Waste Heat Recovery System Market

Waste Heat Recovery System Market by Application (Preheating and Steam & Electricity Generation), End-Use Industry (Petroleum Refining, Metal Production, Cement, Chemicals, Pulp & Paper), and Region - Global Forecast to 2027

Report Code: CH 2382 Jan, 2023, by marketsandmarkets.com

The WHRS market size is expected to grow from USD 72.5 billion in 2022 to USD 102.1 billion by 2027 at a compound annual growth rate (CAGR) of 7.1% during the forecast period.  The increase in demand for heat recovery systems is due to fast industrialization and growing awareness about attaining sustainable growth through energy efficiency. A significant drawback of waste heat recovery systems is their high cost. Additionally, the installation of waste heat recovery systems necessitates significant changes to the current setup, which results in a halt of production and downtime. Waste heat recovery systems are frequently used to preheat combustion air, space heating, furnace loads, and boiler feed water. The cascade system of waste heat recovery is bolstering the product demand which is an opportunity for the waste heat recovery system market. The industrial processes generating waste heat streams have variations in their temperatures. Many industrial facilities do not have onsite utilization of low-temperature heat. The heat exchanger surface corrodes as a result of low heat recovery is a challenge to the waste heat recovery system market.

Attractive Opportunities in the Waste Heat Recovery System Market

Waste Heat Recovery System Market

e- Estimated, p- Projected

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Waste heat recovery system market Dynamics

Driver- Growing environmental concerns

Climate change is the greatest economic, political, developmental, and environmental challenge for countries worldwide. Enhancing energy efficiency is the cheapest and the most reliable method of curbing carbon emissions, thus saving costs. Supplying energy for sustainable economic development is a goal shared by both developed and developing countries. The exhaust manufacturing facilities generate a lot of heat, which raises the carbon footprint and has a negative impact on the environment. Waste heat recovery systems are useful for improving the overall energy efficiency of industrial manufacturing processes, thereby boosting their demand.

Restraint- High capital investment

The major restraints of waste heat recovery systems are their high cost. The waste heat recovery systems require complex maintenance, which is expensive. Because of this, installing such a system requires a significant capital investment, which only large industries can afford. Small and medium-sized businesses cannot afford to cover such high costs. In most cases, the recovered heat may not be of sufficient quality to improve the process's energy efficiency. The cost-benefit analysis may be skewed by high costs and little benefit. One of the obstacles to the market's expansion is the high cost of waste heat recovery systems.

Opportunity - Rise in government incentives and emerging waste heat recovery system technologies

The EU promotes best practices and incentivizes Member States to implement waste heat recovery measures. Countries have directly or indirectly supported the recovery and use of waste heat. In Denmark, there are several measures in place that support waste heat recovery systems, including heat planning regulation, taxation, subsidies, heat price regulation, a ban on electrical heating, and a law on district cooling. In Italy, since 2011, with the EEN 9-11, the Italian Energy Management Authority (ARERA) has introduced the eligibility of Waste Heat Recovery in the white certificate scheme, allowing a 5-year benefit. Since 2017, with Decree DM 11 Gennaio 2017, a specific incentive scheme for waste heat recovery with Organic Rankine Cycle systems has been introduced, allowing a 10-year benefit. To remain competitive in the market, key players are favorably inclined to pursue various growth strategies such as capacity expansions, product launches, and product innovations. This is expected to have a significant positive impact on market growth.

Challenge - Issues associated with waste heat recovery systems

The industrial processes generating waste heat streams have variations in their temperatures. Many industrial facilities do not have onsite utilization of low-temperature heat. The heat exchanger surface corrodes as a result of low heat recovery. Some of the cooling water vapor in exhaust gases condenses, depositing corrosive solids and liquids on the heat exchanger surface. It is necessary to build the heat exchanger to withstand contact with these corrosive deposits. Industrial facilities that generate high-temperature waste heat require expensive materials and mechanisms to retain that temperature for use in other applications. The temperature reduces fast when exposed to the outside environment. This temperature reduction may affect the quality of the energy available for recovery. These complexities in recovering the waste heat make waste heat recovery systems unsuitable for use in many applications.

Waste Heat Recovery System Market: Ecosystem

Waste Heat Recovery System Market Ecosystem

By End-use industry, the Cement segment registered the highest CAGR during the forecast period.

