Waste Heat Recovery System Market Analysis by Application (Preheating and Steam & Electricity Generation) | Expert Review – 2022

Waste Heat Recovery System Market research report provides key details on the 2022 growth plans, business opportunity, industry demand, upcoming trends, drivers & restraints. The Waste Heat Recovery System Market also examines the major players, distribution channels, development prospects, market size, share, dynamics, top key players and expert reviews & forecast. The report presents Waste Heat Recovery System market analysis by Application (Preheating and Steam & Electricity Generation), End-Use Industry (Petroleum Refining, Metal Production, Cement, Chemical, Paper & Pulp, and Textile)

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 Segmentation 

WHR system market Segmented on the basis of application, end-use industries, and region.

WHRS Market, by Application:

  • Preheating
  • Steam & electricity generation
  • Others
    • Space heating
    • Chilling

WHRS Market, by End-use Industries:

  • Petroleum refining
  • Metal production
  • Cement
  • Chemical
  • Paper & pulp
  • Others
    • Food & Beverage
    • Glass
    • Primary metal refining

WHRS Market, by Region:

  • North America
  • Europe
  • Asia-Pacific
  • 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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