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aste Heat Recovery Market : A Research Report Highlights The Competitive Scenario Of The Market, Major Competitors, And Benchmarking ( Amec Foster Wheeler PLC, Harbin Electric International Company Ltd., Dongfang Electric Corporation, Mitsubishi Hitachi P
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The most eminent waste heat recovery hardware includes HRSGs, mechanical warming boilers, and turbines. Mechanical waste heat recovery is the procedure of catching and reusing waste heat, and gasses emerging from the modern procedures that would be generally lost into the climate. The waste heat recovery procedures can lessen energy utilization, operational expenses, and CO2 and nursery gas outflows.
During 2012-2015, Europe held the largest share in the global waste heat recovery market. The European waste heat recovery market is growing, due to early introduction of the waste heat recovery technology and environmental policies regarding curbing of industrial harmful emissions.
The Asia-Pacific waste heat recovery market is expected to witness the fastest growth at a CAGR of 9.8% during the forecast period. The major reasons for the highest growth are strong growth in cement industry in the region. Moreover, the stringent environmental regulations and high energy demand are also supporting the growth of the Asia-Pacific waste heat recovery market.
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The recovery of waste heat reduces the cost of operation in any industry, thus gaining wide popularity across the globe. For instance, preheating of combustion air can increase furnace efficiency up to 50%. The increased government initiatives, stringent regulations, and technological advancements are driving the growth of the global waste heat recovery market. However, the economies of scale and complexities in heat recovery would hinder the growth of the global market to some extent.
Some of the key companies operating in the global waste heat recovery market include Siemens AG, General Electric Company, Amec Foster Wheeler PLC, Harbin Electric International Company Ltd., Dongfang Electric Corporation, Mitsubishi Hitachi Power Systems, ABB Group, China Energy Recovery, and Ormat Technologies.
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