Waste Heat Recovery Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 - 2025

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Waste Heat Recovery Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : August, 2020 | Energy & Mining | PPT format

Report Digest


Waste Heat Recovery Market: An Overview

New energy efficient equipment or waste heat recovery systems enable users to reduce energy losses and cater to the growing energy demands which drive waste heat recovery market. These systems can also be used to capture the heat generated in the course of several industrial processes and further use it for mechanical and electrical works, fulfilling the energy requirements by converting waste heat into a useful one. 

With rising energy demands, stringent environmental conditions, and the need to optimize or utilize the available resources in the best possible ways - waste heat recovery is the need of the hour. Presently, several companies have installed these systems for the purpose of energy generation as well as emission reduction.

Waste Heat Recovery Market: Key Segments

The waste heat recovery market can be broadly classified on the basis of source of waste heat, application, end-use industry, and the location of major areas employing waste to heat energy recovery systems for the purpose of converting the waste heat into a useful one. The major sources of waste heat are: ventilation system extracts, boiler flue gases, air compressors, refrigeration plants, turbines, power generation plants, process plants cooling systems, and others. The waste heat recovery systems can capture the heat generated from these systems to employ them for various other purposes.

The waste heat recovery system uses discarded heat and employs it to heat the water that creates steam, which is subsequently used for the purpose of running the turbines. The turbine movement thus converts the mechanical energy into an electrical one. The major applications of waste heat recovery systems include space heating, drying, power generation, pre-heating of combustion air for boilers, and fresh air for building ventilation and others. Key end-use industries for waste heat recovery units include petroleum and refining industries, pulp and paper industries, heavy metals reefing industries, chemical refining industries, and cement industries.

Waste Heat Recovery Market: Regional Analysis

The waste heat recovery market can be simply identified by the regions employing waste heat recovery technologies. The main regions are: the U.S., Canada, Germany, France, the U.K., Russia, China, India, Australia, Japan, Indonesia, Brazil, South Africa, and the Middle East countries.

The increasing fuel prices, supportive government policies, stringent environmental regulations, energy loss minimization, and the rise in the energy demands of individuals as well as industries are the major drivers for the waste heat recovery market. The additional costs involved in installation and longer payback periods act as obstacles for the waste heat recovery market. However, rapid industrialization, especially in Asia Pacific countries, has led to the increase in demand for energy. In addition, new, existing, and upcoming incentive schemes related to energy conservation and environmental protection can act as an opportunity to the waste heat recovery market.

Waste Heat Recovery Market: Key Market Players

The key players in the waste heat recovery market are: General Electric, Alstom SA, Siemens AG, Mitsubishi Heavy Industries Ltd, Thermax Ltd, and Foster Wheeler AG.        

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.