The demand for waste heat recovery systems in the cement industry is driven by the rapid global growth of the construction sector. Increased investment in construction operations in numerous emerging economies and economic growth are driving the market in the cement industry. The industry is expected to be driven by the expansion of construction activities in emerging economies such as China, India, and Indonesia, particularly in social, educational, medical, retail, and residential construction.

By Application, the Preheating segment registers the highest cagr during the forecast period.

Due to its great efficiency and low fuel use, preheating is one of the most popular applications of waste heat in furnaces and kilns. Large boilers, metal-heating furnaces, high-temperature kilns, compact boilers, and compact industrial furnaces benefit from waste heat preheating. waste gases generated after recovery are utilized to preheat the stock in the aluminum and copper industries. This has the added benefit of reducing explosions caused by entrapped water vapor. As a result, the heat rejected by the process is utilized in the preheating application, resulting in increased energy efficiency and lower fuel costs.

China to register the highest CAGR during the forecast period.

Waste Heat Recovery System Market by Region

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The key factor driving the installation of waste heat recovery systems in (China) country is its economic and industrial expansion. China is taking steps to boost growth in a variety of industries, including chemicals, food and beverage, and cement. The country's construction sector is developing rapidly, driving up the demand for waste heat recovery systems in the cement industry. Because of the availability of low-cost raw materials and labor, China has developed itself as a manufacturing hub in recent years. This has resulted in significant expenditures in the country's manufacturing sector, increasing the need for waste heat recovery systems.

Key Market Players

Key players, ABB Ltd. (Switzerland), Wood (John Wood Group Plc) (UK), Ormat Technologies Inc. (US), General Electric Co. (US), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (US), Econotherm Ltd. (UK), Thermax Limited (India), Siemens AG (Germany), and Cool Energy Inc. (Colorado) have adopted various growth strategies, such as acquisitions, contracts, agreements, and new projects to increase their market shares and enhance their product portfolios.

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Scope of the Report

:

Report Metric

Details

Years Considered

2020–2027

Base year

2021

Forecast period

2022–2027

Unit considered 

Value (USD Million/USD Billion)

Segments

Application and Region

Regions

North America, Europe, Asia-Pacific, Middle East and Africa, and South America

Companies

ABB Ltd. (Switzerland), Wood (John Wood Group Plc) (UK), Ormat Technologies Inc. (U.S.), General Electric Co. (US), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc. (US), Econotherm Ltd. (UK), Thermax Limited (India), Siemens AG (Germany), Cool Energy Inc. (Colorado) and others are covered in the WHRS market.

This research report categorizes the global WHRS market on the basis of Application, End-Use Industry, and Region.

WHRS market, By Application
  • Steam & Electricity generation
  • Preheating
WHRS market, By End-use Industry
  • Petroleum Refining
  • Metal Production
  • Chemical
  • Cement
  • Paper & Pulp
  • Others
WHRS market, By Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa
  • South America

The market has been further analyzed for the key countries in each of these regions.

Recent Developments

  • In January 2022, The Ormat Technologies Inc. completed the acquisition of a shovel-ready energy storage asset in Upton County, Texas, from Con Edison Development.
  •  RBC acquired rival Asea Brown Boveri's (ABB) DODGE Mechanical Power Transmission business for USD 2.9 billion in cash in November 2022.
  • WSP Global Inc. completed its previously announced acquisition of the environment and infrastructure business (E&I) of John Wood Group PLC through a sale and purchase agreement  in September 2022.
  • Swiss industrial group ABB Ltd. acquired a minority stake in UK-based climate tech start-up Tallarna Ltd. in a push to expand its portfolio of user-friendly energy management technologies and strengthen the digital portfolio of its Smart Power division in November, 2022.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 30)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 1 END-USE INDUSTRIES CONSIDERED IN REPORT
    1.3 STUDY SCOPE 
          FIGURE 1 WASTE HEAT RECOVERY SYSTEM MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 34)
    2.1 RESEARCH DATA 
          FIGURE 2 WASTE HEAT RECOVERY SYSTEM MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
                                FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS
    2.2 MARKET SIZE ESTIMATION 
          FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
          FIGURE 5 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
          FIGURE 6 WASTE HEAT RECOVERY SYSTEM MARKET: DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 RESEARCH LIMITATIONS 
    2.6 GROWTH RATE ASSUMPTIONS 
    2.7 RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY (Page No. - 42)
          FIGURE 7 STEAM & ELECTRICITY GENERATION APPLICATION DOMINATED WASTE HEAT RECOVERY SYSTEM MARKET IN 2021
          FIGURE 8 PETROLEUM REFINING WAS LARGEST END-USE INDUSTRY OF WASTE HEAT RECOVERY SYSTEMS IN 2021
          FIGURE 9 EUROPE WAS LARGEST WASTE HEAT RECOVERY SYSTEM MARKET IN 2021
 
