Waste Heat Recovery Market Size, Segments, Share, Key Players, Remuneration to Surge At 8.6% CAGR Through 2027 | Boustead International Heaters, ABB, Echogen Power systems, Mitsubishi Heavy Industries, Ltd
Waste Heat Recovery Market is valued at USD 56.82 Billion in 2020 and expected to reach USD 101.23 Billion by 2027 with a CAGR of 8.6% over the forecast period.
Waste Heat Recovery System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027, Increasing pollution and growing greenhouse gas emissions, supportive government regulations to decrease carbon footprint and rising need of energy efficient equipment’s are the some of the major factors driving the growth of Global Waste Heat Recovery System Market.
Key Players for Waste Heat Recovery Market:
Some key players for waste heat recovery Market are Siemens AG, Ormat Technologies, General Electric Co., Forbes Marshall, Boustead International Heaters, ABB, Echogen Power systems, Mitsubishi Heavy Industries, Ltd., Promec Engineering, Wood Plc, Terrapin, AURA GmbH % Co., Exergy S.P.A., IHI Corporation, Cliemon, Cool Enegy lnc., Econotherm, Thermax Limited and others.
The Prism Johnson Commissions Waste Heat Recovery Plant and Solar Power Plant at Prism Cement Plant
March 31st, 2021; India, Prism Cement established a 12 MW waste heat recovery (WHR) plant and 10MW solar power plant at its 6.1Mt/yr capacity integrated Prism Cement plant at Satana, Madhya Pradesh. The total WHR capacity of this plant is 22MW, with total of 23MW solar power capacity. The measures are part of the producer’s sustainability initiative, by which it aims to decrease its reliance on renewable.
Increasing Pollution and Growing Greenhouse Gas Emissions, Supportive Government Regulations to Decrease Carbon Footprint and Growing Need of Energy Efficient Equipments are the Significant Factors Driving the Market Growth
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Scope of Waste Heat Recovery Market Report:
Industrial waste heat is heat produced in different industrial processes which is not put into any practical use and is lost, wasted and dumped into the environment. A waste heat recovery system is an energy recovery heat exchanger that transfers heat from process outputs at high temperature to another part of the process for some purpose, usually increased efficiency. WHRU is tool involved in cogeneration. Waste heat may extracted from sources such as hot flue gases from diesel generator, steam from cooling towers, waste water from cooling processes such as steel cooling. This tool will add more efficiency to the process and thus decreases the costs of fuel and energy consumption needed for that process. This process helps in reducing the pollution e.g. thermal and air pollution is dramatically reduce due to less flues gases of high temperature emitted from different industries. It reduces equipment sizes as fuel consumption reduces so the control and security equipment for handling the fuel decreases.
Also it reduces the auxiliary energy consumption by reducing the equipment sizes. Waste heat of medium (120-650°C) and higher temperature could be used for generation of electricity or mechanical work via different capturing processes. It can be used to fulfill refrigeration requirements of trailer. Waste heat recovery is used in different industries like food industries, ceramic industries, cold storages, chemical industries, petroleum refining etc.
The COVID-19 has witnessed a negative impact on the growth of the global waste heat recovery market owing to the shutdown or less production of power generation plants, cement industries, glass manufacturing industries, metal manufacturing industries and also petroleum refining and others. Thus, it leads to decreased demand for the waste heat recovery systems by these industries.
The regions covered in waste heat recovery market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on country level, the market of waste heat recovery is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
The report enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage:
Demand Side and Supply Side Perspective and analysis
Company/Players/Manufacturers/Vendors/Service Providers Market Share
Competitive Landscape, Competition Matrix, and Player Positioning Analysis
Market Dynamics, Trends, and Factors affecting market growth during upcoming year
Key Buyers and End-User Analysis
Value Chain & Supply Chain Analysis including Distribution and Sales Channels as well as Forward and Backward Integration scenarios:
Manufacturing Cost Structure Analysis
Key Raw Materials Analysis
Key Pricing Strategies adopted in the market
Key Marketing Strategies adopted in the market
Porters Five Forces Analysis
Geographically, this report split global into several key Regions, revenue (Million USD) The geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region. It also covers market drivers, restraints, opportunities, challenges, and key issues in Post-Consumer Waste Heat Recovery Market.
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Frequently asked questions (FAQs) about the report:
• Can the report be customized according to the requirements?
Yes. The Waste Heat Recovery market report can be customized according to your needs. For instance, the company can be profiled you ask for while specific region/country analysis can be focused that meets your interests. You can talk to our research analyst about your exact requirements and UMR will accordingly tailor the required report.
• Can we narrow the available business segments?
Yes, the market report can be further segmented on the basis of data availability and feasibility. We can provide a further breakdown in product types and applications (if applicable) by size, volume, or revenue. In the market segmentation part, the latest product developments and customer behavior insights are also included to give an in-depth analysis of the market.
• Does the report cover COVID-19 impact and future market projections?
Yes. The market research report covers the detailed analysis of COVID-19 impact on the market. Our research team has been monitoring the market closely while it has been conducting interviews with the industry experts to get better insights on the present and future implications of the COVID-19 virus on the market.
The market report provides vital information on the strategies deployed by industry players during the COVID-19 crisis to maintain their position in the market. Along with this, it also shares crucial data on product developments due to the inevitable pandemic across the globe.
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