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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Waste Heat Recovery Systems Market: By Application Analysis By Temperature Analysis By End User and Geography
Waste Heat Recovery Systems Market: By Application Analysis By Temperature Analysis By End User and Geography
Waste Heat Recovery Systems Market size was valued at US$ 68.3 billion in 2023. It is expected to reach a value of US$ 101.7 billion by 2030, growing at a CAGR of 6.3% from 2024 to 2024. The global market provides a detailed overview of the Market, which has been segmented into application analysis, temperature analysis, and end user. By application analysis, the market has been segmented into Pre- Heating, Electricity & Steam Generation, and Others. The Electricity & Steam Generation segment is likely the most significant and fastest-growing segment in application analysis. By temperature analysis, the market has been segmented into <230 0C, 230-650 0C, and>650 0C. The <230 0C segment holds a significant revenue share in the market. Based on the end user, the market are segmented into Petroleum Refining, Cement, Heavy Metal Manufacturing, Chemical, Pulp & Paper Chemicals, Food & Beverage, Glass, and Others.
Study Period
2024-2030Base Year
2023CAGR
6.8%Largest Market
North AmericanFastest Growing Market
Asia-Pacific
Global waste heat recovery system (WHRS) market expansion is anticipated to be primarily driven by rising concerns about greenhouse gas (GHG) emissions and stringent laws to reduce carbon footprint.
North American market is expected to witness the largest market share during the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 68.3 billion |
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Market Size in 2030 |
US$ 101.7 billion |
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Market CAGR |
6.8% |
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By Application Analysis |
|
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By Temperature Analysis |
|
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By End User |
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By Region |
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The waste heat recovery systems market size was valued at US$ 68.3 billion in 2023 and is projected to reach US$ 101.7 billion by 2030 at a CAGR of 6.8% from 2024-2030
The waste heat recovery systems market key players are: Sigma Thermal Echogen Power Ststems Inc. Thermax Limited General Electric Co. Siemens Energy Mitsubishi Heavy Industries LTD Kemco Stystems Endotherm Ltd Ormat Technolgies ABB Ltd.
The waste heat recovery systems market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Waste Heat Recovery Systems Market Introduction |
| 2.1. Global Waste Heat Recovery Systems Market Taxonomy |
| 2.2. Global Waste Heat Recovery Systems Market Definitions |
| 2.2.1. By Application |
| 2.2.2. By Temperature |
| 2.2.3. By End User |
| 2.2.4. By Region |
| 3. Global Waste Heat Recovery Systems Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Waste Heat Recovery Systems Market Dynamic Factors - Impact Analysis |
| 3.6. Global Waste Heat Recovery Systems Market Competition Landscape |
| 4. Global Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Waste Heat Recovery Systems Market, By Application, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 5.1. Pre- Heating |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Electricity & Steam Generation |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Waste Heat Recovery Systems Market, By Temperature, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 6.1. <230 0C |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. 230-650 0C |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. >650 0C |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Waste Heat Recovery Systems Market, By End User, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.1. Petroleum Refining |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Cement |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Heavy Metal Manufacturing |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Chemical |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Pulp & Paper |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Food & Beverages |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 7.7. Glass |
| 7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.7.3. Market Opportunity Analysis |
| 7.8. Others |
| 7.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 7.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.8.3. Market Opportunity Analysis |
