Waste Heat Recovery System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Pre Heating, Steam & Power Generation), By Temperature (<230°C, 230-650°C, >650°C), By End-use (Petroleum Refinery, Chemical, Cement) By Region, By Competition, 2018-2028

Industry : Power
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Published Date : NA

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Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 73.03 Billion
CAGR (2023-2028)	7.43%
Fastest Growing Segment	Steam & Power Generation
Largest Market	Asia Pacific

Market Overview

Global Waste Heat Recovery System Market was valued at USD 73.03 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.43% through 2028. The Global Waste Heat Recovery System Market is presently experiencing a remarkable surge in growth, primarily driven by the escalating demand for efficient and sustainable energy solutions in an increasingly industrialized and energy-conscious world. Waste Heat Recovery System solutions, celebrated for their prowess in harnessing and converting waste heat into usable energy, are assuming a pivotal role in redefining energy strategies and bolstering organizations' sustainability efforts. This exploration delves into how Waste Heat Recovery System technology is driving substantial changes across industries, ensuring efficient and eco-friendly energy utilization in an era where sustainability takes center stage.

Waste Heat Recovery System technology has unquestionably emerged as a game-changer in the world of sustainable energy management. As industries and organizations grapple with the challenges of reducing greenhouse gas emissions, optimizing energy consumption, and minimizing environmental impact, the demand for innovative solutions has surged. Waste Heat Recovery System solutions offer a transformative approach, capturing and repurposing waste heat from industrial processes, thereby reducing energy wastage and greenhouse gas emissions. These solutions encompass a range of technologies, including heat exchangers, organic Rankine cycle systems, and thermoelectric generators, all designed to enhance energy efficiency and sustainability.

One of the primary drivers for the adoption of Waste Heat Recovery System technology is the imperative of sustainability and environmental responsibility. Organizations across the globe are under increasing pressure to align with sustainability goals, reduce their carbon footprint, and demonstrate a commitment to environmentally conscious practices. Waste Heat Recovery Systems allow them to achieve these objectives by efficiently utilizing waste heat, lowering energy consumption, and curbing emissions, all while contributing to a greener and more sustainable future.Furthermore, the economic benefits of Waste Heat Recovery Systems play a significant role in their adoption. These systems not only reduce energy costs but also offer the potential for revenue generation through the sale of excess recovered energy or through government incentives and carbon credit programs. This financial viability adds to the appeal of Waste Heat Recovery Systems, making them a prudent choice for organizations looking to enhance their bottom line while adhering to sustainability principles.

In conclusion, the Global Waste Heat Recovery System Market is presently in the midst of a profound transformation, driven by the imperative of sustainability and efficient energy utilization in an environmentally conscious world. Waste Heat Recovery System solutions are redefining how industries manage their energy resources, offering a sustainable and economically attractive approach to energy utilization. As the world continues to prioritize sustainability and energy efficiency, the pivotal role of Waste Heat Recovery System technology in shaping a more eco-conscious and energy-efficient future is undeniable, fostering innovation, economic prosperity, and environmental responsibility.

Key Market Drivers:

Increasing Focus on Energy Efficiency and Sustainability

One of the primary driving factors in the Global Waste Heat Recovery System Market is the escalating focus on energy efficiency and sustainability across various industries. As the world grapples with the challenges of climate change and environmental degradation, there is a growing awareness of the need to reduce energy consumption, minimize greenhouse gas emissions, and adopt more sustainable energy practices.

Waste Heat Recovery Systems play a pivotal role in addressing these concerns. They enable industries to capture and utilize waste heat that would otherwise be dissipated into the environment. This recovered heat can then be converted into useful energy, such as electricity or thermal energy, thereby significantly enhancing overall energy efficiency. By implementing Waste Heat Recovery Systems, industries can reduce their reliance on fossil fuels and decrease their carbon footprint, aligning with global sustainability goals and regulations.

