CHEMICALS & MATERIALS
Global Waste Heat Recovery Systems Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Waste Heat Recovery Systems Market, By Application (Pre-Heating, Electricity and Steam Generation, and Others), Temperature (<230˚C, 230˚C - 650˚C, and >650˚C), Phase System Outlook (Liquid-liquid Phase System, Liquid-gas Phase System, and Thermal Regeneration), End Use (Petroleum Refinery, Power, Cement, Chemical, Metal Production and Casting, Pulp & Paper, Food and Beverage, and Others), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Waste Heat Recovery Systems market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
The global waste heat recovery systems market encompasses a range of technologies and solutions designed to capture and utilize waste heat generated from various industrial processes and applications.
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Market Dynamics
DRIVERS
- Rising focus to reduce carbon footprint
- Stringent emission norms
RESTRAINTS
- High initial investment
- Space and infrastructure limitations
OPPORTUNITIES
- Integration with renewable energy
- Combined Heat and Power (CHP) systems
CHALLENGES
- Fluctuating energy prices
- Performance and reliability concerns
SEGMENTATION
- Application
- Pre-Heating
- Electricity and Steam Generation
- Steam Rankine Cycle
- Organic Rankine Cycle
- Kaline Cycle
- Others
- Temperature
- <230˚C
- 230˚C - 650˚C
- >650˚C
- Phase System Outlook
- Liquid-liquid Phase System
- Liquid-gas Phase System
- Thermal Regeneration
- End Use
- Petroleum Refinery
- Power
- Cement
- Chemical
- Metal Production and Casting
- Pulp & Paper
- Food and Beverage
- Others
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Climeon
- DURR Group
- MITSUBISHI INDUSTRIES LTD.
- Cochran
- Thermax Limited
- BIHL
- AURA GmbH & CO.KG
- Echogen
- Forbes Marshall
- John Wood Group PLC
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Waste Heat Recovery Systems Market, by Application
- 3.2 Global Waste Heat Recovery Systems Market, by Temperature
- 3.3 Global Waste Heat Recovery Systems Market, by Phase System Outlook
- 3.4 Global Waste Heat Recovery Systems Market, by End Use
- 3.5 Global Waste Heat Recovery Systems Market, by Geography
- 3.6 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Focus on energy efficiency
- 5.1.2 Government initiatives and incentives
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Rising focus to reduce carbon footprint
- 5.2.2 Stringent emission norms
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High initial investment
- 5.3.2 Space and infrastructure limitations
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Integration with renewable energy
- 5.4.2 Combined Heat and Power (CHP) systems
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Fluctuating energy prices
- 5.5.2 Performance and reliability concerns
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL WASTE HEAT RECOVERY SYSTEMS MARKET, BY APPLICATION
- 6.1 Application Summary
- 6.2 Market Attractive Index
- 6.3 Global Waste Heat Recovery Systems Market, by Application (2019-2032)
- SECTION 7 - GLOBAL WASTE HEAT RECOVERY SYSTEMS MARKET, BY TEMPERATURE
- 7.1 Temperature Summary
- 7.2 Market Attractive Index
- 7.3 Global Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- SECTION 8 - GLOBAL WASTE HEAT RECOVERY SYSTEMS MARKET, BY PHASE SYSTEM OUTLOOK
- 8.1 Phase System Outlook Summary
- 8.2 Market Attractive Index
- 8.3 Global Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- SECTION 9 - GLOBAL WASTE HEAT RECOVERY SYSTEMS MARKET, BY END USE
- 9.1 End Use Summary
- 9.2 Market Attractive Index
- 9.3 Global Waste Heat Recovery Systems Market, by End Use (2019-2032)
- SECTION 10 - GLOBAL WASTE HEAT RECOVERY SYSTEMS MARKET, BY GEOGRAPHY
- 10.1 Regional Summary
- 10.2 Market Attractive Index
- 10.3 Global Waste Heat Recovery Systems Market, by Geography (2019-2032)
- SECTION 11 - NORTH AMERICA WASTE HEAT RECOVERY SYSTEMS MARKET
- 11.1 North America Summary
- 11.2 Market Attractive Index
- 11.3 North America Waste Heat Recovery Systems Market, by Application (2019-2032)
- 11.4 North America Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- 11.5 North America Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- 11.6 North America Waste Heat Recovery Systems Market, by End Use (2019-2032)
- 11.7 North America Waste Heat Recovery Systems Market, by Country (2019-2032)
- 11.7.1 U.S.
- 11.7.2 Canada
- 11.7.3 Mexico
- 11.7.4 Rest of North America
- SECTION 12 - EUROPE WASTE HEAT RECOVERY SYSTEMS MARKET
- 12.1 Europe Summary
- 12.2 Market Attractive Index
- 12.3 Europe Waste Heat Recovery Systems Market, by Application (2019-2032)
- 12.4 Europe Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- 12.5 Europe Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- 12.6 Europe Waste Heat Recovery Systems Market, by End Use (2019-2032)
- 12.7 Europe Waste Heat Recovery Systems Market, by Country (2019-2032)
- 12.7.1 Germany
- 12.7.2 U.K.
