The Waste Heat Recovery System Market is expected to reach worth USD 41.23 billion growing at a CAGR of 6.83% by Planet Market Reports

Planet Market Reports has added a report, titled, “Global Waste Heat Recovery System Market 2017 Forecast to 2025.”

Waste Heat Recovery System Market

Industry Outlook and Trend Analysis

The Waste Heat Recovery System Market was worth USD 41.23 billion in 2014 and is expected to reach approximately USD 74.72 billion by 2023, while registering itself at a compound annual growth rate CAGR of 6.83% during the forecast period. A waste heat recovery unit WHRU is an energy recovery heat exchanger that exchanges heat from process yields at high temperature to other sections of the procedure for some reason, usually expanded efficiency. The WHRU is a tool engaged with cogeneration. Waste heat might be derived from sources, for example, steam from cooling towers, hot flue gases from a diesel generator, or even waste water from cooling procedures, for example, in steel cooling.

Application Outlook and Trend Analysis

The steam and electricity generation application section commanded the WHR system market in 2015. The market in this application is likewise anticipated that would encounter significant CAGR over the forecast period inferable from developing requirement for energy in several regions.
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End User Outlook and Trend Analysis

The WHRS market is characterized in light of end-use industry into metal production, petroleum refining, chemical, cement, paper and pulp, and others. The market is commanded by the petroleum refining end-use industry. In this industry, WHRS is used for different procedures, for example, catalytic, distillation, thermal cracking, and treatment.

Regional Outlook and Trend Analysis

North America is anticipated to witness a direct development rate. Asia-Pacific is foreseen to be the quickest developing WHR system market, which is sponsored by appeal from WHR system in the bond business in light of the developing development segment. The existence of real creating nations, for example, China, India, and South Korea additionally drive the WHR system market in the locale.

Competitive Insights

The major players in the market are General Electric, Echogen Power Systems Inc, Mitsubishi Heavy Industries Ltd, Ormat Technologies, ABB, Amec Foster Wheeler, Cool Energy Inc, Thermax, Econotherm Limited and Siemens. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

The Waste Heat Recovery System Market is segmented as follows-

By Application:

Steam and electricity generation
Preheating
Others

By End User:

Metal production
Chemical
Petroleum refining
Cement
Paper and pulp
Others
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By Region

North America
U.S.
Canada

Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA

Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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