4 PREMIUM INSIGHTS (Page No. - 45)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN WASTE HEAT RECOVERY SYSTEM MARKET 
          FIGURE 10 INCREASING DEMAND FROM END-USE INDUSTRIES TO DRIVE MARKET
    4.2 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET, BY COUNTRY AND APPLICATION, 2021 
          FIGURE 11 GERMANY AND STEAM & ELECTRICITY GENERATION SEGMENT ACCOUNTED FOR LARGEST SHARES
    4.3 WASTE HEAT RECOVERY SYSTEM MARKET, BY END-USE INDUSTRY 
          FIGURE 12 PETROLEUM REFINING SEGMENT TO REGISTER FASTEST GROWTH BETWEEN 2022 AND 2027
    4.4 WASTE HEAT RECOVERY SYSTEM MARKET, BY APPLICATION 
          FIGURE 13 PREHEATING TO REGISTER HIGHEST CAGR BETWEEN 2022 AND 2027
    4.5 WASTE HEAT RECOVERY SYSTEM MARKET, BY KEY COUNTRIES 
          FIGURE 14 CHINA TO BE FASTEST-GROWING MARKET
 
5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN WASTE HEAT RECOVERY SYSTEM MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing need for energy-efficient systems
                    5.2.1.2 Growing environmental concerns
           5.2.2 RESTRAINTS
                    5.2.2.1 High capital investment
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand for waste heat recovery systems in preheating segment
                    5.2.3.2 Rise in government incentives and emerging waste heat recovery system technologies
           5.2.4 CHALLENGES
                    5.2.4.1 Issues associated with waste heat recovery systems
 
6 INDUSTRY TRENDS (Page No. - 52)
    6.1 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 16 PORTER’S FIVE FORCES ANALYSIS OF WASTE HEAT RECOVERY SYSTEM MARKET
          TABLE 2 IMPACT OF PORTER’S FIVE FORCES ON WASTE HEAT RECOVERY SYSTEM MARKET
           6.1.1 THREAT OF NEW ENTRANTS
           6.1.2 THREAT OF SUBSTITUTES
           6.1.3 BARGAINING POWER OF SUPPLIERS
           6.1.4 BARGAINING POWER OF BUYERS
           6.1.5 INTENSITY OF COMPETITIVE RIVALRY
    6.2 SUPPLY CHAIN ANALYSIS 
    6.3 TRADE ANALYSIS 
          TABLE 3 BOILER, STEAM, OR OTHER VAPOR GENERATING (OTHER THAN CENTRAL HEATING HOT WATER BOILERS, ALSO CAPABLE OF PRODUCING LOW PRESSURE STEAM) SUPERHEATED WATER BOILER (8402) IMPORTS, BY COUNTRY, 2021
          TABLE 4 BOILER, STEAM, OR OTHER VAPOR GENERATING (OTHER THAN CENTRAL HEATING HOT WATER BOILERS, ALSO CAPABLE OF PRODUCING LOW PRESSURE STEAM) SUPERHEATED WATER BOILER (8402) EXPORTS, BY COUNTRY 2021
          TABLE 5 HEAT EXCHANGE UNIT (NOT USED FOR DOMESTIC PURPOSES) (841950) IMPORTS, BY COUNTRY, 2021
          TABLE 6 HEAT EXCHANGE UNIT (NOT USED FOR DOMESTIC PURPOSES) (841950) EXPORTS, BY COUNTRY, 2021
          TABLE 7 TURBINE, STEAM, AND OTHER VAPOR TURBINE (8406) IMPORTS, BY COUNTRY, 2021
          TABLE 8 TURBINE, STEAM, AND OTHER VAPOR TURBINE (8406) EXPORTS, BY COUNTRY, 2021
    6.4 TECHNOLOGY ANALYSIS 
    6.5 REGULATORY LANDSCAPE 
          TABLE 9 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    6.6 CASE STUDIES 
          TABLE 10 MULTI-STAGE HEAT RECOVERY SYSTEMS FOR ENHANCED SAVINGS
          TABLE 11 WASTE HEAT RECOVERY IN SINTER PLANTS FOR ENERGY EFFICIENCY
    6.7 TRENDS/DISRUPTIONS IMPACTING BUYERS/CUSTOMERS 
          FIGURE 17 SHIFT FROM TRADITIONAL RAW MATERIALS TO SUSTAINABLE ONES
    6.8 KEY CONFERENCES AND EVENTS, 2022–2023 
          TABLE 12 WASTE HEAT RECOVERY SYSTEM MARKET: KEY CONFERENCES AND EVENTS, 2022–2023
    6.9 PRICING ANALYSIS 
           6.9.1 CHANGES IN PRICING IN 2021
    6.10 ECOSYSTEM MAP 
           FIGURE 18 ECOSYSTEM MAP
    6.11 PATENT ANALYSIS 
           6.11.1 INTRODUCTION
           6.11.2 METHODOLOGY
           6.11.3 DOCUMENT TYPE
                     FIGURE 19 DOCUMENT TYPE, 2018–2022
                     FIGURE 20 PUBLICATION TRENDS, 2018–2022
           6.11.4 INSIGHTS
                     FIGURE 21 JURISDICTION ANALYSIS, 2018–2022
           6.11.5 TOP APPLICANTS
                     FIGURE 22 TOP APPLICANTS, BY NUMBER OF PATENTS, 2018–2022
                     TABLE 13 LIST OF PATENTS
 
