San Francisco, California, December 04, 2018: A report by TMR Research, titled, “Waste Heat Recovery Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017–2025,” projects a promising future of the market. It states that the biggest USP of waste heat recovery systems is their ability to bring down energy losses. They do so by capturing the heat produced during various industrial processes. They use the captured energy for electrical and mechanical works. In this manner they help to conserve energy.
At the forefront of driving the global waste heat recovery market is the pressing need for energy for residential, commercial, and industrial processes. This has warranted optimization or proper utilization of available resources. Hence, the concept of waste heat recovery. Numerous companies have deployed the systems for generating energy and lessening emission.
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Preventing the global waste heat recovery market from attaining its full potential on the other hand is the high cost of installation. Besides, sales are also being hampered on concerns of protracted payback periods.
In order to further examine the prospects of the global waste heat recovery market, the report segments it on the basis of various parameters. Those include end use industries, applications, sources, and regions. Depending upon sources, the global waste recovery market, for example, is divided into turbines, refrigeration plants, process plants cooling systems, boiler flue gases, ventilation system extracts, and power generation plants, among others.
Application areas driving demand in the global waste heat recovery market are drying, space heating, pre-heating of combustion air for boilers, power generation, and fresh air for buildings, among others. Some of the end-use industries in the market are pulp and paper industries, refining industries, chemical refining industries, heavy metals reefing industries, and cement industries.
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Prominent participants in the global waste heat recovery market are Alstom SA, General Electric, Siemens AG, Thermax Ltd, Mitsubishi Heavy Industries Ltd, and Foster Wheeler AG.