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Europe Waste Heat Recovery Systems Market Size

Report ID: GMI7299
Published Date: Nov 2023
Report Format: PDF

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Europe Waste Heat Recovery Systems Market Size

Europe Waste Heat Recovery Systems Market was valued at USD 19.8 billion in 2022 and is set to grow at a rate CAGR of over 6.3% from 2023 to 2032. Waste heat recovery systems (WHRS) are technologies designed to capture and utilize waste heat generated during industrial processes or energy production. These systems help improve overall energy efficiency and reduce environmental impact by recovering and reusing heat that would otherwise be wasted.

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Technological advancements in heat recovery systems and the favorable measures introduced by governments to harness waste heat for energy generation will boost business growth. Waste heat is typically produced as a byproduct of various industrial processes, power generation, and even vehicle exhaust. The waste heat is traditionally released into the environment, resulting in energy wastage. However, waste heat recovery (WHR) systems have the capability to capture and effectively utilize this waste heat, converting it into usable energy, thereby enhancing overall energy efficiency.

Europe Waste Heat Recovery Systems Market Report Attributes
Report Attribute	Details
Base Year:	2022
Europe Waste Heat Recovery Systems Market Size in 2022:	USD 19.8 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 36.5 Billion
Historical Data for:	2019 to 2022
No. of Pages:	240
Tables, Charts & Figures:	264
Segments covered:	Application, Temperature, End Use, & Country
Growth Drivers:	Rising focus to reduce carbon footprint Stringent emission norms
Pitfalls & Challenges:	High initial investment

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The stringent government mandates regarding emissions and the increasing emphasis on energy conservation are set to boost the market's size. Industries such as cement production, glass manufacturing, heavy metal production, chemical manufacturing, and petroleum refining are well-known application sectors with substantial waste heat recovery potential. WHR systems are expected to play an increasingly vital role in the coming years due to their ability to reduce operating costs and generate power and heat on-site. Government initiatives aimed at reducing carbon emissions while enhancing energy efficiency will drive the growth of the WHR systems market.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market valuation of Europe waste heat recovery systems was surpassed USD 19.8 billion in 2022 and is set to expand at over 6.3% CAGR from 2023 to 2032, attributed to the favorable measures introduced by governments to harness waste heat for energy generation.

Europe waste heat recovery systems market size from the electricity & steam generation application segment is projected to grow at over 10% CAGR between 2023 and 2032, owing to the growing capacity to deliver high energy efficiency.

Germany waste heat recovery system industry is set to witness over 6.5% CAGR from 2023 to 2032, driven by the increasing government initiatives and regulatory measures along with financial incentives and subsidies.

Some of the major waste heat recovery system companies in Europe are BIHL, Promec Engineering, Climeon, AURA, MITSUBISHI HEAVY INDUSTRIES, LTD., Forbes Marshall, Siemens Energy, Bosch Industriekessel GmbH, EXERGY INTERNATIONAL SRL, and Dürr Group.