The global Waste Heat Recovery market is projected to grow at a CAGR of 9.2% by 2034
The Waste Heat Recovery Market Report 2024-2034: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
The Surge in Environmental Consciousness and the Imperative to Reduce Carbon Footprints.
The waste heat recovery market presents a dynamic landscape in the realm of industrial energy efficiency, offering a compelling avenue for sustainable practices and economic gains. Waste heat, a by-product of industrial processes, is harnessed through innovative technologies to drive electricity generation and enhance mechanical work, thereby mitigating energy consumption and reducing operational costs. This executive summary provides a concise overview of the WHR market, encapsulating key drivers, opportunities, challenges, and competitive landscapes.
The waste heat recovery market unfolds a myriad of opportunities across various sectors. The integration of waste heat recovery in electricity generation provides an attractive proposition for industries with high electricity consumption, offering not only reduced energy costs but also opportunities to sell surplus electricity to the grid. Additionally, the prospect of selling recovered heat externally, especially in industrial clusters, opens up new revenue streams. Technological advancements and research initiatives further underscore opportunities for innovation and the development of more efficient waste heat recovery systems.
Integration of Waste Heat Recovery Systems into Existing Industrial Processes
The seamless integration of waste heat recovery (WHR) systems into existing industrial processes emerges as a critical challenge within the market. Industrial facilities often grapple with the complexities associated with retrofitting or incorporating new technologies into their established operations. The integration process involves aligning waste heat recovery systems with diverse and often intricate industrial processes, demanding a meticulous understanding of the specific requirements and nuances of each facility.
One key challenge lies in the diverse nature of industrial operations, where processes vary significantly across sectors such as manufacturing, energy production, and chemical processing. Each industry possesses unique operational parameters, making it imperative for waste heat recovery systems to be tailored to the specific characteristics and demands of the given industrial setting. This customization requirement adds a layer of complexity, hindering a one-size-fits-all approach and necessitating a careful examination of each facility's intricacies.
What Questions Should You Ask before Buying a Market Research Report?
How is the waste heat recovery market evolving?
What is driving and restraining the waste heat recovery market?
How will each waste heat recovery submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
How will the market shares for each waste heat recovery submarket develop from 2024 to 2034?
What will be the main driver for the overall market from 2024 to 2034?
Will leading waste heat recovery markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
Who are the leading players and what are their prospects over the forecast period?
What are the waste heat recovery projects for these leading companies?
How will the industry evolve during the period between 2024 and 2034? What are the implications of waste heat recovery projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the waste heat recovery market?
Where is the waste heat recovery market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the waste heat recovery market today, and over the next 10 years:
Our 368-page report provides 116 tables and 172 charts/graphs exclusively to you.
The report highlights key lucrative areas in the industry so you can target them - NOW.
It contains in-depth analysis of global, regional and national sales and growth.
It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the waste heat recovery market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2034 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2034, our new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising waste heat recovery prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, "V", "L", "W" and "U" are discussed in this report.
Segments Covered in the Report
Market Segment by Temperature Range
High-temperature (>400°C)
Medium-temperature (100-400°C)
Low-temperature (<100°C)
Market Segment by Application
Preheating
Power Generation
Steam Generation
Other Applications
Market Segment by End-use Industry
Cement Industry
Iron and steel Industry
Chemical Industry
Glass Industry
Other End-use Industries
Market Segment by Technology
Heat Exchangers
Turbo-expanders
Organic Rankine Cycles (ORCs)
Heat Pumps
Kalina Cycles
Other Technologies
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets:
North America
U.S.
Canada
Europe
Germany
Spain
United Kingdom
France
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
The report also includes profiles and for some of the leading companies in the Waste Heat Recovery Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth
ABB Limited
Clyde Bergemann Power Group
Cool Energy Inc
Echogen Power Systems
Econotherm Ltd
General Electric Company
John Wood Group plc
JP Steel Plantech Co
Mitsubishi Heavy Industries, Ltd
Ormat Technologies, Inc.
PENTA Engineering Corporation
Siemens AG
Sigma Thermal, Inc
Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
Transparent Energy Systems Private Ltd
Overall world revenue for Waste Heat Recovery Market, 2024 to 2034 in terms of value the market will surpass US$84.0 billion in 2024, our work calculates. We predict strong revenue growth through to 2034. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Waste Heat Recovery Market, 2024 to 2034 report help you?
