United States Waste Heat Recovery System Market 2025 | Growth Drivers, Market Forecast, Competitive Landscape & Business Opportunities

Market Size and Growth

The Global Waste Heat Recovery System Market size is growing at a high CAGR during the forecast period (2023-2030).

Key Development:

United States: Recent Industry Developments

✅ In October 2025, Clean Energy Technologies deployed an Organic Rankine Cycle (ORC) waste heat recovery system in Martin, Tennessee. This system transforms industrial waste heat into clean electricity, supporting a Fortune 100 company's sustainability goals.

Japan: Recent Industry Developments

✅ In April 2025, the Japanese government launched a subsidy program to reduce costs for renewable heat and industrial waste heat systems. This initiative supports equipment upgrades that lower emissions and improve energy efficiency.

✅ In March 2025, Osaka Gas announced plans to increase its domestic thermal power generation capacity to 3.2 GW by 2026, including the launch of two 75-MW biomass power stations in 2025. These projects aim to address the retirement of aging thermal power plants and meet rising electricity demand.

✅ In March 2025, Japan's environmental performance review highlighted progress in reducing energy use, greenhouse gas emissions, and air pollution. The country continues to invest in clean energy and circular economy initiatives to accelerate emission reductions.

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Recent Mergers and Acquisitions :

United States: Recent M&A Activity

✅ In May 2022, Yokogawa Electric Corporation, a Japan-based engineering company, acquired Dublix Technology ApS, a Denmark-based company specializing in waste-to-energy and biomass power plants. This acquisition aimed to enhance Yokogawa's portfolio of solutions for waste-to-energy and biomass power plants by integrating Dublix Technology's advanced combustion control and boiler performance optimization technologies. The goal was to improve operational efficiency, reduce environmental impact, and support the growing demand for sustainable energy generation.

✅ In September 2022, Transitional Energy, a U.S.-based geothermal technology company, partnered with ElectraTherm, Inc., a U.S.-based company providing waste heat recovery solutions. This collaboration aimed to convert waste heat to power in the oil and gas industry, leveraging geothermal technology and waste heat recovery solutions to improve energy efficiency and reduce emissions in a sector that typically generates significant waste heat.

✅ In October 2025, Clean Energy Technologies deployed its Clean Cycle IITM Organic Rankine Cycle (ORC) system at a Fortune 100 plant in Martin, Tennessee. RPG Energy Group led the project development and integration, installing a system that converts industrial waste heat into usable electricity. This deployment marks one of the first industrial ORC projects in the U.S., demonstrating the viability and scalability of waste heat recovery technologies.

Key Players:

=> ABB, John Wood Group PLC, Bechtel Corporation, Ormat Technologies, Mitsubishi Heavy Industries Ltd., Econotherm Limited, Thermax Limited, Siemens, Cool Energy, Inc., Echogen Power Systems LLC.

Growth Forecast Projected:

The Global Waste Heat Recovery System Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Waste Heat Recovery System Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Type: Pre-heating, Steam & Electricity Generation, Others

➥ By End-User: Petroleum Refining, Metal Production, Cement, Chemical, Paper & Pulp, Textile, Food & Beverage, Glass, Others

Regional Analysis for Waste Heat Recovery System Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Waste Heat Recovery System producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Waste Heat Recovery System revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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✅ Market Volatility & Emerging Risks Analysis
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