Waste Heat Recovery System Market size to reach USD 113.8 Bn by the end of the forecast period, Emerging Trends and Regional Insights
Pune, 17, April, 2023: A global Energy & Power business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Waste Heat Recovery System Market”, which is a combination of primary data and secondary data. According to the report, the market is to grow from USD 70.83 Bn in 2022 to USD 113.8 Bn in 2029 at a CAGR of 7 percent.
Waste Heat Recovery System Market Report Scope and Research Methodology
The Waste Heat Recovery System Market research provides a comprehensive market segmentation analysis along with market estimation for the period 2023-2029. The dynamics section in the report provides detailed information on the market drivers, opportunities, restraints, challenges and advantages. The report focuses on the trends and growth prospects of the Waste Heat Recovery System industry. To understand the impact of the various factors on the Waste Heat Recovery System Market, Porter’s five forces analysis is provided in the report. These factors include the bargaining power of suppliers, the competitive intensity of competitors, the threat of substitutes, the threat of new entrants and the bargaining power of buyers, which makes the Waste Heat Recovery System Market report an investor’s guide. SWOT analysis was conducted to provide the strengths and weaknesses of the Waste Heat Recovery System Market, while PORTER, PESTEL analysis was employed to understand the potential impact of macro-economic and micro-economic factors influencing the market.
Waste Heat Recovery System Market Dynamics
The growing chemical industry due to the high heat recovery potential possessed by the flue gases in the chemical industry is driving the growth of the Waste Heat Recovery System market. The market is primarily driven by the increasing use of waste heat recovery systems for preheating of combustion air, furnace loads, space heating and boiler feed water. The market is expected to be restrained by the low quality, low temperature and low efficiency of heat recovered from the output such as cooling water.
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Waste Heat Recovery System Market Regional Insights
In 2022, the North America region dominated the global Waste Heat Recovery System Market and retain its dominance during the forecast period. This growth of the regional market is attributed to the increasing demand for onsite power generation.
The Waste Heat Recovery System Market in the Asia Pacific region is expected to grow at a CAGR of 11.3 percent during the forecast period. The regional market is growing majorly due to the growing construction industry and increasing demand for waste heat recovery system in cement industry.
Waste Heat Recovery System Market Segmentation
By End-User Industry
- Petroleum Refining
- Metal Production
- Cement
- Chemical
- Paper & Pulp
- Textile
By Application
- Preheating
- Steam & Electricity Generation
Waste Heat Recovery System Key Competitors include:
- Amec Foster Wheeler (UK)
- Wood Plc (Amec Foster Wheeler) (UK)
- Boustead International Heaters (UK)
- Promec Engineering (UK)
- Siemens AG (Germany)
- ABB Ltd. (Switzerland)
- General Electric Company (US)
- Cool Energy Inc. (US)
- General Electric Co. (US)
- Echogen Power Systems Inc. (US)
- Ormat Technologies (US)
- Harbin Electric International Company Ltd (China)
- Dongfang Electric Corporation (China)
- China Energy Recovery (China)
- Mitsubishi Hitachi Power Systems (Japan)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Endotherm Ltd. (India)
- Thermax Limited (India)
- Forbes Marshall (India)
- Terrapin (South Africa)
Table of Content for Global Waste Heat Recovery System Market
- Global Waste Heat Recovery System Market: Research Methodology
- Global Waste Heat Recovery System Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Waste Heat Recovery System Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Waste Heat Recovery System Market Segmentation
- Global Market, by End-User Industry (2021-2029)
- Global Market, by Application (2021-2029)
- Regional Waste Heat Recovery System Market (2021-2029)
- Regional Market, by End-User Industry (2021-2029)
- Regional Market, by Application (2021-2029)
- Regional Market, by Country (2021-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
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Key questions answered in the Waste Heat Recovery System Market are:
- What was the Waste Heat Recovery System Market size in 2022?
- What is the expected Waste Heat Recovery System Market size by the end of the forecast period?
- What is the expected CAGR of the Waste Heat Recovery System Market during the forecast period?
- What are the Waste Heat Recovery System Market segments?
- Which Waste Heat Recovery System Market segment is expected to grow at a high rate during the forecast?
- What are the major challenges that the Waste Heat Recovery System Market could face in the future?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Waste Heat Recovery System Market?
- What growth strategies are the players considering to increase their presence in Waste Heat Recovery System?
- Who are the leading companies and what are their portfolios in Waste Heat Recovery System Market?
- Who held the largest Waste Heat Recovery System market share in 2022?
- Which regional Waste Heat Recovery System market is expected to grow at a high rate in future?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Application, End-User Industry and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Energy & Power research firm, has also published the following reports:
Exhaust Heat Recovery System Market – The market size is expected to reach USD 26.41 billion by 2029 at a CAGR of 6.3 percent during the forecast period. The market is expected to be driven by the major focus of OMEs to reduce carbon footprints.
Power Generation Market – The market size is expected to reach USD 1.76 trillion by 2029 at a CAGR of 3.5 percent during the forecast period. The market is expected to be driven by the growing population and rapid urbanization in developing countries.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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