7 WASTE HEAT RECOVERY SYSTEM MARKET, BY APPLICATION (Page No. - 68)
    7.1 INTRODUCTION 
          FIGURE 23 WASTE HEAT RECOVERY SYSTEM MARKET, BY APPLICATION
          TABLE 14 WASTE HEAT SOURCES AND RELATED RECOVERY OPPORTUNITIES AT LOW TEMPERATURES (<230°C/446°F)
          TABLE 15 WASTE HEAT SOURCES AND RELATED RECOVERY OPPORTUNITIES AT MEDIUM TEMPERATURES (230°C–650°C/446-1,202°F)
          TABLE 16 WASTE HEAT SOURCES AND RELATED RECOVERY OPPORTUNITIES AT HIGH TEMPERATURES (>650°C/1,202°F)
          FIGURE 24 STEAM & ELECTRICITY GENERATION TO BE LARGEST APPLICATION SEGMENT
          TABLE 17 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
          TABLE 18 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
    7.2 PREHEATING 
          TABLE 19 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PREHEATING APPLICATION, BY REGION, 2017–2020 (USD MILLION)
          TABLE 20 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PREHEATING APPLICATION, BY REGION, 2021–2027 (USD MILLION)
    7.3 STEAM & ELECTRICITY GENERATION 
           7.3.1 STEAM GENERATION
           7.3.2 ELECTRICITY GENERATION
                    7.3.2.1 Steam Rankine cycle
                    7.3.2.2 Organic Rankine cycle (ORC)
                    7.3.2.3 Kalina cycle
                                TABLE 21 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN STEAM & ELECTRICITY GENERATION APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                                TABLE 22 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN STEAM & ELECTRICITY GENERATION APPLICATION, BY REGION, 2021–2027 (USD MILLION)
    7.4 OTHERS 
          TABLE 23 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2017–2020 (USD MILLION)
          TABLE 24 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2021–2027 (USD MILLION)
 
8 WASTE HEAT RECOVERY SYSTEM MARKET, BY END-USE INDUSTRY (Page No. - 77)
    8.1 INTRODUCTION 
          FIGURE 25 PETROLEUM REFINING END-USE INDUSTRY TO LEAD MARKET BETWEEN 2022 AND 2027
          TABLE 25 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
          TABLE 26 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
    8.2 PETROLEUM REFINING 
          TABLE 27 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PETROLEUM REFINING END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
          TABLE 28 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PETROLEUM REFINING END-USE INDUSTRY, BY REGION, 2021–2027 (USD MILLION)
    8.3 METAL PRODUCTION 
          TABLE 29 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN METAL PRODUCTION END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
          TABLE 30 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN METAL PRODUCTION END-USE INDUSTRY, BY REGION, 2021–2027 (USD MILLION)
    8.4 CEMENT 
          TABLE 31 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN CEMENT END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
          TABLE 32 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN CEMENT END-USE INDUSTRY, BY REGION, 2021–2027 (USD MILLION)
    8.5 CHEMICALS 
          TABLE 33 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN CHEMICALS END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
          TABLE 34 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN CHEMICALS END-USE INDUSTRY, BY REGION, 2021–2027 (USD MILLION)
    8.6 PULP & PAPER 
          TABLE 35 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PULP & PAPER END-USE INDUSTRY, BY REGION, 2017–2020 (USD MILLION)
          TABLE 36 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN PULP & PAPER END-USE INDUSTRY, BY REGION, 2021–2027 (USD MILLION)
    8.7 OTHERS 
          TABLE 37 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2017–2020 (USD MILLION)
          TABLE 38 WASTE HEAT RECOVERY SYSTEM MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2021–2027 (USD MILLION)
 
