Global Waste Heat Recovery Market

Waste Heat Recovery Market Size, Share, Growth Analysis, By Phase System (Liquid-liquid Phase System, Liquid-gas Phase System), By Application (Preheating, Steam & Electricity Generation), By End-use Industry (Petroleum Refining, Metal Production), By Region - Industry Forecast 2025-2032

Report ID: SQMIG25S2052 | Region: Global | Published Date: March, 2024
Pages: 157 | Tables: 95 | Figures: 76

Waste Heat Recovery Market News

  • July 2023: Solex Thermal Science Inc., a Canadian organization focusing on thermal and bulk materials engineering, is thrilled to announce its successful acquisition of Econotherm Ltd., a distinguished UK-based totally business enterprise focusing on waste warmth recuperation generation.
  • December 2023: BB introduces its most modern Turbex® K series business turbochargers, specifically crafted for waste heat healing programs inside the cement and steel sectors. This modern-day collection boasts more suitable performance and diminished emissions, catering to the evolving needs of those industries.
  • October 2023: Amec Foster Wheeler has secured a contract to engineer and supply a waste warmth recuperation system tailored for a petrochemical facility located inside the Middle East. This system is projected to supply 50 megawatts (MW) of electrical electricity, thereby slicing down electricity usage through 15%.
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Global Waste Heat Recovery Market size was valued at USD 71.50 billion in 2022 and is poised to grow from USD 76.65 billion in 2023 to USD 133.68 billion by 2031, growing at a CAGR of 7.20% during the forecast period (2024-2031). 

The aggressive surroundings of the Waste Heat Recovery market are dynamic and characterised via the presence of key players and a dynamic enterprise striving for innovation. Strategic collaborations, partnerships, and mergers and acquisitions are commonplace tendencies as corporations aim to increase their product portfolios and beef up their marketplace positions. 'BB Ltd. ', 'Wood (John Wood Group plc) ', 'Ormat Technologies Inc. ', 'General Electric Co. ', 'Mitsubishi Heavy Industries, Ltd. ', 'Siemens AG ', 'Thermax Limited ', 'Echogen Power Systems, LLC ', 'Econotherm Ltd. ', 'Cool Energy, Inc. ', 'Transparent Energy Systems Pvt. Ltd. ', 'JP Steel Plantech Co. (Steel Plantech) ', 'TMEIC ', 'Clyde Bergemann Power Group ', 'Kilburn Engineering Limited ', 'Sigma Thermal ', 'Penta Engineering Corporation ', 'Unidyne ', 'Thermal Systems (Hyderabad) Pvt. Ltd. ', 'Esteem Power Equipment India Pvt. Ltd. '

The escalating calls for strength performance and sustainability across numerous industries propels the adoption of waste warmth recuperation systems. Industries recognize the financial and environmental blessings of harnessing and utilizing formerly wasted thermal strength from approaches.

Rising Emphasis on Integration of Advanced Technologies: The growing emphasis on the combination of advanced technology which includes Artificial Intelligence (AI) and Internet of Things (IoT) in waste warmness healing systems. These technologies allow real-time monitoring and optimization, improving usual machine performance. Another super fashion is the increasing adoption of organic Rankine cycle (ORC) generation, specifically in smaller-scale packages, supplying flexibility and performance improvements. Additionally, there is a growing hobby in modular and customizable waste warmth restoration solutions to cater to various industrial methods.   

Asia-Pacific is anticipated to dominate the waste warmness recovery market. The location's dominance may be attributed to the fast industrialization in international locations like China and India, in which substantial production and industrial sports generate enormous waste warmth. The recognition on strength efficiency, coupled with supportive government initiatives and policies selling sustainable practices, further propels the adoption of waste warmness healing structures within the area.

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Global Waste Heat Recovery Market

Report ID: SQMIG25S2052

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