| 8. Global Waste Heat Recovery Systems Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, End User, and Region, 2024 -2030 |
| 9. North America Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 9.1. Application Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Pre- Heating |
| 9.1.2. Electricity & Steam Generation |
| 9.1.3. Others |
| 9.2. Temperature Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. <230 0C |
| 9.2.2. 230-650 0C |
| 9.2.3. >650 0C |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1. Petroleum Refining |
| 9.3.2. Cement |
| 9.3.3. Heavy Metal Manufacturing |
| 9.3.4. Chemical |
| 9.3.5. Pulp & Paper |
| 9.3.6. Food & Beverage |
| 9.3.7. Glass |
| 9.3.8. Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, By Temperature, End User, and Country, 2024 -2030 |
| 9.6. North America Waste Heat Recovery Systems Market Dynamics Trends |
| 10. Europe Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 10.1. Application Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Pre- Heating |
| 10.1.2. Electricity & Steam Generation |
| 10.1.3. Others |
| 10.2. Temperature Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. <230 0C |
| 10.2.2. 230-650 0C |
| 10.2.3. >650 0C |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Petroleum Refining |
| 10.3.2. Cement |
| 10.3.3. Heavy Metal Manufacturing |
| 10.3.4. Chemical |
| 10.3.5. Pulp & Paper |
| 10.3.6. Food & Beverage |
| 10.3.7. Glass |
| 10.3.8. Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Rest of Europe |
| 10.5. Europe Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, By Temperature, End User, and Country, 2024 -2030 |
| 10.6. Europe Waste Heat Recovery Systems Market Dynamics Trends |
| 11. Asia-Pacific Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 11.1. Application Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Pre- Heating |
| 11.1.2. Electricity & Steam Generation |
| 11.1.3. Others |
| 11.2. Temperature Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. <230 0C |
| 11.2.2. 230-650 0C |
| 11.2.3. >650 0C |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Petroleum Refining |
| 11.3.2. Cement |
| 11.3.3. Heavy Metal Manufacturing |
| 11.3.4. Chemical |
| 11.3.5. Pulp & Paper |
| 11.3.6. Food & Beverage |
| 11.3.7. Glass |
| 11.3.8. Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. China |
| 11.4.2. India |
| 11.4.3. Japan |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, By Temperature, End User, and Country, 2024 -2030 |
| 11.6. Asia-Pacific Waste Heat Recovery Systems Market Dynamics Trends |
| 12. Latin America Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 12.1. Application Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Pre- Heating |
| 12.1.2. Electricity & Steam Generation |
| 12.1.3. Others |
| 12.2. Temperature Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. <230 0C |
| 12.2.2. 230-650 0C |
| 12.2.3. >650 0C |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Petroleum Refining |
| 12.3.2. Cement |
| 12.3.3. Heavy Metal Manufacturing |
| 12.3.4. Chemical |
| 12.3.5. Pulp & Paper |
| 12.3.6. Food & Beverage |
| 12.3.7. Glass |
| 12.3.8. Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, By Temperature, End User, and Country, 2024 -2030 |
| 12.6. Latin America Waste Heat Recovery Systems Market Dynamics Trends |
| 13. Middle East and Africa Waste Heat Recovery Systems Market Analysis, 2019 - 2023 and Forecast, 2024 -2030 (Revenue, USD Mn) |
| 13.1. Application Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Pre- Heating |
| 13.1.2. Electricity & Steam Generation |
| 13.1.3. Others |
| 13.2. Temperature Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. <230 0C |
| 13.2.2. 230-650 0C |
| 13.2.3. >650 0C |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Petroleum Refining |
| 13.3.2. Cement |
| 13.3.3. Heavy Metal Manufacturing |
| 13.3.4. Chemical |
| 13.3.5. Pulp & Paper |
| 13.3.6. Food & Beverage |
| 13.3.7. Glass |
| 13.3.8. Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 -2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Waste Heat Recovery Systems Market - Opportunity Analysis Index, By Application, By Temperature, End User, and Country, 2024 -2030 |
| 13.6. MEA Waste Heat Recovery Systems Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Application Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Sigma Thermal |
| 14.2.2. Echogen Power Ststems Inc. |
| 14.2.3. Thermax Limited |
| 14.2.4. General Electric Co. |
| 14.2.5. Siemens Energy |
| 14.2.6. Mitsubishi Heavy Industries LTD |
| 14.2.7. Kemco Stystems |
| 14.2.8. Endotherm Ltd |
| 14.2.9. Ormat Technolgies |
| 14.2.10. ABB Ltd. |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.