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Waste Heat Recovery System Market Outlook | Development Factors, Latest Opportunities and Forecast 2024

Author : Rahul Sankrityayan | Published Date : 2019-10-04 

A comprehensive research study on Waste Heat Recovery System Market introduced by Global Market Insights provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of Waste Heat Recovery System Market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

Waste Heat Recovery System Market size in Asia-Pacific is estimated to surpass USD 30 billion by 2025. Positive outlook toward expansion of industrial centers along with government legislation and policies toward minimizing carbon footprint will propel the business growth.

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As of 2018, Asia Pacific accounted for over 50% of the global manufacturing valued added with rising FDI inflows toward manufacturing sector. Rising consumer focus on harmful environmental impacts of emissions and respective government plans toward sustainable development is set to boost product deployment across energy intensive industries.

Pages: 305

Tables: 430

Charts / Figures: 43

Companies covered: 21

Countries covered: 30

Waste heat recovery system market is predicted to reach over USD 80 billion by 2025. Escalating demand for energy efficiency across manufacturing sector along with robust industrial sector growth will stimulate the business growth. Shifting regulatory landscape toward emission control along with stringent emission standards will fuel the adoption of heat recovery systems. Moreover, reduced operational cost along with the transition toward renewable energy sources will contribute toward industry expansion.

 >6500C WHR system involves SRC technology in which the extraction of steam from the turbines is done in order to pre-heat the boiler feedwater. These systems are installed across cement, glass and heavy metal manufacturing industries for effective and efficient exhaust heat utilization. Cost reduction, greater operational flexibility and technology advancement are few key features that will contribute toward the growth of waste heat recovery system market share.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Climeon AB
  • Promec Engineering
  • Boustead International
  • HRS
  • Aura GmbH
  • Cochran
  • IHI
  • Mitsubishi Hitachi Power Systems
  • AC Boilers
  • AMEC Foster Wheeler
  • Dürr Group
  • Siemens
  • Forbes Marshall
  • Bosch Thermotechnology
  • Rentech Boiler Systems
  • Viessman
  • General Electric
  • Ormat Technologies

Growing focus towards low temperature heat utilization from industrial waste stream sources coupled with efforts to achieve energy optimization will drive WHRS market growth. These units are gaining momentum across the medium scale industries in order to reduce emission levels and achieve low operational costs. Furthermore, growing demand for reliable electricity along with rising fuel prices will complement toward industry expansion.

In recent years, WHR systems have found significant penetration in glass, heavy metal production, chemical, and petroleum refining industries. Stringent emissions standards along with escalating demand for continuous and reliable electricity will stimulate the product adoption. Furthermore, ongoing expansion across food processing industry along with decreasing costs of low temperature heat utilization will increase the waste heat recovery system market.

UK waste heat recovery system market share is predicted to grow over 7% by 2025. Long term benefits of decarbonization and increasing focus toward sustainable development have increased demand for waste heat recovery system. Ongoing policies and initiatives toward the adoption of energy efficient systems will further stimulate the industry growth.

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Significant players operating across the waste heat recovery systems market include: AC Boilers, Aura GmbH, AMEC Foster Wheeler, Bosch Thermotechnology, Durr Group, General Electric, Forbes Marshall, Rentech Boiler Systems, Ormat Technologies, Exery SPA, Thermax, Viessman, Climeon AB, Boustead International, IHI Corporation, Cochran, Mitsubishi Hitachi Power Systems, Promec Engineering, HRS, Walchandnagar and Siemens.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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