The Waste Heat Recovery System Market was estimated at USD 66.26 billion in 2023 and is expected to reach USD 137.40 billion by 2032, with a growing CAGR of 8.44% over the forecast period 2024-2032. This report offers a comprehensive analysis of the Waste Heat Recovery System Market, focusing on key operational and technological metrics such as energy efficiency improvement rates, installed capacity and utilization trends, and downtime and maintenance data. It explores technological adoption trends across regions, highlighting the growing shift towards advanced waste heat recovery solutions. Additionally, it provides insights into the export/import trends of waste heat recovery equipment, revealing shifts in global supply chains. This data helps to identify the most dynamic regions and evolving operational efficiencies in the market.
Get More Information on Waste Heat Recovery System Market - Request Sample Report
Drivers
Rising industrialization and strict energy efficiency mandates are driving the adoption of waste heat recovery systems to reduce energy costs and carbon emissions.
The Waste Heat Recovery System Market is experiencing significant growth due to rapid industrialization and stringent energy efficiency mandates. As industries grow, the need for sustainable energy solutions has also grown, resulting in the implementation of waste heat recovery systems in various sectors, including manufacturing, oil & gas, chemicals, and power generation. Market growth is further bolstered with strict regulations being set by governments across the globe to minimize energy and carbon emission waste. Furthermore, increasing energy prices are forcing industries to improve the efficiency of processes by recycling and reusing waste heat. Technological innovation such as these have improved system efficiency— organic Rankine cycle (ORC) and thermoelectric generators have demonstrated, among others, that they are capable of being increasingly widely applicable. For example, there is a trend for waste heat recovery systems to be integrated with renewable energy systems to achieve an even greater level of sustainability. The investments in energy-efficient technologies are increasing, and with that, the market is set to witness healthy growth during the coming years, especially in the emerging economies having accelerated industrialization.
Restraint
The high initial investment and ongoing maintenance costs of waste heat recovery systems make adoption challenging, especially for SMEs with limited financial resources.
The installation of waste heat recovery systems requires a substantial initial investment, covering costs for advanced heat exchangers, turbines, piping, and installation. This high capital requirement can be an important blockage. Plus, adding these systems to existing industrial setups often requires significant alterations that also drive up costs. Even with installation, regular maintenance is necessary to maintain peak performance, which brings additional running costs. Maintaining heat exchangers, boilers, and thermoelectric components requires special personnel with technical skills, which further increases long-term costs. Even more, sectors facing varying waste heat sources find it difficult to fund investment, given that inconsistent heat supply hampers system performance. Waste heat recovery systems can provide long-term energy savings and operational efficiencies, but high upfront investment and high operating cost remain the two key factors limiting their penetration in the market, especially for small scale enterprise.
Opportunities
The growing adoption of waste heat recovery systems across industries like oil & gas, chemicals, and food processing is driven by the need for energy efficiency, cost reduction, and sustainability.
The adoption of waste heat recovery systems is expanding across various end-use industries, including oil & gas, chemicals, and food processing, due to the growing need for energy efficiency and cost reduction. In the oil & gas industry, waste heat recovery finds application in refineries and petrochemical facilities, where it helps to enhance operational effectiveness and mitigate fuel use. The chemical industry utilizes these to absorb excess heat from production processes to strengthen sustainability and reduce volumes of emissions. Likewise, in the food processing industry, waste heat recovery is used to improve the thermodynamic efficiency of drying, baking, and sterilization operations. With increasingly tighter environmental regulations and the cost of energy rising, new opportunities for advanced heat recovery technologies are in demand across many industries. The growing focus on energy conservation, along with government initiatives encouraging sustainable practices, is also driving the acceptance of waste heat recovery among various industrial sectors, thereby enhancing the growth potential of the market.
Challenges
Low-temperature heat recovery faces efficiency challenges due to limited heat transfer, material constraints, and high costs, restricting its widespread adoption.
