North America Waste Heat Recovery Systems Market Analysis and Forecast 2034
North America Waste Heat Recovery Systems Market Size- By Application, By Temperature, By End Use - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Aug-2025 | Report ID: POAE25145 | Pages: 1 - 262 | Formats*: |
| Category : Power & Energy | |||
North America Waste Heat Recovery Systems Market Introduction and Overview
According to SPER Market Research, the North America Waste Heat Recovery Systems Market is estimated to reach USD 39.59 billion by 2034 with a CAGR of 7.93%.
The report includes an in-depth analysis of the North America Waste Heat Recovery Systems Market, including market size and trends, product mix, Applications, and supplier analysis. The North America Waste Heat Recovery Systems Market was valued at USD 18.46 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 7.93% between 2025 and 2034. Rising energy demand, industrial growth, and stricter energy efficiency regulations are driving the adoption of waste heat recovery systems (WHRS). The need for reliable electricity, energy optimization, and renewable integration further supports this trend. Additionally, the growing focus on improving overall system efficiency has led to increased use of waste heat from various industrial processes, boosting market prospects. In North America, ongoing government efforts to promote energy efficiency and reduce carbon emissions are expected to significantly enhance the demand for WHRS, positively influencing the region’s business outlook.
By Product Insights:
The electricity and steam generation segment of the Waste Heat Recovery Systems (WHRS) industry is expected to witness highest growth in the coming years. This surge is driven by the systems’ ability to reduce greenhouse gas emissions, offer versatile applications, and deliver high energy efficiency. Continued efforts to manage emissions and address rising energy costs are influencing the integration of WHRS in this segment. Moreover, increasing investments in sustainable waste heat utilization across various industries are anticipated to further boost demand for these systems throughout the region.
By Temperature Insights:
Waste Heat Recovery Systems (WHRS) operating in the 230 °C to 650 °C temperature range are expected to experience steady growth in the coming years. This expansion is driven by growing awareness of the benefits these systems offer, including improved energy efficiency, reduced operating costs, and a smaller environmental footprint. As industries increasingly prioritize sustainability and cost-effectiveness, the demand for WHRS within this temperature range is set to strengthen, supporting positive business prospects throughout the forecast period.
Regional Insights
The U.S. waste heat recovery systems market is projected to witness substantial growth, driven by rising awareness of energy efficiency and environmental sustainability. Supportive government policies and ongoing technological advancements will further boost industry expansion. Moreover, strict environmental regulations and an increasing focus on sustainable practices are expected to propel market development, positioning waste heat recovery systems as a key solution in the nation’s transition toward efficient energy use.
Market Competitive Landscape
ABB, BIHL, Bosch Industriekessel GmbH, Climeon, and DÃœRR Group hold a significant share of the waste heat recovery systems market in North America. These companies are heavily investing in research and development initiatives to strengthen their market position and maintain a competitive advantage over other industry players.
Recent Developments:
In March 2023, Dürr Group launched the Cyplan ORC 70 NT, a low-temperature Organic Rankine Cycle module that converts waste heat into clean electricity from as low as 85°C. Designed for versatility across industries, it offers a cost-effective and eco-friendly solution by reducing energy costs and CO₂ emissions.
In February 2021, Siemens Energy signed a strategic agreement to develop a waste heat-to-power pilot project in Canada. The facility will use supercritical carbon dioxide (sCOâ‚‚) technology to convert waste heat from a gas turbine into emission-free electricity. Designed to supply power to over 10,000 households, the project is expected to reduce greenhouse gas emissions by approximately 44,000 tons annually.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Application, By Temperature, By End Use |
| Regions covered | Canada, Mexico, United States |
| Companies Covered | ABB, BIHL, Bosch Industriekessel GmbH, Climeon, DÃœRR Group, Echogen, General Electric, Iberdrola S.A., IHI Power Systems Co., Ltd., Mitsubishi Heavy Industries, Ltd., Rentech Boiler Systems, Inc., Siemens Energy, Sofinter S.p.A, Viessmann. |
Key Topics Covered in the Report
- North America Waste Heat Recovery Systems Market Size (FY’2021-FY’2034)
- Overview of North America Waste Heat Recovery Systems Market
- Segmentation of North America Waste Heat Recovery Systems Market By Application (Pre-Heating, Electricity & Steam Generation, others)
