“Waste heat recovery system market to reach USD 65.87 billion by 2021”
The market size of waste heat recovery system (WHRS) is projected to reach USD 65.87 billion by 2021, at a CAGR of 6.90% between 2016 and 2021. The growing demand from major enduser industries such as cement and metal production is expected to drive the market in the future. The growing construction sector is significantly driving the demand for WHR system. The high cost of these systems is a major restraint for the market.
“Steam & electricity generation application to witness the highest growth rate during forecast period”
The steam & electricity generation application is expected to witness the highest growth rate between 2016 and 2021. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application. The advantages of steam generation are its high heat capacity and flexibility. However, it is expensive to produce steam, if there are inefficiencies in boiler and distribution systems. The fuel consumption is greatly reduced when the steam generated from waste heat is used for industrial operations.
“Asia-Pacific to be the fastest-growing market during forecast period”
Asia-Pacific is projected to be the fastest-growing WHR system market due to the growing construction industry and industrialization in the region. The South American WHR system market is also expected to grow significantly due to the growing metal production and cement industries. North America is a significant market for WHRS, and is witnessing a moderate growth rate due to stringent energy efficiency regulations. The future growth of the industry will likely be driven by investments in chemical and petroleum refining projects, which is backed by recent boom of shale gas and oil slates in the U.S. and Canada.
Break-up of profiles of primary participants for the report
- By Company Type – Tier 1– 37%, Tier 2– 50%, and Tier 3– 13%
- By Designation– C Level– 50%, Director Level– 31%, and Others–19%
- By Region– North America– 32%, Europe– 39%, Asia-Pacific– 13%, the Middle East & Africa- 10%, and South America- 6%
The report includes company profiles of major players and recent activities undertaken in the market such as supply contracts, agreements, and partnerships & collaborations. Some of the major companies profiled in this report are ABB Ltd. (Switzerland), Amec Foster Wheeler (U.K.), Ormat Technologies Inc. (U.S.), General Electric Co. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (U.S.), Econotherm Ltd. (U.K.), Thermax Limited (India), Siemens AG (Germany), and Cool Energy Inc. (Colorado).
This report provides a detailed analysis of the WHR system market and segments the same on the basis application, end-use industry, and region. Based on application, the market has been segmented into preheating, steam & electricity generation, and others. Based on end-use industry, the market has been segmented as petroleum refining, metal production, cement, chemical, paper & pulp, and others. Based on region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the WHR system market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on WHR system offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the WHR system market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for WHR system across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the WHR system market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the WHR system market