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Global Waste Heat Recovery Market 2017-2021

Global Waste Heat Recovery Market 2017-2021

About Waste Heat Recovery

Waste heat recovery is a process that involves the capturing of the heat exhausted by an existing industrial process. This waste heat is utilized in heating applications, including input stream pre-heating and for power generation in various industries. The sources of waste heat mainly include the discharge of hot combustion gases into the atmosphere and heat transfer from the exteriors of hot equipment. A waste heat recovery unit is normally a heat exchanger where the heat is recovered from the hot streams with high energy content.

Technavio’s analysts forecast the global waste heat recovery market to grow at a CAGR of 6.74% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global waste heat recovery market for 2017-2021. To calculate the market size, the report considers the new installations and exclude retrofit/ replacement/spares/aftermarket/services market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Waste Heat Recovery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ABB
  • Amec Foster Wheeler
  • Clean Energy Technologies
  • Mitsubishi Hitachi Power Systems
  • Siemens
Other prominent vendors
  • Bono Energia
  • BORSIG
  • Bosch Industriekessel
  • Citech
  • ClearPower Systems
  • Dresser-Rand
  • Echogen
  • Forbes Marshall
  • Ormat Technologies
  • Probe Manufacturing
  • TESPL
  • THE MAERSK GROUP
  • Thermax Global
Market driver
  • Growing global electricity consumption
  • For a full, detailed list, view our report
Market challenge
  • High investment costs for waste heat recovery systems
  • For a full, detailed list, view our report
Market trend
  • Increasing use of thermoelectric material for waste heat recovery
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Waste Heat Recovery Market 2017-2021

Technavio recognizes the following companies as the key players in the global waste heat recovery market: ABB, Amec Foster Wheeler, Clean Energy Technologies, Mitsubishi Hitachi Power Systems, and Siemens.

Other Prominent Vendors in the market are: Bono Energia, BORSIG, Bosch Industriekessel, Citech, ClearPower Systems, Dresser-Rand, Echogen, Forbes Marshall, Ormat Technologies, Probe Manufacturing, TESPL, THE MAERSK GROUP, and Thermax Global

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing use of thermoelectric material for waste heat recovery. Thermoelectric materials can generate electricity potential by a temperature difference. This converting temperature to current or vice versa is known as the Seebeck effect. These materials have been under study for generating electricity from waste heat. The materials can be utilized to generate useful electric power from waste heat, which will increase the overall energy consumption efficiency of the plant. These can be used in various industries, as well as in transportation vehicles. The improvements in the performance of thermoelectric materials have mainly focused on reducing the thermal conductivity of the materials.”

According to the report, one of the major drivers for this market is growing global electricity consumption. Globally, electricity consumption has been on the rise. It has increased at a CAGR of 2.77% during the period 2005-2015. Similarly, the global population rose by 12.78% during 2005-2015. This is creating an increasing demand for electricity, thus driving the electricity production market. This will be a major driver for the incorporation of waste heat recovery in power plants during the forecast period, as their use can lead to increased power production by improving plant efficiency. The installation of waste heat recovery systems in existing power plants is cheaper than building new power plants. Hence, waste heat recovery techniques will be the prime method of increasing power production during the forecast period.

Further, the report states that one of the major factors hindering the growth of this market is high investment costs for waste heat recovery systems. The key inhibiting factor of any technology is the cost. These costs primarily include capital cost and operational cost. One of the drawbacks of waste heat recovery systems is the high capital costs. The total costs incurred in installing a waste heat to power (WHP) system includes the cost of waste heat recovery equipment and power generation equipment. The average cost of such a WHP system is $3 million per MW of power produced. One unit of waste heat boiler can cost upward of half a million USD, depending on the size and specifications.

Companies Mentioned

ABB, Amec Foster Wheeler, Clean Energy Technologies, Mitsubishi Hitachi Power Systems, and Siemens. Other Prominent Vendors in the market are: Bono Energia, BORSIG, Bosch Industriekessel, Citech, ClearPower Systems, Dresser-Rand, Echogen, Forbes Marshall, Ormat Technologies, Probe Manufacturing, TESPL, THE MAERSK GROUP, and Thermax Global

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Common waste heat sources
  • Market landscape
    • Market overview
      • Table Global waste heat recovery market overview
    • Market size and forecast
      • Table Global waste heat recovery market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global waste heat recovery market by end-user
      • Table Global waste heat recovery market by end-user 2016 and 2021 (%)
      • Table Global waste heat recovery market by end-user 2016-2021 ($ billions)
    • Global waste heat recovery market in chemicals industry
      • Table Global waste heat recovery market in chemicals industry 2016-2021 ($ billions)
    • Global waste heat recovery market in petroleum refining industry
      • Table Global waste heat recovery market in petroleum refining industry 2016-2021($ billions)
    • Global waste heat recovery market in paper industry
      • Table Global waste heat recovery market in paper industry 2016-2021 ($ billions)
    • Global waste heat recovery market in commercial and institutional facilities
      • Table Global waste heat recovery market in commercial and institutional facilities 2016-2021 ($ billions)
    • Global waste heat recovery market in food industry
      • Table Global waste heat recovery market in food industry 2016-2021 ($ billions)
    • Global waste heat recovery market in metals
      • Table Global waste heat recovery market in metals industry 2016-2021 ($ billions)
  • Geographical segmentation
    • Global waste heat recovery market by geography
      • Table Global waste heat recovery market by geography 2016 and 2021 (%)
      • Table Global waste heat recovery market by geography 2016-2021 ($ billions)
    • Waste heat recovery market in Americas
      • Table Waste heat recovery market in Americas 2016-2021 ($ billions)
    • Waste heat recovery market in EMEA
      • Table Waste heat recovery market in EMEA 2016-2021 ($ billions)
    • Waste heat recovery market in APAC
      • Table Waste heat recovery market by APAC 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global electricity consumption by global population 2005-2015 (TWh and billions)
      • Table Global COemissions from fuel combustion by sector 2014 (%)
      • Table Cumulative investments in energy efficiency 2014-2035 ($ trillions)
    • Market challenges
      • Table Region-wise share in global renewable power growth 2015-2021 (%)
  • Market trends
    • Increasing use of thermoelectric material for waste heat recovery
    • Growing use of alternate fuels for power generation
    • Shift in manufacturing bases
      • Table Change in labor wages in Asia 2000 and 2014 (%)
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors (Indicative list)
  • Key vendor analysis
    • ABB
      • Table ABB: Key products/services
    • Amec Foster Wheeler
      • Table Amec Foster Wheeler: Key products/services
      • Table Amec Foster Wheeler: Key news
    • Clean Energy Technologies
      • Table Clean Energy Technologies: Key products/services
      • Table Clean Energy Technologies: Key news
    • Mitsubishi Hitachi Power Systems
      • Table Mitsubishi Hitachi Power Systems: Key products
      • Table Mitsubishi Hitachi Power Systems: Key news
    • Siemens
      • Table Siemens: Key products/services
  • Appendix
    • List of abbreviations
  • Explore Technavio

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