary10.8.4 Recent developments10.9 Terrapin10.9.1 Company details10.9.2 Financial outlook10.9.3 Product summary10.9.4 Recent developments10.10 Siemens AG10.10.1 Company details10.10.2 Financial outlook10.10.3 Product summary10.10.4 Recent developments
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Waste Heat Recovery System Market is projected to reach USD 167.27 billion by 2032, growing at a CAGR of 9.04% during the forecast period.
Waste Heat Recovery System Market grew in market size from 2021. The Market is expected to reach USD 167.27 billion by 2032, at a CAGR of 9.04% during the forecast period.
Waste Heat Recovery System Market CAGR of 9.04% during the forecast period.
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Waste Heat Recovery System Market size is USD 167.27 billion from 2022 to 2032.
Waste Heat Recovery System Market Segment is Covered By Application, By End-User
The North America region is anticipated to have the highest market share in Waste Heat Recovery System Market.
The key players in the market include Companies Covered,General Electric, ABB, Boustead International Heaters, Forbes Marshall, Terrapin, Climeon, Bosch Industriekessel GmbH, AURA GmbH & Co., Exergy S.p.A.
The market is composed of various products, such as heat exchangers, boilers, and turbines, which are used in a range of industries, including chemical, oil and gas, and power generation.
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