Waste Heat Recovery System Market Opportunities, Future Trends, Business Demand and Growth Forecast 2029

Waste Heat Recovery System Market Overview:

Objective of the competitive intelligence and market study is to give comprehensive analyse of Waste Heat Recovery System market and industry to the users. The report has studied and analysed local, regional manufacturing dynamics, cost advantages of location, supply chain and local as well as regional market for the key players. Report has also covered the availability of supplier the cost analysis of final product manufactured with the advantages to players.

Domestic demand for WHR systems in North America is rapidly increasing as global energy efficiency regulations become more stringent. The United States is the largest contributor to North America's market revenue due to increased use of WHRS for exhaust gas optimization in coal power plants and the provision of emission-free electricity. Such systems allow for the reuse of flue gases in thermal power plants for pre-drying and co-generation, increasing thermal efficiency and thus fueling product demand. The presence of major market participants such as General Electric and Terrapin in this region will drive waste heat recovery system market growth even further.

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Waste Heat Recovery System Market Scope and research methodology:

The report covers the 30 countries from all five continents. Bottom-up approach has been used to collect, analyse the data, which has helped research analyst to give micro details of the local market in the report. Even though this is global report, local level market dynamics are covered in the report. Primary and secondary, both the techniques are used to collect the data. Having said this, more focus was on secondary data base since paid, government sources are used to collect the secondary information. Company’s annual reports are used to collect the data, however, if company’s annual reports are not available, data is purchased from the different sources available in each country, that include each country’s tax department. Primary interviews are done with executives from key players, market experts and consultants in each country.

To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The report's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are calculated using weights allocated to each segment based on their utilization rate and average sale price. The percentage adoption or usage of the given market Size in the corresponding area or nation is used to calculate the country-wise splits of the overall market and its sub-segments.

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Waste Heat Recovery System Market Segmentation:

Depending on the End-User, the petroleum refinery segment was the largest waste heat recovery system market share in 2021. Due to an increase in drilling activities, it is expected to grow at the fastest CAGR over the forecast period. In this industry, WHR systems are used for procedures such as refinement, thermal cracking, and catalytic treatment.

Various government initiatives aimed at energy conservation and cost reduction are expected to drive the waste heat recovery system market even further. Rising demand for waste heat recovery systems (WHRS) in industries such as petroleum refineries, pulp and paper, heavy metals, petrochemicals, and chemicals for pre-heating, electricity generation, and steam generation is expected to drive waste heat recovery system market growth.

Waste Heat Recovery System Market Key Players:

Due to the limitations of giving profiles of all the players, companies for profiling sections are chosen on different parameters like market leader, local leaders, innovative companies. Profiling section of the report covers the competitive benchmarking of key players by region. Benchmarking is done on market presence, dominance pricing, penetration in end use application, market share, recent expansions, M&A.

Even though all the players in the industry are not profiled, it is taken caret that while estimating market size not a single player in scope area is missed out of consideration. “Profiles of additional companies can be provided on request”, said Sr. Research Analyst at MMR.

The major players covered in the Waste Heat Recovery System market report are:

  • Boustead International Heaters (UK)
  • Promec Engineering (UK)
  • Siemens AG (Germany)
  • ABB Ltd. (Switzerland)
  • General Electric Company (US)
  • Cool Energy Inc. (US)
  • General Electric Co. (US)
  • Echogen Power Systems Inc. (US)
  • Ormat Technologies (US)
  • Harbin Electric International Company Ltd (China)
  • Dongfang Electric Corporation (China)
  • China Energy Recovery (China)
  • Mitsubishi Hitachi Power Systems (Japan)
  • Mitsubishi Heavy Industries Ltd. (Japan)
  • Endotherm Ltd. (India)

Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

Key Questions Answered in the Waste Heat Recovery System Market Report are:

  • Which segment grabbed the largest share in the Waste Heat Recovery System market?
  • Who are the market leaders, market followers, and new entrants?
  • Strategies of market leaders in each segment with investment
  • SWOT analysis of each player
  • Region wise market structure and dynamics that impact the industry and companies
  • What was the competitive scenario of the Waste Heat Recovery System market in 2021?
  • Which are the key factors responsible for the Waste Heat Recovery System market growth?
  • Which region held the maximum share in the Waste Heat Recovery System market in 2021?

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 12,500 high growth opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and Communications, Mobile Device Management, Food and Beverages, Aerospace and Défense and other manufacturing sectors.

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