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Energy Industry News Releases

Waste Heat Recovery System Market Worth 65.87 Billion USD by 2021

 



(EnergyIndustry.Net, May 10, 2019 ) The report "Waste Heat Recovery System Market by Application (Preheating and Steam & Electricity Generation), End-Use Industry (Petroleum Refining, Metal Production, Cement, Chemical, Paper & Pulp, and Textile) - Global Trends & Forecasts to 2021", Published by MarketsandMarkets, the market size was USD 44.14 Billion in 2015, and is projected to reach USD 65.87 Billion by 2021, at a CAGR of 6.90% between 2016 and 2021

Request for PDF Sample Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202657867

Rising energy & electricity prices coupled with stringent government regulations & incentives are expected to drive the market in the future.

Steam & electricity generation segment accounts for the largest share in WHRS market

The WHRS market is segmented based on application into preheating, steam & electricity generation, and others. In 2015, the steam & electricity generation application segment captured the maximum share of the overall market; it is also expected to witness the highest CAGR during the forecast period. Steam & electricity generation is a significant application of the recovered waste heat because of the growing demand for energy in both developed and developing economies. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application.

Growing demand from cement industry to boost the WHR system market

The major end-use industries of the WHR system are petroleum refining, metal production, cement, chemical, paper & pulp, and others. The demand for WHRS in the cement industry is projected to register the highest CAGR during the forecast period. The global cement industry is projected to register a CAGR of 9% from 2016 to 2021. The growth in this industry is backed by increasing investments in various developing countries worldwide, increasing per capita income, and economic growth. The construction sector of developing countries such as China, India, and Indonesia is growing rapidly, especially in terms of social and education, healthcare, retail, and residential construction. These factors will also play a crucial role in driving the demand for WHRS in the cement industry.

Don't miss out on business opportunities in Waste Heat Recovery System Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=202657867

Browse in-depth TOC on "Waste Heat Recovery System Market"
71 - Market Data Tables
90 - Figures
175 - Pages

Europe: The largest market in WHRS

The Waste Heat Recovery System Market is broadly segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe is the largest WHR system market, closely followed by North America, in terms of value. Government and environmental organizations in various countries such as the U.S. and European Union have adopted stringent legislations on energy saving and energy efficiency. Even the government in developing regions such as Asia-Pacific and South America are formulating stringent regulations for environment protection. These stringent energy efficiency regulations are driving the use of WHRS in various manufacturing-oriented industries.

Currently, market players such as 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) dominate the global WHR system market.

Request for free customization of report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=202657867

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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