In summary, our 360+ page report provides you with the following knowledge:
Revenue forecasts to 2034 for Waste Heat Recovery Market, 2024 to 2034 Market, with forecasts for temperature range, application, end-use industry, and technology, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Waste Heat Recovery Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Waste Heat Recovery Market, 2024 to 2034.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Waste Heat Recovery Market, 2024 to 2034, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Waste Heat Recovery Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who Is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Visiongain Reports
- 1.10 About Visiongain
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 Increasing Need for Energy-Efficient Systems Driving the Market
- 3.2.1.2 Potential for Financial Incentives and Subsidies for Adopting Waste Heat Recovery Technologies Driving the Market
- 3.2.1.3 Optimizing Waste Heat and Enhancing Plant Efficiency and Power Generation Driving the Market
- 3.2.2 Market Restraining Factors
- 3.2.2.1 Integration of Waste Heat Recovery Systems into Existing Industrial Processes
- 3.2.2.2 High Capital Investment Hinder the Market Growth
- 3.2.2.3 The Effectiveness of Waste Heat Recovery is Highly Dependent on the Temperature and Quality of the Available Waste Heat
- 3.2.3 Market Opportunities
- 3.2.3.1 Increasing Demand for Waste Heat Recovery Systems in Preheating Segment
- 3.2.3.2 Collaborations and Partnerships are Opportunities for the Market Players
- 3.2.3.3 Rise in the Technological Advancements
- 3.3 Porter's Five Forces Analysis
- 3.3.1 Bargaining Power of Suppliers (Medium)
- 3.3.2 Bargaining Power of Buyers (Medium to High)
- 3.3.3 Competitive Rivalry (High)
- 3.3.4 Threat from Substitutes (Low)
- 3.3.5 Threat of New Entrants (Low)
- 3.4 COVID-19 Impact Analysis
- 3.4.1 "V-Shaped Recovery"
- 3.4.2 "U-Shaped Recovery"
- 3.4.3 "W-Shaped Recovery"
- 3.4.4 "L-Shaped Recovery"
- 3.5 PEST Analysis
4 Waste Heat Recovery Market Analysis by Temperature Range
- 4.1 Key Findings
- 4.2 Temperature Range Segment: Market Attractiveness Index
- 4.3 Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 4.4 High-temperature (>400°C)
- 4.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.4.2 Market Share by Region, 2024 & 2034 (%)
- 4.5 Medium-temperature (100-400°C)
- 4.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.5.2 Market Share by Region, 2024 & 2034 (%)
- 4.6 Low-temperature (<100°C)
- 4.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.6.2 Market Share by Region, 2024 & 2034 (%)
5 Waste Heat Recovery Market Analysis by Application
- 5.1 Key Findings
- 5.2 Application Segment: Market Attractiveness Index
- 5.3 Waste Heat Recovery Market Size Estimation and Forecast by Application
- 5.4 Preheating
- 5.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.4.2 Market Share by Region, 2024 & 2034 (%)
- 5.5 Power Generation
- 5.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.5.2 Market Share by Region, 2024 & 2034 (%)
- 5.6 Steam Generation
- 5.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.6.2 Market Share by Region, 2024 & 2034 (%)
- 5.7 Other Applications
- 5.7.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.7.2 Market Share by Region, 2024 & 2034 (%)
6 Waste Heat Recovery Market Analysis by End-use Industry
- 6.1 Key Findings
- 6.2 End-use Industry Segment: Market Attractiveness Index
- 6.3 Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 6.4 Cement Industry
- 6.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 6.4.2 Market Share by Region, 2024 & 2034 (%)
- 6.5 Iron and steel Industry
- 6.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 6.5.2 Market Share by Region, 2024 & 2034 (%)
- 6.6 Chemical Industry
- 6.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 6.6.2 Market Share by Region, 2024 & 2034 (%)
- 6.7 Glass Industry
- 6.7.1 Market Size by Region, 2024-2034 (US$ Billion)
- 6.7.2 Market Share by Region, 2024 & 2034 (%)
- 6.8 Other End-use Industries
- 6.8.1 Market Size by Region, 2024-2034 (US$ Billion)
- 6.8.2 Market Share by Region, 2024 & 2034 (%)
7 Waste Heat Recovery Market Analysis by Technology
- 7.1 Key Findings
- 7.2 Technology Segment: Market Attractiveness Index
- 7.3 Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 7.4 Heat Exchangers
- 7.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.4.2 Market Share by Region, 2024 & 2034 (%)
- 7.5 Turbo-expanders
- 7.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.5.2 Market Share by Region, 2024 & 2034 (%)
- 7.6 Organic Rankine Cycles (ORCs)
- 7.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.6.2 Market Share by Region, 2024 & 2034 (%)
- 7.7 Heat Pumps
- 7.7.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.7.2 Market Share by Region, 2024 & 2034 (%)
- 7.8 Kalina Cycles
- 7.8.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.8.2 Market Share by Region, 2024 & 2034 (%)
- 7.9 Other Technologies
- 7.9.1 Market Size by Region, 2024-2034 (US$ Billion)
- 7.9.2 Market Share by Region, 2024 & 2034 (%)
8 Waste Heat Recovery Market Analysis by Region
- 8.1 Key Findings
