The global market for Waste Heat Recovery Systems was valued at US$72.3 Billion in 2024 and is projected to reach US$100.7 Billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Waste Heat Recovery Systems market.
Segments: Application (Preheating and Steam, Electricity Generation, Other Applications); End-Use Industry (Petroleum Refining, Metal Production, Cement, Other End-Use Industries).
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
Global Waste Heat Recovery Systems Market - Key Trends & Drivers Summarized
How Are Waste Heat Recovery Systems Revolutionizing Energy Use?
Waste heat recovery systems are becoming increasingly crucial in industrial applications as companies strive to improve energy efficiency and reduce greenhouse gas emissions. These systems capture excess heat generated by industrial processes and convert it into useful energy, such as electricity or steam, that can be reused within the plant or exported to the grid. This not only reduces energy consumption and costs but also minimizes the environmental impact of industrial operations. Waste heat recovery systems are widely used in industries such as steel, cement, chemicals, and power generation, where large amounts of waste heat are produced. As global energy demands continue to rise, the importance of waste heat recovery systems in optimizing energy use and reducing carbon footprints is becoming more pronounced.What Technological Developments Are Shaping Waste Heat Recovery Systems?
Technological innovations are significantly enhancing the efficiency and application scope of waste heat recovery systems. Advances in heat exchanger technologies, such as the development of compact and high-efficiency plate heat exchangers, are enabling better heat transfer and recovery rates. Additionally, the integration of digital technologies, such as IoT and data analytics, is enabling real-time monitoring and optimization of heat recovery processes. Emerging technologies like Organic Rankine Cycle (ORC) systems are also expanding the potential of waste heat recovery by converting low-grade waste heat into electricity, which was previously not feasible. These technological advancements are making waste heat recovery systems more efficient, cost-effective, and versatile, catering to a broader range of industries and applications.What Are the Key Challenges and Opportunities in the Waste Heat Recovery Systems Market?
The waste heat recovery systems market faces several challenges, including high initial investment costs, technical complexities associated with retrofitting existing facilities, and variability in the quality and temperature of waste heat. However, these challenges also create opportunities for innovation and market growth. The development of modular and scalable waste heat recovery systems can help industries overcome integration challenges and reduce costs. The increasing focus on renewable energy and decarbonization strategies is also opening up new opportunities for the deployment of waste heat recovery systems as a key component of sustainable energy management. Moreover, the rising trend of industrial automation and the adoption of smart manufacturing practices are driving demand for advanced waste heat recovery solutions that can seamlessly integrate with other digital and automation technologies.What Is Driving the Growth of the Waste Heat Recovery Systems Market?
The growth in the Waste Heat Recovery Systems market is driven by several factors, including rising energy costs, stringent environmental regulations, and the growing need for sustainable energy solutions in industrial processes. The increasing demand for energy-efficient solutions in energy-intensive industries, such as cement, steel, and power generation, is a major driver of market growth. Furthermore, the push towards reducing carbon emissions and achieving sustainability goals is encouraging industries to adopt waste heat recovery systems as part of their energy management strategies. Technological advancements in heat exchangers, control systems, and data analytics are enhancing the efficiency and reliability of these systems, making them more attractive to a wide range of industries. The growing awareness of the economic and environmental benefits of waste heat recovery is also contributing to the expansion of the market, particularly in emerging economies where industrialization is on the rise.Report Scope
The report analyzes the Waste Heat Recovery Systems market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.Segments: Application (Preheating and Steam, Electricity Generation, Other Applications); End-Use Industry (Petroleum Refining, Metal Production, Cement, Other End-Use Industries).
Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Preheating and Steam segment, which is expected to reach US$39.0 Billion by 2030 with a CAGR of a 5.5%. The Electricity Generation segment is also set to grow at 6.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $18.9 Billion in 2024, and China, forecasted to grow at an impressive 8.3% CAGR to reach $22.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Waste Heat Recovery Systems Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Waste Heat Recovery Systems Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Waste Heat Recovery Systems Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Airtec Thermoprocess GmbH, AMSEnergy Corp., Arvos, Inc., Astec Industries, Inc., Aura GmbH & Co.KG and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 41 companies featured in this Waste Heat Recovery Systems market report include:
- Airtec Thermoprocess GmbH
- AMSEnergy Corp.
- Arvos, Inc.
- Astec Industries, Inc.
- Aura GmbH & Co.KG
- Babcock & Wilcox Enterprises, Inc.
- Balkrishna Boilers Private Limited
- BE C&I Solutions Holding Pte. Ltd. (BECIS)
- Bertsch Energy GmbH & Co KG
- Bionomic Industries, Inc.
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What’s Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Airtec Thermoprocess GmbH
- AMSEnergy Corp.
- Arvos, Inc.
- Astec Industries, Inc.
- Aura GmbH & Co.KG
- Babcock & Wilcox Enterprises, Inc.
- Balkrishna Boilers Private Limited
- BE C&I Solutions Holding Pte. Ltd. (BECIS)
- Bertsch Energy GmbH & Co KG
- Bionomic Industries, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 244 |
| Published | April 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 72.3 Billion |
| Forecasted Market Value ( USD | $ 100.7 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