Furthermore, the economic benefits of improved energy efficiency cannot be overstated. Reduced energy consumption leads to lower operational costs, increased competitiveness, and improved profitability. Waste Heat Recovery Systems not only contribute to sustainability but also offer a compelling financial incentive for industries to adopt these technologies.

Stringent Environmental Regulations and Emission Reduction Targets

Stringent environmental regulations and emission reduction targets imposed by governments and international bodies are another significant driver in the Waste Heat Recovery System Market. Governments worldwide are introducing stringent policies aimed at curbing greenhouse gas emissions, promoting energy conservation, and fostering sustainable industrial practices.

To meet these regulatory requirements and avoid penalties, industries are compelled to adopt cleaner and more efficient technologies. Waste Heat Recovery Systems offer an effective solution to reduce emissions and enhance energy efficiency simultaneously. By recovering and reusing waste heat, industries can minimize their reliance on fossil fuels and reduce the emissions associated with energy production.Additionally, some regions provide financial incentives, tax credits, or subsidies to encourage the adoption of energy-efficient technologies, including Waste Heat Recovery Systems. These incentives further motivate industries to invest in such systems, driving market growth.

Technological Advancements and Innovation

Continuous technological advancements and innovation in Waste Heat Recovery System technologies represent a crucial driver in the market. As research and development efforts continue to improve the efficiency, reliability, and cost-effectiveness of these systems, industries are more inclined to adopt them. Innovations in materials, heat exchanger designs, and thermodynamic cycles have led to more efficient and compact Waste Heat Recovery Systems. These advancements enable industries to capture and utilize waste heat from a wider range of processes, making these systems applicable to various industrial sectors.

Moreover, the integration of digital technologies, such as sensors, data analytics, and machine learning, into Waste Heat Recovery Systems has enhanced their performance and monitoring capabilities. These smart systems can optimize heat recovery in real time, making them even more attractive to industries seeking to maximize energy efficiency.

In conclusion, the Global Waste Heat Recovery System Market is being driven by the imperative of energy efficiency, sustainability goals, stringent environmental regulations, and continuous technological advancements. As industries recognize the benefits of waste heat recovery in terms of reduced energy costs, lower emissions, and compliance with regulations, the adoption of these systems is expected to accelerate in the coming years, further propelling market growth.

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Key Market Challenges

High Initial Capital Investment

One of the primary challenges in the Global Waste Heat Recovery System Market is the high initial capital investment required for the installation and integration of these systems. While Waste Heat Recovery Systems offer substantial long-term benefits in terms of energy savings, reduced operational costs, and environmental compliance, the upfront costs can be a significant barrier for many industries, especially small and medium-sized enterprises (SMEs).

The cost of designing, engineering, procuring, and installing a Waste Heat Recovery System can vary widely depending on factors such as the size and complexity of the industrial process, the temperature and volume of waste heat available, and the specific technology chosen. In some cases, these costs can be substantial, and the return on investment (ROI) may take several years to realize. For many businesses, especially those operating on tight budgets, the high initial capital expenditure poses a challenge in adopting Waste Heat Recovery Systems. Overcoming this challenge may require financial incentives, subsidies, or financing options to make these technologies more accessible to a broader range of industries.

Technical Integration and Compatibility

The successful implementation of Waste Heat Recovery Systems often requires seamless integration with existing industrial processes and systems. Achieving this integration can be a complex task, particularly in industries with diverse and intricate manufacturing or production setups. Each industrial process generates waste heat with unique characteristics, including temperature, flow rate, and chemical composition. Consequently, Waste Heat Recovery Systems must be customized to match these specific requirements. Ensuring compatibility and efficient heat transfer between the waste heat source and the recovery system is essential for maximizing energy efficiency.

