Waste Heat Recovery market to surge at 5.7% CAGR and reach remarkable value by 2023, according to Global Waste Heat Recovery Market Analysis Report published by Market Research Future. The future of the Waste Heat Recovery market looks promising. Global Waste Heat Recovery Industry Report analyzes Market for Waste Heat Recovery by application, end-use and Region with Forecast to 2023.
Major Waste Heat Recovery Companies covered in the market report include Ormat Technologies Inc. (U.S.), Echogen Power Systems Inc. (U.S.), General Electric Co. (U.S.), Cool Energy Inc. (U.S.), Amec Foster Wheeler (U.K.), Econotherm Ltd. (U.K.), Alstom SA (France), Siemens AG (Germany), ABB Ltd. (Switzerland), and Mitsubishi Heavy Industries Ltd. (Japan). Thermax Limited (India), China Energy Recovery Inc. (China), and are among others.
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Global Market Highlights:
The global waste heat recovery market is estimated to showcase significant growth over the forecast period owing to factors such as reduced greenhouse gas emissions, application flexibility, and energy efficiency. According to Market Research Future (MRFR), the market is also driven by constant efforts towards lowering harmful carbon emissions and the growing demand for on-site power generation. The increasing electricity prices are estimated to raise the deployment of electricity & steam generation. Additionally, important government initiatives for energy conservation and reduction of energy costs are estimated to drive the market.
The recent activities such as reduced greenhouse gas emissions, application flexibility, and its ability to provide high energy efficiency are some of the key features which will boost product adoption in approaching years.
The ongoing efforts to reduce harmful carbon emissions along with increasing electricity prices will drive the deployment of electricity & steam generation. Also, the growing focus towards the enhancement of plan efficiency coupled with growing demand for onsite power generation is some of the main factors that are propelling the market for waste heat recovery system rapidly.
On the flip side, the occurrence of high initial investment costs coupled with complexity in waste heat recovery system designs is posing as challenges for the market growth. But, the other side, with extensive R&D by industry participants is hence improving waste heat recovery system designs and reduces installation costs and supporting the market gradually to grow with a confident pull.
Waste Heat Recovery Market Segments Overview:
In the reports by MRFR, the global waste heat recovery system market is all-inclusively segmented based on application, end-use, and region.
By mode of end-use, the market has been segmented into petrol refining, chemical, cement, metal production and casting, paper and pulp, and others. Of these, petroleum refining is leading the end-user segment of the market. Whereas, the cement industry is witnessed to be the fastest growing segment of the market. The most energy-incentive process in the cement industry is clinker production in kilns.
By mode of application, the waste heat recovery system market has been segmented into steam and power generation, pre-heating and others.
Regional Analysis:
North America is a significant regional market for waste heat recovery systems, with the U.S. being the most important region for the market. The regional market is driven by stringent regulations on energy saving and energy efficiency by the government, and numerous environmental organizations drive the market.
Asia Pacific region is expected to expand at the highest CAGR during the forecast period due to high industrialization and growing significance for sustainable energy in emerging markets of China and India. This is projected to drive the global waste heat recovery system market growth over the forecast period. Moreover, high growth seen in manufacturing sectors has also planned to drive waste heat recovery systems demand in cement, paper & pulp, metals, chemicals, and petroleum refining. China, Japan, Singapore, and Australia are the major contributors in the region.
Europe is estimated to report substantial growth and lead the global waste heat recovery system market through the forecast period due to the rising awareness of waste heat recovery systems. Additionally, the European Union has taken supportive initiatives to develop energy through waste heat, which has driven the market growth over the past few years and is likely to contribute the market share significantly over the forecast period.
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TABLE OF CONTENTS:
1 Introduction
1.1 Definition
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Propulsionology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.1.1 Bargaining Power Of Suppliers
4.1.2 Bargaining Power Of Customer
4.1.3 Intensity Of Competitors
4.1.4 Threat Of New Entrants
5 V2X, By Communication Type
5.1 Introduction
5.1.1 V2C
Continued…
LIST OF TABLES:
Table 1 Global Waste Heat Recovery Market: By Region, 2018-2023
Table 2 North America Waste Heat Recovery Market: By Country, 2018-2023
Table 3 Europe Waste Heat Recovery Market: By Country, 2018-2023
Table 4 Asia-Pacific Waste Heat Recovery Market: By Country, 2018-2023
Table 5 RoW Waste Heat Recovery Market: By Country, 2018-2023
Continued…
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porters Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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