- 8.2 Regional Market Size Estimation and Forecast
9 North America Waste Heat Recovery Market Analysis
- 9.1 Key Findings
- 9.2 North America Waste Heat Recovery Market Attractiveness Index
- 9.3 North America Waste Heat Recovery Market by Country, 2024, 2029 & 2034 (US$ Billion)
- 9.4 North America Waste Heat Recovery Market Size Estimation and Forecast
- 9.5 North America Waste Heat Recovery Market Size Estimation and Forecast by Country
- 9.6 North America Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 9.7 North America Waste Heat Recovery Market Size Estimation and Forecast by Application
- 9.8 North America Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 9.9 North America Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 9.10 U.S. Waste Heat Recovery Market Analysis
- 9.11 Canada Waste Heat Recovery Market Analysis
10 Europe Waste Heat Recovery Market Analysis
- 10.1 Key Findings
- 10.2 Europe Waste Heat Recovery Market Attractiveness Index
- 10.3 Europe Waste Heat Recovery Market by Country, 2024, 2029 & 2034 (US$ Billion)
- 10.4 Europe Waste Heat Recovery Market Size Estimation and Forecast
- 10.5 Europe Waste Heat Recovery Market Size Estimation and Forecast by Country
- 10.6 Europe Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 10.7 Europe Waste Heat Recovery Market Size Estimation and Forecast by Application
- 10.8 Europe Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 10.9 Europe Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 10.10 Germany Waste Heat Recovery Market Analysis
- 10.11 UK Waste Heat Recovery Market Analysis
- 10.12 France Waste Heat Recovery Market Analysis
- 10.13 Italy Waste Heat Recovery Market Analysis
- 10.14 Spain Waste Heat Recovery Market Analysis
- 10.15 Rest of Europe Waste Heat Recovery Market Analysis
11 Asia-Pacific Waste Heat Recovery Market Analysis
- 11.1 Key Findings
- 11.2 Asia-Pacific Waste Heat Recovery Market Attractiveness Index
- 11.3 Asia-Pacific Waste Heat Recovery Market by Country, 2024, 2029 & 2034 (US$ Billion)
- 11.4 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast
- 11.5 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast by Country
- 11.6 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 11.7 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast by Application
- 11.8 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 11.9 Asia-Pacific Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 11.10 China Waste Heat Recovery Market Analysis
- 11.11 India Waste Heat Recovery Market Analysis
- 11.12 Japan Waste Heat Recovery Market Analysis
- 11.13 South Korea Waste Heat Recovery Market Analysis
- 11.14 Australia Waste Heat Recovery Market Analysis
- 11.15 Rest of Asia-Pacific Waste Heat Recovery Market Analysis
12 Middle East and Africa Waste Heat Recovery Market Analysis
- 12.1 Key Findings
- 12.2 Middle East and Africa Waste Heat Recovery Market Attractiveness Index
- 12.3 Middle East and Africa Waste Heat Recovery Market by Country, 2024, 2029 & 2034 (US$ Billion)
- 12.4 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast
- 12.5 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast by Country
- 12.6 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 12.7 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast by Application
- 12.8 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 12.9 Middle East and Africa Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 12.10 GCC Waste Heat Recovery Market Analysis
- 12.11 South Africa Waste Heat Recovery Market Analysis
- 12.12 Rest of Middle East & Africa Waste Heat Recovery Market Analysis
13 Latin America Waste Heat Recovery Market Analysis
- 13.1 Key Findings
- 13.2 Latin America Waste Heat Recovery Market Attractiveness Index
- 13.3 Latin America Waste Heat Recovery Market by Country, 2024, 2029 & 2034 (US$ Billion)
- 13.4 Latin America Waste Heat Recovery Market Size Estimation and Forecast
- 13.5 Latin America Waste Heat Recovery Market Size Estimation and Forecast by Country
- 13.6 Latin America Waste Heat Recovery Market Size Estimation and Forecast by Temperature Range
- 13.7 Latin America Waste Heat Recovery Market Size Estimation and Forecast by Application
- 13.8 Latin America Waste Heat Recovery Market Size Estimation and Forecast by End-use Industry
- 13.9 Latin America Waste Heat Recovery Market Size Estimation and Forecast by Technology
- 13.10 Brazil Waste Heat Recovery Market Analysis
- 13.11 Mexico Waste Heat Recovery Market Analysis
- 13.12 Rest of Latin America Waste Heat Recovery Market Analysis
14 Company Profiles
- 14.1 Competitive Landscape, 2022
- 14.2 Strategic Outlook
- 14.3 ABB Limited
- 14.3.1 Company Snapshot
- 14.3.2 Company Overview
- 14.3.3 Financial Analysis
- 14.3.3.1 Net Revenue, 2018-2022
- 14.3.3.2 R&D, 2018-2022
- 14.3.3.3 Business Segment Revenue Share, 2022 (%)
- 14.3.4 Product Benchmarking
- 14.3.5 Strategic Outlook
- 14.4 John Wood Group plc
- 14.4.1 Company Snapshot
- 14.4.2 Company Overview
- 14.4.3 Financial Analysis
- 14.4.3.1 Net Revenue, 2018-2022
- 14.4.3.2 Regional Revenue Share, 2022 (%)
- 14.4.3.3 Business Segment Revenue Share, 2022 (%)
- 14.4.4 Product Benchmarking
- 14.4.5 Strategic Outlook
- 14.5 Ormat Technologies, Inc.