Another aspect of technical integration is the need for control systems and sensors to monitor and optimize the performance of Waste Heat Recovery Systems in real time. These systems must communicate effectively with the existing industrial control infrastructure to adjust parameters, such as heat exchanger flow rates and temperatures, to maintain optimal operation. Addressing these technical integration challenges often necessitates collaboration between engineers, process experts, and technology providers. Customized solutions and careful planning are essential to overcome these hurdles.

Limited Awareness and Expertise

A significant challenge in the adoption of Waste Heat Recovery Systems is the limited awareness and expertise among industries regarding the potential benefits and available technologies. Many businesses may not fully comprehend the advantages of waste heat recovery or may underestimate its impact on energy efficiency and cost reduction. Additionally, there may be a lack of in-house expertise to assess, design, implement, and maintain Waste Heat Recovery Systems effectively. These technologies often require specialized knowledge in thermodynamics, heat transfer, and system integration. Smaller organizations or those with limited access to technical resources may find it challenging to navigate the complexities of these systems.

To address this challenge, industry associations, government agencies, and technology providers can play a crucial role in raising awareness and providing educational resources. Training programs, workshops, and knowledge-sharing initiatives can help bridge the knowledge gap and empower industries to make informed decisions regarding the adoption of Waste Heat Recovery Systems.

In conclusion, the Global Waste Heat Recovery System Market faces challenges related to high initial capital investment, technical integration and compatibility, and limited awareness and expertise. Overcoming these hurdles will require a combination of financial incentives, technical support, and educational efforts to facilitate the widespread adoption of these energy-efficient technologies.

Key Market Trends

Emphasis on Energy Efficiency and Sustainability

One prominent trend in the Global Waste Heat Recovery System (WHRS) Market is the increasing emphasis on energy efficiency and sustainability across industries. As organizations strive to reduce their carbon footprint and operational costs, WHRS has emerged as a key technology to achieve these goals. WHRS enables the recovery and reuse of waste heat generated during various industrial processes, effectively converting it into valuable energy resources.

This trend is driven by several factors, including stricter environmental regulations, rising energy costs, and growing awareness of the environmental impact of industrial operations. Industries are now actively seeking ways to harness waste heat, thereby reducing their reliance on conventional energy sources and mitigating greenhouse gas emissions. WHRS not only contributes to a more sustainable future but also offers a compelling return on investment by reducing energy bills and enhancing energy security.

As a result, industries such as manufacturing, chemicals, petrochemicals, and power generation are increasingly integrating WHRS into their processes. This trend is expected to continue, with businesses focusing on optimizing existing WHRS and exploring innovative technologies to recover and utilize waste heat more effectively.

Technological Advancements and Integration with Industry 4.0

Another significant trend in the WHRS market is the rapid technological advancements and integration with Industry 4.0 concepts. Industry 4.0, characterized by the use of automation, data exchange, and digital technologies, is driving the transformation of manufacturing and industrial processes. WHRS is aligning with these principles to enhance its efficiency and capabilities.

Advanced sensors, IoT (Internet of Things) connectivity, and real-time data analytics are being incorporated into WHRS components, enabling more precise monitoring and control of waste heat recovery processes. This integration allows industries to optimize heat recovery in real time, adjusting parameters for maximum efficiency and reducing energy waste.

Furthermore, the integration of WHRS with Industry 4.0 facilitates predictive maintenance, ensuring that WHRS components operate at peak performance and minimizing downtime. This not only enhances the reliability of WHRS but also reduces maintenance costs. Industries are also exploring digital twins and simulation tools to model and optimize waste heat recovery systems before implementation, reducing the risk of underperformance and optimizing energy savings. These technological advancements are propelling WHRS into a new era of efficiency and effectiveness.

Growing Application in Emerging Markets

The adoption of WHRS is experiencing significant growth in emerging markets, representing another notable trend in the industry. While developed regions have been quick to recognize the benefits of waste heat recovery, emerging economies are increasingly recognizing its potential to improve energy efficiency, reduce operational costs, and enhance industrial competitiveness.

