Global Waste Heat Recovery System Market

Global waste heat recovery system market is expected to reach US$ 68 Bn by 2026 at a CAGR of about 6.80 % during a forecast period. The report segment waste heat recovery system market based on application, end user industry and region.Based on the application, waste heat recovery system market is classified into Preheating and steam & electricity generation.In terms of end user industry, waste heat recovery system market can be divided into Petroleum refining, metal production, cement, chemical, paper & pulp, and textile. By region waste heat recovery system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Increasing population, manifestation of strict energy emission regulations and rapid mechanisation are the major growth drivers for the waste heat recovery system market. Increasing requirement of energy and electricity at reasonable prices is the key factor to boost the waste heat recovery system market. High capital cost for waste heat recovery system unit is limiting the growth in waste heat recovery market. Based on the application, waste heat recovery system market is classified into Preheating and steam & electricity generation. The steam & electricity generation segment is expected to witness high growth in waste heat recovery system market owing to increasing demand for steam & electricity generation by developed and developing economies. Growing electricity and energy cost is boosting the waste heat recovery system market. Global Waste Heat Recovery System Market By end user industry waste heat recovery system market is divided into Petroleum refining, metal production, cement, chemical, paper & pulp, and textile. Cement industry is expected to dominate the waste heat recovery system market during forecast year owing to rapid growth in construction sector. Growing investment by developing economies and rapid economic growth in construction sector such as residential construction are boosting the growth in waste heat recovery system market. In terms of region, waste heat recovery system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Europe hold the large market share in the waste heat recovery system market followed by Asia-Pacific. Increasing awareness with concern for waste heat recovery systems by European Union is driving the waste heat recovery system market in Europe region. Asia- Pacific is expected to dominate the waste heat recovery system market during forecast year owing to rapid industrialization and increasing significance for supportable energy by developing economies such as China and India.

This Information Submitted By Market Research Company (Maximize Market Research PVT.LTD) 

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