Recovering heat from low-temperature sources presents significant technical challenges due to the limited efficiency of existing heat recovery technologies. Conventional systems (heat exchangers, thermoelectric generators, etc.) are ineffective at recovering and converting low-grade heat (below 150°C) into usable energy. The heat is transferred to a mechanical system that uses the temperature differential to perform work, either generating electricity or pumping heat, but the low temperature differential in HDE removes these options for profitable heat transfer/power generation. Moreover, the materials used in heat recovery systems are expected to be able to resist thermal cycling and corrosion, adding the expenses. Recent technologies such as Organic Rankine cycle (ORC) and advanced phase-change materials (PCMs) offer a potential solution; however, their application is limited due to high investment costs and lower efficiencies than conventional systems. Addressing these obstacles will necessitate progress in materials science, system design, and novel methods to improve the efficiency of heat conversion. Overcoming these obstacles is critical for optimal waste heat use and enhancing energy efficiency in industries.
By Application
The Power & Steam Generation segment dominated with a market share of over 48% in 2023, due to its extensive adoption across industries such as power plants, refineries, and chemical processing. These industries produce a lot of waste heat which could be efficiently reclaimed and used to create electricity or even steam in order to increase overall energy efficiency. Growing interest in sustainability and increasingly strict energy efficiency regulations are also driving demand for waste heat recovery in power and steam generation. Moreover, rapid industrialization and rising demand for economical energy solutions lead to the growth of the segment. This application becomes a focus on energy optimization by saving on fuel consumption, decreasing operational expense, and reducing carbon emissions through the use of advanced heat recovery technologies.
By End-Use
The petroleum refinery segment dominated with a market share of over 32% in 2023, due to its high energy consumption and vast potential for heat recovery. Refineries engage in energy-intensive processes including distillation, catalytic cracking and reforming, which create significant waste heat. It makes energy efficiency incorporating waste heat recovery boilers in these units results in reduced fuel consumption, operational costs and carbon footprint. In addition, increasing environmental regulations and the growing demand for sustainable energy solutions fuel adoption. Refinery heat recovery is used to support cogeneration, steam generation, and preheating etc.3. Heat recovery is one of the key strategies to optimize the fuel consumption in the refineries. Waste heat recovery systems will continue to be a critical investment in refining as refiners focus on optimizing their operations and regulations regarding world-wide emissions.
By Phase System
The Liquid-Liquid Phase System segment dominated with a market share of over 42% in 2023, due to its superior efficiency in capturing and utilizing waste heat from various industrial processes. Many industries including chemical manufacturing, petroleum refining & power generation heavily depend on this system to maximize energy efficiency and lower operating cost. This system improves thermal efficiency and reduces energy loss by conductive heat exchange between two liquid streams. The increasing focus on sustainability, energy efficiency, and strict environmental laws drives the adoption of the New Technologies. The Liquid-Liquid Phase System is forming an indispensable foundation for the future of the waste heat recovery market, as industries search for cost-effective solutions to both boost productivity whilst minimising carbon emissions.
Europe region dominated with a market share of over 32% in 2023, primarily due to stringent environmental regulations and sustainability policies set by the European Union. These regulations motivate industries to embrace energy-efficient technologies to minimize carbon emissions as well as optimize overall energy consumption. Moreover, another key driver for the adoption of industrial waste heat recovery systems in Europe is its well-established industry base with robust manufacturing activity (automotive and chemical) that can gain the most from these solutions. High investments for energy-efficient system integration in both government and private sectors are a major factor for the market growth owing to incentives for emissions norm compliance and operational efficiency. They compel renewable energy integration while reducing costs. Europe maintains its position as the world's leading market for waste heat recovery systems in different sectors, sustained by robust technological advancements and regulatory support.