In these emerging markets, rapid industrialization and urbanization have led to increased energy consumption and environmental challenges. As a result, governments and industries are actively seeking solutions to address energy efficiency and environmental sustainability. WHRS is being viewed as a viable and cost-effective means to achieve these objectives. Moreover, WHRS technologies are evolving to cater to the specific needs and conditions of emerging markets. Manufacturers are offering scalable and modular WHRS solutions that can be easily integrated into existing industrial processes, making adoption more accessible and cost-effective.

Key industries driving the adoption of WHRS in emerging markets include cement, steel, chemicals, and manufacturing. As these markets continue to expand, the trend of incorporating WHRS into industrial processes is expected to gain further momentum, contributing to both economic and environmental sustainability. In summary, the Global Waste Heat Recovery System Market is witnessing trends such as an increased focus on energy efficiency and sustainability, technological advancements and integration with Industry 4.0, and growing application in emerging markets. These trends collectively demonstrate the evolving landscape of waste heat recovery, with a strong emphasis on maximizing energy efficiency, reducing environmental impact, and driving industrial innovation.

Segmental Insights

Application Insights

Steam & Power Generation is the dominating segment in the global waste heat recovery system market by application.

There are a few reasons for the dominance of the steam and power generation segment in the global waste heat recovery system market. First, steam and power generation is one of the largest energy-consuming sectors in the world. Second, waste heat recovery systems can significantly improve the efficiency of steam and power generation plants. Third, there are a number of mature and well-established waste heat recovery technologies available for steam and power generation applications.

Here are some of the key factors driving the growth of the steam and power generation segment in the global waste heat recovery system market:The increasing demand for energy efficiency: Businesses and governments are increasingly looking to improve their energy efficiency in order to reduce costs and greenhouse gas emissions. Waste heat recovery systems can help to improve energy efficiency by capturing and reutilizing waste heat.The rising cost of energy: The rising cost of energy is making waste heat recovery systems more attractive to businesses and governments. Waste heat recovery systems can help to reduce energy costs by capturing and reutilizing waste heat.The increasing availability of waste heat: The increasing availability of waste heat from industrial processes and power generation plants is driving the growth of the waste heat recovery system market.

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Regional Insights

Asia Pacific is the dominating region in the global waste heat recovery system market.

There are a few reasons for the dominance of the Asia Pacific region in the global waste heat recovery system market. First, the Asia Pacific region is home to a number of rapidly growing economies, such as China and India. Second, the Asia Pacific region has a large and growing industrial sector. Third, the Asia Pacific region has a number of government initiatives that support the development and deployment of waste heat recovery systems.

Here are some of the key factors driving the growth of the waste heat recovery system market in the Asia Pacific region:

The rapid economic growth in the region: The rapid economic growth in the Asia Pacific region is leading to increased demand for energy. Waste heat recovery systems can help to reduce energy consumption and improve energy efficiency.

The growing industrial sector in the region: The growing industrial sector in the Asia Pacific region is generating a significant amount of waste heat. Waste heat recovery systems can help to capture and utilize this waste heat to improve energy efficiency and reduce costs.

The government initiatives that support the development and deployment of waste heat recovery systems: A number of governments in the Asia Pacific region have implemented initiatives to support the development and deployment of waste heat recovery systems. These initiatives include financial incentives and tax breaks. Some of the leading countries in the Asia Pacific waste heat recovery system market include China, India, Japan, and South Korea. These countries have a number of large-scale waste heat recovery projects in operation or under development.

Other regions that are expected to experience significant growth in the waste heat recovery system market include North America and Europe. The growth of the waste heat recovery system market in these regions is being driven by the increasing demand for energy efficiency, the rising cost of energy, and the availability of government initiatives that support the development and deployment of waste heat recovery systems.