9 REGIONAL ANALYSIS (Page No. - 86)
    9.1 INTRODUCTION 
          FIGURE 26 CHINA TO BE FASTEST-GROWING MARKET
          TABLE 39 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
          TABLE 40 WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY REGION, 2021–2027 (USD MILLION)
    9.2 NORTH AMERICA 
           9.2.1 NORTH AMERICA: RECESSION IMPACT
                    TABLE 41 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 42 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
                    TABLE 43 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 44 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 45 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 46 NORTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.2.2 US
                    9.2.2.1 Largest producer and user of energy in world
                                 TABLE 47 US: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 48 US: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 49 US: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 50 US: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.2.3 CANADA
                    9.2.3.1 Market characterized by strict emission laws
                                 TABLE 51 CANADA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 52 CANADA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 53 CANADA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 54 CANADA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.2.4 MEXICO
                    9.2.4.1 Fastest-growing market in region
                                 TABLE 55 MEXICO: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 56 MEXICO: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 57 MEXICO: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 58 MEXICO: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
    9.3 EUROPE 
           9.3.1 EUROPE: RECESSION IMPACT
                    FIGURE 27 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SNAPSHOT
                    TABLE 59 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 60 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
                    TABLE 61 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 62 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 63 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 64 EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.2 GERMANY
                    9.3.2.1 Major exporter of machinery, vehicles, and chemicals
                                 TABLE 65 GERMANY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 66 GERMANY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 67 GERMANY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 68 GERMANY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.3 ITALY
                    9.3.3.1 Third-largest manufacturer of chemicals in Europe
                                 TABLE 69 ITALY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 70 ITALY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 71 ITALY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 72 ITALY: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.4 FRANCE
                    9.3.4.1 Focused on sustainability and energy efficiency to address environmental concerns
                                 TABLE 73 FRANCE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 74 FRANCE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 75 FRANCE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 76 FRANCE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.5 UK
                    9.3.5.1 Promising market for waste heat recovery systems
                                 TABLE 77 UK: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 78 UK: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 79 UK: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 80 UK: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.6 BELGIUM
                    9.3.6.1 EPC program to encourage installation of waste heat recovery systems
                                 TABLE 81 BELGIUM: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 82 BELGIUM: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 83 BELGIUM: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 84 BELGIUM: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.7 SWEDEN
                    9.3.7.1 Committed to undertaking energy-saving initiatives
                                 TABLE 85 SWEDEN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 86 SWEDEN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 87 SWEDEN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 88 SWEDEN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.8 RUSSIA
                    9.3.8.1 Focused on energy conservation
                                 TABLE 89 RUSSIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 90 RUSSIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 91 RUSSIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 92 RUSSIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.9 POLAND
                    9.3.9.1 Aimed at reducing greenhouse gas emissions
                                 TABLE 93 POLAND: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 94 POLAND: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 95 POLAND: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 96 POLAND: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.10 SPAIN
                    9.3.10.1 Focused on transitioning to low-carbon economy
                                 TABLE 97 SPAIN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 98 SPAIN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 99 SPAIN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 100 SPAIN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.3.11 REST OF EUROPE
                    TABLE 101 REST OF EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 102 REST OF EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 103 REST OF EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 104 REST OF EUROPE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
    9.4 ASIA PACIFIC 
           9.4.1 ASIA PACIFIC: RECESSION IMPACT
                    FIGURE 28 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SNAPSHOT
                    TABLE 105 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 106 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
                    TABLE 107 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 108 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 109 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 110 ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.2 CHINA
                    9.4.2.1 Largest market in Asia Pacific
                                 TABLE 111 CHINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 112 CHINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 113 CHINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 114 CHINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.3 INDIA
                    9.4.3.1 Promising market for waste heat recovery system technology
                                 TABLE 115 INDIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 116 INDIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 117 INDIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 118 INDIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.4 JAPAN
                    9.4.4.1 Energy Conservation Act mandates major firms to employ energy-saving measures
                                 TABLE 119 JAPAN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 120 JAPAN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 121 JAPAN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 122 JAPAN: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.5 SOUTH KOREA
                    9.4.5.1 Renewable Energy 3020 to boost use of renewable energy sources
                                 TABLE 123 SOUTH KOREA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 124 SOUTH KOREA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 125 SOUTH KOREA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 126 SOUTH KOREA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.6 INDONESIA
                    9.4.6.1 Renewable Portfolio Standard mandates electricity retailers to source power from renewable sources
                                 TABLE 127 INDONESIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 128 INDONESIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 129 INDONESIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 130 INDONESIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.4.7 REST OF ASIA PACIFIC
                    TABLE 131 REST OF ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 132 REST OF ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 133 REST OF ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 134 REST OF ASIA PACIFIC: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
    9.5 MIDDLE EAST & AFRICA 
           9.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT
                    TABLE 135 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 136 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
                    TABLE 137 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 138 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 139 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 140 MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.5.2 KINGDOM OF SAUDI ARABIA (KSA)
                    9.5.2.1 Energy Efficiency and Renewable Energy Initiative to promote use of energy-efficient technologies
                                 TABLE 141 KINGDOM OF SAUDI ARABIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 142 KINGDOM OF SAUDI ARABIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 143 KINGDOM OF SAUDI ARABIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 144 KINGDOM OF SAUDI ARABIA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.5.3 SOUTH AFRICA
                    9.5.3.1 Various government initiatives to support development of clean energy technologies
                                 TABLE 145 SOUTH AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 146 SOUTH AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 147 SOUTH AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 148 SOUTH AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.5.4 UAE
                    9.5.4.1 Dynamic market with significant growth potential
                                 TABLE 149 UAE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 150 UAE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 151 UAE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 152 UAE: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.5.5 REST OF MIDDLE EAST & AFRICA
                    TABLE 153 REST OF MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 154 REST OF MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 155 REST OF MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 156 REST OF MIDDLE EAST & AFRICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
    9.6 SOUTH AMERICA 
           9.6.1 SOUTH AMERICA: RECESSION IMPACT
                    TABLE 157 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 158 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY COUNTRY, 2021–2027 (USD MILLION)
                    TABLE 159 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 160 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 161 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 162 SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.6.2 BRAZIL
                    9.6.2.1 Market in early stage of development
                                 TABLE 163 BRAZIL: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 164 BRAZIL: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 165 BRAZIL: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 166 BRAZIL: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.6.3 ARGENTINA
                    9.6.3.1 Major producer of oil and natural gas in region
                                 TABLE 167 ARGENTINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                 TABLE 168 ARGENTINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                                 TABLE 169 ARGENTINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                                 TABLE 170 ARGENTINA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
           9.6.4 REST OF SOUTH AMERICA
                    TABLE 171 REST OF SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 172 REST OF SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY APPLICATION, 2021–2027 (USD MILLION)
                    TABLE 173 REST OF SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 174 REST OF SOUTH AMERICA: WASTE HEAT RECOVERY SYSTEM MARKET SIZE, BY END-USE INDUSTRY, 2021–2027 (USD MILLION)
 
