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Base Year: 2024
Companies covered: 21
Tables & Figures: 35
Countries covered: 5
Pages: 136
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Europe Waste Heat Recovery Systems Market
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Europe Waste Heat Recovery Systems Market Size
The Europe waste heat recovery systems market was valued at USD 22 billion in 2024 and is estimated to reach the value of USD 41.8 billion by 2034, growing at a CAGR of 6.8% from 2025 to 2034. The market is showing significant development, fueled by several factors that align with regulatory, environmental, and technological developments.
An advantage by captured and redirecting unused energy in industrial processes, Waste heat recovery systems has been identified as a solid alternative aid which reduces further energy consumption and cuts back GHG emissions. Across the world government are undertaking additional efforts to capture carbon-dioxide emissions and aim to reach net-zero around the mid-years of 2050. For example, European government set cover more ambitious aims by the EU – a goal of net 55% or greater reduction of greenhouse emissions from the 1990 levels by the year 2030 and climate neutrality by the year 2050.
EU waste management policies thus seek to minimize the environmental and health effects of waste and make the EU more resource efficient. The long-term objective of these policies is to minimize waste generation and, where waste generation cannot be avoided, encourage it as a resource and attain increased recycling rates and safe disposal of waste.
Tighter energy efficiency standards are being enforced worldwide, forcing industries to use technologies that consume less energy. Waste heat recovery systems are compatible with these regulations as they capture otherwise wasted thermal energy, helping overall energy efficiency increase. As reference, in November 2023, government act mandated that is aimed at decreasing energy consumption and meeting EU energy efficiency targets.
The introduction of U.S. tariffs in April 2025 under President Trump's administration is poised to impact the European Waste Heat Recovery Systems (WHRS) market, a sector integral to energy efficiency and industrial decarbonization. European manufacturers of WHRS components may face hurdles in exporting to the U.S. market, traditionally a significant destination for such technologies.
Europe Waste Heat Recovery Systems Market Trends
The use of renewable energy resources in industrial operations is a preference for most governments. Waste heat recovery systems have the ability to supplement renewable energy sources since they can offer a stable and steady supply of energy, particularly during times when the renewable sources are intermittent. As a reference, illustrative 2050 pathways from the Clean Growth Strategy (CGS) indicate that approximately 1 in every 5 buildings has the capability of accessing a primarily low carbon district heat network by 2050.
The Energy Efficiency Directive puts an emphasis on concerning member States to make energy conserving WHR Technology steps. Every state is expected to meet specific WHR targets and motivates companies to install investment recovery units to accomplish these goals. Wonderful technology developed by the ETEKINA project, which was financed by the EU, reduces damage to nature by recycling indusial heat. The study aids the idea of the EU to be free of pollution in the coming decades.
The Circular Economy Action Plan of the European Union, under the European Green Deal, highlights the significance of waste reduction and resource efficiency. The plan promotes material and energy reuse, with the aim of introducing WHR systems across different sectors. The systems fit into the circular economy model by utilizing waste heat and transferring it into available energy, thus reducing energy consumption overall and mitigating its impact on the environment.
For instance, in 2020, France has implemented policies like "Anti-waste Law" for the overall economy to enable the transition towards a circular economy, like offering incentives to businesses to invest in waste heat recovery technology. These policies aim to reduce waste and increase resource efficiency across various sectors.
Europe Waste Heat Recovery Systems Market Analysis
Europe Waste Heat Recovery Systems Market Share
The top 5 companies in the Europe waste heat recovery system market include Climeon, Mitsubishi Heavy Industries, Ltd., Dürr Group, General Electric, and Cochran, gathering over 30% market share. These companies have emerged and funded in global collaborations along with increasingly active technologies and team up with other partners for the development of waste management services.
The dominant control of the prime market player through connections & agreements as well as their persistent investments largely affects their control in the industry. As a reference, In December 2024, Climeon signed a contract for more than USD 1.08 million (EUR 1 million) with one of the largest shipping companies in the world for the installation of HeatPower 300 waste heat recovery (WHR) systems. The aim is to restore energy efficiency on two big operating container vessels. The HeatPower 300 system of the company is flexible and holistic in its design, concentrating new build requirements as well as retrofitting on in-service vessels.
Europe Waste Heat Recovery Systems Market Companies
Key market players operating across the Europe waste heat recovery system industry are:
Europe Waste Heat Recovery Systems Industry News
This Europe waste heat recovery system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2034, for the following segments:
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Market, By Application
Market, By Temperature
Market, By End Use
The above information has been provided for the following countries: