Why is the demand for waste heat recovery systems (WHRS) operating below 230°C rising?

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Waste Heat Recovery Systems Market Share

Report ID: GMI1235
Published Date: Jun 2024
Report Format: PDF

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Waste Heat Recovery Systems Market Share

Waste Heat Recovery Systems Company Market Share Analysis, 2023

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Climeon, DÜRR Group, MITSUBISHI HEAVY INDUSTRIES LTD., Cochran, Thermax Limited are few of the key market players in the global waste heat recovery systems industry. Strategic collaborations, international business expansion, and mergers and acquisitions are among the key initiatives pursued by leading industry players. Additionally, these companies are heavily investing in research and development to gain a competitive edge over their counterparts.

Waste Heat Recovery Systems Market Companies

Major key players operating across the waste heat recovery systems industry are:

BIHL
AURA GmbH & CO. KG
Bosch Industriekessel GmbH
Climeon
Cochran
DÜRR Group
Echogen
EXERGY INTERNATIONAL SRL
Forbes Marshall
General Electric
IHI Power Systems Co., Ltd.
John Wood Group PLC
MITSUBISHI HEAVY INDUSTRIES LTD.
Ormat
Promec Engineering
Rentech Boilers
Siemens Energy
Sofinter S.p.a.
Thermax Limited
Viessmann

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of waste heat recovery systems was worth over USD 62.6 billion in 2023 and is projected to expand at 7.5% CAGR from 2024 to 2032, owing to the increasing focus toward industrial energy efficiency.

The electricity & steam generation application segment in the waste heat recovery systems industry is projected to surpass USD 64 billion by 2032, due to the ongoing efforts to reduce greenhouse gas emissions and rising power prices.

The waste heat recovery systems market share from the <230°C segment is estimated to depict over 8.2% CAGR through 2032, as WHRS operating below 230°C enable plant managers to reduce operational costs, enhance energy efficiency, and lower industrial CO2 emissions.

Asia Pacific waste heat recovery systems industry is predicted to account for more than USD 38 billion by 2032, owing to the growing awareness among businesses about the benefits of waste heat recovery systems.