North America is experiencing rapid growth in the Waste Heat Recovery System Market, driven by rising energy costs and the increasing need for energy-efficient solutions across industries. Companies across the region are increasingly embracing sustainable energy technologies in a bid to both lower operational costs and satisfy tough environmental regulations. In manufacturing, power generation, and other energy-intensive industries, government support supplements the funding and execution of waste heat recovery systems through programs and tax incentives. Furthermore, the increasing technological innovations and rising awareness towards reducing the carbon footprint is driving to adopt the solution for heat recovery across the industries. North America is expected to be the fastest-growing waste heat recovery system market, owing to robust industrial growth and aggressive sustainability efforts.
Need any customization research on Waste Heat Recovery System Market - Enquiry Now
Siemens AG (Heat Recovery Steam Generators, WHR Boilers)
Mitsubishi Heavy Industries, Ltd (Steam Turbines, Heat Recovery Systems)
General Electric (Heat Recovery Steam Generators, WHR Solutions)
ABB (Heat Exchangers, Industrial Waste Heat Recovery Solutions)
Boustead International Heaters (WHR Boilers, Fired Heaters)
Forbes Marshall (Waste Heat Boilers, Heat Exchangers)
Promec Engineering (Waste Heat Recovery Units, Heat Exchangers)
Terrapin (Organic Rankine Cycle (ORC) Systems, Heat Recovery Solutions)
Wood Plc (Amec Foster Wheeler) (Waste Heat Boilers, Heat Recovery Units)
Climeon (Low-Temperature Waste Heat Recovery Systems, ORC Technology)
Bosch Industries (Waste Heat Boilers, Heat Recovery Steam Generators)
Kessel GmbH (Industrial Heat Exchangers, Heat Recovery Systems)
AURA GmbH & Co. (ORC Systems, Industrial Waste Heat Recovery)
Exergy S.p.A. (ORC Power Plants, Waste Heat Recovery Solutions)
IHI Corporation (Heat Recovery Steam Generators, Industrial Boilers)
Echogen Power Systems (Supercritical CO₂ Waste Heat Recovery, Power Generation Systems)
Thermax Ltd. (Waste Heat Boilers, Heat Recovery Systems)
Ormat Technologies (ORC-based Waste Heat Recovery, Geothermal Power Solutions)
Econotherm Ltd. (Heat Pipes, Waste Heat Recovery Systems)
Kelvion (Plate Heat Exchangers, Air Preheaters)
Suppliers for (Waste heat recovery boilers, thermal oil heaters, steam turbines) on Waste Heat Recovery System Market
Urjatherm Industries Pvt. Ltd.
Transparent Energy Systems Private Ltd. (TESPL)
Thermin Power
Thermin Energy System Pvt. Ltd.
Opel Energy Systems
Nikhil Technochem Pvt. Ltd.
Forbes Marshall
Thermax Limited
RAJ Waste Heat Recovery Boilers
Heat Matrix Group
In April 2024: Climeon announced a partnership with Franman to expand its presence in Greece. Simultaneously, Climeon introduced its advanced Organic Rankine Cycle (ORC) waste heat-to-power technology, aimed at improving energy efficiency for shipbuilders and vessel owners as they combat climate change. The company is confident that this innovation will enhance sustainability in the maritime industry and contribute to the growing demand for eco-friendly solutions.
In September 2023: Solex acquired Econotherm Ltd., a UK-based leader in waste heat recovery technology. This acquisition strengthens Solex's ability to help clients reduce primary energy consumption in industrial production. Econotherm specializes in heat exchange across gas, liquid, and solid-to-solid systems.
