Waste Heat Recovery Systems Market Analysis

Waste Heat Recovery Systems Market Analysis

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Based on application, the electricity & steam generation application industry is expected to surpass over USD 64 billion by 2032. The implementation of waste heat recovery systems (WHRS) for electricity and steam generation will be driven by ongoing efforts to reduce greenhouse gas emissions and rising power prices. Key factors fuelling corporate growth include a heightened focus on improving plant efficiency and a growing need for on-site power production.
 

Based on temperature, the Waste heat recovery systems (WHRS) operating below 230°C will grow at a rate of over 8.2% through 2032 and are predominantly used in medium-sized sectors such as pulp and paper, food processing, and chemicals. These systems enable plant managers to reduce operational costs, enhance energy efficiency, and lower industrial CO2 emissions. The ongoing expansion of co-generation units for environmentally friendly waste heat utilization will further support industrial growth.
 

Asia Pacific waste heat recovery systems market is anticipated to exceed over USD 38 billion by 2032. Growing awareness among businesses about the benefits of waste heat recovery systems including increased understanding of energy conservation, sustainability, and potential cost savings has encouraged industries to explore and implement these technologies across the region.
 

The U.S. waste heat recovery system market is experiencing significant growth driven by stringent environmental regulations, rising energy costs and a strong emphasis on sustainability. Increasing awareness among industries about the economic benefits of waste heat recovery systems such as reduced energy consumption and operating costs is propelling market demand.