Waste Heat Recovery System (WHRS) Market | Outlook, Trends, Analysis & Industry Forecast to 2021

Waste Heat Recovery System (WHRS) Market is projected to reach USD 65.87 billion by 2021, at a CAGR of 6.90% between 2016 and 2021.

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The steam & electricity generation application is expected to witness the highest growth rate between 2016 and 2021. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application. The advantages of steam generation are its high heat capacity and flexibility. However, it is expensive to produce steam, if there are inefficiencies in boiler and distribution systems. The fuel consumption is greatly reduced when the steam generated from waste heat is used for industrial operations.

The growing demand from major enduser industries such as cement and metal production is expected to drive the market in the future. The growing construction sector is significantly driving the demand for WHR system. The high cost of these systems is a major restraint for the market.

Asia-Pacific is projected to be the fastest-growing WHR system market due to the growing construction industry and industrialization in the region. The South American WHR system market is also expected to grow significantly due to the growing metal production and cement industries. North America is a significant market for WHRS, and is witnessing a moderate growth rate due to stringent energy efficiency regulations. The future growth of the industry will likely be driven by investments in chemical and petroleum refining projects, which is backed by recent boom of shale gas and oil slates in the U.S. and Canada.

Complete report on Waste Heat Recovery System (WHRS) Market spread across 175 pages, profiling 10 companies and supported with 71 tables and 90 figures is now available at http://www.rnrmarketresearch.com/waste-heat-recovery-market-by-application-pre-heating-steam-generation-electricity-others-and-industry-petroleum-refining-heavy-metal-cement-chemical-natural-gas-compression-pulppaper-in-market-report.html

This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (37%); Tier 2 (50%) and others (13%) companies were contacted for interviews. The interviews were conducted with various key people such as C Level (50%), Directors Level (31%) and other (27%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (32%), Europe (39%), Asia-Pacific (13%), the Middle East & Africa (10%), and South America (6%).

The report includes company profiles of major players and recent activities undertaken in the market such as supply contracts, agreements, and partnerships & collaborations. Some of the major companies profiled in this report are ABB Ltd. (Switzerland), Amec Foster Wheeler (U.K.), Ormat Technologies Inc. (U.S.), General Electric Co. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (U.S.), Econotherm Ltd. (U.K.), Thermax Limited (India), Siemens AG (Germany), and Cool Energy Inc. (Colorado).

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