Pune, india, June 15, 2022 (GLOBE NEWSWIRE) -- The global heat recovery systems market size will grow at an appreciable rate owing to rising electricity and energy prices across emerging economies. Heat recovery technologies have become sought-after to reduce operating expenses. Advanced heat recovery solutions have become trendier to boost efficiency and reduce fuel consumption. Fortune Business Insights™ has delved into these inputs in an upcoming research report, titled, “Heat Recovery Systems Market, 2022-2029.”
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COVID-19 Impact-
Post-pandemic Outlook to be Robust with Resumption of Industrial Activities
While the pre-pandemic outlook was strong, the pandemic years sent shockwaves across the industrial sectors. Prominently, the metal production and cement sector grappled with a plunge in the construction sector across emerging and advanced economies. A gradual dip in the technology demand did not augur well for the business outlook. However, the post-pandemic era could be filled with investments and robust policies, partly due to the resumption of industrial activities. Stakeholders are poised to up their investments in advanced technologies to expand their footfall.
List of the Leading Companies Profiled in Heat Recovery Systems Market:
- ABB Ltd. (Switzerland)
- Ormat Technologies Inc. (U.S.)
- Amec Foster Wheeler (U.K.)
- General Electric Co. (U.S.)
- Echogen Power Systems Inc. (U.S.)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Bosch Industriekessel GmbH (Austria)
- Cool Energy Inc. (Colorado)
Segments-
Preheating to Gain Traction from Rising Demand for Efficiency
Based on the type, the market is segmented into steam & electricity generation, regenerators, recuperates and preheating. In terms of technology, the industry is segregated into combustion air preheat systems, complete closed loop systems and high particulate systems. On the basis of industry, the market is fragmented into metal production, petroleum refining, chemical and cement. With respect to region, the global market covers North America, Asia Pacific, Europe, the Middle East & Africa and South America.
Stakeholders expect the preheating segment to contribute notably toward the global market owing to the need to boost efficiency and reduce costs.
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/heat-recovery-systems-market-106083
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Type, By Technology, By Industry, By Region |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | ABB Ltd. (Switzerland), Ormat Technologies Inc. (U.S.), Amec Foster Wheeler (U.K.), General Electric Co. (U.S.), Echogen Power Systems Inc. (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), Bosch Industriekessel GmbH (Austria), Cool Energy Inc. (Colorado) |
| Heat Recovery Systems Market Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Report Coverage-
The research report provides a comprehensive view of factors reshaping the industry dynamics, including opportunities, drivers, restraints and trends. The primary sources are used to validate assumptions and findings to provide a bird-eye-view of the global market. The report also includes secondary resources, including press releases, annual reports, journals and white papers. Furthermore, quantitative and qualitative analyses have been sought to offer a granular view of the market.
Drivers and Restraints-
Waste Heat Recovery Systems to Receive Uptick with Adoption of Robust Technologies
With leading companies striving to boost heat recovery systems' market share, technological adoption will gain considerable traction. State-of-the-art technologies will receive an uptick to produce onsite electricity with reduced operating expenses. Amidst escalating environmental concerns, governments are likely to introduce incentives. Moreover, bullish demand for waste heat recovery systems across chemical, cement and petroleum refining sectors will bode well for the industry outlook. For instance, the soaring number of cement plants across emerging economies will add fillip to the industry business outlook. However, temperature restraints and cost restrictions could mar the market forecast over the next few years.
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Regional Insights
North America to Provide Promising Growth Opportunities with Increasing Incentives
Industry participants expect the U.S., Canada and Mexico to provide revenue-generating opportunities against the backdrop of incentives, such as tax refunds and exemptions. With relentless technological advancements and rising usage of heat systems for exhaust gas optimization in power plants, North America market forecast is expected to be strong during the assessment period. Moreover, the deployment of energy-efficient technologies will add fillip to the regional outlook.
Europe heat recovery systems market growth will observe an upward trajectory in the wake of rigorous regulations to minimize greenhouse gas emissions. The waste heat recovery heat systems will gain traction across heavy industries through technical breakthroughs, favorable policy environment and reduced costs. Robust demand for fuel-efficient systems and expansion of the chemical sector will provide Impetus to the regional growth.
Competitive Landscape-
Stakeholders to Invest in Collaboration to Bolster Footprint
Well-established players and new entrants are poised to infuse funds into product rollouts, technological advancements and R&D activities over the next few years. With advanced heat recovery systems gaining ground, major players could infuse funds into the landscape.
- May 2021: Wood (Amec Foster Wheeler) announced a collaboration with the Resilience Shift to boost sustainability and resilient infrastructure.
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