About waste heat recovery
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. The following are the most common waste heat recovery equipment: HRSGs, industrial heating boilers, and turbines.
Technavio’s analysts forecast the global waste heat recovery market in oil and gas industry to grow at a CAGR of 7.6% during the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global waste heat recovery market in oil and gas industry for the period 2015-2019. The report focuses on waste heat recovery equipment used in the oil and gas industry. The installed capacity in the report is derived from waste heat to power applications in terms of GW.
Technavio’s report, Global Waste Heat Recovery Market in the Oil and Gas Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. A detailed study of the application segmentation, which includes the downstream, midstream, and upstream, is given in the report. Also, the report discusses the key geographies that comprise EMEA, APAC, and the Americas in terms of their installed capacity.
Technavio Announces the Publication of its Research Report – Global Waste Heat Recovery Market in oil and Gas Industry 2015-2019
Technavio recognizes the following companies as the key players in the Global Waste Heat Recovery Market in oil and Gas Industry: Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin Electric and MHPS
Other Prominent Vendors in the market are: Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies and Siemens
Commenting on the report, an analyst from Technavio’s team said: “Government bodies worldwide are focusing on the reduction of GHG emissions. International agreements such as the Kyoto Protocol have lowered the outlook for coal-fired generation. Agencies such as the EPA and IPCC and the Climate Change Act 2008 have been laying down targets for emission reduction. These stringent regulations for emission reduction and a clean environment have provided the impetus to use HRSG, heat exchangers, and other waste heat recovery equipment. Such regulations will drive long-term growth, as these regulations against carbon-intensive technologies are likely to tighten during the forecast period.”
According to the report, Waste heat recovery technology improves the operational efficiency of oil and gas plants and provides technological advantages for improving system performance. The waste exhaust or heat streams from various processes are used for other process applications or to produce power. Also, waste heat recovery can provide benefits in the form of fuel saving and reduction in emissions. These may have renewable and environmental credits.
Further, the report states that High cost of equipment and maintenance hinders the market growth.
Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin Electric, MHPS, Bono Energia, China Energy Recovery, Forbes Marshall, Ormat Technologies, Siemens