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 report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
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 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Waste Heat Recovery System Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Waste Heat Recovery System Market Manufacturing Base Distribution, Sales Area, Product Type
6.2 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 Heating
7.2 Steam & Electricity Generation
7.3 Others
8. Global Waste Heat Recovery System Market, By End-User, 2019-2032 (USD Million)
8.1 Petroleum Refinery
8.2 Power
8.3 Cement
8.4 Chemical
8.5 Metal Production
8.6 Pulp & Paper
8.7 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-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Europe
9.4.1 France
9.4.2 Germany
9.4.3 Italy
9.4.4 Spain
9.4.5 United Kingdom
9.4.6 Rest of Europe
9.5 Middle East and Africa
9.5.1 Kingdom of Saudi Arabia
9.5.2 United Arab Emirates
9.5.3 Rest of Middle East & Africa
9.6 North America
9.6.1 Canada
9.6.2 Mexico
9.6.3 United States
9.7 Latin America
9.7.1 Argentina
9.7.2 Brazil
9.7.3 Rest of Latin America
10. Company Profiles
10.1 ABB
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 AURA GmbH & Co.
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 Bosch Industriekessel GmbH
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Boustead International Heaters
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 Climeon
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Exergy S.p.A
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 Forbes Marshall
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
10.8 General Electric
10.8.1 Company details
10.8.2 Financial outlook
10.8.3 Product summary
10.8.4 Recent developments
10.9 Terrapin
10.9.1 Company details
10.9.2 Financial outlook
10.9.3 Product summary
10.9.4 Recent developments
10.10 Siemens AG
10.10.1 Company details
10.10.2 Financial outlook
10.10.3 Product summary
10.10.4 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.
