The global waste heat recovery market size is poised to grow by USD 16.8 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 6% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global waste heat recovery market 2019-2023. (Graphic: Business Wire)
Read the 125-page research report with TOC on " Waste Heat Recovery Market Analysis Report by end-users (chemical, petroleum refining, paper, commercial and institutional, food and beverages, metal, and other end-users) and geography (APAC, Europe, MEA, North America, and South America)".
The market is driven by the increasing focus on reducing emissions and carbon footprint. Also, the advent of new technologies for waste heat recovery is anticipated to further boost the growth of the waste heat recovery market.
The increasing emission of greenhouse gases from the exhaust of manufacturing facilities is giving rise to poor environmental conditions. However, the heat generated from the exhaust of these industries can be put to use by waste heat recovery systems as these systems help in converting large amounts of heat into electricity. It can also help to reduce CO2 emissions. The implementation of stringent regulations for industrial gas emissions in various countries will boost the growth of the market. Moreover, there are also various initiatives that are being put into action to control greenhouse gas emission and industrial energy emissions. Many countries have implemented e-emission trading systems as well. With such initiatives, the demand for waste heat recovery systems is likely to increase during the forecast period.
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Major Five Waste Heat Recovery Companies:
ABB provides electrical motors, generators, drives, power electronics, and industrial robots. The company also provides waste heat recovery systems, which are primarily developed for the shipbuilding industry. These systems are designed for installation on large marine containers and bulk vessels.
Clean Energy Technologies, Inc
Clean Energy Technologies, Inc provides clean energy and environmentally sustainable technology solutions to companies by offering heat recovery solutions products. The company's key product offerings include Clean Cycle II Organic Rankine Cycle, a heat recovery generator that uses the company's patented magnetic bearing turbine technology to capture wasted heat and convert it into electricity that can be used or sold back to the grid.
John Wood Group PLC
John Wood Group PLC has business operations under various segments, which include asset solutions Americas; asset solutions Europe, Africa, Asia Australia; specialist technical solutions; environment infrastructure solutions; and investment services. The company offers waste recovery solution from its subsidiary Amec Foster Wheeler.
MITSUBISHI HEAVY INDUSTRIES, LTD.
MITSUBISHI HEAVY INDUSTRIES, LTD. supplies gas and steam power generation systems, nuclear power plant equipment, wind power generators, aero engines, compressors, and marine machinery. The company's key offerings in the waste heat recovery category include Eco TG System, and STG System.
Siemens offers products, systems, solutions, software, and services for transmitting and distributing power and developing intelligent grid infrastructures. The company's key offerings for the market include Siemens Organic Rankine Cycle, an ORC technology module, which can generate power output, ranging from 300 kilowatt (kW) to 2 megawatt (MW), using chlorine-free, non-toxic working mediums.
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Waste Heat Recovery End-Users Outlook (Revenue, USD Million, 2019 2023)
- Petroleum refining
- Paper, commercial and institutional
- Food and beverages
- Other end-users
Waste Heat Recovery Regional Outlook (Revenue, USD Million, 2019 2023)
- North America
- South America
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