- 12.7.3 France
- 12.7.4 Italy
- 12.7.5 Spain
- 12.7.6 Russia
- 12.7.7 The Netherlands
- 12.7.8 Belgium
- 12.7.9 Turkey
- 12.7.10 Rest of Europe
- SECTION 13 - ASIA-PACIFIC WASTE HEAT RECOVERY SYSTEMS MARKET
- 13.1 Asia-Pacific Summary
- 13.2 Market Attractive Index
- 13.3 Asia-Pacific Waste Heat Recovery Systems Market, by Application (2019-2032)
- 13.4 Asia-Pacific Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- 13.5 Asia-Pacific Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- 13.6 Asia-Pacific Waste Heat Recovery Systems Market, by End Use (2019-2032)
- 13.7 Asia-Pacific Waste Heat Recovery Systems Market, by Country (2019-2032)
- 13.7.1 China
- 13.7.2 India
- 13.7.3 Japan
- 13.7.4 South Korea
- 13.7.5 Singapore
- 13.7.6 Malaysia
- 13.7.7 Australia
- 13.7.8 Thailand
- 13.7.9 Philippines
- 13.7.10 Rest of Asia-Pacific
- SECTION 14 - SOUTH AMERICA WASTE HEAT RECOVERY SYSTEMS MARKET
- 14.1 South America Summary
- 14.2 Market Attractive Index
- 14.3 South America Waste Heat Recovery Systems Market, by Application (2019-2032)
- 14.4 South America Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- 14.5 South America Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- 14.6 South America Waste Heat Recovery Systems Market, by End Use (2019-2032)
- 14.7 South America Waste Heat Recovery Systems Market, by Country (2019-2032)
- 14.7.1 Brazil
- 14.7.2 Argentina
- 14.7.3 Chile
- 14.7.4 Colombia
- 14.7.5 Rest of South America
- SECTION 15 - MIDDLE EAST AND AFRICA WASTE HEAT RECOVERY SYSTEMS MARKET
- 15.1 Middle East and Africa Summary
- 15.2 Market Attractive Index
- 15.3 Middle East and Africa Waste Heat Recovery Systems Market, by Application (2019-2032)
- 15.4 Middle East and Africa Waste Heat Recovery Systems Market, by Temperature (2019-2032)
- 15.5 Middle East and Africa Waste Heat Recovery Systems Market, by Phase System Outlook (2019-2032)
- 15.6 Middle East and Africa Waste Heat Recovery Systems Market, by End Use (2019-2032)
- 15.7 Middle East and Africa Waste Heat Recovery Systems Market, by Country (2019-2032)
- 15.7.1 Kingdom of Saudi Arabia
- 15.7.2 South Africa
- 15.7.3 U.A.E.
- 15.7.4 Egypt
- 15.7.5 Rest of Middle East and Africa
- SECTION 16 - COMPANY SHARE ANALYSIS
- 16.1 Global Waste Heat Recovery Systems Market, Company Share Analysis
- 16.2 North America Waste Heat Recovery Systems Market, Company Share Analysis
- 16.3 Europe Waste Heat Recovery Systems Market, Company Share Analysis
- 16.4 Asia-Pacific Waste Heat Recovery Systems Market, Company Share Analysis
- SECTION 17 - COMPANY PROFILES
- 17.1 Climeon
- 17.1.1 Company Snapshot
- 17.1.2 Financial Overview
- 17.1.3 Product Portfolio
- 17.1.4 Recent Developments
- 17.2 DURR Group
- 17.2.1 Company Snapshot
- 17.2.2 Financial Overview
- 17.2.3 Product Portfolio
- 17.2.4 Recent Developments
- 17.3 MITSUBISHI INDUSTRIES LTD.
- 17.3.1 Company Snapshot
- 17.3.2 Financial Overview
- 17.3.3 Product Portfolio
- 17.3.4 Recent Developments
- 17.4 Cochran
- 17.4.1 Company Snapshot
- 17.4.2 Financial Overview
- 17.4.3 Product Portfolio
- 17.4.4 Recent Developments
- 17.5 Thermax Limited
- 17.5.1 Company Snapshot
- 17.5.2 Financial Overview
- 17.5.3 Product Portfolio
- 17.5.4 Recent Developments
- 17.6 BIHL
- 17.6.1 Company Snapshot
- 17.6.2 Financial Overview
- 17.6.3 Product Portfolio
- 17.6.4 Recent Developments
- 17.7 AURA GmbH & CO.KG
- 17.7.1 Company Snapshot
- 17.7.2 Financial Overview
- 17.7.3 Product Portfolio
- 17.7.4 Recent Developments
- 17.8 Echogen
- 17.8.1 Company Snapshot
- 17.8.2 Financial Overview
- 17.8.3 Product Portfolio
- 17.8.4 Recent Developments
- 17.9 Forbes Marshall
- 17.9.1 Company Snapshot
- 17.9.2 Financial Overview
- 17.9.3 Product Portfolio
- 17.9.4 Recent Developments
- 17.10 John Wood Group PLC
- 17.10.1 Company Snapshot
- 17.10.2 Financial Overview
- 17.10.3 Product Portfolio
- 17.10.4 Recent Developments
- SECTION 18 - RELATED REPORTS
- SECTION 19 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.