Waste Heat Recovery in the Oil and Gas Market Research|2018-2023| Heat Exchanger, Boilers, Other
Waste heat recovery is a process that involves the capturing of the heat exhausted by an existing industrial process. This waste heat is utilized in heating applications, including input stream pre-heating and for power generation in various industries. The sources of waste heat mainly include the discharge of hot combustion gases into the atmosphere and heat transfer from the exteriors of hot equipment. A waste heat recovery unit is normally a heat exchanger where the heat is recovered from the hot streams with high energy content.
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The Market research is conducted for Heat Exchanger, Boilers, Other types and their major applications including application in Commercial, Residential, Others . These types are chosen based on their respective demand in mentioned applications and gross margin
The report starts with a regional comparison in between market in North America, Europe, China, Japan, Southeast Asia, India regions along with market sizes, considering different product types, applications of that product and sales performance, which gives a brief overview of sales status for past five years, in terms of volume and value. This comparison makes it easier to pinpoint the performing regions, types and target applications.
Then report focus on the manufacturing of Waste Heat Recovery in the Oil and Gas. It briefly explains the manufacturing process and various costs like labour costs, raw materials cost and saturation in its cost, actual manufacturing process cost associated with it. Details of key raw material providers are also included in the report.
Competitive analysis considering increase in gross margin, sales, avg. sales price, and capacity etc. shows different aspects of major players which also points out your competitive advantages over them. It also helps you to plan effective strategies. The Waste Heat Recovery in the Oil and Gas market report considers following major manufacturers Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin Electric, MHPS, Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies
Waste Heat Recovery in the Oil and Gas Market Trend, Driver, and Challenge: -
Market Trend: -
The latest trend gaining momentum in the market is increasing use of thermoelectric material for waste heat recovery. Thermoelectric materials can generate electricity potential by a temperature difference. This converting temperature to current or vice versa is known as the Seebeck effect. These materials have been under study for generating electricity from waste heat. The materials can be utilized to generate useful electric power from waste heat, which will increase the overall energy consumption efficiency of the plant. These can be used in various industries, as well as in transportation vehicles. The improvements in the performance of thermoelectric materials have mainly focused on reducing the thermal conductivity of the materials.
Market Driver: -
One of the major drivers for this market is growing global electricity consumption. Globally, electricity consumption has been on the rise. It has increased at a CAGR of 2.77% during the period 2005-2015. Similarly, the global population rose by 12.78% during 2005-2015. This is creating an increasing demand for electricity, thus driving the electricity production market. This will be a major driver for the incorporation of waste heat recovery in power plants during the forecast period, as their use can lead to increased power production by improving plant efficiency. The installation of waste heat recovery systems in existing power plants is cheaper than building new power plants. Hence, waste heat recovery techniques will be the prime method of increasing power production during the forecast period.
Market Challenge: -
One of the major factors hindering the growth of this market is high investment costs for waste heat recovery systems. The key inhibiting factor of any technology is the cost. These costs primarily include capital cost and operational cost. One of the drawbacks of waste heat recovery systems is the high capital costs. The total costs incurred in installing a waste heat to power (WHP) system includes the cost of waste heat recovery equipment and power generation equipment. The average cost of such a WHP system is $3 million per MW of power produced. One unit of waste heat boiler can cost upward of half a million USD, depending on the size and specifications.
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In nutshell, Waste Heat Recovery in the Oil and Gas Market report includes detailed research on various important parameters for the Waste Heat Recovery in the Oil and Gas. It also includes type as well as application wise consumption data for these major parts of the world. The Waste Heat Recovery in the Oil and Gas market report displays year-over-year growth driven by various market trends, figures indicating actual impact on the market, challenges faced by market as well as manufacturers of Waste Heat Recovery in the Oil and Gas.
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