Waste Heat Recovery System Market Trends 2019, Share Forecast, statistics by 2025
UK waste heat recovery system market is anticipated to register 7% CAGR from 2019 to 2025 owing to ongoing policies and initiatives toward the adoption of energy efficient systems.
Selbyville, United States – April 29, 2019 /MarketersMedia/ —
Asia-Pacific waste heat recovery system market is set to reach over USD 30 Billion by 2025. Government policies and legislations aimed at reducing carbon footprint coupled with focus toward expansion of industrial centers will stimulate the industry growth. As of 2018, the region accounted for over 50% of the manufacturing value added on account of rise in FDI inflows toward the manufacturing sector on a global scale.
Global Waste Heat Recovery System Market is set to surpass USD 80 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Robust industrial sector growth along with rising demand for energy efficiency across key manufacturing sectors will drive the market growth. Shifting focus toward emission control coupled with stringent government regulations will stimulate the adoption heat recovery systems. Furthermore, reduced operational costs and shift toward renewable energy sources will significantly contribute toward industry expansion.
Shifting trends toward utilization of low temperature heat from industrial waste streams along with ongoing efforts to achieve energy optimization will boost the waste heat recovery system market growth. These systems are gaining importance across medium scale industries on account of their ability to cut down operational costs and reduce emission levels. Rising fuel prices and increasing demand for reliable electricity will further complement the industry growth.
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>650 0C waste heat recovery system primariliy involves SRC technology under which steam is extracted from the turbines to preheat the boiler feedwater. These units are primarily deployed across heavy metal manufacturing, cement and glass industries for effective utilization of exhaust heat. Technology advancement, greater operational flexibility and subsequent cost reduction are few prominent features that will significantly contribute toward expansion of waste heat recovery system market size.
In recent years, WHR systems have found significant penetration in glass, heavy metal production, chemical, and petroleum refining industries. Stringent emissions standards along with escalating demand for continuous and reliable electricity will stimulate the product adoption. Furthermore, ongoing expansion across food processing industry along with decreasing costs of low temperature heat utilization will increase the waste heat recovery system market.
Significant players operating across the waste heat recovery systems market include AC Boilers, Aura GmbH, AMEC Foster Wheeler, Bosch Thermotechnology, D?rr Group, General Electric, Forbes Marshall, Rentech Boiler Systems, Ormat Technologies, Exery SPA, Thermax, Viessman, Climeon AB, Boustead International, IHI Corporation, Cochran, Mitsubishi Hitachi Power Systems, Promec Engineering, HRS, Walchandnagar and Siemens.
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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/waste-heat-recovery-system-market
Source: MarketersMedia
Release ID: 507581
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