"Catapult Your Business to Fore, Gain Competitive Advantage "

Heat Recovery Systems Market Size, Share & Industry Analysis, By Type (Preheating, Steam & Electricity Generation, Recuperates, Regenerators), By Technology (Complete Closed Loop Systems, Combustion Air Preheat Systems, High Particulate Systems), By Industry (Petroleum refining, Metal production, Cement, Chemical)And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106083 | Status : Ongoing



The technique of extracting residual heat from an existing industrial process and repurposing it for other purposes is known as heat recovery. The energy created by numerous industrial operations is referred to as waste heat. Heat recovery technologies aid in the reduction of operating expenses by increasing the energy productivity of facilities. The energy recovered during this process is employed in two key applications: steam and power generation, as well as preheating.

These heat recovery systems are one of the most cost-effective solutions to improve a plant's overall efficiency while minimizing fuel consumption. Due to the constraints of power conversion processes, a large portion of the fuel utilized to generate electricity in conventional power plants is squandered. Exhaust gases from many operations contain a significant quantity of energy, often known as waste heat. Industrial processes frequently create enough waste heat to power a generator.

Furthermore, pre-heating of combustion air, pre-heating of boiler feed water, ORC generators, plant process heating, steam ejectors, and building comfort heat are all users of waste heat recovery systems. Waste heat is frequently of low temperature quality. It can be tough to make the most of the heat available. In these situations, the ORC driven technology can provide an added benefit by increasing plant efficiency. The unit of ORC turns this otherwise lost energy into electricity. 

In the industrial sector, many technologies are being used on a broad scale to minimize energy consumption, operational expenses, greenhouse gas and carbon emissions. Using waste heat recovery systems to improve the economic feasibility of various industrial processes could be a smart step. Waste heat recovery systems are an appealing option for ensuring a low-emission environment as the industrial sector continues to enhance energy efficiency. These systems are extremely energy-efficient, and they can generate onsite electricity while lowering total operating expenses. Over the projection period, these factors are also projected to raise their demand. Heavy metal manufacture, chemical, cement, glass, and petroleum refining are just a few of the energy-intensive industries with significant waste heat recovery potential.

Key Market Driver -

• Rising Energy & Electricity Prices in Emerging Economies

Key Market Restraint -

• Cost Restriction & Temperature Restraints

Key Players Covered:  

Major players in the heat recovery systems market are ABB Ltd., Amec Foster Wheeler, Ormat Technologies Inc., Bosch Industriekessel GmbH, Sigma Thermal, Dresser-Rand-Ingersoll, Cain Industries, Ecogen Power Systems, General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd, Alstom, Borsig GmbH, The Maersk Group, Cool Energy Inc.,  Thermax Global, and Ci-Tech Energy Recovery Systems.

Regional Analysis:

North America expected to exhibit moderate growth in heat recovery system market. Government regulations governing energy conservation and efficiency, as well as government incentives such as tax refunds, are some of the reasons driving the North American market. Additionally, this region is known for its constant technological advances in the heat recovery industry, as well as the presence of some of the region's main firms.additionally, the growing population in the region is further creating opportunities for the market growth. Also, due to increased usage of heat systems for exhaust gas optimization in coal power plants and the provision of emission-free electricity, the U.S is considering to be the largest contributor to North America's market growth.

Europe is anticipated to experience high growth in in heat system market during the forecast period. Growing public awareness of heat recovery systems, as well as european union measures to produce electricity from waste, have been important drivers of market expansion in this region. Due to strict emission requirements aimed at reducing GHG emissions, Germany is the major contributor in the european heat system market. Some of the underlying drivers that will propel product demand in the coming years are technological advancements, reducing costs, and a supportive policy climate. Product deployment throughout heavy industries will be boosted by the establishment of emission regulations, as well as continued efforts to reduce greenhouse gas emissions. Product demand will be boosted by a supportive policy environment, technical breakthroughs, and decreasing costs over the expected time range.

Furthermore, Asia Pacific region is anticipated to exprience profitable market throughout the forecast period. Due to the extreme rising construction sector & strong demand for heat systems in the cement industry. The heat system market in the region is further fueled by the presence of major growing countries such as China, India, and South Korea. Additionally, the primary growth factors of heat recovery systems market include large-scale economic expansion, expanding population, rigorous pollution restrictions, and rapid industrialization. Other long-term development drivers contributing to the expansion of the heat recovery market in the this region include the demand for fuel-efficient systems and rising environmental safety awareness. These heat recovery systems are being installed in large numbers in China and India. Because of the strong demand for cement in the APAC area, the usage of waste heat recovery systems in the cement industry is expected to rise dramatically.

Middle East region is expected to witness a solid growth over forecast period. The cement, heavy metal manufacturing, glass, and refining are among of the country's most energy-intensive industries have a significant potentail in heat recovery market. Additionally, financial incentives and energy efficiency standards will also be implemented throughout major manufacturing sectors with the goal of reducing emissions, which will help the industry develop even more in this region.

To gain extensive insights into the market, Request for Customization




By Type

  • Preheating

  • Steam & Electricity Generation

  • Recuperates

  • Regenerators

  • Rotary Heat Exchangers,

  • Economizers

  • Others (Space Heating, Chilling)

By Technology

  • Complete Closed Loop Systems

  • Combustion Air Preheat Systems

  • High Particulate Systems

By Industry

  • Petroleum refining

  • Metal production

  • Cement

  • Chemical

  • Paper & pulp

  • Others (Food & Beverage, Glass, Primary metal refining)

By Region

  • North America (U.S., Canada and Mexico)

  • Europe (U.K., Germany, Spain, Italy, France, Benelux, Nordics and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania and Rest of Asia Pacific)

  • Middle East & Africa (Israel, Turkey, GCC, North Africa, South Africa and Rest of the Middle East & Africa)

  • South America (Brazil, Argentina and Rest of South Africa)

Key Industry Developments

  • In May 2021 - Wood (Amec Foster Wheeler) announced the strategic partnership with leading global resilient infrastructure organisation, The Resilience Shift. This multi-year agreement will focus on the importance of resilience alongside both firms’ work to lead industry transformation and inspire greater action on sustainable and resilient infrastructure.

  • In December 2020 - Ormat Technologies, Inc. acquired the asset from Con Edison Development. Ormat’s wholly owned subsidiary, Viridity Energy Solutions Inc., will design, build, own and operate a 25 MW battery energy storage system (BESS) project at the site.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Machinery & Equipment Clients


Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.