Recent Developments

Synthesia has announced a partnership with Google Cloud Platform (GCP) to make it easier for businesses and individuals to create high-quality AI-generated videos. The partnership will allow Synthesia to leverage GCP's infrastructure and services to scale its operations and meet the growing demand for AI video generation.
Siemens Aktiengesellschaft has raised $50 million in Series C funding, bringing its total funding to $88 million. The funding will be used to accelerate the company's growth and development of its AI video generation platform.
InVideo has launched a new AI video editor that allows users to create videos with just a few clicks. The new editor is powered by AI and can automatically generate videos from text, images, and videos.

Key Market Players

ABB Ltd.
Siemens Aktiengesellschaft
General Electric Company
Mitsubishi Heavy Industries, Ltd.
Thermax Limited
John Wood Group PLC
Kawasaki Heavy Industries, Ltd.
Ormat Technologies, Inc.
Robert Bosch Industriekessel GmbH
Dürr Aktiengesellschaft

By Application	By Temperature	By End-use	By Region
Pre Heating Steam & Power Generation	<230°C 230-650°C >650°C	Petroleum Refinery Chemical Cement	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Waste Heat Recovery System Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Waste Heat Recovery System Market, By Application:

o Pre Heating

o Steam & Power Generation

Waste Heat Recovery System Market, By Temperature:

o <230°C

o 230-650°C

o >650°C

Waste Heat Recovery System Market, By End Use:

o Petroleum Refinery

o Chemical

o Cement

Waste Heat Recovery System Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

§ Belgium

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

§ Indonesia

§ Vietnam

o South America

§ Brazil

§ Argentina

§ Colombia

§ Chile

§ Peru

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Turkey

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Waste Heat Recovery System Market.

Available Customizations:

Global Waste Heat Recovery System market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

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Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Formulation of the Scope

2.4. Assumptions and Limitations

2.5. Sources of Research

2.5.1. Secondary Research

2.5.2. Primary Research

2.6. Approach for the Market Study

2.6.1. The Bottom-Up Approach

2.6.2. The Top-Down Approach

2.7. Methodology Followed for Calculation of Market Size & Market Shares

2.8. Forecasting Methodology

2.8.1. Data Triangulation & Validation

3. Executive Summary

4. Impact of COVID-19 on Global Waste Heat Recovery System Market

5. Voice of Customer

6. Global Waste Heat Recovery System Market Overview

7. Global Waste Heat Recovery System Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Application (Pre Heating, Steam & Power Generation)

7.2.2. By Temperature (<230°C, 230-650°C, >650°C)

7.2.3. By End-use (Petroleum Refinery, Chemical, Cement)

7.2.4. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3. By Company (2022)

7.4. Market Map

8. North America Waste Heat Recovery System Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Application

8.2.2. By Temperature

8.2.3. By End-use

8.2.4. By Country

8.3. North America: Country Analysis

8.3.1. United States Waste Heat Recovery System Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Application

8.3.1.2.2. By Temperature

8.3.1.2.3. By End-use

8.3.2. Canada Waste Heat Recovery System Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Application

8.3.2.2.2. By Temperature

8.3.2.2.3. By End-use

8.3.3. Mexico Waste Heat Recovery System Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Application

8.3.3.2.2. By Temperature

8.3.3.2.3. By End-use

9. Europe Waste Heat Recovery System Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Application

9.2.2. By Temperature

9.2.3. By End-use

9.2.4. By Country

9.3. Europe: Country Analysis

9.3.1. Germany Waste Heat Recovery System Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Application

9.3.1.2.2. By Temperature

9.3.1.2.3. By End-use

9.3.2. France Waste Heat Recovery System Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Application

9.3.2.2.2. By Temperature

9.3.2.2.3. By End-use

9.3.3. United Kingdom Waste Heat Recovery System Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Application

9.3.3.2.2. By Temperature

9.3.3.2.3. By End-use

9.3.4. Italy Waste Heat Recovery System Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Application

9.3.4.2.2. By Temperature

9.3.4.2.3. By End-use

9.3.5. Spain Waste Heat Recovery System Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Application

9.3.5.2.2. By Temperature

9.3.5.2.3. By End-use

9.3.6. Belgium Waste Heat Recovery System Market Outlook

9.3.6.1. Market Size & Forecast

9.3.6.1.1. By Value

9.3.6.2. Market Share & Forecast

9.3.6.2.1. By Application

9.3.6.2.2. By Temperature

9.3.6.2.3. By End-use

10. South America Waste Heat Recovery System Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Application

10.2.2. By Temperature

10.2.3. By End-use

10.2.4. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Waste Heat Recovery System Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Application

