Press release
Waste Heat Recovery in Oil and Gas Market Revenue Share, Insights & Future Outlook
Waste Heat Recovery in Oil and Gas MarketThe global market for Waste Heat Recovery in Oil and Gas was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.
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Waste heat recovery is a process that involves capturing of heat exhausted by an existing industrial process. This waste heat is utilized for other heating applications, including power generation and other applications in different industries. There are numerous ways of recovering waste heat from industries. It is estimated that 20%-50% of industrial energy usage is eventually released as waste heat. The sources of waste heat mainly include discharge of hot combustion gases into the atmosphere and heat transfer from hot equipment exteriors. Waste heat recovery unit is normally a heat exchanger where the heat is recovered from hot streams with high energy content.
Thermal application segment is anticipated to dominate the oil and gas waste to heat recovery throughout the forecast period. The enhancement in equipment design is predicted to generate high revenue in thermal segment. Also, the electricity power generation application segment is anticipated to grow at highest CAGR throughout the forecast period. In addition, power management solutions are mounting owing to industrial inclination towards it thus is expected to boost growth of electricity power generation.
This report aims to provide a comprehensive presentation of the global market for Waste Heat Recovery in Oil and Gas, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Waste Heat Recovery in Oil and Gas.
By Type
• Upstream Sector Waste Heat Recovery
• Midstream Sector Waste Heat Recovery
• Downstream Sector Waste Heat Recovery
By Application
• Commercial
• Residential
Key Companies
Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin Electric, MHPS, Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies, Siemens
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