10 COMPETITIVE LANDSCAPE (Page No. - 149)
     10.1 INTRODUCTION 
     10.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 175 OVERVIEW OF STRATEGIES ADOPTED BY WASTE HEAT RECOVERY SYSTEM MANUFACTURERS
             10.2.1 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2021
                        TABLE 176 WASTE HEAT RECOVERY SYSTEM MARKET: SHARE OF KEY PLAYERS
                        FIGURE 29 WASTE HEAT RECOVERY SYSTEM: MARKET SHARE ANALYSIS
     10.3 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 177 WASTE HEAT RECOVERY SYSTEM MARKET: STRATEGIC POSITIONING OF KEY PLAYERS
     10.4 COMPANY EVALUATION QUADRANT 
             10.4.1 STARS
             10.4.2 PERVASIVE PLAYERS
             10.4.3 EMERGING LEADERS
             10.4.4 PARTICIPANTS
                        FIGURE 30 WASTE HEAT RECOVERY SYSTEM MARKET: COMPANY EVALUATION QUADRANT, 2021
     10.5 START-UP/SMALL AND MEDIUM-SIZED ENTERPRISE (SME) EVALUATION QUADRANT 
             10.5.1 RESPONSIVE COMPANIES
             10.5.2 DYNAMIC COMPANIES
             10.5.3 STARTING BLOCKS
             10.5.4 PROGRESSIVE COMPANIES
                        FIGURE 31 START-UP AND SMALL AND MEDIUM-SIZED ENTERPRISE (SMES) EVALUATION MATRIX, 2021
     10.6 REVENUE ANALYSIS OF TOP PLAYERS 
     10.7 COMPETITIVE BENCHMARKING 
             TABLE 178 WASTE HEAT RECOVERY SYSTEM MARKET: DETAILED LIST OF KEY PLAYERS
             TABLE 179 WASTE HEAT RECOVERY SYSTEM MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS
     10.8 COMPETITIVE SITUATION AND TRENDS 
             10.8.1 DEALS
                        TABLE 180 WASTE HEAT RECOVERY SYSTEM MARKET: DEALS, 2019–2022
             10.8.2 OTHER DEVELOPMENTS
                        TABLE 181 WASTE HEAT RECOVERY SYSTEM MARKET: OTHER DEVELOPMENTS, 2019–2022
 