| Report Attributes | Details |
| Market Size in 2023 | USD 66.26 Billion |
| Market Size by 2032 | USD 137.40 Billion |
| CAGR | CAGR of 8.44% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Pre Heating, Power & Steam Generation, Others) • By End-use (Petroleum Refinery, Power, Cement, Chemical, Metal Production & Casting, Pulp & Paper, Other) • By Phase System (Liquid-liquid phase system, Liquid gas phase system, Thermal regeneration) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Siemens AG, Mitsubishi Heavy Industries, Ltd., General Electric, ABB, Boustead International Heaters, Forbes Marshall, Promec Engineering, Terrapin, Wood Plc (Amec Foster Wheeler), Climeon, Bosch Industries, Kessel GmbH, AURA GmbH & Co., Exergy S.p.A., IHI Corporation, Echogen Power Systems, Thermax Ltd., Ormat Technologies, Econotherm Ltd., Kelvion. |
Ans: The Waste Heat Recovery System Market is expected to grow at a CAGR of 8.44% during 2024-2032.
Ans: The Waste Heat Recovery System Market was USD 66.26 billion in 2023 and is expected to reach USD 137.40 billion by 2032.
Ans: Rising industrialization and strict energy efficiency mandates are driving the adoption of waste heat recovery systems to reduce energy costs and carbon emissions.
Ans: The “Power & Steam Generation” segment dominated the Waste Heat Recovery System Market.
Ans: Asia-Pacific dominated the Waste Heat Recovery System Market in 2023
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics
4.1 Market Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trend Reporting
5.1 Energy Efficiency Improvement Rates, by Region (2020-2023)
5.2 Installed Capacity & Utilization Rates, by Region (2020-2023)
5.3 Downtime & Maintenance Metrics in Waste Heat Recovery Systems
5.4 Technological Adoption Trends, by Region
5.5 Export/Import Trends of Waste Heat Recovery Equipment, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Waste Heat Recovery System Market Segmentation, By Phase System
7.1 Chapter Overview
7.2 Pre Heating
7.2.1 Pre Heating Market Trends Analysis (2020-2032)
7.2.2 Pre Heating Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Power & Steam Generation
7.3.1 Power & Steam Generation Market Trends Analysis (2020-2032)
7.3.2 Power & Steam Generation Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Others
7.4.1 Others Market Trends Analysis (2020-2032)
7.4.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Waste Heat Recovery System Market Segmentation, By End-use
8.1 Chapter Overview
8.2 Petroleum Refinery
8.2.1 Petroleum Refinery Market Trends Analysis (2020-2032)
8.2.2 Petroleum Refinery Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Power
8.3.1 Power Market Trends Analysis (2020-2032)
8.3.2 Power Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Cement
8.4.1 Cement Market Trends Analysis (2020-2032)
8.4.2 Cement Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Chemical
8.5.1 Chemical Market Trends Analysis (2020-2032)
8.5.2 Chemical Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Metal Production & Casting
8.6.1 Metal Production & Casting Market Trends Analysis (2020-2032)
8.6.2 Metal Production & Casting Market Size Estimates and Forecasts to 2032 (USD Billion)
8.7 Pulp & Paper
8.7.1 Pulp & Paper Market Trends Analysis (2020-2032)
8.7.2 Pulp & Paper Market Size Estimates and Forecasts to 2032 (USD Billion)
8.8 Other
8.8.1 Other Market Trends Analysis (2020-2032)
8.8.2 Other Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Waste Heat Recovery System Market Segmentation, By Phase System
9.1 Chapter Overview
9.2 Liquid-liquid phase system
9.2.1 Liquid-liquid phase system Market Trends Analysis (2020-2032)
9.2.2 Liquid-liquid phase system Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Liquid gas phase system
9.3.1 Liquid gas phase system Market Trends Analysis (2020-2032)
9.3.2 Liquid gas phase system Market Size Estimates and Forecasts to 2032 (USD Billion)
9.4 Thermal regeneration
9.4.1 Thermal regeneration Market Trends Analysis (2020-2032)
9.4.2 Thermal regeneration Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.4 North America Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.5 North America Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.6.2 USA Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.6.3 USA Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.7.2 Canada Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.7.3 Canada Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.8.2 Mexico Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.2.8.3 Mexico Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.6.2 Poland Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.6.3 Poland Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.7.2 Romania Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.7.3 Romania Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.8.2 Hungary Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.8.3 Hungary Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.9.2 Turkey Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.9.3 Turkey Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.4 Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.5 Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.6.2 Germany Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.6.3 Germany Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.7.2 France Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.7.3 France Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.8.2 UK Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.8.3 UK Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.9.2 Italy Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.9.3 Italy Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.10.2 Spain Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.10.3 Spain Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.13.2 Austria Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.13.3 Austria Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4 Asia-Pacific
