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Europe Waste Heat Recovery Systems Market Size

Report ID: GMI7299
Published Date: Jun 2024
Report Format: PDF

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Europe Waste Heat Recovery Systems Market Size

Europe Waste Heat Recovery Systems Market size was valued over USD 21.4 billion in 2023 and is set to grow at a rate of over 6.9% up to 2032. The rising energy demand, strong industrial sector expansion coupled with the implementation of energy efficiency regulations has spurred the adoption of waste heat recovery systems (WHRS).

Europe Waste Heat Recovery Systems Market

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Heightened requirements for continuous and reliable electricity along with shifting focus toward energy optimization and integration of renewable sources are key drivers bolstering the deployment of these systems.

Europe Waste Heat Recovery Systems Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Waste Heat Recovery Systems Market Size in 2023:	USD 21.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.9%
2032 Value Projection:	USD 37.5 Billion
Historical Data for:	2021 – 2023
No. of Pages:	80
Tables, Charts & Figures:	12
Segments covered:	Application, Temperature, End Use, & Country
Growth Drivers:	Rising focus to reduce carbon footprint Stringent emission norms
Pitfalls & Challenges:	High initial investment

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The widespread establishment of fossil fuel-based plants to address escalating electricity demands has notably intensified the emission of CO2 and other greenhouse gases. For instance, as per NOAA's Global Monitoring Lab, the global average atmospheric carbon dioxide reached 417.06 parts per million ("ppm") in 2022 an increase of 2.13 ppm from 2021, marking the 11th consecutive year in which the atmospheric carbon dioxide level rose by more than 2 ppm. However, mounting apprehensions regarding the climatic and environmental repercussions of fossil fuel consumption, coupled with stringent government regulations aimed at bolstering environmental security have prompted a heightened adoption of resource recovery technologies.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

Europe waste heat recovery systems market size was valued at over USD 21.4 billion in 2023 and is set to grow at over 6.9% CAGR from 2024 to 2032 owing to the stringent emission norms.

The electricity & steam generation segment in the Europe waste heat recovery systems industry is anticipated to reach over USD 20.5 billion by 2032 favored by the shifting trend towards maximizing resource efficiency and reducing environmental impact.

Germany waste heat recovery system market size will exceed USD 7 billion by 2032 driven by the implementation of energy efficiency standards and initiatives aimed at reducing greenhouse gas emissions.

BIHL, AURA, Bosch Industriekessel GmbH, Climeon, Cochran, Dürr Group, EXERGY INTERNATIONAL SRL, Forbes Marshall, Fortum, General Electric, HRS, and MITSUBISHI HEAVY INDUSTRIES, LTD. among others.