11 COMPANY PROFILES (Page No. - 167)
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
     11.1 KEY PLAYERS 
             11.1.1 ABB LTD.
                        TABLE 182 ABB LTD.: COMPANY OVERVIEW
                        FIGURE 32 ABB LTD.: COMPANY SNAPSHOT
                        TABLE 183 ABB LTD.: DEALS
                        TABLE 184 ABB LTD.: OTHERS
             11.1.2 WOOD (JOHN WOOD GROUP PLC)
                        TABLE 185 WOOD (JOHN WOOD GROUP PLC): COMPANY OVERVIEW
                        FIGURE 33 WOOD (JOHN WOOD GROUP PLC): COMPANY SNAPSHOT
                        TABLE 186 WOOD (JOHN WOOD GROUP PLC): DEALS
                        TABLE 187 WOOD (JOHN WOOD GROUP PLC): OTHERS
             11.1.3 ORMAT TECHNOLOGIES INC.
                        TABLE 188 ORMAT TECHNOLOGIES INC: COMPANY OVERVIEW
                        FIGURE 34 ORMAT TECHNOLOGIES INC.: COMPANY SNAPSHOT
                        TABLE 189 ORMAT TECHNOLOGIES INC.: DEALS
                        TABLE 190 ORMAT TECHNOLOGIES INC.: OTHERS
             11.1.4 GENERAL ELECTRIC CO.
                        TABLE 191 GENERAL ELECTRIC COMPANY: COMPANY OVERVIEW
                        FIGURE 35 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
                        TABLE 192 GENERAL ELECTRIC COMPANY: DEALS
                        TABLE 193 GENERAL ELECTRIC COMPANY: OTHERS
             11.1.5 MITSUBISHI HEAVY INDUSTRIES, LTD.
                        TABLE 194 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
                        FIGURE 36 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 195 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS
                        TABLE 196 MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS
             11.1.6 SIEMENS AG
                        TABLE 197 SIEMENS AG: COMPANY OVERVIEW
                        FIGURE 37 SIEMENS AG: COMPANY SNAPSHOT
                        TABLE 198 SIEMENS AG: DEALS
             11.1.7 THERMAX LIMITED
                        TABLE 199 THERMAX LIMITED: COMPANY OVERVIEW
                        FIGURE 38 THERMAX LIMITED: COMPANY SNAPSHOT
                        TABLE 200 THERMAX LIMITED: DEALS
                        TABLE 201 THERMAX LIMITED: OTHERS
             11.1.8 ECHOGEN POWER SYSTEMS, LLC
                        TABLE 202 ECHOGEN POWER SYSTEMS, LLC: COMPANY OVERVIEW
                        TABLE 203 ECHOGEN POWER SYSTEMS, LLC: DEALS
                        TABLE 204 ECHOGEN POWER SYSTEMS, LLC: OTHERS
             11.1.9 ECONOTHERM LTD.
                        TABLE 205 ECONOTHERM LTD.: COMPANY OVERVIEW
                        TABLE 206 ECONOTHERM LTD.: DEALS
                        TABLE 207 ECONOTHERM LTD.: OTHERS
             11.1.10 COOL ENERGY, INC.
                        TABLE 208 COOL ENERGY, INC.: COMPANY OVERVIEW
     11.2 OTHER PLAYERS 
             11.2.1 TRANSPARENT ENERGY SYSTEMS PVT. LTD.
             11.2.2 JP STEEL PLANTECH CO. (STEEL PLANTECH)
             11.2.3 TMEIC
             11.2.4 CLYDE BERGEMANN POWER GROUP
             11.2.5 KILBURN ENGINEERING LIMITED
             11.2.6 SIGMA THERMAL
             11.2.7 PENTA ENGINEERING CORPORATION
             11.2.8 UNIDYNE
             11.2.9 THERMAL SYSTEMS (HYDERABAD) PVT. LTD.
             11.2.10 ESTEEM POWER EQUIPMENT INDIA PVT. LTD.
             11.2.11 HRS PROCESS SYSTEMS LIMITED (HRS PSL)
             11.2.12 CENTPRO
             11.2.13 E.L.I., INC.
             11.2.14 OXFORD NANOSYSTEMS
             11.2.15 BOWMAN POWER GROUP LTD.
 
