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

The waste heat recovery systems market share from the Read More

Home > Energy & Power > Waste Management > Waste Heat Recovery Systems > Waste Heat Recovery Systems Market

Waste Heat Recovery Systems Market Trends

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

Download Free Sample

Waste Heat Recovery Systems Market Trends

Strict government mandates on emissions coupled with the growing importance of energy conservation are set to boost the market size of waste heat recovery systems (WHRS). Key application sectors with high waste heat recovery potential include cement, glass, heavy metal manufacturing, chemical manufacturing, and petroleum refining. WHRS are expected to gain prominence in the coming years due to their ability to reduce operating costs and generate power and heat on-site. Government initiatives aimed at reducing the carbon footprint while enhancing energy efficiency will drive market growth. Ongoing technological advancements have significantly improved system efficiency and reduced costs, stimulating business expansion.

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.