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Pre-Heating Waste Heat Recovery System Market Trends

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

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Pre-Heating Waste Heat Recovery System Market Trends

Gradual shift towards the adoption of advanced technologies and innovative solutions to enhance system efficiency and performance across end use industries will propel the product adoption. Additionally, collaborations between industry players and research institutions are fostering the development of next-generation waste heat recovery technologies, which in turn will sway the market growth. For instance, in February 2024, Cemex and Orcan Energy announced the successful installation of an ORC-based waste heat recovery system at a steel manufacturing plant in Germany. Moreover, manufacturers are increasingly focusing on developing customizable and modular waste heat recovery systems that can be seamlessly integrated into existing industrial processes.

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.