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
 
12 APPENDIX (Page No. - 217)
     12.1 DISCUSSION GUIDE 
     12.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 
     12.3 CUSTOMIZATION OPTIONS 
     12.4 RELATED REPORTS 
     12.5 AUTHOR DETAILS 

This research study involves the use of extensive secondary sources, directories, and databases, such as Hoovers, ICIS articles, Factiva, and Bloomberg Businessweek, to identify and gather information for a technical, market-oriented, and commercial study of the WHRS market. The primary sources include industry experts from core and related industries and preferred suppliers, regulatory bodies, and organizations related to all segments of the value chain of this industry. In-depth interviews have been conducted with different primary respondents, such as key industry participants, subject matter experts (SMEs), C-Level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as to assess growth prospects.

Secondary Research

In the secondary research process, sources such as annual reports, press releases, investor presentations of companies; white papers; publications from recognized websites; and databases have been referred to for identifying and collecting information. Secondary research has been used to obtain key information about the supply chain of the industry, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both the market- and technology-oriented perspectives.

Primary Research

After the complete market estimation process (which includes calculations for market statistics, market breakdown, market size estimations, market forecast, and data triangulation), extensive primary research has been conducted to gather information and to verify and validate the critical numbers arrived at. Primary research has also been conducted to identify the segmentation, industry trends, key players, competitive landscape, industry trends, strategies of key players, and key market dynamics such as drivers, restraints, opportunities, and challenges.

In the primary research process, different primary sources from the supply and demand sides have been interviewed to obtain qualitative and quantitative information. The primary sources include industry experts such as CEOs, vice presidents, marketing directors, technology & innovation directors, and related key executives from various companies and organizations operating in the WHRS market.

Following is the breakdown of primary respondents—

Waste Heat Recovery System Market Size, and Share

Note 1: Others include sales, marketing, and product managers.

Note 2: Tier 1, Tier 2, and Tier 3 companies are classified based on their market share, product portfolio, and regional & global presence.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the market size estimation process, both the top-down and bottom-up approaches have been used, along with several data triangulation methods to carry out estimations and projections for the overall market and its sub-segments listed in this report. Extensive qualitative and quantitative analyses have been carried out on the complete process to list key information/insights throughout the report. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares split, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.

Market Size Estimation: Supply side estimation

Waste Heat Recovery System Market Size, and Share

Note: Bottom-Up Approach

Waste Heat Recovery System Market Size, and Share

Note: Top-Down Approach

Data Triangulation

After arriving at the overall market size from the process explained above, the total market has been split into several segments and sub-segments. To complete the overall market size estimation process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides. In addition, the market size has been validated using both the top-down and bottom-up approaches.

Report Objectives

  • To define, describe, and forecast the WHRS market in terms of value and volume.
  • To provide detailed information regarding the key factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.
  • To analyze and forecast the market size based on form, and application.
  • To analyze and forecast the market size in terms of value, with respect to four main regions: North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
  • To strategically analyze the micro markets with respect to individual growth trends, future prospects, and contribution to the total market.
  • To analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders.
  • To analyze competitive developments, such as products & services offered, and expansion, in the market.
  • To strategically profile key players and comprehensively analyze their core competencies.

Available Customizations:

Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:

Product Analysis:

  • Product Matrix which gives a detailed comparison of the product portfolio of each company

Regional Analysis:

  • Further breakdown of the Rest North America WHRS market
  • Further breakdown of the Rest of APAC WHRS market
  • Further breakdown of Rest of Europe WHRS market
  • Further breakdown of the Rest of Middle East & Africa WHRS market
  • Further breakdown of Rest of South America WHRS market

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
CH 2382
Published ON
Jan, 2023
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