10.3.1.2.2. By Temperature

10.3.1.2.3. By End-use

10.3.2. Colombia Waste Heat Recovery System Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Application

10.3.2.2.2. By Temperature

10.3.2.2.3. By End-use

10.3.3. Argentina Waste Heat Recovery System Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Application

10.3.3.2.2. By Temperature

10.3.3.2.3. By End-use

10.3.4. Chile Waste Heat Recovery System Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Application

10.3.4.2.2. By Temperature

10.3.4.2.3. By End-use

10.3.5. Peru Waste Heat Recovery System Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Application

10.3.5.2.2. By Temperature

10.3.5.2.3. By End-use

11. Middle East & Africa Waste Heat Recovery System Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Application

11.2.2. By Temperature

11.2.3. By End-use

11.2.4. By Country

11.3. Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Waste Heat Recovery System Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Application

11.3.1.2.2. By Temperature

11.3.1.2.3. By End-use

11.3.2. UAE Waste Heat Recovery System Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Application

11.3.2.2.2. By Temperature

11.3.2.2.3. By End-use

11.3.3. South Africa Waste Heat Recovery System Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Application

11.3.3.2.2. By Temperature

11.3.3.2.3. By End-use

11.3.4. Turkey Waste Heat Recovery System Market Outlook

11.3.4.1. Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2. Market Share & Forecast

