Waste Heat Recovery System Market Trends and Dynamic Demand by 2032

Exhaust Heat Recovery System Market size was valued at USD 41.69 Billion in 2021 and is projected to reach USD 102.37 Billion by 2030, growing at a CAGR of 10.5 % from 2023 to 2030.

Analytics Market Research has added a new key research reports covering Waste Heat Recovery System market. The study aims to provide global investors with a game-changing decision making tool covering key fundamentals of the Waste Heat Recovery System market. The research report will include total global revenues in the market with historical analysis, key figures including total revenues, total sales, key products, instrumental drivers, and challenges. The report data is derived from extensive primary and secondary information sources with a reliable in-depth overview of the Waste Heat Recovery System market. The research report relies on global governing bodies as primary sources of data, with independent analysis of the forecast, and objective estimations of the growth.

The Waste Heat Recovery System research report will also study market share for major stakeholders in their global capacity as transformers of the global scale. This qualitative and quantitative analysis will include key product offerings, key differentiators, revenue share, market size, market status, and strategies. The report will also cover key agreements, collaborations, and global partnership soon to change dynamics of the market on a global scale.

The rise in demand for diesel commercial vehicles and strict government emission regulations are some of the major reasons driving the growth of the global exhaust heat recovery system market. The market is comprehensively evaluated in the study on the global exhaust heat recovery system market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.

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The waste heat energy from exhaust gases is converted by an exhaust heat recovery system into either electrical energy for the batteries or mechanical energy for the crankshaft. By heating the car fluids like engine oil and engine coolant, the heat that the engine doesn't consume is used to reduce hazardous gas emissions.

It could be in a conventional or hybrid car. Manufacturers employ this technique to reduce fuel and energy consumption and to achieve higher fuel economy. The output power can be increased by up to 40% and heat loss can be decreased by up to 25% when using an exhaust heat recovery system.

Global Exhaust Heat Recovery System Market Overview

The global market for exhaust heat recovery systems is mostly driven by the increase of strict emission standards. The stringent emission standards applied to both on- and off-road vehicles have increased. The increasing demand for diesel cars, particularly in the commercial vehicle category, is another significant driver driving the growth in the global Exhaust Heat Recovery System Market. The fuel economy of an engine is also improved by the exhaust heat recovery system. Another key factor is that these systems can reduce environmental pollution while converting thermal waste into electricity.

Exhaust heat recovery systems are anticipated to experience substantial expansion due to the usage of exhaust heat for auxiliary applications such oil cooling and heating, ventilation, and air conditioning (HVAC). Additionally, increased use of the turbocharger and exhaust gas recirculation (EGR) in gasoline-powered vehicles would open up opportunities for the market expansion of exhaust heat recovery systems. There are also chances in the expanding research and development to use new technologies to reduce pollution from fuel gas emissions. As a result, the market has several prospects for expansion.

There are several limitations, such as the rising popularity of light-duty electric powered vehicles in industrialised nations. Strong competition from both established and new market participants is another barrier.additionally, the Exhaust Heat Recovery System technology installation cost is higher. These could have a negative effect on the market for exhaust heat recovery systems.

Market Segmentation
Global Waste Heat Recovery System Market: Segmentations

Global Waste Heat Recovery System Market: By Key Players
ABB
MHI
Siemens
GE
Kawasaki
Ormat
Foster Wheeler
Bosch
Echogen Power Systems
EST (Wasabi)
Thermax

Global Waste Heat Recovery System Market: By Types
Steam System
Organic Rankine Cycle System
Kalina Cycle System

Global Waste Heat Recovery System Market: By Applications
Petroleum Refining
Heavy Metal Production
Cement
Chemical

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Global Waste Heat Recovery System Market: Regional Analysis
The countries covered in the regional analysis of the Global Waste Heat Recovery System market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:

• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.

• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.

• Porter's Five Force Model and SWOT analysis are used to study the global Waste Heat Recovery System market and would help stakeholders make strategic decisions.

• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.

• In-depth analysis of the types of Waste Heat Recovery System would help in identifying future applications in this market.

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