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Metal Manufacturing Waste Heat Recovery System Market Trends

Report ID: GMI11581
Published Date: Sep 2024
Report Format: PDF

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Metal Manufacturing Waste Heat Recovery System Market Trends

The metal manufacturing waste heat recovery system industry is witnessing increased adoption of advanced technologies, such as steam Rankine cycle and organic Rankine cycle. These technologies offer improved efficiency in converting industrial waste heat into usable energy, thereby reshaping the market. Furthermore, the integration of digital and automated solutions for system optimization enables real-time monitoring and predictive maintenance, contributing to market expansion in the metal industry sector. In addition, various governments offer incentives, such as tax breaks or subsidies, to encourage industries to adopt energy-efficient technologies. These incentives are accelerating the adoption of waste heat recovery systems in the metal industry, especially in regions with aggressive climate action plans.

Authors: Ankit Gupta , Shashank Sisodia

Frequently Asked Questions (FAQ) :

The global market for metal manufacturing waste heat recovery system is projected to reach USD 21.6 billion by 2032, with a consistent CAGR of 7.1% from 2024 to 2032, driven by stricter environmental regulations and a rising demand for energy efficiency.

The electricity and steam generation application is predicted to hit USD 11.8 billion by 2032, due to the Increased steel and aluminum production along with rapid industrialization & urbanization.

The temperature segment exceeding 650°C is anticipated to grow at a CAGR of 7% through 2032, propelled by operational cost reductions in metal industries.

The U.S. market for metal manufacturing waste heat recovery systems is set to exceed USD 6 billion by 2032, as the industry increasingly adopts these systems to meet sustainability goals and comply with environmental regulations.

Some of the key players in the industry include AURA, Bosch Industriekessel, Climeon, Cochran, CTP TEAM, Forbes Marshall, IHI Corporation, John Wood Group, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Promec Engineering, Siemens Energy, Sofinter, Thermax, and Turboden.