- 14.5.1 Company Snapshot
- 14.5.2 Company Overview
- 14.5.3 Financial Analysis
- 14.5.3.1 Net Revenue, 2018-2022
- 14.5.3.2 R&D, 2018-2022
- 14.5.3.3 Regional Revenue Share, 2022 (%)
- 14.5.3.4 Business Segment Revenue Share, 2022 (%)
- 14.5.4 Product Benchmarking
- 14.5.5 Strategic Outlook
- 14.6 General Electric Company
- 14.6.1 Company Snapshot
- 14.6.2 Company Overview
- 14.6.3 Financial Analysis
- 14.6.3.1 Net Revenue, 2018-2022
- 14.6.3.2 R&D, 2018-2022
- 14.6.3.3 Business Segment Revenue Share, 2022 (%)
- 14.6.4 Product Benchmarking
- 14.7 Mitsubishi Heavy Industries, Ltd
- 14.7.1 Company Snapshot
- 14.7.2 Company Overview
- 14.7.3 Financial Analysis
- 14.7.3.1 Net Revenue, 2019-2023
- 14.7.3.2 R&D, 2019-2023
- 14.7.3.3 Regional Revenue Share, 2023 (%)
- 14.7.3.4 Business Segment Revenue Share, 2023 (%)
- 14.7.4 Product Benchmarking
- 14.7.5 Strategic Outlook
- 14.8 Siemens AG
- 14.8.1 Company Snapshot
- 14.8.2 Company Overview
- 14.8.3 Financial Analysis
- 14.8.3.1 Net Revenue, 2019-2023
- 14.8.3.2 R&D, 2019-2023
- 14.8.3.3 Regional Revenue Share, 2023 (%)
- 14.8.3.4 Business Segment Revenue Share, 2023 (%)
- 14.8.4 Product Benchmarking
- 14.8.5 Strategic Outlook
- 14.9 Echogen Power Systems
- 14.9.1 Company Snapshot
- 14.9.2 Company Overview
- 14.9.3 Product Benchmarking
- 14.10 Econotherm Ltd
- 14.10.1 Company Snapshot
- 14.10.2 Company Overview
- 14.10.3 Product Benchmarking
- 14.11 Cool Energy Inc
- 14.11.1 Company Snapshot
- 14.11.2 Company Overview
- 14.11.3 Product Benchmarking
- 14.12 Transparent Energy Systems Private Ltd
- 14.12.1 Company Snapshot
- 14.12.2 Company Overview
- 14.12.3 Product Benchmarking
- 14.13 JP Steel Plantech Co
- 14.13.1 Company Snapshot
- 14.13.2 Company Overview
- 14.13.3 Product Benchmarking
- 14.14 TMEIC
- 14.14.1 Company Snapshot
- 14.14.2 Company Overview
- 14.14.3 Product Benchmarking
- 14.14.4 Strategic Outlook
- 14.15 Clyde Bergemann Power Group
- 14.15.1 Company Snapshot
- 14.15.2 Company Overview
- 14.15.3 Product Benchmarking
- 14.16 Sigma Thermal, Inc
- 14.16.1 Company Snapshot
- 14.16.2 Company Overview
- 14.16.3 Product Benchmarking
- 14.17 PENTA Engineering Corporation
- 14.17.1 Company Snapshot
- 14.17.2 Company Overview
- 14.17.3 Product Benchmarking
- 14.17.4 Strategic Outlook
15 Conclusion and Recommendations
- 15.1 Concluding Remarks from Visiongain
- 15.2 Recommendations for Market Players
