Waste Heat Recovery Market Analysis

Waste Heat Recovery System Market is projected to be worth USD 127.2 billion by 2030, registering a CAGR of 9.2% during the forecast period (2021 - 2028). The market was valued at USD 59.44 Billion in 2020.

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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The Global Market to Regain Stability Post COVID-19 Pandemic

The outbreak of coronavirus in Wuhan City triggered a global pandemic, affecting a variety of businesses. As a result, demand for the Waste Heat Recovery industry has decreased. The adoption of different limitations and lockdowns to prevent the spread of the virus has hampered the growth of the Waste Heat Recovery market. Covid-19 has halted the production of several products, which has greatly affected the Waste Heat Recovery business. The pandemic has had a negative influence on the sale of machines and equipment, as well as the Waste Heat Recovery sector. The pandemic has hit major countries with large manufacturing divisions, including the United Kingdom, Germany, the United States, and China. Aside from that, the lockdown has harmed the companies' financial status, causing them to refrain from investing in machinery and equipment. The leading players are contributing to the stability of the Waste Heat Recovery market trends, and the market is projected to return to normal after the COVID-19 situation.

Market Segmentation

The global waste heat recovery market has been segmented into application and end-user.

By application, the global waste heat recovery market has been segmented into steam and power generation and pre-heating.

By end-user, the global waste heat recovery market has been segmented into petroleum refining, chemical, cement, metal production and casting, paper and pulp, others.

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Regional Analysis

North America to Dominate the Global Market

North America dominates the market and will have the biggest market share in 2020, accounting for 33% of the total. Rising onsite power generation and excellent economic stability have boosted demand for the Waste Heat Recovery industry in this region. Aside from that, firms in North America are heavily spending on the implementation of energy-efficient systems; as a result, North America's contribution will aid in the ruse.

APAC to Witness Fastest Growth

Due to industrialization and economic development, the Asia Pacific region is also experiencing rapid expansion in the Waste Heat Recovery market. The European region will also have a large place for the Waste Heat Recovery industry due to government environmental concerns. Demand for the Waste Heat Recovery market is being driven using energy-efficient technology.

Key Companies Profiled

• Alstom SA (France),
• ABB Ltd. (Switzerland),
• Amec Foster Wheeler (U.K.),
• Ormat Technologies Inc. (U.S.),
• General Electric Co. (U.S.),
• Mitsubishi Heavy Industries Ltd. (Japan).
• Echogen Power Systems Inc. (U.S.),
• Econotherm Ltd. (U.K.),
• Thermax Limited (India),
• Siemens AG (Germany),
• China Energy Recovery Inc. (China),
• Cool Energy Inc. (U.S.)