11.3.4.2.1. By Application

11.3.4.2.2. By Temperature

11.3.4.2.3. By End-use

11.3.5. Israel Waste Heat Recovery System Market Outlook

11.3.5.1. Market Size & Forecast

11.3.5.1.1. By Value

11.3.5.2. Market Share & Forecast

11.3.5.2.1. By Application

11.3.5.2.2. By Temperature

11.3.5.2.3. By End-use

12. Asia Pacific Waste Heat Recovery System Market Outlook

12.1. Market Size & Forecast

12.1.1. By Application

12.1.2. By Temperature

12.1.3. By End-use

12.1.4. By Country

12.2. Asia-Pacific: Country Analysis

12.2.1. China Waste Heat Recovery System Market Outlook

12.2.1.1. Market Size & Forecast

12.2.1.1.1. By Value

12.2.1.2. Market Share & Forecast

12.2.1.2.1. By Application

12.2.1.2.2. By Temperature

12.2.1.2.3. By End-use

12.2.2. India Waste Heat Recovery System Market Outlook

12.2.2.1. Market Size & Forecast

12.2.2.1.1. By Value

12.2.2.2. Market Share & Forecast

12.2.2.2.1. By Application

12.2.2.2.2. By Temperature

12.2.2.2.3. By End-use

12.2.3. Japan Waste Heat Recovery System Market Outlook

12.2.3.1. Market Size & Forecast

12.2.3.1.1. By Value

12.2.3.2. Market Share & Forecast

12.2.3.2.1. By Application

12.2.3.2.2. By Temperature

12.2.3.2.3. By End-use

12.2.4. South Korea Waste Heat Recovery System Market Outlook

12.2.4.1. Market Size & Forecast

12.2.4.1.1. By Value

12.2.4.2. Market Share & Forecast

12.2.4.2.1. By Application

12.2.4.2.2. By Temperature

12.2.4.2.3. By End-use

12.2.5. Australia Waste Heat Recovery System Market Outlook

12.2.5.1. Market Size & Forecast

12.2.5.1.1. By Value

12.2.5.2. Market Share & Forecast

12.2.5.2.1. By Application

12.2.5.2.2. By Temperature

12.2.5.2.3. By End-use

12.2.6. Indonesia Waste Heat Recovery System Market Outlook

12.2.6.1. Market Size & Forecast

12.2.6.1.1. By Value

12.2.6.2. Market Share & Forecast

12.2.6.2.1. By Application

12.2.6.2.2. By Temperature

12.2.6.2.3. By End-use

12.2.7. Vietnam Waste Heat Recovery System Market Outlook

12.2.7.1. Market Size & Forecast

12.2.7.1.1. By Value

12.2.7.2. Market Share & Forecast

12.2.7.2.1. By Application

12.2.7.2.2. By Temperature

12.2.7.2.3. By End-use

13. Market Dynamics

13.1. Drivers

13.2. Challenges

14. Market Trends and Developments

15. Company Profiles

15.1. ABB Ltd.

15.1.1. Business Overview

15.1.2. Key Revenue and Financials

15.1.3. Recent Developments

15.1.4. Key Personnel/Key Contact Person

15.1.5. Key Product/Services Offered

15.2. Siemens Aktiengesellschaft

15.2.1. Business Overview

15.2.2. Key Revenue and Financials

15.2.3. Recent Developments

15.2.4. Key Personnel/Key Contact Person

15.2.5. Key Product/Services Offered

15.3. General Electric Company

15.3.1. Business Overview

15.3.2. Key Revenue and Financials

15.3.3. Recent Developments

15.3.4. Key Personnel/Key Contact Person

15.3.5. Key Product/Services Offered

15.4. Mitsubishi Heavy Industries, Ltd.

15.4.1. Business Overview

15.4.2. Key Revenue and Financials

15.4.3. Recent Developments

15.4.4. Key Personnel/Key Contact Person

15.4.5. Key Product/Services Offered

15.5. Thermax Limited

15.5.1. Business Overview

15.5.2. Key Revenue and Financials

15.5.3. Recent Developments

15.5.4. Key Personnel/Key Contact Person

15.5.5. Key Product/Services Offered

15.6. John Wood Group PLC

15.6.1. Business Overview

15.6.2. Key Revenue and Financials

15.6.3. Recent Developments

15.6.4. Key Personnel/Key Contact Person

15.6.5. Key Product/Services Offered

15.7. Kawasaki Heavy Industries, Ltd.

15.7.1. Business Overview

15.7.2. Key Revenue and Financials

15.7.3. Recent Developments

15.7.4. Key Personnel/Key Contact Person

15.7.5. Key Product/Services Offered

15.8. Ormat Technologies, Inc.

15.8.1. Business Overview

15.8.2. Key Revenue and Financials

15.8.3. Recent Developments

15.8.4. Key Personnel/Key Contact Person

15.8.5. Key Product/Services Offered

15.9. Robert Bosch Industriekessel GmbH

15.9.1. Business Overview

15.9.2. Key Revenue and Financials

15.9.3. Recent Developments

15.9.4. Key Personnel/Key Contact Person

15.9.5. Key Product/Services Offered

15.10. Dürr Aktiengesellschaft

15.10.1. Business Overview

15.10.2. Key Revenue and Financials

15.10.3. Recent Developments

15.10.4. Key Personnel/Key Contact Person

15.10.5. Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Waste Heat Recovery System Market in 2022?

The market size of the Global Waste Heat Recovery System Market was estimated to be USD 73.03 Billion in 2022.

What is Waste Heat Recovery System?

A Waste Heat Recovery System (WHRS) is a technology that captures and utilizes excess heat generated as a byproduct in various industrial processes and systems. The primary purpose of WHRS is to recover this waste heat and convert it into useful energy, such as electricity, steam, hot water, or other forms of thermal energy. By doing so, it improves energy efficiency, reduces greenhouse gas emissions, and lowers operational costs for industries and facilities.