10.4.1 Trends Analysis
10.4.2 Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.4 Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.5 Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.6.2 China Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.6.3 China Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.7.2 India Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.7.3 India Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.8.2 Japan Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.8.3 Japan Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.9.2 South Korea Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.9.3 South Korea Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.10.2 Vietnam Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.10.3 Vietnam Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.11.2 Singapore Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.11.3 Singapore Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.12.2 Australia Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.12.3 Australia Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia-Pacific Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.4 Middle East Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.5 Middle East Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.6.2 UAE Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.6.3 UAE Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.7.2 Egypt Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.7.3 Egypt Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.9.2 Qatar Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.9.3 Qatar Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.4 Africa Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.5 Africa Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.6.2 South Africa Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.6.3 South Africa Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Waste Heat Recovery System Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.4 Latin America Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.5 Latin America Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.6.2 Brazil Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.6.3 Brazil Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.7.2 Argentina Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.7.3 Argentina Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.8.2 Colombia Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.8.3 Colombia Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Waste Heat Recovery System Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America Waste Heat Recovery System Market Estimates and Forecasts, By End-use (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America Waste Heat Recovery System Market Estimates and Forecasts, By Phase System (2020-2032) (USD Billion)
11. Company Profiles
11.1 Siemens AG
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Mitsubishi Heavy Industries, Ltd.
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 General Electric
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 ABB
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Boustead International Heaters
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Forbes Marshall
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Promec Engineering
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 Terrapin
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 Wood Plc (Amec Foster Wheeler)
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Climeon
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segmentation
By Application
Pre Heating
Power & Steam Generation
Others
By End-use
Petroleum Refinery
Power
Cement
Chemical
Metal Production & Casting
Pulp & Paper
Other
By Phase System
Liquid-liquid phase system
Liquid gas phase system
Thermal regeneration
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Detailed Volume Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Competitive Product Benchmarking
Geographic Analysis
Additional countries in any of the regions
Customized Data Representation
Detailed analysis and profiling of additional market players
The Waste to Energy Market Size was valued at USD 35.26 Billion in 2023 & is projected to reach $53.31 Bn by 2032, with a CAGR of 4.7% from 2024 to 2032.
The Lithium-Ion Batteries (Li-Ion) Market size was valued at USD 57.90 billion in 2023 and is expected to grow to USD 250.03 billion by 2032 and grow at a CAGR of 17.65% over the forecast period of 2024-2032.
The Sustainable Aviation Fuel Market size was valued at USD 563.1 Million in 2023 and is expected to grow to USD 25371.51 Million by 2031 and grow at a CAGR of 60.93% over the forecast period of 2024-2031.
The Remote Power Panel Market size was valued at USD 1.10 billion in 2023 and is expected to grow to USD 1.65 billion by 2031 with a growing CAGR of 5.2 % over the forecast period of 2024-2031.
The Carbon Capture Utilization Market size was valued at USD 1432.22 million in 2022 and is expected to grow to USD 5568.73 million by 2030 with a growing CAGR of 18.5% over the forecast period of 2023-2030.
The Solar Power Market Size was USD 262.20 Billion in 2023 & is projected to reach USD 435.52 Billion by 2032, growing at a CAGR of 5.8% from 2024 to 2032.
Hi! Click one of our member below to chat on Phone
© 2025 All Rights Reserved by SNS Insider Pvt Ltd
