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Pre-Heating Waste Heat Recovery System Market Size

Report ID: GMI8910
Published Date: Apr 2024
Report Format: PDF

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Pre-Heating Waste Heat Recovery System Market Size

Pre-Heating Waste Heat Recovery System Market size was valued at USD 21.9 billion in 2023 and is projected to grow at a CAGR of 6.7% between 2024 and 2032. Increasing energy efficiency concerns, sustainability, and regulatory pressure to reduce emissions will drive the market dynamics. Key adopters include manufacturing, chemical processing, oil and gas, and power generation industries aiming to optimize energy usage and minimize operational costs.

Pre-Heating Waste Heat Recovery System Market

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For instance, in February 2024, European Commission emphasizes the role of waste heat recovery in achieving Europe's climate and energy goals, noting that up to 30% of industrial waste heat could be recovered and utilized by 2030. These systems improve energy efficiency and reduce greenhouse gas emissions by capturing and repurposing waste heat.

Pre-Heating Waste Heat Recovery System Market Report Attributes
Report Attribute	Details
Base Year:	2023
Pre-Heating Waste Heat Recovery System Market Size in 2023:	USD 21.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.7%
2032 Value Projection:	USD 37.5 Billion
Historical Data for:	2019 to 2023
No. of Pages:	250
Tables, Charts & Figures:	250
Segments covered:	Temperature, End use, and Region
Growth Drivers:	Increasing emphasis on energy efficiency and sustainability across industries Stringent regulations and government Technical complexity
Pitfalls & Challenges:	Maintenance and reliability

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of pre-heating waste heat recovery system reached USD 21.9 billion in 2023 and is set to witness 6.7% CAGR from 2024-2032, owing to the increasing energy efficiency concerns, sustainability, and regulatory pressure to reduce emissions worldwide.

The > 650 °C temperature segment is expected to record over USD 20 billion by 2032, due to wide variety of industrial processes where significant waste heat is generated, making it a prime target for waste heat recovery applications.

North America market is expected to surpass USD 11 billion by 2032, due to rising energy demand, and supportive government policies promoting energy efficiency and emissions reduction in the region.

Dürr Group, HRS, IHI Corporation, John Wood Group PLC, MITSUBISHI HEAVY INDUSTRIES, LTD., Ormat, Promec Engineering, Rentech Boilers, Siemens Energy, Sofinter S.p.a, Thermax Limited, and Viessman, are some of the major pre-heating waste heat recovery system companies worldwide.