- Segmentation of North America Waste Heat Recovery Systems Market By Temperature (230 °C, 230°C - 650 °C, >650 °C)
- Segmentation of North America Waste Heat Recovery Systems Market By End Use (Petroleum Refining, Cement, Heavy Metal Manufacturing, Chemical, Pulp & Paper, Food & Beverage, Glass, Others)
- Statistical Snap of North America Waste Heat Recovery Systems Market
- Expansion Analysis of North America Waste Heat Recovery Systems Market
- Problems and Obstacles in North America Waste Heat Recovery Systems Market
- Competitive Landscape in the North America Waste Heat Recovery Systems Market
- Details on Current Investment in North America Waste Heat Recovery Systems Market
- Competitive Analysis of North America Waste Heat Recovery Systems Market
- Prominent Players in the North America Waste Heat Recovery Systems Market
- SWOT Analysis of North America Waste Heat Recovery Systems Market
- North America Waste Heat Recovery Systems Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.North America Waste Heat Recovery Systems Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Waste Heat Recovery Systems Market
7.North America Waste Heat Recovery Systems Market, By Application (USD Million) 2021-2034
7.1.Pre-Heating7.2.Electricity & Steam Generation
7.2.1.Steam Rankine Cycle7.2.2.Organic Rankine Cycle7.2.3.Kalina Cycle
7.3.Other
8.North America Waste Heat Recovery Systems Market, By Temperature (USD Million) 2021-2034
8.1.230 °C8.2.230°C - 650 °C8.3.>650 °C
9.North America Waste Heat Recovery Systems Market, By End Use (USD Million) 2021-2034
9.1.Petroleum Refining9.2.Cement9.3.Heavy Metal Manufacturing9.4.Chemical9.5.Pulp & Paper9.6.Food & Beverage9.7.Glass9.8.Others
10.North America Waste Heat Recovery Systems Market, (USD Million) 2021-2034
10.1.North America Waste Heat Recovery Systems Market Size and Market Share
11.North America Waste Heat Recovery Systems Market, By Region, (USD Million) 2021-2034
11.1.Canada11.2.Mexico11.3.United States
12.Company Profile
12.1.ABB
12.1.1.Company details12.1.2.Financial outlook12.1.3.Product summary12.1.4.Recent developments
12.2.BIHL
12.2.1.Company details12.2.2.Financial outlook12.2.3.Product summary12.2.4.Recent developments
12.3.Bosch Industriekessel GmbH
12.3.1.Company details12.3.2.Financial outlook12.3.3.Product summary12.3.4.Recent developments
12.4.Climeon
12.4.1.Company details12.4.2.Financial outlook12.4.3.Product summary12.4.4.Recent developments
12.5.DÃœRR Group
12.5.1.Company details12.5.2.Financial outlook12.5.3.Product summary12.5.4.Recent developments
12.6.Echogen
12.6.1.Company details12.6.2.Financial outlook12.6.3.Product summary12.6.4.Recent developments
12.7.General Electric
12.7.1.Company details12.7.2.Financial outlook12.7.3.Product summary12.7.4.Recent developments
12.8.Iberdrola, S.A.
12.8.1.Company details12.8.2.Financial outlook12.8.3.Product summary12.8.4.Recent developments
12.9.IHI Power Systems Co., Ltd.
12.9.1.Company details12.9.2.Financial outlook12.9.3.Product summary12.9.4.Recent developments
12.10.MITSUBISHI HEAVY INDUSTRIES, LTD
12.10.1.Company details12.10.2.Financial outlook12.10.3.Product summary12.10.4.Recent developments
12.11.Rentech Boiler Systems, Inc.
12.11.1.Company details12.11.2.Financial outlook12.11.3.Product summary12.11.4.Recent developments
12.12.Siemens Energy
12.12.1.Company details12.12.2.Financial outlook12.12.3.Product summary12.12.4.Recent developments
12.13.Sofinter S.p.a
12.13.1.Company details12.13.2.Financial outlook12.13.3.Product summary12.13.4.Recent developments
12.14.Viessmann
12.14.1.Company details12.14.2.Financial outlook12.14.3.Product summary12.14.4.Recent developments
12.15.Others
13.Conclusion
14.List of Abbreviations
15.Reference Links
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
North America Waste Heat Recovery Systems Market is projected to reach USD 39.59 billion by 2034, growing at a CAGR of 7.93% during the forecast period.
North America Waste Heat Recovery Systems Market size from 2025. The Market is expected to reach USD 39.59 billion by 2034, at a CAGR of 7.93% during the forecast period.
North America Waste Heat Recovery Systems Market CAGR of 7.93% during the forecast period.
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North America Waste Heat Recovery Systems Market size is USD 39.59 billion from 2025 to 2034.
North America Waste Heat Recovery Systems Market covered By Application, By Temperature, By End Use
The North America is anticipated to have the highest Market share in the North America Waste Heat Recovery Systems Market.
ABB, BIHL, Bosch Industriekessel GmbH, Climeon, DÜRR Group, Echogen, General Electric, Iberdrola S.A., IHI Power Systems Co., Ltd., Mitsubishi Heavy Industries, Ltd., Rentech Boiler Systems, Inc., Siemens Energy, Sofinter S.p.A, Viessmann.
The report includes an in-depth analysis of the North America Waste Heat Recovery Systems Market, including market size and trends, product mix, Applications, and supplier analysis.
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