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Electricity & Steam Generation Waste Heat Recovery Systems Market Trends

Report ID: GMI7917
Published Date: Jan 2024
Report Format: PDF

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Electricity & Steam Generation Waste Heat Recovery Systems Market Trends

Increasing global push towards sustainable energy practices along with rising trend in the integration of advanced technologies to enhance the performance and efficiency of WHRS, resulting in optimized electricity and steam generation will complement the business scenario. As industries increasingly focus on efficiency and environmental responsibility, WHRS plays a crucial role in harnessing waste heat from electricity and steam generation processes.

Stringent environmental regulations and the rising demand for clean energy solutions are propelling the adoption of WHRS in various sectors. The market is experiencing a shift towards modular and scalable WHRS solutions, allowing industries to tailor systems to their specific electricity and steam generation needs. As industries prioritize reducing their carbon footprint, WHRS trends indicate a growing reliance on waste heat recovery as a sustainable and economically viable solution for electricity and steam generation.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of electricity & steam generation waste heat recovery systems was worth over USD 27.2 billion in 2023 and is set to record over 10.9% CAGR from 2024 to 2032, owing to increasing technological advancements in technology, coupled with supportive government initiatives to harness waste heat for energy generation.

Steam rankine cycle WHRS segment will observe over 9.9% CAGR from 2024 to 2032, driven by key features such as reduced greenhouse gas emissions, application flexibility, and high energy efficiency.

Asia Pacific electricity & steam generation waste heat recovery systems market will record over 11.9% CAGR during 2024 and 2032 as the region has established ambitious targets for energy efficiency to mitigate greenhouse gas emissions and preserve energy resources.

AURA, BIHL, Bosch Industriekessel GmbH, Climeon, Cochran, Dürr Group, EXERGY INTERNATIONAL SRL, Forbes Marshall, Fortum, General Electric, HRS, IHI Corporation, John Wood Group PLC, MITSUBISHI HEAVY INDUSTRIES, LTD., Ormat, Promec Engineering, Rentech Boilers, Siemens Energy, Sofinter S.p.a, Thermax Limited, and Viessman.